OH DAM!: The Digital Art Movement's $DAM Staking Is Heading To ApeChain Later This Week!

Oh ‘DAM,’ the Digital Art Movement is heading to ApeChain this Wednesday, and every $Ape holder is invited to stake their coins in a time-locked contract for guaranteed fractional ownership of arguably the best NFT collection in Web3, all while still receiving their usual $Ape staking yield!

On Monday, MachiBigBrother’s ApeCoin DAO-funded Digital Art Movement took to the timeline to announce that it's migrating from Blast and Ethereum mainnet to ApeChain later this week and that everyone will be able to deposit their $Ape starting Wednesday and begin accumulating $DAM by Friday!

 “$DAM migration to ApeChain is upon us,” the project tweeted early this morning. “All $DAM on @blast will be migrated automatically via an airdrop, based on the balance held in your wallet at the time of the snapshot. Please remove your LPs in Thruster and Hyperlock. Snapshot will take place 4/25 0400 UTC on Friday. ApeCoin deposits will open on ApeChain at Wednesday 4/23 1500 UTC at http://app.damdao.org. $DAMdistribution begins 4/25 Friday 1500 UTC. This gives everyone 48 hours to deposit before distribution starts. Our deposit contract on Apechain will allow ApeCoin stakers to earn both ApeCoin yield and $DAMdistribution. “

 

 

As the Bored Ape Gazette previously reported, the ApeCoin DAO voted to allocate 11 million $Ape to the Digital Art Movement in September 2023 to purchase NFTs, create a staking mechanism that gives the community the chance to own and control the collection,  and work to get Bored Apes and other digital assets showcased in museums, galleries, and schools.

Today, the Digital Art Movement is in talks with the Belvedere Museum, LACMA, MoMA Shanghai, MUCA in Munich, and the Bowers Museum to exhibit its extensive collection that includes: 217 Bored Apes, 20 Mutant Apes, CryptoPunk #1219, Fidenza #229, Ringers, Winds of Yawanawa, Where My Vans Go, Anticyclone, Themes and Variations, Meridian, Chromie Squiggle, The Harvest, Life in Japan Editions, Memories of Qilin, Damien Hirst’s The Currency, QQL Mint Pass, Singularity, and a Trichromatic.

Take a look at the collection below:

 

The Bored Ape Gazette will continue to follow DAM’s staking system as it moves to ApeChain and will let you know how to deposit your tokens when the window opens this Wednesday. Stay tuned for updates!