Profile of Cyan in ApeCoin

Posts by Cyan

• AIP-484: 2 Million $APE to Stake on Cyan via the APE Foundation (Resubmission) by Cyan - No Role
  Posted on: July 21, 2024, 11:57 p.m.
  Content: Hey @bigbull , thanks for your inquiries! See below for our responses: How does your platform compare to BendDAO and ParallelFi? Cyan stands out from BendDAO and ParallelFi through its broader support for marketplaces (Blur, Magic Eden, Mintify, LooksRare, OpenSea and more), more favorable loan terms (LTV 25 - 75 %), and enhanced ownership features via the Cyan Wallet (Uses Wallet Connect and supports Warm.xyz and Delegate.xyz). Cyan offers more flexibility, lower down payments, and eliminates the risk of forced liquidation during the loan period. In what ways are you similar? We’re all similar in that we offer NFT loans, ApeStaking solutions, and primarily help match borrowers with lenders. We achieve this through a peer-to-pool model, which differs from the traditional peer-to-peer model. The benefit of this is the ability to facilitate a loan instantly while providing several loan term options. In what ways are you different? The largest difference is how Cyan approaches liquidations of loans. BendDAO and ParallelFi have specific spot price triggers for liquidation, while Cyan gives this option to users. In a non-liquidating loan on Cyan, users only have the obligation to make monthly payments ( 1 - 6 months). Thus, their loan continues to exist irrespective of how the underlying NFT price is moving. Another major difference is our Cyan Wallet. Users have full control over the NFT during the loan period, as the collateral NFT sits in a smart contract wallet allowing users to access dApps such as Snapshot, Magic Eden Profile, OtherPage, BAYC profile, Warm, Delegate, Discord, and more. Other platforms lock the NFT and issue a synthetic version, preventing a borrower from accessing any utility during the loan unless supported by Delegate.xyz. At Cyan, we believe you should be able to drive your car while you repay the car loan. Who has completed your Security Audit? Quantstamp, 0 xQuit, and Certik have audited our protocol. You can view all 11 audits here Security Audit.
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• AIP-484: 2 Million $APE to Stake on Cyan via the APE Foundation (Resubmission) by Cyan - No Role
  Posted on: June 26, 2024, 6:40 a.m.
  Content: DavidW: I’ve been quite curious about the treasury and was surprised that it’s all in APE (or at least that’s my understanding from the transparency dashboard). I was surprised that more of it hasn’t been put into USDC, BTC, ETH, treasury bonds, gold, equities, etc. Maybe this is the wrong place to ask, but since this is a proposal about staking the treasury, I’m curious about that. Also, I’m a little curious on how the 30 % yield is achieved. That’s very impressive. Hi! Great question - definitely better suited for the APE Foundation to answer regarding why the Treasury is held in $APE vs other tokens but as fans of the DAO, our understanding is the APE Foundation setup a Treasury based on $APE because this is the native token to the ApeCoin DAO and fully committing to the notion that ApeCoin is here to be used, seen, and operated as a coin for all users across multiple purposes. The 30 % yield estimation is based on current emissions, the long term staking period, paired-staking, and our use of auto-compounding rewards to maximize effectiveness when it comes to making sure there isn’t an accumulation of idle $APE but rather have it in active use.
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• AIP-484: 2 Million $APE to Stake on Cyan via the APE Foundation (Resubmission) by Cyan - No Role
  Posted on: June 20, 2024, 5:08 p.m.
