The “ApeCoin DAO” community is considering delaying the allocation of the APE cryptocurrency
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Answer The “ApeCoin DAO” community is considering delaying the allocation of the APE cryptocurrency
The ApeCoin DAO Governance Community is considering whether to postpone the APE cryptocurrency stake in order to allow the launch of a bug-detection bounty program.
The bounty program will allocate 1 million APE ($4.5 million) for potential rewards and will run from 2 to 4 weeks.
According to suggest ApeCoin DAO Private Board Member:
The APE staking process will begin soon, and although the contract has already undergone at least one audit, it would be wise for DAO to implement the rewards program before the staking runs.
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A delay of a few weeks is a small price to pay for security and safety.
The APE staking is one of the biggest upcoming launches for the BAYC community.
Holders of boring monkeys and mutant monkeys will be able to share NFTs and large amounts of APE in order to get staking rewards.
Over the next three years, 175 million ApeCoin ($794.5 million) will be distributed to the coin’s funders.
The main idea of the proposal is that the bug bounty program will provide further reassurance to ApeCoin holders that staking will go smoothly, especially in light of recent smart contract exploits.
In the Governance Forum, many voices agreed with the idea but questioned why it didn’t come up from the start.
One forum member said:
great idea! Where was this idea months ago?
I always repeat this statement.
Why are we now formulating this idea so late in the game?
I really don’t support postponing the quota process any more.Read:Chainlink co-founder explains why attacks on DeFi projects continue
The entire grading process has already been delayed several times.
Currently, staking is tentatively scheduled to start running on October 31.
If the proposal passes, that could push the quota release date early December.
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