To engage the ApeCoin (APE) community, Binance NFT is pleased to announce the Ape NFT Staking Program.
In order to promote the participation of the ApeCoin (APE) community, Binance NFT Market will launch the Ape NFT staking plan on December 12, 2022 (Eastern 8th District Time).
The actual launch time may change, and users will be notified of details on Binance NFT’s Twitter.
Ape NFT staking program highlights:
From December 12, 2022 (East 8th District time), or from the time notified on Binance NFT’s Twitter, users can stake Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) on Binance NFT to earn daily ApeCoin (APE) rewards.
Users can choose to stake BAYC or MAYC NFT with regular or flexible days of 30, 60 or 90 days.
APE daily rewards are subject to the APR displayed on the Ape NFT reward program page.
The Bored Ape Kennel Club (BAKC) NFT reward program will also be launched later, so stay tuned.
In order to better prepare for the staking plan, users can use the optimized deposit process to deposit Ape NFT to Binance, or purchase Ape NFT on the Binance NFT market. Binance NFT will launch a separate campaign to list eligible Ape NFT holders on the Binance NFT marketplace.
At that time, there will be a total of 10,000 APEs.
More details of the Ape NFT reward program can be viewed on the program page before December 12, 2022 (Eastern Eighth District Time).
Sell Ape NFT on Binance NFT Market and share 10,000 APE rewards
Activity time: 08:00, December 7, 2022 to 07:59, January 1, 2023 (East Eighth District time)
Snapshot cycle: daily
During the event, all users who list Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC) NFT series and sell them at a fixed price will be eligible to share 10,000 APE equivalent total rewards pool.
If the price of the Ape NFT listed by the NFT holder is lower than or equal to 1.1 times the floor price of the corresponding Ape NFT series NFT, the NFT holder will be eligible for rewards.
During the event, daily snapshots will be taken of all eligible listed NFTs, and each eligible NFT will unlock the corresponding total reward pool for the holder.
- List an eligible BAYC NFT to get ten items
- List an eligible MAYC NFT to get two items
- List an eligible BAKC NFT to get an item
The number of items corresponding to each qualified BAYC , MAYC, and BAKC NFT is determined by its corresponding Ape NFT floor price.
All eligible users will share in the corresponding unlocked reward pool based on the number of items collected by each eligible user in proportion to the total number of items collected by eligible users.
Rewards per Qualified User = (Total Items per Qualified User / Total Items for All Qualified Users) * Total Unlocked Reward Pool
Dynamic reward pool:
According to the total number of eligible Ape NFTs listed during the event , eligible users can share a total reward pool of up to 10,000 APE equivalent.
|Total Number of Eligible Ape NFT Listings||Total Rewards Pool (in APE)|
|500 – 2,000||6,000|
|2,001 – 5,000||8,000|
Where applicable, the Ape NFT staking program will be subject to local restrictions.
Only users who have completed identity verification are eligible to participate in the Ape NFT staking program.
Unauthenticated users, account holders with illegal bulk registrations and users from restricted countries are not eligible to participate.
APE daily rewards will be automatically distributed to the user’s spot wallet between 08:00 and 16:00 (Eastern Eighth District Time) the next day after the user stakes Ape NFT.
APR is adjusted daily, and the estimated reward may be different from the actual reward.
The specific APR is subject to the display on the page of the day.
Users can choose to redeem Ape NFT in advance.
After early redemption, the staked Ape NFT will be returned to the user’s spot account.
Depending on whether the user stakes Ape NFT for current days or regular days, it will take 48 hours or 7 days to arrive.
Snapshots of eligible Ape NFT listings will be taken every day during the event.
To qualify for the reward, users must list a fixed-price NFT of the eligible Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC) NFT series on the Binance NFT Marketplace with a price below or It is equal to 1.1 times of the NFT floor price and will be included in the final reward calculation.
Note that listed NFTs must have been on Binance NFT Market for more than 24 hours to qualify for the daily snapshot.
Rewards will be distributed within three weeks after the end of the event. Users will be able to view rewards by selecting Account Center > Wallet > Transaction History > Distribution.