  Content: | 632 . 8888888888888 x 3561600 × 900 522 KB ORIGINAL PROPOSAL: AIP- 393 : Proposal to stake 2 . 5 Million APE into the Cyan ApeCoin Vault Rejected AIPs [Cyan_-Cyan_ApeCoin_Vault-_ 1920 x 1080 ] Title: Elevating Earnings: Cyan’s Innovative Approach to ApeCoin Profit Sharing PROPOSAL NAME: 2 . 5 Million $APE to Stake on Cyan PROPOSAL CATEGORY: Ecosystem Fund Allocation TEAM DESCRIPTION: Cyan is a developer-first team, with Mikio, Naba, and Derrick (DareVader) leading efforts on the overall mission. Mikio has over a decade of TradFi experience, working at various banks and hedge funds in trading and fund management roles. He made the full-time swit… RESUBMISSION UPDATES: We wanted to address the concerns regarding costs and share our enthusiasm to help build alongside the ApeCoin DAO and its future developments, such as ApeChain. Reduced the ask to 2 million $APE rather than 2 . 5 million. Waiving the deposit fee which is 0 . 03 % or about $ 5 , 600 USD. Recent audit with Quantstamp protocol wide. PROPOSAL NAME: 2 Million $APE to Stake on Cyan via the APE Foundation TEAM DESCRIPTION: Cyan is a developer-first team, with Mikio, Naba, and Derrick (DareVader) leading efforts on the overall mission. Mikio has over a decade of TradFi experience, working at various banks and hedge funds in trading and fund management roles. He made the full-time switch to crypto in 2017 , where he transitioned from trader to builder and had his first startup exit in 2020 . Naba is a competitive programmer with deep expertise in backend systems. At Google, he helped build the Google Pay app and has contributed to many projects, including predictive typing on Android devices. Derrick is the resident NFT whisperer, with deep connections in the space. He specializes in Business Development and Relations by focusing on community building and outreach. Years of experience in business management and finance with migrating to crypto in 2021 to pursue Web 3 experiences and growth. PROPOSAL DESCRIPTION: This proposal aims to have 2 million $APE staked directly into the Cyan ApeCoin Vault from the ApeCoin DAO. Cyan is a DeFi protocol enabling users to Buy Now Pay Later, Borrow, Lend, Stake, and truly retain their ownership through the power of our wallet, allowing users to take advantage of Wallet Connect. The $APE provided by this grant will be staked to the Cyan ApeCoin Staking vault until the emissions expire, upon which all funds will be retained by the DAO. This $APE can safely be used to increase membership, spread awareness, and expand the ecosystem by putting $APE directly into the hands of more BAYC and MAYC users who have little to no $APE and no exposure to the DAO. We’ve battle-tested and have proven the vault increases participation in the ApeCoin DAO. Our current users have created AIPs, voted on AIPs, and dived deeper into the ecosystem by developing stronger relationships and exploring deeper parts of the community. With Cyan, we can incentivize users to participate at no cost to them, while generating profits for the ApeCoin DAO. Cyan will pass through 100 % of the yields from the 2 million $APE to the DAO. Cyan will also share 50 % of the revenue generated by staking activities with the DAO. At the end of the ApeCoin staking emissions schedule, the 2 million $APE will be returned to the DAO. How is Cyan able to do this through our protocol? Explainer here: The Cyan ApeCoin Vault provides multiple ways to earn yield. Staked $APE is always earning yield as the following logic is applied: $APE is paired to BAYC/MAYC/BAKC owners who want to stake but don’t have $APE. The generated yield is shared between both parties. $APE which isn’t utilized for the above activity are directly staked into Horizen Labs staking contracts Staking positions are continuously compounded on a bi-weekly basis. Gas is paid by Cyan Through these activities, staked $APE is always earning yield to its maximum potential. For a deeper dive into the mechanics, please visit our documentation here: Staking ApeCoin The original AIP idea thread can be found here: AIP- 393 : Proposal to stake 2 . 