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  • Writer's pictureKyle

X Marketplace Announced A New Feature That Will Hopefully Keep Apes $Ape Safe! The Full Story Here:

As ApeCoin staking is set to launch next month, X marketplace announced a new feature that will hopefully keep Bored Apes’ $Ape safe!

The ApeCoin DAO’s staking system is set to go live in December and one of the key features of this protocol is that the staked $Ape is tied to a particular NFT.

“Think of your BAYC or MAYC like a box that holds your ApeCoin,” $Ape staking system builder Horizen Labs wrote in a seven part document in October. “If you sell the box, the new owner gets the box plus all of its contents. So, if you’re about to sell your BAYC or MAYC, WE STRONGLY RECOMMEND THAT YOU UNCOMMIT YOUR NFT PRIOR TO THE SALE. This will ensure a clean deposit into your wallet of both your staked and earned rewards. If you happen to sell your NFT and forget to uncommit it, the new owner has the ability to uncommit it, and as the NFT is transferred to the new owner, so too will transfer your staked ApeCoin and rewards.”

In an effort to keep BAYC and MAYC holders $Ape safe, X Marketplace announced a new front end feature that will show the buyer and the seller how much $Ape is currently attached to each NFT.

“@BoredApeYC+ MAYC listings on X Marketplace now show the amount of $APE earned and @apecoin staked Directly on our front end, X Marketplace tweeted earlier today. “Once staking goes live this will ensure listers + buyers are fully aware of any claimable assets.”

Following X Marketplaces post, the company’s Founder, BAYC member Bradley Zastrow, told the Gazette that he thinks this new feature on X Marketplace will add a lot of value to the community.

“We think this will go a long way in both a) helping prevent apes from accidentally losing claimable assets and b) perhaps introduce a new dynamic in the listing prices given the additional information,”he said.

The Bored Ape Gazette will continue to follow X Marketplace and will let you know what they do next!

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