APE Rally Ends As ApeCoin Staking Goes Live?

The pre-commitment period of the ApeCoin staking is now active, according to a statement from Horizon Labs. Starting on December 12, users will be able to accumulate staking rewards.

According to Etherscan, the staking contract’s entire value has been frozen for the first 12 hours at over $16 million.

ApeCoin staking kicks off

To make staking ApeCoin easier, there are four staking pools. For APE holders who don’t have NFTs, there is an ApeCoin pool. This pool’s whole stake allotment is 30 million APE.

Holders of Bored Ape Yacht Club (BAYC) NFTs have access to the Bored Ape pool. The possessor is permitted to stake 10,094 APE for each BAYC they possess. The NFT holders are permitted to invest 2,042 APE per MAYC in the Mutant Ape Yacht Club (MAYC) pool.

For the proprietors of the Bored Ape Kennel Club (BAKC), there is also a matched pool. To benefit from staking, they must combine BAYC or MAYC with their BAKC NFT, though.

Geoblocking prevents users from the US, North Korea, Syria, Iran, Cuba, Russia, Crimea, Donetsk, and Luhansk from accessing the stake UI. The notification claims that certain nations are geoblocked owing to regulatory concerns. The choice to geo-block the U.S. in particular received criticism from the community.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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