5 Million APE into the Cyan ApeCoin Vault BENEFIT TO APECOIN ECOSYSTEM: ApeCoin DAO generates more $APE for their treasury and other initiatives. Delegated people/groups can increase their voting power through users accessing $APE. BAYC/MAYC users can access $APE for free and get voting power equal to their max stake allotment such as 10 , 094 for BAYC and 2 , 042 for MAYC, effectively onboarding more users. The staked $APE CANNOT be liquidated by users, ensuring the full amount of 2 million is protected at all times. The 2 million $APE grant will be returned at the end of the staking period. This effectively costs the ApeCoin DAO 0 $APE. The ApeCoin DAO generates 50 % of the revenue from $APE-related transactions processed through Cyan. DEFINITIONS: Cyan Wallet: a smart contract wallet that is designed to act as an escrow during loans and staking activities. The Cyan Wallet behaves like a normal wallet, allowing users to sign into dapps, events, games, and other actions outside of selling or transferring out NFTs. The purpose is to retain the utility of the NFT during the loan or staking periods. Cyan ApeCoin Vault: a vault designed to stake, pair, and compound $APE. Owners of BAYC/MAYC/BAKC can freely access $APE from the vault to stake and share generated yields. Idle $APE is used to stake into the native Horizen Labs contract and is compounded bi-weekly. Pair Staking: A user seeking to access $APE from the Cyan ApeCoin Vault can do so by creating a Cyan Wallet, selecting the NFT they wish to stake using accessed $APE, and starting staking. There is no debt, interest, or market risk associated with this. Paired Staking is free, outside of gas costs, for any BAYC/MAYC to engage with. PLATFORMS & TECHNOLOGIES: Cyan has been building the Cyan protocol for the past two years. Leveraging protocol v 2 components, NFTs on loans can be escrowed within the Cyan Wallet. This feature unlocks the ability to stake BAYC/MAYC/BAKC for $APE into the Horizen Labs contracts while being financed for purchase or on an NFT-backed loan for liquidity. The user retains the utility of the NFT during staking, BNPL, or loan periods. Outside of the Cyan protocol, no other notable technologies are required for this proposal. STEPS TO IMPLEMENT: If passed, we will start on September 30 , 2024 and end on September 30 , 2029 , or when ApeStaking deprecates, whichever comes first. The APE Foundation will stake 2 million $APE into the Cyan ApeCoin Vault: CYAN | Buy now, pay later for NFTs Cyan will waive the deposit fee. This step will take 1 day to execute. Cyan will update the ApeCoin DAO with a report detailing the status on the staking position, deposit fee waived, gas fee refunded, and current yield once they have been completed as the first bi-weekly report issued on week 2 of the AIP passing. The vault has an estimated 30 % annual yield, so this would be an estimated 600 , 000 $APE in accrued interest for one year. Thus far the vault has returned 7 . 65 % in the past three months, which is in line with the estimated yield. Through compounding the staking done through the vault, Cyan collects 5 % of the yield as a platform fee from the paired $APE. This is separate from the 30 % annual yield above. Currently, the utilization of the vault is ~ 80 %, so 5 % * 80 % would be a 4 % revenue fee collected. We will split this revenue 50 / 50 , so 2 % will go to the DAO. This is an estimated 12 , 000 $APE in revenue to the DAO annually. Users do not receive the revenue split. Users can stake into the Cyan ApeCoin Vault to receive the estimated 30 % annual yield. Or, they may enjoy the utility of the vault by accessing $APE from the vault to stake with their BAYC/MAYC/BAKC for yields from this page: CYAN | Buy now, pay later for NFTs There are no additional requests for the APE Foundation. REPORTING EXPECTATIONS: Cyan can provide a bi-weekly report on vault performance and utilization with the ApeCoin Community. OVERALL COST: Total amount requested from the ApeCoin Ecosystem Fund = 2 , 000 , 000 $APE The vault has a 0 . 30 % deposit fee, which is universal across all Cyan vaults. At current APEUSD prices of $ 0 . 93 , this would be approximately $ 5 , 600 . Cyan will waive this fee. An estimated $ 4 gas fee will be refunded as well. The 2 million $APE is accounted for as a cost here, but the full amount of $APE will be returned to the ApeCoin DAO treasury at the end of the ApeStaking program. All interest earned during the deposit period will be returned as well. There are no additional requests for the APE Foundation.
