Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Markuri33 on September 17, 2022, 02:05:49 PM
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APE is down about 9% today ahead of a significant token unlock for launch contributors—but staking is also on the horizon. ApeCoin, the Ethereum-based token built for the Bored Ape Yacht Club NFT ecosystem, launched to immense hype (and significant paydays for BAYC holders) in March. Now some of the project’s backers are set to reap over $115 million worth of APE tokens as a reward, leaving holders wondering how that unlock might impact the token’s price.
On Saturday, the ApeCoin DAO treasury is expected to unlock 25 million APE tokens allocated for “launch contributors,” which the website notes are the unnamed “companies and people that helped make this project a reality.” The 25 million tokens are set to unlock six months following ApeCoin’s launch, which took place on March 17.more info (https://decrypt.co/109939/apecoin-treasury-unlock-25m-ape-tokens)