- Starting November 19, $APE staking rewards will shift from Ethereum to ApeChain, requiring holders to bridge their tokens to continue earning rewards.
- ApeChain, built as a Layer 3 solution on Arbitrum, will support ApeCoin’s ecosystem by hosting gaming titles and protocols, offering users a streamlined and cost-effective staking experience.
- While the $APE-only pool moves to ApeChain, the BAYC, MAYC, and BAKC pools remain on Ethereum, allowing users to benefit from reduced gas fees and enhanced staking efficiency on ApeChain.
In a notable move, ApeChain has announced that starting November 19th, $APE staking rewards will shift from the Ethereum mainnet to ApeChain. This transition brings several changes designed to enhance the staking experience for $APE holders, with a streamlined approach to earning native yield directly on ApeChain. So, let us delve into the details and explore everything you need to know to get involved.
Overview of ApeChain
ApeChain is a newly developed Layer 3 solution built on the Arbitrum network. It serves as the foundational platform for the dynamic Ape community and aims to bolster the growth of ApeCoin. ApeChain’s specialized infrastructure is designed to host a variety of upcoming gaming titles and protocols within the ApeCoin ecosystem, ensuring a seamless and efficient gaming experience for its users.
$APE Staking on ApeChain
On November 19, $APE staking will officially transition from Ethereum to ApeChain, marking a significant update for $APE holders looking to maximize their staking rewards. As part of this shift, the $APE-only staking pool on Ethereum will stop distributing rewards, with all staking emissions exclusively directed through ApeChain going forward.
To keep earning $APE staking rewards, holders will need to bridge their $APE tokens to ApeChain. Once bridged, users can follow the usual staking process to begin earning yield automatically with each ApeChain block. It is also important to highlight that this transition does not alter the total emissions amount or the reward schedule. It simply shifts the staking rewards from Ethereum to ApeChain.
Note: Users currently staking in the $APE-pool on Ethereum will stop earning yield once this integration goes live.
How to Stake $APE on ApeChain?
From November 19th onwards, all users can follow the steps below to stake their $APE:
- Bridge $APE to ApeChain (follow the step-by-step guide here for guidance)
- Head over to the official ApeStake website
- Click on “launch app” on the top right corner
- Connect your wallet
- Enter the amount of $APE you would like to stake in the $APE-pool
- Complete the transaction on your wallet
Note: At this time, only the $APE-only pool is transitioning to ApeChain. The BAYC, MAYC, and BAKC pools will continue to operate on the Ethereum mainnet.
Final Thoughts
In conclusion, the shift of $APE staking to ApeChain marks a new chapter for ApeCoin and its community, offering $APE holders a more efficient way to earn staking rewards within the Ape ecosystem. By bridging to ApeChain, holders can maximize their staking benefits and tap into the full potential of ApeChain’s infrastructure. Overall, this is an exciting new addition that provides users with more flexibility in staking and managing their investments. With the move away from Ethereum, users will also benefit from reduced gas fees, making the staking experience smoother and more accessible for all.
Explore more about ApeCoin and its ecosystem through its Twitter.
