ApeCoin Staking Will be Ready this Autumn!

ApeCoin is starting this Autumn. A number of updates have finally been released regarding the upcoming staking for ApeCoin

Staking Updates

Back in May, the $APE community participated in voting on their favoured staking proposals for the ApeCoin, and now nearly two months later, the APE Foundation has finally announced an update on progress regarding the ApeCoin staking system.

Through their Twitter, they announced that they have selected Horizon Labs to build and manage the staking system. “Thrilled to be joining forces with our friends at @ApeCoin DAO to build out the most Ape-worthy staking protocol on the planet,” the company tweeted. “We promise plenty of updates, so stay tuned!”

Moreover, they also explained that the successful implementation of the staking system would take 12-16 weeks, meaning that the $APE community should expect staking sometime between September to November 2022.

ApeCoin fam – we hear you on staking. It’s important and something we want to get right. We’re currently finalizing details that will serve as the basis for a wider update on our progress in line with AIPs-21&22. Expect more frequent updates and collaboration soon. pic.twitter.com/jKi8fZuaqd

— ApeCoin (@apecoin) July 22, 2022

“Staking is important for our community and something we need to get right, we anticipate that a robust staking system will be launched this Autumn.” The statement said

Community’s Disappointment

Following the updates on ApeCoin staking, many in the community expressed their frustration and disappointment at the delay. 

There were lots of complaints that the ApeCoin Foundation didn’t provide enough information in their updates, urging for more answers on dates and stages of development regarding selection, costs, and launch.

The Community also demanded the DAO provide more frequent and transparent updates on the progress regarding the staking going forward.

Would appreciate some transparency.

Date Horizon Labs signed:
Date grant funds sent:
Date dev work began:
Stages of development $current progress?
Terms of agreement &cost?

Why was none of this specified in AIP21? “estimated time frame is 12–16 weeks” when it’s 24-28 weeks?

— SL Addict (@SLAddictNFT) July 22, 2022

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