Binance NFT Marketplace to Launch Ape NFT Staking Program

Cryptocurrency exchange, Binance, have announced a new staking program that will be exclusive to all APE NFT holders. Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) holders will be able to stake their NFTs in order to earn daily ApeCoin (APE) rewards. From the date of the launch, set for the 12th December this year, users will be able to choose to stake their NFTs on a flexible basis or for a fixed term of 30, 60 or 90 days.

Binance have announced that staking for the Bored Ape Kennel Club (BAKC) will be available in the near future, and that holders of BAYC, MAYC and BAKC who use the Binance NFT Marketplace for listing their apes are in with a chance to be rewarded, with 10,000 ApeCoin up for grabs. Although Binance are looking to entice users into utilizing their own NFT marketplace, there are some stipulations; users taking part in this will need to list their NFTs within a certain time period for at least 24 hours and for no more than 1.1 times the floor price of the collection. Listing a BAYC guarantees 10 entries, MAYC guarantees 2, and BAKC entitles users to 1 entry.