vEmpire DDAO, the global NFT investment organization, GameFi platform and Metaverse has launched staking for the ApeCoin cryptocurrency. The yield on staking starts in the triple digits, CoinJournal learned from a press release.
Increasing the number and range of use cases
Previously, ApeCoin could only be used for governance-related purposes, giving holders the right to vote on the distribution of ApeCoin ecosystem funds and allowing them to speak on matters related to the ApeCoin DAO.
Now that an APE staking pool has been launched, Apcoin holders can earn interest while gaining more exposure to the ecosystem throughout the year.
providing productive holdings
With each APE stake, Vampire will buy additional assets based on the APE and play games within the Apcoin ecosystem. This will make the APE holdings of the investors productive, enabling them to generate passive income.
Vampire CEO Dominic Ryder said:
Enabling our community to stake $APE is something we believe will be unprecedented. This enables investors to earn financial rewards on their $APE holdings, even with the native functionality that AppCoin does not have. This will help contribute to making investing in Metaverse assets more accessible, profitable and productive. The launch of Apcoin is revolutionary in itself. However, being able to earn passive income on Apcoin ahead of most others in the industry makes us believe it will attract investors the most. vEmpire is committed to providing the best investment opportunities not only to our community but also to the wider Metaverse and NFT communities. This is one of many more exciting staking pools coming up this year.
about appcoin
ApeCoin is an ERC-20 utility and governance token deployed within the wider ApeCoin ecosystem, which has seen massive growth since its launch on March 17th. The coin quickly rose to #45 by market capitalization.
At the time of writing, APE was trading for $12.82 with a 24-hour trading volume of $842 million. Apcoin is down 7.49% today.