The ApeCoin community has voted in favor of three proposals linked to staking ApeCoin (APE) and restructuring its governance. The AIP-21 and AIP-22 staking proposals have received 91.55% and 91.17% votes in favor, respectively. Meanwhile, the AIP-7 on the restructuring of the forum has received 99.5% votes in favor.
Staking on ApeCoin and the Bored Ape Yacht Club (BAYC) NFT ecosystem and changing the structure of the forum will further grow the popularity of APE. Also, it will help ApeCoin become the preferred token in web3 and NFT space.
ApeCoin Community Passes Staking and Forum Restructuring Proposals
ApeCoin DAO tweeted on Thursday that the AIP-21/22 proposals on staking and the AIP-7 proposal on the restructuring of the ApeCoin forum have been approved after massive voting by the ApeCoin community. The three AIPs received more than 15 million ApeCoin (APE) in total.
The AIP-21 proposes a staking process with caps for ApeCoin and the Bored Ape Yacht Club (BAYC) NFT ecosystem. It incentivizes existing and potential users of ApeCoin, Bored Ape Yacht Club, Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC) NFTs to receive APE in the initial period of 12-months.
Moreover, the AIP-21 ensures that the staked NFTs remain tradable and growth of the BAYC ecosystem isn’t impacted by the lockup of staked assets.
Trending Stories
The AIP-22 proposes total ApeCoin allocation for staking pools and a three-year duration of staking period. It recommends distributing 17.5% of the total ApeCoin (APE) supply in the staking pool for 3 years. The distribution of ApeCoin tokens will be 100 million in 1st year, 50 million in 2nd year, and 25 million in 3rd year.
The AIP-7 suggests a change in the structure of the ApeCoin forum. The aim is to improve the proposal process, governance, education, and community. Moreover, it promises discussion about AIP-related topics, workstreams on work by the DAO, and community growth.
The ApeCoin DAO will implement all three AIPs in line with DAO governance protocols.
ApeCoin (APE) Price Continues Uptrend
The ApeCoin (APE) price has increased nearly 20% in the last 24 hours. However, the APE price is still down from its recent high of nearly $26. Despite the fall in prices after the Otherside metaverse launch, ApeCoin continues to move up as its popularity rises amid NFT and metaverse hype.
The staking and forum structuring will possibly bring more uptrend in the APE prices as staking will incentivize all users.
- Incoming Shiba Inu Rally? Over 22 Billion SHIB Tokens Burned Across 497 Transactions
- French Luxury Brand Balenciaga To Accept Crypto Payments In U.S.
- PayPal May Soon Accept All Forms Of Crypto Reveals Vice-President
- Crypto Analyst Predicts What Will Kickstart Next Bitcoin Bull Run
- Breaking: S. Korean Exchanges Redflag Litecoin Mimblewimble Update; May Delist LTC
- Just-In: PlanB Reveals Bitcoin S2F Prediction For 2024 Halving
- Heavy Outflows Force Investors to Seek Refuge In Multi-crypto Investment Products
- PlanB: When Will Bitcoin (BTC) Price Cross $500K?
- Case Study: P2E Gaming Projects Tackling The Barriers To Web3 Mass Adoption
- Just-In: Indian Central Bank Head Bashes Crypto After Latest Crash
- Ethereum Price Analysis: Triangle Pattern Foretells Upcoming Rally in ETH
- Zilliqa Price Analysis: Channel Breakout Hints ZIL Price to hit $0.1
- Bitcoin Price Analysis: Trapped Bullish Momentum Need Triangle Breakout
- FTM Price Analysis: Buyers Tease Breakout From Long-Coming Trendline
- GALA Price Analysis: High Momentum Fallout Warns $0.075 Fallout
- Solana Price Prediction 2022: Bulls to drive SOL Price to new Highs?
- Theta Price Prediction 2022 : Analysts Insights into the crucial Reversal levels
- Sandbox Price Prediction 2022 : Analysts Show Optimism Towards The Metaverse SAND Token
- Apecoin Price Prediction 2022 : The future of Web3 and NFTs ?
- Ethereum Classic Price Prediction 2022 : Here’s What to Expect from ETC Price ?
