vEmpire DDAO, the global NFT investment organization, GameFi platform, and metaverse, has introduced staking for the ApeCoin cryptocurrency. The yield on staking starts in triple digits, CoinJournal learned from a press release.
Growing the number and range of use cases
Previously, ApeCoin could only be used for purposes related to governance, giving holders the right to vote on ApeCoin ecosystem fund distribution and allowing them a say in matters related to the ApeCoin DAO.
Now that an APE staking pool has been launched, ApeCoin holders can earn interest while obtaining greater exposure to the ecosystem throughout the year.
Rendering holdings productive
With each APE staked, vEmpire will buy additional assets based on APE and play games within the ApeCoin ecosystem. This will make investors’ APE holdings productive, enabling them to generate passive income.
vEmpire CEO Dominic Ryder said:
Enabling our community to stake $APE is something that we believe will be groundbreaking. It enables investors to earn financial rewards on their $APE holdings in ways that even ApeCoin doesn’t have native functionality for. This will help contribute to making the investment in Metaverse assets more accessible, rewarding, and productive. The launch of the ApeCoin itself is revolutionary. However, being able to earn passive income on the ApeCoin before most others in the industry is what we believe will attract investors the most. vEmpire is committed to offering the best investment opportunities to not only our community but the wider Metaverse & NFT communities too. This is just one of many more exciting staking pools coming this year.
About ApeCoin
ApeCoin is an ERC-20 utility and governance token deployed within the wider ApeCoin ecosystem, which has undergone huge growth since its launch on March 17. The coin quickly soared to #45 by market cap.
At the time of writing, APE was trading for $12.82 with a 24-hour trading volume of $842 million. ApeCoin is down 7.49% today.
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