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  • DavidW: Cyan: The vault has an estimated 30% annual yield I’ve been quite curious about the treasury and was surprised that it’s all in APE (or at least that’s my understanding from the transparency dashboard). I was surprised that more of it hasn’t been put into USDC, BTC, ETH, treasury bonds, gold, equities, etc. Maybe this is the wrong place to ask, but since this is a proposal about staking the treasury, I’m curious about that. Also, I’m a little curious on how the 30% yield is achieved. That’s very impressive.
• AIP-393: Proposal to stake 2.5 Million APE into the Cyan ApeCoin Vault by Cyan - No Role
  Posted on: Dec. 21, 2023, 9:22 a.m.
  Content: Hey mattborchert! Thanks for the question - the revenue share is intended for the staked portion of 5 mln $APE, but we’re open to discussions on sharing other parts of the revenue generated from the vault if we can both benefit from more visibility. As for the length of the revenue sharing, we intend to share for the duration of the staking. As long as the DAO has $APE staked into the vault beyond the proposed period, we’re happy to continue revenue sharing. Hope this helps clarify! Cyan Team
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• AIP-393: Proposal to stake 2.5 Million APE into the Cyan ApeCoin Vault by Cyan - No Role
  Posted on: Dec. 18, 2023, 10:41 p.m.
  Content: Thanks for the thoughtful questions! Below we’ve attempted to answer them the best we can. Please let us know where we can elaborate, or if you have any further questions! Sure, it might be easier if we laid out the exact steps: a. ApeCoin DAO stakes 5 mln $APE into the Cyan ApeCoin Vault: Cyan Dapp b. The vault has an estimated 29 . 50 % annual yield, so this would be an estimated 1 . 475 mln $APE in accrued interest for one year. Thus far the vault has returned 7 . 65 % in the past three months, which is in line with the estimated yield. c. By compounding the staking done through the vault, Cyan collects 5 % of the yield as a platform fee from the loaned-out $APE. This is separate from the 29 . 50 % annual yield above. Currently, the utilization of the vault is ~ 80 %, so 5 % * 80 % would be a 4 % revenue fee collected. We will split this revenue 50 / 50 , so 2 % will go to the DAO. This is an estimated 100 k $APE in revenue to the DAO annually. d. Users do not receive the revenue split. Users can stake into the Cyan ApeCoin Vault to receive the estimated 29 . 50 % in annual yield. Or, they may enjoy the utility of the vault by borrowing $APE from the vault to stake with their BAYC/MAYC/BAKC for yields from this page: Cyan Dapp Fair enough, there will be some dilution to rewards in the case of additional staking. As it stands now, there are roughly 100 mln $APE staked in the Ape pool, 43 mln staked in the BAYC pool, 16 mln in the MAYC pool, and 3 mln in the BAKC pool. So assuming an even distribution of 5 mln making its way to the various pools in the same distribution ratio, it may impact yield on the Ape pool by 0 . 4 ~ 0 . 5 %. For those who wish to keep up with the best rates, Cyan’s ApeStaking Vault is returning 29 . 5 % vs. the native Ape pool yield of 16 . 7 %, so there are ways to recapture lost opportunity costs. This is a fair argument, we believe there are valid points to both sides here! It can be argued the $APE distributed through yield in the current pools would make their way to the secondary market. By having a part of the DAO’s treasury staked, the distributed $APE on this position would not make its way to the secondary market. The 5 mln $APE will still be in the possession of the DAO, and at the end of the ApeStaking program, all 5 mln $APE and additional yield will be retained by the DAO. Unless the DAO decides to sell this allocation, there would be less $APE circulated and thus value accretive to the community. To your point about BAYC/MAYC seeing their voting power diluted, we understand this concern. The flipside to this is, that by keeping 5 mln $APE from being staked and freely available to vote with, there is less ability for those who wish to participate. To access the DAO staked $APE in the Cyan Apestaking Vault, one would have to stake with their BAYC/MAYC/BAKC, which we consider a significant investment at current market values. Also to make a point on the dilution of voting power, this may be considered a preferable outcome by many. Currently, a few whales hold significant positions of $APE which skew the results of AIPs in their favor. Adding more $APE to vote with to the broader community decentralizes whale voting power. As holders of $APE ourselves, we believe providing voting power to more individuals should be the mission of the DAO, which is to serve the community. We hope this clarifies some of your concerns. Please let us know if you have any further questions or comments! Many thanks, Cyan Team
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• AIP-393: Proposal to stake 2.5 Million APE into the Cyan ApeCoin Vault by Cyan - No Role
  Posted on: Dec. 13, 2023, 9:54 a.m.
