dev.apestake.io Open in urlscan Pro
2606:4700::6812:14b  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Launch App


FREQUENTLY ASKED QUESTIONS

WHAT IS APESTAKE.io?


ApeStake.io is the official staking protocol for ApeCoin ($APE) established by
the ApeCoin DAO (ApeDAO) and was created as a way for $APE, BAYC, MAYC, and BAKC
holders to earn rewards through staking. $APE can be staked by itself or in
conjunction with a BAYC, MAYC, or BAKC in one of the four staking pools, with
each pool offering different levels of rewards.

The ApeStake.io protocol was proposed in AIPs 21 and 22 and subsequently
approved by the community on May 4, 2022. Following approval, the Ape Foundation
enlisted Horizen Labs to provide a platform for the staking protocol according
to the specifications set forth in the AIPs.

To help clarify terminology, the AIPs provided definitions for some important
terms:

 * Staking Pools: The total ApeCoin pools that participants can earn from.

 * Staking Pool Type: The pool is specifically assigned to a digital asset
   class; there are four in total.

 * Staking Period: Each period is 12 months.

 * Staking Pool Allocations: The total amount of ApeCoin allocated to each
   Staking Pool Type per period.

 * Total Staking Period: A total of three (3) years.

 * Initial Staking Period: The first 12-month period of staking.

 * Pool Distribution: The spread of the staking allocation assigned across the
   period.

 * Incentive Distribution Curve: The schedule of ApeCoin allocated for
   incentives per quarter.

What browsers and devices support Apestake.io?

Any desktop browser that contains Metamask or WalletConnect integration will
allow you to stake $APE. For mobile devices, only the browser in Metamask’s iOS
or Android application will support staking $APE.
HOW DOES APE STAKING WORK?


ApeStake.io allows holders of $APE to put their idle tokens to work by staking
them within various pools and earning additional rewards in the form of more
$APE.

ApeStake.io is more than just a simple staking protocol. It has the distinction
of offering layers of rewards for holders of certain NFTs. Operating like a
safe-deposit box key, these NFTs grant holders access to exclusive staking
pools.

Below is a breakdown of the four staking pools and their total allocations as
specified in AIP 22 for Year 1:

 * $APE Staking Pool: 30,000,000 $APE Tokens

 * BAYC Staking Pool: 47,105,000 $APE Tokens

 * MAYC Staking Pool: 19,060,000 $APE Tokens

 * BAKC Staking Pool: 3,835,000 $APE Tokens

ARE THERE ANY LOCK UP PERIODS TO STAKE INTO ANY OF THE POOLS?


No, there are no lock up periods. You can add and remove $APE to any of the
available pools at any given time.

Why do I have to give the smart contract approval to spend $APE on my behalf?


When a user deposits ApeCoin, the staking smart contract must transfer tokens
out of the user's wallet and into the contract itself. This action cannot be
taken unless the user grants specific permission.

This action will modify the state of the ApeCoin ERC-20 contract, which is why
it will incur a small gas fee. See here for more details about ERC-20 allowance

What happens when I sell my NFT while it is committed?


WE STRONGLY RECOMMEND THAT YOU UNCOMMIT YOUR BAYC, MAYC, OR BAKC PRIOR TO THE
SALE.

 * If I sell my NFT while it is committed in a BAYC or MAYC pool, will I lose
   all of my staked $APE?

YES, YOU WILL LOSE YOUR STAKED $APE. Think of your BAYC or MAYC like a box that
holds your $APE. If you sell the box, the new owner gets the box plus all of its
contents. So, if you’re about to sell your BAYC or MAYC, WE STRONGLY RECOMMEND
THAT YOU UNCOMMIT YOUR NFT PRIOR TO THE SALE. This will ensure a clean deposit
into your wallet of both your staked and earned rewards. If you happen to sell
your NFT and forget to uncommit it, the new owner has the ability to uncommit
it, and as the NFT is transferred to the new owner, so too will transfer your
staked $APE and rewards.

 * If I sell my NFT while it is committed in a Paired pool, will I lose all of
   my staked $APE?

