$APE staking went live this week, and it’s fair to say that uptake has been strong.
It’s been barely two days since ApeCoin staking went live, and nearly $40m in $APE has been staked. That’s around 3% of the circulating $APE supply.
To stake, $APE holders can connect their wallet and stake the desired amount on ApeStake.io. There are a number of countries geo-blocked from using ApeStake.io, including the US and Canada. However, $APE holders from those geo-blocked countries can stake through third-party interfaces (please DYOR if you decide to do this).
Why would anyone stake their ApeCoin?
Rewards baby.
ApeCoin rewards, known as $APE staking emissions, are 17.5 percent of the total supply of the $APE token and will be distributed over a three-year period.
Bored Ape, Mutant Ape, and Kennel Club holders can also commit their NFTs to increase their returns.
In the first year of staking, 100 million $APE will be released across all the staking pools. There are four staking pools:
- BAYC Pool: 47,105,000 tokens (47.1%)
- MAYC Pool: 30,000,000 tokens (30%)
- BAYC/MAYC + BAKC Paired Pool: 19,060,000 tokens (19.06%)
- $APE-only Pool: 3,835,000 tokens (3.83%)
Staking rewards are directly proportional to the amount of $APE you have staked in each pool.