  Content: No problem! The difference would be the revenue-sharing terms. The 50 / 50 split is being made available exclusively to the ApeCoin DAO :slight_smile: Happy to answer any other questions. Cyan Team
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• AIP-393: Proposal to stake 2.5 Million APE into the Cyan ApeCoin Vault by Cyan - No Role
  Posted on: Dec. 13, 2023, 8:28 a.m.
  Content: Cyan_-Cyan_ApeCoin_Vault-_ 1920 x 10801920 × 1080 928 KB Title: Elevating Earnings: Cyan’s Innovative Approach to ApeCoin Profit Sharing PROPOSAL NAME: 2 . 5 Million $APE to Stake on Cyan PROPOSAL CATEGORY: Ecosystem Fund Allocation TEAM DESCRIPTION: Cyan is a developer-first team, with Mikio, Naba, and Derrick (DareVader) leading efforts on the overall mission. Mikio has over a decade of TradFi experience, working at various banks and hedge funds in trading and fund management roles. He made the full-time switch to crypto in 2017 , where he transitioned from trader to builder and had his first startup exit in 2020 . Naba is a competitive programmer with deep expertise in backend systems. At Google, he helped build the Google Pay app and has contributed to many projects, including predictive typing on Android devices. Derrick is the resident NFT whisperer, with deep connections in the space. He specializes in Business Development and Relations by focusing on community building and outreach. Years of experience in business management and finance with migrating to crypto in 2021 to pursue Web 3 experiences and growth. ABSTRACT: This proposal aims to have 2 . 5 million $APE staked directly into the Cyan ApeCoin Vault from the ApeCoin DAO. Cyan is a DeFi protocol enabling users to Buy Now Pay Later, Borrow, Lend, Stake, and truly retain their ownership through the power of our wallet, allowing users to take advantage of Wallet Connect. The $APE provided by this grant will be staked to the Cyan ApeCoin Staking vault until the emissions expire, upon which all funds will be retained by the DAO. This $APE can safely be used to increase membership, spread awareness, and expand the ecosystem by putting $APE directly into the hands of more BAYC and MAYC users who have little to no $APE and no exposure to the DAO. We’ve battle-tested and have proven the vault increases participation in the ApeCoin DAO. Our current users have created AIPs, voted on AIPs, and dived deeper into the ecosystem by developing stronger relationships and exploring deeper parts of the community. With Cyan, we can incentivize users to participate at no cost to them, while generating profits for the ApeCoin DAO. Cyan will pass through 100 % of the yields from the 2 . 5 million $APE to the DAO. Cyan will also share 50 % of the revenue generated by staking activities with the DAO. At the end of the ApeCoin staking emissions schedule, the 2 . 5 million $APE will be returned to the DAO. How is Cyan able to do this through our protocol? Explainer here: The Cyan ApeCoin Vault provides multiple ways to earn yield. Staked $APE is always earning yield as the following logic is applied: $APE is paired to BAYC/MAYC/BAKC owners who want to stake but don’t have $APE. The generated yield is shared between both parties. $APE which isn’t utilized for the above activity are directly staked into Horizen Labs staking contracts Staking positions are continuously compounded on a bi-weekly basis. Gas is paid by Cyan Through these activities, staked $APE is always earning yield to its maximum potential. For a deeper dive into the mechanics, please visit our documentation here: https://docs.usecyan.com/docs/staking-apecoin The original AIP idea thread can be found here: https://forum.apecoin.com/t/proposal-to-stake- 5 -million-ape-into-the-cyan-apecoin-vault/ 20921 BENEFIT TO APECOIN ECOSYSTEM: ApeCoin DAO generates more $APE for their treasury and other initiatives. Delegated people/groups can increase their voting power through users accessing $APE. BAYC/MAYC users can access $APE for free and get voting power equal to their max stake allotment such as 10 , 094 for BAYC and 2 , 042 for MAYC, effectively onboarding more users. The staked $APE CANNOT be liquidated by users, ensuring the full amount of 2 . 