Two of the crypto market’s most popular projects, Chainlink (LINK) and ApeCoin (APE) are all set to deploy their long-awaited staking programs this week.

And regarding short-term price action on both tokens, this’ll probably mean one of two things. Some not-unreasonable pumpage based on sound fundamental value-adds for investors. Or… a classic sell-the-news slump, a la Ethereum’s Merge, a few months ago.

Yep, could go up, could go down. Sideways is half a chance, too.

A quick check on both LINK and APE at the time of writing, though, and they’re both actually down about 3% over the past 24 hours.

 

New, improved Chainlink now comes with staking rewards

Chainlink (LINK) – it’s one of the crypto’s most-respected, most widely connected and partnered decentralised protocols. And it’s about to get stakified. Yep, not a word.

We’ll get to that – but first, what the fungible is Chainlink again? It’s an oracle. Okay… so, like Pythia, the Oracle of Delphi? Or Warren “Bitcoin is Rat Poison Squared” Buffett, the Oracle of Omaha?

No.

According to the educational section on the Chainlink site, oracles in the crypto/Web3 sense are: “entities that connect blockchains to external systems, thereby enabling smart contracts to execute based upon inputs and outputs from the real world.”

Simplistic take: you can consider it an extremely clever data-bridging protocol that’s designed to securely connect blockchain-based smart contracts to interact with information and data that exists “off chain” – that is, the sort of “Web2” data sources most of us are used to, such as APIs and commonly used payment networks.

We don’t do Chainlink much justice here by barely scratching the surface and quickly moving on, but for the sake of this article’s purpose, we must do exactly that. Besides, if you’re here you might already know all about it.

So… staking.

LINK staking (essentially a passive source of income for crypto holders who lock up their tokens) is launching on December 6, at midday ET. This rollout is at the heart of the “Chainlink Economics 2.0” upgrade, which will go live on the Ethereum mainnet at the same time.

Benefits? Staking will enable LINK token holders and node operators to earn passive rewards while also helping to maintain the oracle network’s overall cryptoeconomic security.

If you’re a LINK holder and are excited to start some sweet passive earning, don’t be disappointed if you can’t immediately tap into it. If you can’t it simply means you’re not one of the Early Access addresses. Actual staking capabilities for the rest of us plebs will be made available a couple of days later.

According to a Chainlink blog post, “Chainlink Staking v0.1 will initially be capped at 25M LINK, with plans to scale up to 75M LINK overtime.”

You can find more details on all of this here.

Is any of this “priced in”? There are plenty of bullish crypto chart watchers out there who believe it isn’t. Such as Michaël van de Poppe, for instance, who has said he sees LINK and other top cryptos entering an “accumulation phase”, predicting a US$9 price for the token in the not-too-distant. It’s currently trading hands for US$7.27.

One thing to note, though, while LINK is down 3% on the daily timeframe, it’s actually been building some momentum over the past fortnight (+23%).

 

Going APE for passive rewards

Staking for ApeCoin’s APE token, meanwhile, is currently being deployed by the ApeCoin DAO (decentralised autonymous organisation) and is powered by a Horizen Labs-developed smart contract.

It’s set to be completed on December 7, pending any bug reveals, although APE holders can already begin depositing their tokens into the staking protocol.

Rewards are then set to start trickling in a handful of days later, on December 12.

“MESSI” (no, not that one) seems confident…

ApeCoin is the Bored Ape Yacht Club’s governance and utility token that is designed to be used right across that ecosystem for various purposes including giving holders the right to vote on issues such as allocation of funds, framing of rules, partnerships, project selection and more.

APE is also designed to be a currency used within, and possibly beyond (like DogeCoin), the BAYC ecosystem, which includes the developing metaverse known as Otherside.

Like LINK, APE is up about 25% over the past fortnight.

And in related news, Bored Apes and the luxury American-Dutch watchmaker Timex have teamed up to create 500 one-of-one customisable BAYC watches. You can read more about that in the official Timex announcement here, if you so desire.