Similarly, new owners will have rights to the staked position, with a few
caveats.WE STRONGLY RECOMMEND THAT YOU UNCOMMIT YOUR NFTs PRIOR TO THE SALE.

For the Paired Pool, the owner of the BAYC or MAYC is entitled to the staked
amount, whereas the owner of the BAKC is entitled to any unclaimed rewards
associated with the staking position.

Why is ApeStake.io not available in the United States or Canada? Which other
countries are geoblocked?


Due to the current regulatory uncertainty surrounding reward pools, ApeStake.io
is not available within the United States or Canada. We’re actively tracking new
legislation and regulatory guidance as it’s released, and as soon as we can make
ApeStake.io available to U.S. and Canadian residents in a legally compliant way,
we will do so.

Other countries where ApeStake.io is unavailable include:

 * North Korea

 * Syria

 * Iran

 * Cuba

 * Russia

 * in Ukraine: Donetsk, Luhansk, and Crimea

What is ApeCoin ($APE)?


ApeCoin (trading symbol: $APE) is the official token of the ApeCoin DAO (ApeDAO)
and was created as a way to expand the Bored Ape Community by offering new
avenues of participation beyond simply buying, owning, and trading BAYC, MAYC,
or BAKC NFTs. Holders of $APE may issue and vote on proposals designed to
improve the value and utility of the Ape ecosystem.

Without getting too technical, $APE is an ERC-20 governance and utility token of
the Ape ecosystem. The ApeCoin website sums up the DAO’s responsibility like
this:

 * The ApeCoin community governs itself via the ApeCoin DAO, the decentralized
   governance framework that supports the Ecosystem Fund. The DAO follows a
   proposal process to vote on how the Ecosystem Fund will be distributed by the
   APE Foundation to promote a diverse and self-sustaining ecosystem.

WHERE CAN I BUY $APE AND HOW DO I USE IT FOR STAKING ON APESTAKE.IO?


There are various centralized exchanges that can be used to buy $APE such as
Coinbase, Binance, and many others. In order to use it for staking, you will
need to transfer the $APE that was purchased on a centralized exchange to a
crypto wallet. We support Metamask as well as any wallet that is supported by
Wallet Connect.

HOW DO I STAKE $APE?


Please use the following User Guide which will walk you through the staking
process.

HOW DO I USE A HARDWARE WALLET?


We allow integration with hardware wallets via Metamask and Wallet Connect. Note
that in order to process a transaction with your hardware wallet, you will need
to approve the transaction on the device it is connected to. Your transaction
will remain pending until you do so.

CAN I USE A MOBILE BROWSER TO STAKE $APE?


We only support staking $APE from the browser within the Metamask native
application. If you are having difficulty using this, we recommend using a
desktop device.

How much can I earn by staking my $APE?


Plenty. AIP 22 was specific in detailing the pace at which the different staking
pools distribute rewards, though the rate varies depending on how much $APE is
staked at any given time across the four pools. Also worth noting, ApeDAO
reserves the right to change the staking allocation at any time. The table below
illustrates this:

Without getting too technical, $APE is an ERC-20 governance and utility token of
the Ape ecosystem. The ApeCoin website sums up the DAO’s responsibility like
this:


WHAT IS THE DIFFERENCE BETWEEN TOTAL AMOUNT STAKED AND ALLOCATED AMOUNT?


The Total Amount Staked is the total $APE that is currently being staked in a
given pool by its users. The Allocated Amount is the amount of $APE that will be
given to users who participate in the pool for a given period of time. These
amounts are not related.

What are Bored Ape Yacht Club NFTs?


Bored Ape Yacht Club
Launched in April 2021 by Yuga Labs, the Bored Ape Yacht Club (BAYC) is a
collection of 10,000 NFTs. These unique digital collectibles live on the
Ethereum blockchain and represent the most successful NFT collection in history,
with sales of individual NFTs reaching $2.3 million dollars at auction. The
collection gave rise to a thriving community of Ape NFT enthusiasts.

