ApeCoin staking can get quite complicated, so we’re here to simplify it. Below are simple guides for each specific staking case. There are four in total, but each fulfills a specific need. If you want to earn $APE while retaining voting power on earned $APE, there is an option. If you'd like to earn $APE for free with your NFT, there is another option for this too.
For details on how ApeCoin staking works and the mechanics behind the Horizen Labs contracts, please read our previous article here.
On Cyan, you can stake your $APE directly into the Horizen Labs contracts. The benefit is easier tracking, and more options for you in the future if you’d like the bells and whistles. Straight staking allows you to keep your voting power, and also earn $APE as yield.
Simply head to the ApeStaking dashboard, and select the button in ApeCoin Staking.
From here, you’ll input the amount of $APE to stake from your Main and Cyan wallets. To keep earned $APE for voting power, keep the toggle off on “Reward APE to Cyan Vault”. By turning this on, the earned $APE will get deposited into the vault for a higher yield. Once you’re staked, head to the My Rewards tab to view the position.
The highest yield possible for staking only with Apecoin would be the Cyan ApeCoin Staking Vault. This vault automatically compounds the staking of $APE into the Horizen Labs contract, while lending out $APE to those who have a BAYC, MAYC, or BAKC to stake with. The yield on staking with NFTs is higher, and this yield is shared between the NFT owners and the lenders of $APE from the vault. As the $APE gets deposited into the vault and doesn’t stay in your wallet, you will lose voting power for the ApeCoin DAO for higher yields.
You can access the Cyan ApeCoin Staking Vault from either the Lend page or the ApeStaking page. Coming from the ApeStaking page, click on the top button in the ApeCoin Staking card.
Staking from here is very simple. Type in the amount of $APE to stake, and click “Stake” when ready.
You can always unstake this position to receive your $APE and interest back to regain voting power in the ApeCoin DAO.
If you have an eligible NFT for ApeCoin staking and would like to receive free $APE yield, this is the easiest method to get started now. You will earn free yield on your NFT, while you retain 100% of the utility. You can get tickets, participate in games, sign into web3 apps, and much more, all while getting free $APE yield. Head over to the ApeStaking dashboard, and click on the bottom card of the relevant NFT you own.
In the pop-up menu, please select your NFT and toggle the “Reward to APE to Cyan Vault” switch on or off, depending on your preference. If you turn this off, you will retain the claimable $APE for voting power in the ApeCoin DAO. Leaving this option on will stake freely earned $APE into the Cyan ApeCoin Staking Vault for higher compounded yields.
The amount to borrow will automatically populate, depending on the NFT you select to stake with. $APE is completely free to borrow for the entire duration of the staking until you decide to unstake.
For automatic compounding and the best yield of all the options, your best bet is straight NFT staking. If you don’t own enough $APE to fulfill the maximum quota allowed to stake with each NFT, Cyan will automatically borrow $APE from the vaults to top up the position. This way, you are always maximizing the yield possible.
Head to the ApeStaking dashboard, and click on the top button in the NFT staking card to access the staking menu.
Once there, select the NFT you’d like to stake with, followed by the input for the amount of $APE from each wallet, and then lastly the toggle for where you’d like rewarded $APE to go. If you switch this off, you'll keep your $APE to use for voting in the ApeCoin DAO. But if you leave it on, any $APE you get will be staked into the Cyan ApeCoin Staking Vault, where it'll work harder for you and grow more over time.
Monitoring your staking positions is easy. From the ApeStake dashboard, click on “My Rewards” to see all your positions. From here, you may select the grid or list views to glance at your stakings. You can unstake, claim $APE, or count your rewards all from one place.
By clicking on the ‘Unstaked’ option, you’ll see all the NFTs you haven’t staked with yet. The list view is very handy if you like to see other data for each NFT.
Leverage the $APE you have earned to vote on ApeCoin DAO proposals, anytime. Accessing Snapshot with your Cyan Wallet is a breeze. Please view this quick YouTube guide on how to connect your Cyan Wallet to Snapshot.org.
As the ApeCoin ecosystem grows, Cyan aims to continue development to provide the best user experience. If you have any comments or questions, you can always find us in the Discord chat - we’re always available.