<aside> 📖 Contents Concept How to Implications

</aside>

Concept

GLMR Apes have a chill approach to life. They love to sit back and enjoy daily Bananas drops. And they do that only when they are staked. Meaning, all GLMR Apes holders can stake their Ape on the staking site and earn $GLMB token.

Our DAO is in charge of regularly deciding how many $GLMB tokens should the staked GLMR Apes be getting, and how they should be distributed.

Our community already made a first decision to maintain the mint of 1 $BANANAS (GLMB) per day per GLMA staked in April 2022.

On November 4th 2022, the DAO decided to decrease the mint ratio by 20% per month starting on November 15th 2022, until the ratio reaches 0.33 $BANANAS (GLMB) per day per GLMA staked on March 15th, 2023.

• From November 15th,2022 GLMA will start to yield 0,8 GLMB/day/Ape
• From December 15th,2022 GLMA will start to yield 0,64 GLMB/day/Ape
• From January 15th,2023 GLMA will start to yield 0,51 GLMB/day/Ape
• From February 15th,2023 GLMA will start to yield 0,41 GLMB/day/Ape
• From March 15th,2023 GLMA will start to yield 0,33 GLMB/day/Ape

How to

In order to stake, just go to the staking section in the GLMA website, connect your wallet using any EVM wallet extension/app that supports Moonbeam (like Metamask, SubWallet or Talisman), and click on “Stake all my apes”. You can also stake one by one using the button below each image of your Ape.

In order to make the UX a bit easier for larger GLMA holders, you can easily stake and unstake in bulk, using the corresponding buttons.

Implications

In the current technical implementation of the GLMA staking contract, your GLMA will leave your wallet. This implies a couple of things you should keep in mind:

  1. You won’t be able to participate in the GLMA lottery. You will have to unstake before the lottery starts.
  2. You won’t be able to vote. Your apes must be in your wallet at the moment of the snapshot, as explained in the Apemocracy article.
  3. You won’t be able to trade your Ape. If it is listed, staking will automatically unlist your ape. You will also notice that NFT marketplaces now display your apes as held by the staking contract address, and not your address anymore.
  4. The total number of unique addresses is reduced on chain scanners, so don’t be missled when checking that.

The core team intends to develop a smarter contract that can help avoid these matters, but this is low in the priority list.

<aside> 👉 **Whats next?

🚘** Roadmap

Navigate

🗳️ DAO 🏠 Go back home

</aside>