Bored Ape Yacht Club, aiming to launch staking for its NFTs and ApeCoin later this month, an idea for the ApeCoin DAO caught interest.
While all these preparations were underway, a proposal on the governance forum suggested adding a bug bounty program. While this proposal attracts attention, it also includes delaying the launch for a month if it is decided to be added.
A New Idea For ApeCoin DAO Could Delay Launch
ApeCoin DAO is considering delaying the launch of NFT and APE staking to allow for a bug bounty program.
According to the proposal made by ApeCoin DAO Special Council Member Maaria Bajwa at the project’s management forum, the bounty program is considering allocating 1 million APE approximately $4.5 million to potential awards.
Bajwa said of his proposal:
“ApeCoin staking will be released soon and even though the contract has already passed at least one audit, it would be safer for the DAO to implement a bug bounty program before it is released”
“A few weeks’ delay is a small price to pay for security,” Bajwa added on Twitter.
ApeCoin staking is seen as one of the biggest launches in recent history for the BAYC community. Bored Apes and Mutant Apes holders will be able to stake their NFT and large amounts of ApeCoin to receive staking rewards. Over the next three years in the DAO, 175 million ApeCoins will be distributed to the stakers, approximately $794.5 million.
