BAYC and Ape Staking
How is the $APE Ecosystem Shaping Up?
Introduction
ApeCoin (APE) is a governance and utility token that grants its holders access to the Ape DAO, a decentralized community of Web3 builders who created the iconic Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC) NFTs. In addition to participating in ApeCoin governance, token holders can purchase products and services, and pay for in-game assets in play-to-earn games like Benji Bananas by Animoca Brands. Staking for Ape DAO recently went live on December 5th 2022 and users have the options of staking , and ApeCoin.
APE has a fixed issuance of 1 billion tokens, with initial allocations broken down as follows:
62% of total allocations were made to the ApeCoin Ecosystem. Out of this, BAYC/MAYC NFT holders were airdropped 15% of the tokens while 47% were reserved for ApeDAO treasury and resources.
The remainder of the tokens is split between Yuga Labs (10%), Charity (Jane Goodall Institute) (6%), launch contributors (14%), and BAYC founders (8%).
![db_img](https://uploads.flipsidecrypto.com/product/images/7FdBahanA55s.png)
At launch, roughly 26% of the total token supply was unlocked. The remainder of the tokens is unlocked over 48 months. An average of 1.5% of the supply becomes unlocked every month.
Moving on to $APE staking and unstaking activity which went live on December 5, 2022, we can see there’s already some hype building around it although an official staking frontend is yet to be launched. So far, there has been about 10 million $APE tokens staked so far with USD value of about $40m.
References
This research was conducted on the back of previous works published by Messari, and extraordinary crypto data analysts like Jacktheguy, Alik110, and nits2k.
So far, 144M $APE tokens have been claimed by about 16.4k distinct addreses. Looking at the chart above showing $APE claims over time, we can see that majority of the claims were made in the first few days.
As mentioned earlier, users have four (4) staking pool options, namely BAYC Pool, MAYC Pool, BAKC Pool, and APE Pool. The pools are for their respective assets only. The projected APY are as follows.