Bored Ape Kennel Club
Shortly after the launch of the BAYC collection, Yuga Labs launched the Bored
Ape Kennel Club in June 2021, an NFT collection of 9,602 unique dogs, which were
not available for sale but rather only offered to those who held a Bored Ape NFT
in a wallet. The collection was intended to serve as companions to the original
Bored Apes.

Mutant Ape Yacht Club
In August 2022, Yuga Labs launched its third NFT collection, the Mutant Ape
Yacht Club (MAYC) a popular offshoot of BAYC and BAKC. 20,000 MAYCs were issued
with half being auctioned off while the other half were allocated to the holders
of Bored Apes.

All three NFT collections leverage the widespread ERC-721 token standard
employed by the Ethereum blockchain. And just in case you’re new to this crypto
stuff, NFTs are unique digital tokens that can be used to prove ownership of an
asset or item. This can include a work of digital art, a document, or a digital
title.

Do I need to own an Ape, Mutant, or Dog to stake $APE?


No. Any $APE holder can stake their $APE and accumulate rewards. In fact, all
staking on the ApeStake.io site consists of staking actual $APE. It’s only the
presence of an NFT in a wallet that provides holders with access into different
staking pools and reward levels.

How is the staking value calculated?


Here’s what AIP 22 has to say about the fluctuating value of staked assets:

 * The Staking Pool Allocations for Staking Periods following the Initial
   Staking Period will be determined by the market prices of the BAYC, MAYC, and
   BAKC NFTs. An average price during Q4 of the previous Staking Period will
   determine the ratio allocated to each of the Staking Pool types. The $APE
   Staking Pool will remain constant at 30%. Note: The BAKC Staking pool can
   only be utilized if a BAKC NFT is being paired 1:1 with a BAYC or MAYC NFT.

As an example, the chart below provides a visual representation of the staking
values for Year 1:


What are the risks of staking with ApeStake.io?


All staking protocols come with some measure of risk and none are 100% secure.

To help mitigate these risks, Horizen Labs has gone to great lengths to protect
your staked tokens with measures that include:

 * Smart Contract Audit: The smart contract developed by Horizen Labs has been
   audited by the security firm Halborn and the audit report can be found here.

Again, in spite of these measures, risks of staking on ApeStake.io exist. These
risks could include but are not limited to events like:

Forfeiture of Tokens
When you stake tokens, they technically move outside of your control and become
part of the block forging rewards mechanism. While security measures have been
implemented, there remains a non-zero risk that staked tokens may be vulnerable
to hacks or undiscovered bugs, which could lead to a total loss of your tokens.

Smart Contract Security
Code is written by humans, so naturally there is an ever-present risk that
ApeStake.io could contain a smart contract vulnerability or bug. ApeStake.io’s
code is open-sourced and audited by Halborn, crypto’s leading security auditing
company.

NFT Transfers of Ownership
See FAQ question: “What happens when I sell my NFT while it is committed?”

What fees are associated with staking $APE on ApeStake.io?


The only fees that apply are normal transaction gas fees on the Ethereum
network.

Which proposals brought ApeStake.io into existence?


APE Improvement Proposals (AIPs) number 21 and 22 were submitted by giacolmo.eth
and approved by the Ape Community on May 4, 2022. Here are some additional
details from the AIP:

Community Forum

The ApeCoin community governs itself via the ApeCoin DAO, the decentralized
governance framework that supports the Ecosystem Fund. The DAO follows a
proposal process to vote on how the Ecosystem Fund will be distributed by the
APE Foundation to promote a diverse and self-sustaining ecosystem.

AIP 21

This AIP proposes a staking system for ApeCoin and the Bored Ape Yacht Club
(BAYC) NFT ecosystem. See full proposal for AIP 21.

AIP 22

This proposal presents the total ApeCoin allocation for the staking pools and
the three-year duration of this staking period. See full proposal for AIP 21.

F.A.Q.

©2023 HORIZEN LABS

Contract Address: 

0xeF37...26D4


TERMS OF SERVICEPRIVACY POLICY