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Introduction
With the launch of the ApeCoin staking program, BAYC and MAYC holders have an enormous opportunity at making their NFTs work for them and earn yield with a killer combo.
JPEG’d borrowers with Yuga Labs NFTs as collateral already can enjoy the benefits of The Citadel(45% APR at the date of publication). From now on they can also commit their Yuga NFTs in the APE staking program pools and earn the combined APR of The Citadel and ApeCoin staking. There is no fee for this service.
How it works
The NFTs never leave the JPEG’d vaults, they are the key to accessing the desired pools. The staked $APE, the rewards and the eventual paired BAKC will be automatically returned to the owner of the position either upon closing their borrowed position and withdrawing their NFT from the JPEG’d vaults or in the event of liquidation.
The rewards can be claimed any time as long as the position is open on JPEG’d and compounded if the max staked is not reached. It’s also possible to manage several staked positions thanks to the JPEG’d Whale Mode.
This makes the JPEG’d vault a very secure and attractive place to deposit your beloved primate.
About the ApeCoin Staking program
100 million $APE tokens will be distributed across the different staking pools during the first year. Staking rewards will be distributed proportionally to the total amount of staked $APE in each pool. The highest percentage owned of the pool ensures the maximum rewards. The first 90 days will have the highest rewards, and the rewards will decrease with each epoch.
There are 4 pools with different rewards, 3 of which are available on JPEG’d:
- Single staking BAYC Pool: 47,105,000 tokens (47.1%)
- Single staking MAYC Pool: 30,000,000 tokens (30%)
- Paired staking BAYC/MAYC + BAKC: 19,060,000 tokens (19.06%)
Each pool has a staking cap per NFT:
- Single staking BAYC Pool: 10,094 $APE
- Single staking MAYC Pool: 2,042 $APE
- Paired staking BAYC/MAYC + BAKC: +856 $APE
This cap is also valid for each of the positions with comitted BAYC/MAYC on JPEG’d.
How to stake $APE and commit a BAYC/MAYC
Open an active BAYC/MAYC position on JPEG’d and click Commit.
Confirm the amount of $APE token to deposit.
Your BAYC and APE are now staked and earning APE rewards.
Manage Staked Ape
Open a position with staking active and click the Manage BAYC button
The Manage Modal allows users to deposit, withdraw, claim APE rewards they have in deposit
Pair and Manage BAKC
It is also possible to pair a BAKC to earn extra yield. This is also doable while the NFT is on a position on JPEG’d.
Open a position with staking active and click the Manage BAKC button
If you have BAKCs in your wallet they will show and you can select which BAKC to pair with your commited BAYC.
Once paired, you can at all times manage the pared BAKC by clicking the Manage BAKC button and using the following modal
Congratulations you are now earning yield on JPEG’d and via APE staking.
