Last Updated on October 1, 2022 by Bitfinsider

Community Calls for BendEarn Yield for ApeCoin

According to the proposal, the project will use Yuga Labs NFT and $APE tokens as paired staking tools. Users complete their paired stake mining at different intervals with the NFT and $APE.

This staking plan allows users to earn passive income from their activities. BendEarn, on the other hand, intends to combine NFT and $APE mining with a focus on profit distribution. The scheme seeks to maximize returns by utilizing market mechanisms to discover higher prices.

Furthermore, the staking activities take into account the market value of the paired assets in order to determine the profit outcome. This method has advantages because it improves user operations and ensures token holders’ balance.

The NFT oracle is also used in the latest initiative to forecast the $APE price outcome for the stakes. However, the method does not interfere with the progress of the protocol or cause any security breaches.

According to Yuga Lab’s official rules, NFT and SAPE can be transferred during mining in soft staking. The same paired assets were in the wallet before the approval was granted at expiration and before the user claimed the earnings.

BendEarn, as a paired mining protocol, uses a two-party method in which one entity takes the NFT or $APE and swaps it before the expiration date. The mining revenue is then obtained. However, if an entity fails to return the assets, the other party cannot recover the mining gains.