Keeping Tabs On The Lab #52
To the Bored,
Good evening and thank you for reading the 52nd edition of the Bored Ape Gazette’s Keeping Tabs On The Lab Newsletter!
It’s Christmas time around the swamp, and 'tis the season to be an Ape—or $Ape—as floor prices across the Yugaverse pump and ApeCoin moons. More and more people are checking out the growing ApeChain ecosystem and taking advantage of its native yield, which currently boasts a 17% APY on $Ape!
Along with the recent price action, a lot has been happening around the swamp and the ApeChain ecosystem that is anything but boring. In just the last week, ApeChain reached a major milestone with $100 million worth of crypto bridged to the six-week-old chain. BAYC member Adam Weitsman acquired a Mega Koda that may play a huge role in Otherside, and Yuga Labs purchased the Web3 asset verification business Tokenproof, planning to use the tech to build cool things on ApeChain.
And it doesn’t stop there—Apes and Mutants can get their Apes ready to sleigh this Christmas season with a ton of holiday edits from the club’s two resident seamsters. Plus, everyone from around the swamp, Ape ecosystem, and Web3 world is invited to RSVP for the DAO’s Art Basel Memecoin Casino event in Miami this Friday!
With so much going on across the Yugaverse, lets ape into the news and tabs on the lab!
To begin, ApeChain is quickly becoming one of the biggest chains in all of crypto as the community has collectively bridged $136 million to ApeChain, making it one of the 40 chains with the most assets bridged on it, according to Coin Gecko.
A lot of $Ape and other crypto has been getting bridged to ApeChain recently to take advantage of the chain's native yield, which comes from the staking rewards for the ApeCoin DAO’s now-closed $APE-only staking pool on Ethereum that has been redirected to $APE holders who bring their assets to ApeChain.
Today, $APE on ApeChain is earning 17%, ApeUSD is earning 8.5%, and ApeEth is earning 2.9% APY, according to ApeCoin’s new Track My Yield tool.
As more $Ape holders bridge to ApeChain, a major deal went down on Otherside—powered by $Ape—between Yuga Labs and longtime BAYC member Adam Weitsman. This could be the beginning of the next chapter in the story of the Kodas and their home world of Nexus.
On Monday, Weitsman acquired a Chaos Otherdeed that’s home to Mega Koda #9994 from Yuga Labs in an undisclosed deal.
“Kodas Unite !!!!!!!,” Weitsman tweeted after the deal along with a photo of his new Koda.
At this time, we do not know what Weitsman and Yuga Labs are planning, but we do know that this particular Koda will play a major role on Otherside next year.
“The Chaos Mega Koda has found a new home with the holder of The Key,” Yuga Labs CEO Garga tweeted last night. “Excited to tell this story on Otherside in 2025. See you on the Nexus.”
This Mega Koda deal wasn’t the only sale Yuga Labs was part of yesterday. The company also formally acquired Tokenproof from BAYC member FonzGM.
Following the deal, Garga took to the timeline and said that he and Yuga Labs’ Workshop team, an in-house team of 13 degen-brained developers focused on creating ApeChain products and dApps, will be building upon the Tokenproof technology and launching the projects on $Ape!
“A big part of BAYC has always been about finding new ways to leverage NFTs, whether it's access for digital or physical events, merch, games, or just crazy experiments,” Garga wrote. “Together with tokenproof, we tackled a bunch of thorny problems, so that your monkey jpeg could safely and efficiently get you into a festival across the world. That was just scratching the surface. Happy for tokenproof's tech to find a new home at Yuga, and for part of the tokenproof team to join our R&D division, The Workshop, where we're cooking on a bunch of exciting stuff to make crypto and NFTs more accessible and more fun.”
As Yuga Labs and ApeCoin make moves that will bring more eyes to ApeChain, community seamsters Nifty Tailor and Ape Closet are getting their frens around the swamp geared up for Christmas with an assortment of ugly Christmas sweater edits and even a Santa Claus outfit that’s insane!
You can get your primates ready for Christmas via the links below:
https://app.niftytailor.com
https://apecloset.com
And finally, the Web3 world is heading down south this weekend for Art Basel 2024, and ApeCoin has teamed up with Retardio, Magic Eden, and more memecoins to host a play money Casino Night event and everyone is invited to ape in!
The event will be this Friday, December 6th, from 6 P.M. EST to 9 P.M. EST at the Miami Outboard Club. To attend, $Apes and Apes need to RSVP and request a ticket via Luma here: https://lu.ma/dix70gjk
Thank you for reading this week’s edition of the Keeping Tabs On The Lab Newsletter! Be sure to follow the Bored Ape Gazette on Twitter to stay up-to-date with everything happening around the swamp and $Ape ecosystem.
Best,
Kyle
Editor-In-Chief
Bored Ape Gazette