vEmpire DDAO, the global NFT investment organization, GameFi platform, and metaverse, has launched staking for the ApeCoin cryptocurrency. According to a press release seen by CoinJournal, staking yields start in the triple digits.
Expanding use cases and reach
Previously, ApeCoin could only be used for governance-related purposes, giving holders the right to vote on allocations from the ApeCoin ecosystem fund and allowing them to participate in decisions related to the ApeCoin DAO.
With the introduction of an APE staking pool, ApeCoin holders can now earn interest while maintaining exposure to the ecosystem throughout the year.
Making assets productive
For each APE staked, vEmpire will acquire additional APE-based assets and participate in games within the ApeCoin ecosystem. This approach aims to make investors’ APE holdings productive and capable of generating passive income.
vEmpire CEO Dominic Ryder said:
Enabling our community to stake $APE is something we believe will be groundbreaking. It allows investors to earn financial rewards on their $APE holdings in ways that even ApeCoin’s native functionality does not provide. This will help make investing in metaverse assets more accessible, rewarding, and productive. The launch of ApeCoin itself was revolutionary. But the ability to earn passive income on ApeCoin before many others in the industry is what we think will attract investors most. vEmpire is committed to offering the best investment opportunities not only to our community but also to the wider metaverse and NFT communities. This is just one of many exciting staking pools coming this year.
About ApeCoin
ApeCoin is an ERC-20 utility and governance token deployed within the broader ApeCoin ecosystem, which has seen significant growth since its launch on March 17. The token quickly rose to #45 by market capitalization.
At the time of writing, APE traded at $12.82 with a 24-hour trading volume of $842 million. ApeCoin was down 7.49% on the day.