ApeXers, we're excited to announce major enhancements to ApeX Staking Program based on your valuable feedback. To ensure a more rewarding and stable experience, we're introducing key updates to both Staking 2.0 and Staking 3.0.
The cornerstone of these updates is the implementation of a minimum time factor, ensuring continued rewards for long-term stakers. These improvements, coupled with our existing benefits and new incentives, are set to create a more robust and user-friendly staking ecosystem. So, whether you're a seasoned staker or just getting started, these updates will enhance your staking journey and maximize your rewards. Let's dive into the details!
A Quick Refresher on ApeX Staking Program
ApeX Staking is your gateway to ApeX's revenue-sharing program, designed as a passive income generation mechanism for our community, offering support for both $APEX and $esAPEX pools. Participating in ApeX Staking Program allows ApeXers to receive weekly revenue shares in USDC, while at the same time qualifies them for a portion of the upcoming $KONG airdrop with 6% of the total $KONG supply allocated to our active stakers.
Staking 3.0 is the latest version and an enhanced iteration of our staking program where users can choose from 4 fixed lock-up periods, ranging from 3 to 24 months. The longer the commitment, the higher the APY, allowing participants to maximize their earnings in USDC by providing $APEX and $esAPEX tokens in liquidity. The introduction of a lockup mechanism is crafted to boost yield, as well as the overall stability and value of the $APEX token, essential for the sustained growth of the project. Should you need further details on Staking 3.0, head to this helpful blog.
Staking 2.0, discontinued as of March 7, 2024, is our previous version of the program that no longer accepts new participants. If you're still holding assets in this version, don't worry — we’re expanding updates to help you manage your holdings and positions. Yet, we strongly encourage you to transition to Staking 3.0 to enhance your earnings and benefit from increased revenue share allocations.
How the Existing Staking Program Works
In the current setup of Staking 3.0, if you choose not to unstake your $esAPEX and $APEX tokens once your fixed staking period comes to an end, you'll notice an immediate reduction in your time factor to 0. Once your time factor hits 0, you'll no longer receive any rewards.
For participants in Staking 2.0, if you have to yet unstake and restake your tokens in Staking 3.0, by this time you've most certainly experienced a drop in your time factor. This decrease follows a linear reduction mechanism where the reduction continues until the time factor reaches 0, at which point users cease to receive any rewards.
Key Updates
In an effort to enhance our Staking Program, we've raised the minimum value of the time factor to 0.05 across both iterations. Let's see what this means.
For Staking 3.0 participants, once your staking period comes to an end, your time factor will be uniformly set to the new minimum value of 0.05. This change ensures that you'll continue to receive rewards even after your initial staking period has concluded.
For Staking 2.0 participants, we're also ensuring the minimum value is set at 0.05. In an effort to ensure this adjustment is made, here are the adjustments implemented:
If your time factor has already decreased to 0, it will now be automatically raised to the new minimum value of 0.05.
If your time factor has fallen below 0.05 but hasn't reached 0, we will adjust it upward to meet the new minimum value of 0.05.
If your time factor is currently above 0.05, it will continue to decrease over time as before, but it will stop decreasing once it reaches 0.05.
By introducing a minimum time factor of 0.05 across both Staking 2.0 and 3.0, we are ensuring that participants continue to earn rewards even after their initial staking period ends. These key changes are designed to provide a more stable and rewarding experience for all participants, even if you aren't actively managing your staking positions. However, do note that restaking your tokens to Staking 3.0 and making sure you update your positions once your initial time period expires is key to earning higher APY and rewards!
We value your continued support and welcome your feedback, which you can share on the Discord channel or through our feedback form. To stay informed about the latest news and updates, make sure to follow our blog and social media channels.
Happy staking!