Is It The End of the ApeCoin Rally? The Staking Is Live!

SNEAK PEEK

  • From December 12th, the ApeCoin stakes will begin with acquiring stake rewards.
  • Some country users, like the United States, feel other countries are blocked from the facility of staking as per the “Today’s Regulatory Environment.”
  • The final question is about the ApeCoin rally with the live stake.

ApeCoin staking is now live after much anticipation about it. Horizon Labs announced that the pre-commitment period of staking the APE id is now live on the website apestake.io. The users from December 12 can accrue the stacking rewards. Etherscan announced that the staking contract goes over $16 million in total locked value.

To facilitate ApeCoin staking, there are four staking pools. These pools are for the holders of APE without any ownership of NFTs. A total of 30 million APE is allocated for stacking. The holders of Bored Ape Yacht Club (BAYC) NFTs’ come under the Bored Ape pool. This pool lets them stake 10,094 APE for each BAYC NFT they hold.

In the same way, holders of Mutant Ape Yacht Club, also known as MAYC. Its NFT holders stake 2042 APE per MAYC. There is another pole called Bored Ape Kennel Club, also known as BAKC pool for the owner of its NFTs. But this club doesn’t get the benefits directly. They have to pair their NFTs with BAYC and MAYC to be able to reap the benefits of Staking.

Also Read: Binance announces launching an Ape NFT Staking Program on December 12

Countries like the United States of America, North Korea, Syria, Iran, Cuba, Russia, Crimea, Donetsk, and Luhansk were geo-blocked after this announcement and won’t use staking. There were statements that these countries were blocked due to some regulatory issues. The community worried about the US’s blocking.