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Whales Are Earning $10k+ Per Day With ApeCoin Staking

ApeCoin staking started dishing out the rewards yesterday, and whales are flexing their gains on Twitter.

Dingaling shared a screenshot on Twitter which showed he has earnt 4,383 $APE (or $17,840) in 38 hours by staking his ApeCoin. It’s worth noting you’ll need around $1.5 million worth of $APE to reap those kinds of rewards.

Other personalities on Twitter have also shared more modest rewards. Shwaz is earning $278 per day with just over $40k staked. That’s more than the average daily wage in the US.

ApeCoin can be staked in several pools, with the highest returns going to people who stake their $APE together with their Bored Ape Yacht Club NFTs.

However, a recent dip in the price of $APE (while other cryptocurrencies are up over the last 24 hours) suggests the Ape community might be selling their rewards to fund their Christmas present shopping.

How does ApeStaking work? 

To stake, $APE holders can connect their wallets 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). 

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.

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