"Just bridge" is the mantra echoing across the $APE ecosystem this week after the ApeCoin DAO officially closed its $APE-only staking pool on Ethereum and redirected the remaining rewards to $APE holders who bring their assets to ApeChain.
It’s been just over a day since the ApeCoin DAO closed its $APE-only staking pool on ApeStake.io, inviting holders to claim rewards directly on-chain. So far, this move to ApeChain has created opportunities for insane gains, with bridged $APE earning a 27% yield rate as of November 19th!
“ApeChain has Native Yield,” the DAO tweeted. “This means that you earn yield on your $APE, ETH or stablecoins by just holding it on ApeChain No complicated staking. Just bridge, do nothing, and earn. Bridge now to start earning.”
“There is a money glitch on ApeChain right now,” Ape Express Founder and memecoin expert KOKO explained. “Bridge an asset over to ApeChain with this http://Relay.link Do nothing. Watch your $APE balance grow in your Metamask . Won’t last long.”
Every $APE holder is welcome to join in on this “money glitch” at any time. All they need to do is bridge their coins to ApeChain via the ApeChain portal or through the Relay bridge.
While the shift to ApeChain is exciting, it's worth noting that this bridging requirement only pertains to the $APE-only staking pool. If you're staking $APE in the BAYC, MAYC, or paired BAYC/MAYC Bored Ape Kennel Club (BAKC) pools, you do not need to bridge your coins to continue earning rewards from those pools.
As the Bored Ape Gazette previously reported, the $APE ecosystem is currently in the second year of its staking rewards program. This year, a total of 50 million $APE will be distributed across the four staking pools, with the final Year 2 rewards scheduled for distribution on or around December 8th, 2024.
Looking ahead, once Year 2 ends, an additional 25 million $APE will be allocated across the four staking pools during the third and final staking season, according to the DAO.
