2024-10-21
In a move to simplify earning rewards
for its users, ApeCoin has launched a new feature called Automatic Yield Mode.
This innovative system automates the process of accumulating earnings, allowing
holders to grow their balances passively without the need to manually claim or
stake their tokens. The feature is now the default setting for all Externally
Owned Accounts (EOAs), ensuring that users automatically receive rewards with
each block, continuously increasing their APE balance without any manual intervention.
Native yield allows specific assets
bridged to the ApeChain and automatically generate yield by sending them to
vaulted sources of yield on the Ethereum mainnet. The specific assets and yield
sources are in the table below:
|
Source Token |
Yield Source |
Destination
Token |
|
USDC, USDT, DAI |
sDAI (DSR) |
apeUSD |
|
ETH, WETH |
wsETH |
apeETH |
|
ApeCoin |
ApeStake |
ApeCoin (gas
token) |
This innovative concept enables assets to generate yield automatically without
manual intervention on Layer 2 and Layer 3 chains. By offering native yield,
ApeChain aims to incentivize bridging and enhance the consumer experience by
allowing users' wallet balances to rebase at frequent intervals.
Additionally, ApeCoin's yield-bearing tokens such as apeUSD and apeETH, now support a rebasing mode. This means that users' balances increase periodically, reflecting the yield generated by the underlying assets. For instance, apeUSD will grow in real-time as it accrues yield from sDAI, mirroring the underlying DAI yield on Ethereum.
Users can bridge their tokens to ApeChain to start earning native yield on APE,
ETH, and various stablecoins.
