April 1, 2022
By Murtuza Merchant
Decentralized Metaverse, GameFi, and NFT investment organization vEmpire DDAO today announced the launch of a staking pool for the ApeCoin, with a triple-digit starting yield.
The ApeCoin is a brand new ERC-20 governance and utility token used within the wider Ape ecosystem, which has itself experienced tremendous growth throughout the past year.
Currently, the only use case for the ApeCoin is for governance, enabling the token holders to have a say in the ApeCoin DAO and to vote on how the ApeCoin DAO Ecosystem Fund should be used. However, by staking $APE with vEmpire, investors can earn interest on their holdings while also being exposed to the token launch in 2022.
When an investor stakes $APE, vEmpire will utilize the investor’s stake by purchasing other Ape-based assets and playing games within the Ape ecosystem, with assistance from vEmpire’s Gaming Guild. By doing this, vEmpire can make investors’ $APE holdings productive, enabling them to earn passive income, which is not yet natively possible.
“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,” said Dominic Ryder, founder & chief executive of vEmpire.
“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,” he added.
Raj Kapoor, chief advisor at Acryptoverse, said looking at the fundamentals that would drive ApeCoin as it aims to achieve a low-risk analysis, the proprietary system gauges how much a token can be manipulated by analyzing how much money it took to shift its price over the last 24 hour period along with analysis of recent changes in volume and market cap on a scale of 0-100, lower scores equating to higher risk while higher values represent lower risk.
“A point to note however is that despite the fact that ApeCoin is associated with Yuga Labs –– the company behind the intellectual property of the famous and pricey Bored Apes –– ApeCoin is a product of the ApeCoin decentralized autonomous organization (DAO) which means that each token holder has a say in the organization’s development,” he said.
Rahat Beri, founder, and chief executive, of Acryptoverse, a crypto advisory firm says the cryptocurrency markets are volatile and unstable and that APE, is still in its infancy in the world of cryptocurrency, therefore, speculating on ApeCoin’s future market is difficult.
About the author
Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.