5 million is protected at all times. The 2 . 5 million $APE grant will be returned at the end of the staking period. This effectively costs the ApeCoin DAO 0 $APE. The ApeCoin DAO generates 50 % of the revenue from $APE-related transactions processed through Cyan. KEY TERMS: Cyan Wallet: a smart contract wallet that is designed to act as an escrow during loans and staking activities. The Cyan Wallet behaves like a normal wallet, allowing users to sign into dapps, events, games, and other actions outside of selling or transferring out NFTs. The purpose is to retain the utility of the NFT during the loan or staking periods. Cyan ApeCoin Vault: a vault designed to stake, pair, and compound $APE. Owners of BAYC/MAYC/BAKC can freely access $APE from the vault to stake and share generated yields. Idle $APE is used to stake into the native Horizen Labs contract and is compounded bi-weekly. Pair Staking: A user seeking to access $APE from the Cyan ApeCoin Vault can do so by creating a Cyan Wallet, selecting the NFT they wish to stake using accessed $APE, and starting staking. There is no debt, interest, or market risk associated with this. Paired Staking is free, outside of gas costs, for any BAYC/MAYC to engage with. PLATFORMS & TECHNOLOGIES: Cyan has been building the Cyan protocol for the past two years. Leveraging protocol v 2 components, NFTs on loans can be escrowed within the Cyan Wallet. This feature unlocks the ability to stake BAYC/MAYC/BAKC for $APE into the Horizen Labs contracts while being financed for purchase or on an NFT-backed loan for liquidity. The user retains the utility of the NFT during staking, BNPL, or loan periods. Outside of the Cyan protocol, no other notable technologies are required for this proposal. STEPS TO IMPLEMENT & TIMELINE: The APE Foundation will stake 2 . 5 million $APE into the Cyan ApeCoin Vault: https://dapp.usecyan.com/#/vault/mainnet/ 0 x 40138 d 542 f 23503429 ea 7 ab 9630545 d 628912446 The vault has an estimated 30 % annual yield, so this would be an estimated 750 , 000 $APE in accrued interest for one year. Thus far the vault has returned 7 . 65 % in the past three months, which is in line with the estimated yield. Through compounding the staking done through the vault, Cyan collects 5 % of the yield as a platform fee from the paired $APE. This is separate from the 30 % annual yield above. Currently, the utilization of the vault is ~ 80 %, so 5 % * 80 % would be a 4 % revenue fee collected. We will split this revenue 50 / 50 , so 2 % will go to the DAO. This is an estimated 50 k $APE in revenue to the DAO annually. Users do not receive the revenue split. Users can stake into the Cyan ApeCoin Vault to receive the estimated 30 % annual yield. Or, they may enjoy the utility of the vault by accessing $APE from the vault to stake with their BAYC/MAYC/BAKC for yields from this page: https://dapp.usecyan.com/#/ape-coin OVERALL COST: Amount requested from the ApeCoin Ecosystem Fund = 2 , 500 , 000 ApeCoin + $ 13 , 504 The cost comes from a 0 . 30 % deposit fee, which is universal across all Cyan vaults. At current APEUSD prices of $ 1 . 80 , this would be approximately $ 13 , 500 . An estimated $ 4 gas fee is added. Moreover, an investment of 2 . 5 million $APE (valued at USD 4 . 5 million as of March 19 , 2024 ) into the Cyan ApeCoin Vault is necessary, though not an expense. The DAO would maintain control of these funds. Any increase in value and interest earned throughout the investment period would be kept by the DAO. Cyan_-Cyan_ApeCoin_Vault-_ 1920 x 10801920 × 1080 928 KB
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• Cyan is requesting permission to use ApeCoin’s branding for marketing to enhance the ecosystem with a community-focused staking dashboard, benefiting APE token holders and NFT owners at no cost by Cyan - No Role
  Posted on: Sept. 15, 2023, 1:05 p.m.
