- Horizon Labs has been selected to build and handle the staking system.
- According to the ApeCoin DAO, the staking system is expected to launch this Autumn.
- The community is disappointed about the delay and has asked for timely and transparent updates.
About two months back, the $Ape community voted and approved a pair of staking proposals. According to the latest update, the Ape Foundation has announced who will create the staking system. With this, it has updated holders on when to initiate staking the coins.
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
The $Ape community voted for AIP-21 “Staking Process with Caps” and AIP-22 “Staking Pool Allocation Reloaded- Ecosystem Fund Allocation.”
Both the proposals were cleared with about 90% support from the community.
Upon passing AIPs 21&22, the community asked the foundation for a staking system that fulfills extremely particular guidelines.
The initial step of the Foundation was to look for a partner who can deliver a staking system in line with AIPs 21&22. Several responses were received after calling for the bids and each of them was carefully assessed and evaluated.
The Foundation has finally selected Horizen Labs to build and manage a staking system.
The Foundation has selected Horizen Labs to receive the grant to develop the ApeCoin staking system. Work is well underway in line with AIPs 21&22. More frequent updates are forthcoming as we close in on this exciting community achievement. https://t.co/4EcoUmSySQ— ApeCoin (@apecoin) July 22, 2022
Horizen Labs also shared the partnership through a Twitter post.
According to the Meteorological office of the United kingdom’s definition of Autumn, the staking is expected to launch between September 23 and December 21, 2022. However, the community isn’t happy about the delay.
The Bored Ape Gazette is trying to find out more details about staking and the process.