If you look at ApeCoin (quotation APE), it is noted that things have not gone as planned since its much-publicized launch in mid-March. ApeCoin dropped nearly 80% from its all-time highs, the NFT market collapsed and demand for Bored Ape NFT ran out. It is evident that buying ApeCoin right now is very risky.
However, I am impressed by the amount of innovation that continues to emerge from the Bored Ape Yacht Club ecosystem. The creators of ApeCoin, in collaboration with the creators of the Bored Ape NFT collection, have continually found new ways to reinvent intellectual property and new ways to extend the Bored Ape brand.
And now comes another move that I think could be a huge catalyst for ApeCoin going forward: the introduction of an innovative new rewards program for the staking.
What is it staking and why is it important?
Put simply, it staking it is simply the ability to earn passive income with your own cryptocurrencies. If you own a certain cryptocurrency, you can put it in staking and earn rewards. You still own the crypto, but you can't trade it anymore. It is "locked" for a certain period of time; at the end of the period staking, the original crypto is recovered. Essentially, you earn a reward by letting someone else have access to your cryptocurrency for a short period of time.
Staking by Ape
This is exactly the type of program ApeCoin is planning to make available to token holders. In May, the creators of ApeCoin officially approved a proposal to introduce it staking in the Bored Ape Yacht Club ecosystem. During the summer, the proposed staking it has been periodically updated, but without too many details. On September 3, however, ApeCoin officially presented a preview of the appearance of the program staking. And on September 22, ApeCoin announced that the Ape launch date Staking it will be October 31st.
The absolutely fascinating aspect of the staking of Ape is that it seems to go way beyond the programs of staking traditional. In addition to being able to put in staking your ApeCoins, you can also put in staking your Bored Ape NFT. As seen in the sneak peak earlier this month, there will be four different ones staking pool: a pool for ApeCoin holders only; a pool for holders of Bored Ape NFT; a pool for holders of Mutant Ape NFT; and a “coupled” pool for holders of both ApeCoin and Bored Ape NFT.
This concept of “NFT staking”Is very new and simply brilliant. In a program of staking traditional, it focuses on a cryptocurrency. In this new and more innovative program of staking, you can bet on a cryptocurrency (ApeCoin), a digital asset (a Bored Ape NFT) or both. NFTs are nothing more than tokenized assets on a blockchain, so a new reward structure can be created for them, including the ability to profit from intellectual property within the Bored Ape ecosystem.
