APE Staking: Ecosystem Game-Changer 🚀

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Early this week, the much-hyped APE staking contract hit mainnet after testing and audits. Users jumped in through ApeStake.io. Rewards are piling up. Let's see how things are going with the first staking wave.

Breaking Down APE Staking 🔍

The system has 4 pools. Each works differently:

  1. ApeCoin Pool 💰: For everyone with APE tokens. No NFTs needed.
  2. BAYC Pool 🐵: Got a Bored Ape? Stake up to 10,094 APE per ape.
  3. MAYC Pool 🧪: Mutant Ape owners can stake 2,042 APE per mutant.
  4. BAKC + BAYC/MAYC Pool 🐕: Pair your Dog NFT with a Bored or Mutant Ape. 856 APE per pair.

The whole thing will hand out 175 million APE over 3 years. First year gets 100M. Next year 50M. Final year just 25M.

Rewards aren't equal. ApeCoin Pool always gets 30% of yearly rewards. The other pools? It's kind of complicated. They shift based on what the NFTs were worth last quarter. Expensive NFTs mean bigger slices of the pie.

Right now, there's 5,377,915 APE staked:

  • ApeCoin pool: 1,488,361.1 APE (27.6%)
  • BAYC pool: 2,792,046.26 APE (51.9%)
  • MAYC pool: 887,965.84 APE (16.5%)
  • BAKC pairs: 213,798.2 APE (3.9%)

Looks like Q1 2025 had 3.8 million APE rewards claimed. BAYC holders grabbed most of it - 70.9%. MAYC got 20.7% 🌕

Security Issues Exposed Through Arbitrage ⚠️

People warned about keeping NFTs listed while staking. Many didn't listen. Bad move.

Some traders got creative. One grabbed a flash loan for 82 ETH, bought BAYC #6762 with 6,400 staked APE attached. Sold the APE for 20 ETH. Flipped the ape for 68 ETH. Quick 6 ETH profit.

Others copied this trick. Someone else borrowed 90 ETH, bought BAYC #1633 with 10,000 staked APE, swapped those tokens for about 32.68 ETH, then sold the NFT for 65 ETH. Easy 7 ETH.

Pretty clever moves, I guess. But it seems these "hacks" showed a real problem with the staking setup. Some folks lost money. Not what ApeCoin DAO intended when creating this reward system. The whole thing needs work 🔥

APE price might hit anywhere from $0.54 to $10.63 by 2025. Dilution risks exist now, but ApeChain adoption could change everything. The ecosystem's evolving beyond just staking, which is not entirely surprising.

APE-3.62%
ETH-3.67%
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