ApeCoin Pumps As Staking Is Expected To Launch This Fall!
ApeCoin pumps as staking is expected to launch this fall!
This past week, Bored Ape Yacht Club (BAYC)’s native token, ApeCoin saw almost 15% increase in its price from its previous weeks after Horizen Labs team announced that they were going to soon announce new updates for the long-awaited ApeCoin staking.
About The $APE Staking
As previously mentioned by the Ape Foundation, $APE staking is expected to officially launch sometime this autumn, with no official date mentioning exactly when. However, with news that a Twitter Space updates is coming this 22nd of September, many in the community are suspecting $APE staking to launch soon.
As explained by the Ape Foundation before, $APE staking will occur over a 3-year period and rather than locking up their NFTs, holders will see that their staked $APE’s will be ‘locked up’ instead.
This means that users who choose to stake their $APE will still have the benefit of being able to hold, access and control their NFTs, being able to use it for other things like Otherside Metaverse trips, 10KTF collaborations, and any other events all the while still staking and acquiring $APE.
Apecoin staking is on track to launch this fall! I've put together an @apecoin staking 101 so we can all be ready when it launches! This will be a long one so let's kick it off with a TL;DR 👇 @boredapeyc #bayc #mayc pic.twitter.com/yfgzxWxdOX
— Nyxeros (@Nyxeros_) September 11, 2022
Aside from that, there will also be 4 pools users can gain access to depending on the NFT that they use to stake. These pools include a BAYC pool, MAYC pool, BAKC pool, as well as an $APE-only pool.
These pools each reportedly contain a portion of the total 100,000,000 $APE released in its first year. These totals will then be adjusted based on the NFTs floor prices each year before the staking period.
Related: ApeCoin Staking Will be Ready this Autumn!
Community’s Reaction
With the long-awaited $APE staking seeming to finally be launching soon, many in the community are understandably excited. However, some in the community have also been expressing their disdain and disappointment at the team.
More announcements about announcements because big VC dump comming in a few days . Don’t want people selling before they cash out .
— AngryBoredApe | BAYC #4447 (@Ox_Ditto) September 10, 2022
This disappointment stems mainly due to the teams constant push-back and slow movement. Hopefully this upcoming announcement on the 22nd of May, the team will officially announce a confirmed date for the $APE launch which the community has been awaiting for months now.
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