Staking Pools
The dual-token strategy is incredibly important to the sustainability and future growth of the Yeti-Apes ecosystem. Staking pools are at the core of the decentralized governance strategy.
Last updated
The dual-token strategy is incredibly important to the sustainability and future growth of the Yeti-Apes ecosystem. Staking pools are at the core of the decentralized governance strategy.
Last updated
The purpose of the two staking pools is to enhance governance and ensure ecosystem participation, not to provide financial returns. The details of the two staking pools are as follows:
Yoints Staking Pool
As the decision makers of the ecosystem, Yoints holders are fundamental to the future of Yeti-Apes. Through the Yoints staking pool, Yoints holders will have the option to stake their tokens and receive Yapes which can be used with Yeti-Apes decentralized applications or staked to grow their governance position, increasing their voting rights. This aligns products with holders, incentivizing them to make the best decisions for the current and future direction of the ecosystem.
The Yoints staking pool has a 30-day lock on deposited tokens. This lock has been put in place to incentivize longer-term participation in the ecosystem being built. Yoints stakers are the decision makers of the Yeti-Apes ecosystem and make decisions through voting. During the 30 days, users will earn Yapes and after this time period will be able to unstake their tokens from the pool.
Yapes Staking Pool
Yapes have been designed to be used throughout the entire Yeti-Apes ecosystem. As Yapes is the core utility token and is expected to be used by all Yeti-Apes users, a route has been designed that allows users of the ecosystem to become the future decision makers or increase their current voting rights. Yapes holders will have the option to stake their tokens in a pathway-to-governance staking pool, where they will receive Yoints, increasing their voting share when staked. This ensures that ecosystem users are further incentivized to participate in the long-term sustainability of the project.
The Yapes staking pool has a 7-day lock, allowing users to earn rewards, and then, up to their discretion, they can unstake their tokens at the end of this period, or continue to earn Yoints. This 7-day lock has been put in place to allow users sufficient time to earn Yoints and participate in the Yeti-Apes ecosystem.
How Staking Works?
Staking works by sending your tokens into a staking contract and receiving a proportional share of rewards based on your staking weight. It is a novel method of ensuring that you can earn interest on your holding and doing research on our staking pools prior to participation is recommended.
Below is a video explaining general staking. If you have any further questions about the Yeti-Apes-specific staking mechanics, please join our community as we are always happy to assist!
