Introduction, Staking Process and FAQ

Introduction

We are excited to launch APE Staking on Arcade.xyz!

Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC) and APECoin (APE) holders can mint and deposit assets into a Staking Vault and then stake into a supported pool (per Horizen Labs) and obtain liquidity on these assets through the Arcade platform.

Through Arcade.xyz, holders can currently stake BAYC/MAYC and APECoin into the BAYC and MAYC pools. Holders are able to stake into supported pools at any point in the Arcade loan lifecycle. Please note, we are adding support for the Paired pool (BAYC/MAYC + BAKC) in the app soon.

From a borrowing perspective, Staking Vaults operate in the same manner as standard Vaults - after staking eligible assets have been deposited, Staking Vault holders can deposit non-staking eligible assets, set terms, and accept offers on Vaults to obtain liquidity.

Questions? Please reach out on our Discord and our community team will assist!

Staking Process on Arcade.xyz

In order to stake supported assets, Arcade.xyz users should proceed through the below steps:

  1. After connecting a wallet to the application, users should navigate to the Borrow Page. Users should select Mint Vault then Create Staking Vault on the My Vaults page to start the process.
  2. A wallet modal will immediately pop up to prompt the user to confirm a contract interaction to create a Staking Vault and kick off the Staking Vault creation process.
  3. Once the Staking Vault is created, it will appear on the My Vaults page. Users should deposit subject relevant assets (BAYC/MAYC/BAKC) into the Staking Vault.
    1. Users can also deposit non-staking eligible assets (ERC-721, ERC-1155, ERC-20) into a Staking Vault but they will not be eligible to be Staked in a Pool.
  4. After the asset(s) are successfully deposited in the Staking Vault, user should select Staking on the middle menu of the detail page. Next, users should choose the BAYC or MAYC Pool and the amount of APECoin to stake in the selected pool. Users should select ‘Stake’ once they have confirmed the pool and quantity.
    1. Note: The Paired Pool (BAYC/MAYC + BAKC) will be supported soon.
  5. After successfully staking, holders can leverage the Staking Vault to access liquidity and accept an offer (collection or bespoke) on a Vault.
  6. Vault holders can accept loan offers and optionally set terms on their Staking Vault in order to indicate desired terms for a loan. Once APECoin rewards are accrued in the vault, holders can withdraw the APECoin from the Vault at any time.

FAQ

  1. How does NFT lending work on Arcade.xyz?
    Please see the Arcade FAQ! Arcade.xyz is a platform that enables decentralized, peer-to-peer lending and borrowing on the Ethereum blockchain. The platform is built on the Arcade Protocol.
    Borrowers that have assets deposited in Vaults are listed on the marketplace and can accept loan offers on Vaults.
  2. What is a Vault?
    Please see the Vault FAQ
  3. Do I need to take out a loan to stake my BAYC/MAYC/BAKC?
    No - once you deposit asset(s) into a Staking Vault, asset(s) are eligible to be staked in a pool.
  4. Can I accept a loan offer on my staking vault and then stake my asset(s)?
    Yes - as long as asset(s) are deposited into a Staking Vault - you can stake asset(s) before or after agreeing to a loan offer.
  5. If I currently have my asset(s) in a Vault on Arcade, how do I withdraw and deposit them into a Staking Vault?
    You can roll over your assets from your current Vault to a new Staking Vault through the current Vault’s detail page. Once you have completed the rollover, you are eligible to stake your assets.
  6. If have a Bored Ape or Mutant Ape, but I don't hold APECoin, how do I stake?
    You can mint a Staking Vault, deposit your BAYC or MAYC, obtain a loan on Arcade in APE and then stake your BAYC or MAYC with your borrowed APECoin.
  7. What happens to earned ApeCoin if I default on my loan?
    If a borrower defaults on their loan, lenders have the ability to claim both the NFTs in the Vault and the APECoin rewards.
  8. Are my NFTs safe while staking my asset(s) through Arcade?
    Yes - your NFTs are locked in a Staking Vault - which is a smart contract architected and configured for APE Staking. This specific contract is currently under audit. The Arcade Protocol itself is fully audited - please see here.
  9. Can I deposit assets into a Staking Vault that are not one of BAYC/MAYC/BAKC?
    Yes - all assets that are eligible to be deposited into a standard Vault (ERC-721, ERC-1155, ERC-20) can be deposited into a Staking Vault.