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Binance NFT Marketplace Will Launch Ape NFT Staking Program

Binance NFT Marketplace Will Launch Ape NFT Staking Program

2022-12-06 09:08
Fellow Binancians,
To engage the ApeCoin (APE) community, Binance NFT is pleased to announce the Ape NFT Staking Program, scheduled to launch on 2022-12-12 (UTC). The actual launch time is subject to change, and we will notify users on Binance NFT’s Twitter.
Highlights of Ape NFT Staking Program
  • Effective from 2022-12-12 (UTC), or from the time we otherwise notify on Twitter, users may stake their Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs on Binance to earn ApeCoin (APE) daily rewards.
  • Users may choose to stake BAYC or MAYC NFTs for a Flexible Term or Fixed Term of 30, 60, or 90 days.
  • APE daily rewards are subject to the real-time APR displayed on the Ape NFT Staking Program page.
  • Staking for Bored Ape Kennel Club (BAKC) NFTs will be available in the near future.
Users may start depositing their Ape NFTs to Binance using the newly optimized deposit process to prepare for the program’s launch, or purchase Ape NFTs at the Binance NFT Marketplace. Binance NFT will be organizing a separate activity for Ape NFT holders who list eligible Ape NFTs for sale on the Binance NFT Marketplace, with 10,000 APE up for grabs.
For more information on the Ape NFT Staking Program, please refer to the FAQ. Full details on the Ape NFT Staking Program will be available on the program page by 2022-12-12 (UTC).
Activity: List Ape NFTs for Sale at Binance NFT Marketplace to Share 10,000 APE in Rewards
Activity Period: 2022-12-07 00:00 (UTC) to 2022-12-31 23:59 (UTC)
Snapshot Period: Daily
During the activity period, all users who list fixed-price NFTs from the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC) NFT collections for sale on Binance NFT Marketplace, will be eligible to share a total rewards pool of up to 10,000 APE in rewards.
To qualify for rewards, users should list eligible Ape NFTs at a price that is less than or equal to 1.1 times the NFT Floor Price of the corresponding Ape NFT collection. A daily snapshot of all eligible NFT listings will be taken during the activity period, where each eligible NFT listing will entitle the respective NFT holders to entries to the total rewards pool unlocked.
  • Ten entries for one eligible BAYC NFT listing
  • Two entries for one eligible MAYC NFT listing
  • One entry for one eligible BAKC NFT listing.
The number of entries received by each eligible BAYC, MAYC, and BAKC NFT listing is determined by their relative NFT Floor Prices. All qualified users will share the corresponding rewards pool unlocked based on the number of entries collected by each qualified user as a proportion of the total number of entries collected by all qualified users.
Rewards Calculation:
The reward for each qualified user = (Number of entries by each qualified user / Total number of entries by all qualified users) * Total rewards pool unlocked
Dynamic Rewards Pool:
Qualified users can stand to share a total rewards pool of up to 10,000 APE, depending on the total number of eligible Ape NFT listings during the activity period.
Total Number of Eligible Ape NFT Listings
Total Rewards Pool
(in APE)
< 500
5,000
500 - 2,000
6,000
2,001 - 5,000
8,000
> 5,000
10,000
Join the Binance NFT Community on Telegram or follow Binance NFT on Twitter and Instagram for the latest news and updates!
Guides and Related Materials:
Terms & Conditions:
  • The Ape NFT Staking Program will be subject to local restrictions, where applicable.
  • Only users who have completed identity verification will be eligible to participate in the Ape NFT Staking Program. Users who have not completed identity verification, illegally bulk registered account holders and users from restricted countries/regions are not allowed to participate. For more, please refer to Binance Terms of Use, Binance NFT Marketplace Terms of Conditions, and the Binance NFT Staking Terms.
  • APE daily rewards will be automatically distributed to users’ Spot wallets between 00:00 and 08:00 (UTC) on the next day after users stake their Ape NFTs.
  • APR is adjusted daily and the estimated rewards may differ from the actual rewards generated. The specific APR is subject to the page display on the day.
  • Users can choose to redeem their Ape NFTs in advance. After choosing early redemption, the staked Ape NFTs will be returned to users’ accounts. Depending on whether users have staked their Ape NFTs for a Flexible Term or Fixed Term, they may take up to 48 hours or seven days respectively to receive their Ape NFTs.
  • Activity Details:
    • A snapshot of eligible Ape NFT listings will be taken daily during the activity period.
    • Only fixed-price Ape NFTs from the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC) NFT collections which are listed at prices that are less than or equal to 1.1 times the NFT Floor Price of the corresponding NFT collections, will count toward the final calculation of rewards.
    • Please note that Ape NFT listings have to be listed on Binance NFT Marketplace for more than 24 hours to be captured in the daily snapshot.
    • Rewards will be distributed within three weeks after the activity ends. Users will be able to see their rewards by selecting Account Center > Wallet > Transaction History > Distribution.
  • Binance reserves the right to disqualify any participants showing signs of fraudulent behavior immediately.
  • Binance reserves the right to disqualify trades that are deemed to be illegally bulk registered accounts.
  • Binance reserves the right to cancel or amend the Program or Program rules at its sole discretion.
  • Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Binance Team
2022-12-06
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement and the terms hereunder at any time and for any reasons without prior notice.
Risk Warning: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Daily Rewards and APR are an estimate of rewards you will earn in cryptocurrency over the selected timeframe. It does not display the actual or predicted returns/yield in any fiat currency. Daily Rewards and APR are adjusted daily and the estimated rewards may differ from the actual rewards generated. Not financial advice. For more information, see our Terms of Use and Risk Warning.