  Content: Proposal Name Permission to use ApeCoin IP for marketing purposes Proposal Category Core: Brand Decision Abstract ApeCoin staking is a key feature of the APE ecosystem, a mechanism that incentivizes investment into the wider brand. Cyan has built an enhanced dashboard for ApeCoin staking, providing a superior option for participants to engage in staking while voting rights aren’t forfeited. Cyan is requesting permission to use the ApeCoin name, logo, and IP for marketing purposes. Motivation Cyan is a smaller NFT Finance platform with a team mostly comprised of developers. Coupled with a small balance sheet, there is no feasible way to cut through the noise of Twitter, Spaces, Discord, and other mediums of advertising in the cryptocurrency space. An alignment with the ApeCoin DAO provides Cyan with the necessary visibility to justify providing an enhanced experience for participants. Rationale The core premise of the ApeCoin DAO is to steward a fair and decentralized process for making decisions that benefit the community at large. As the complexity of NFT Finance platforms increases, the voting power of those staking APE is diminishing as protocols don’t always provide a look-through for voting rights. Cyan would like to give the voting power back to the community. Voting should be in the hands of the owner, no matter if the NFT is in loan, the APE is borrowed or other circumstances prevent access due to a smart contract. This proposal is the first step towards developing a relationship with the DAO to provide meaningful developments for the ApeCoin community. Benefit to ApeCoin Ecosystem The Cyan ApeStaking dashboard provides several methods for providing real value to the community: Cyan ApeCoin Staking Vault: $APE holders can stake to earn yield from the native staking contracts (i.e. Horizen Labs contracts) and also gain extra yield from lent $APE. $APE is lent out to BAYC/MAYC/BAKC holders who wish to stake, but don’t have $APE already. They will share the yield while they borrow $APE. BAYC/MAYC/BAKC staking with borrowed $APE. As mentioned above, BAYC/MAYC/BAKC owners can stake $APE with borrowed $APE from the Cyan ApeCoin Staking Vault. The yield from this staking is shared. BAYC/MAYC/BAKC staking with owned $APE. This is similar to the native staking (i.e. Horizen Labs contracts), with an added Auto-Compounding feature provided by Cyan. A staking position is automatically unstaked with rewards and re-staked for automatic compounding. Cyan handles the process and pays for the gas fees. In addition to the added benefits above, participants can still vote in AIP proposals through the Cyan Wallet. As Cyan is an NFT Finance platform, participants can also buy BAYC/MAYC/BAKC on buy now pay later plans, and still enjoy the staking benefits above. Those who already own an NFT can borrow cryptocurrency against their NFT while being staked as well. All these benefits are available today. There are no synthetic $APE tokens, and everything is settled on-chain. Specifications Twitter Cyan Dapp Canva Figma Steps to Implement Some specific executables are as follows: 6 months of social media support through the official ApeCoin Twitter profile, on a cadence that is at the ape foundation’s discretion. Cyan’s participation in ApeCoin Discord channels to answer questions related to staking Twitter threads and guides using ApeCoin DAO’s marketing IP, written and provided by the Cyan business development team Education images, videos, and threads on staking and voting with ApeCoin Timeline Cyan will start utilizing ApeCoin marketing material immediately after a successful vote. Overall Cost Zero
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