Yuga Labs, in collaboration with Horizen Labs, officially launched the ApeStake.io website on December 5, marking the beginning of a one-week pre-staking phase for APE Staking. The official staking rewards for APE tokens will commence distribution on December 12, with an expected APY exceeding 1000%+ based on pre-staking data from December 8.
While the official mining phase hasn’t yet begun—and the APY is anticipated to decrease as more APE tokens and BAYC/MAYC/BAKC NFTs participate—this staking opportunity remains a highly lucrative option for investors and NFT collectors.
This article delves into the official rules of APE staking, associated risks, and four practical methods for participation.
How Does APE Staking Impact the APE Token?
2022 was a challenging year for the NFT sector, but Bored Ape Yacht Club (BAYC) retained its status as a top-tier NFT collection. Despite the underwhelming price performance of its associated token, APE, several market developments have kept holders optimistic.
A key highlight was the introduction of APE staking in late 2022, featuring four staking pools:
- APE Pool (APE tokens only)
- BAYC Pool (BAYC NFT + APE)
- MAYC Pool (MAYC NFT + APE)
- BAKC Pool (BAKC paired with BAYC/MAYC + APE)
The APE Pool, requiring only APE tokens, quickly gained traction, with initial APY exceeding 1000%. Though it has since stabilized at ~113%, the Total Value Locked (TVL) continues to grow, surpassing $37 million.
Official APE Staking Rules: How to Participate
The initial AIP 4&5 proposal for APE staking was rejected by community vote. After extensive discussions, AIP 21&22 was approved, establishing the current staking framework.
Key Details:
- Three-Year Staking Period: Quarterly APE token rewards decline over time, favoring early participants.
Four Independent Pools:
- APE Token Pool: Stake any amount of APE.
- BAYC Pool: Pair BAYC NFTs with APE (capped per NFT).
- MAYC Pool: Pair MAYC NFTs with APE (capped per NFT).
- BAKC Pool: Requires pairing with BAYC/MAYC + APE.
👉 Maximize your APE staking rewards
Risks to Note:
- If an NFT is sold during staking, the paired APE tokens are permanently lost.
- Always unstake NFTs before transferring ownership to avoid penalties.
Top APE Staking Platforms for Maximum Rewards
1. ParaSpace
- Peer-to-Pool Model: Borrow APE tokens against NFTs for staking.
- Auto-Protection: Prevents loss of APE tokens if NFTs are sold mid-staking.
- 30% Extra APY for early participants.
- Audited Contracts by Certik, SlowMist, and others.
2. BendDAO
- Peer-to-Peer Model: NFT holders set reward splits for APE stakers.
- 4% Protocol Fee (DAO-governed).
- Higher Flexibility but potential pairing inefficiencies.
3. Binance NFT
- Simplified Staking: Stake BAYC/MAYC NFTs directly.
- Fixed-Term Options: 30/60/90-day locks for higher yields.
- Centralized Risk: 48-hour withdrawal for flexible staking.
👉 Compare APE staking platforms
FAQ
Q1: What’s the minimum APE staking amount?
- No minimum for the APE Token Pool. Other pools require NFT ownership.
Q2: Can I unstake early?
- Yes, but Binance NFT imposes penalties (e.g., forfeited rewards).
Q3: Is APE staking safe?
- Smart contract risks exist, but audited platforms (e.g., ParaSpace) mitigate them.
Final Thoughts
APE staking represents a pioneering fusion of DeFi and NFTs, offering high-yield opportunities while underscoring the importance of due diligence. As NFTFi evolves, platforms like ParaSpace, BendDAO, and Binance NFT are setting benchmarks for capital efficiency and user security.
For further details, explore our comprehensive guides and stay updated on APE staking trends!