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Binance NFT Marketplace Launches New Flexible Term APR for Ape NFT Staking Program

Binance NFT has announced that it is increasing the flexibility of its Ape NFT Staking Program. This program, which allows users to stake their Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs for daily rewards in ApeCoin (APE), will now match the APR of 90-day Fixed Term subscriptions. This change means that users can now stake or unstake their NFTs from the program at any time and still earn high daily rewards.

The introduction of more flexibility to the Ape NFT Staking Program is a significant development for NFT investors. Previously, users had to lock their NFTs into fixed-term subscriptions of 30, 60, or 90 days to earn APE rewards. However, this new initiative means that users can now enjoy the benefits of staking their NFTs while still maintaining the flexibility to sell them or use them in other ways at any time.

To support this new initiative, users who are currently staking their BAYC and MAYC NFTs for a Fixed Term subscription of 30, 60, or 90 days may opt to unstake their NFTs via the one-off quick redemption channel from 2023-03-14 10:00 (UTC) to 2023-03-21 23:59 (UTC).

Binance NFT will also be phasing out Fixed Term subscriptions in the Ape NFT Staking Program, which will no longer be available from 2023-03-14 10:00 (UTC). Existing Fixed Term subscriptions will not be affected, and Ape NFTs locked in Fixed Term subscriptions will be automatically converted to a Flexible Term subscription upon maturity, where users will continue to earn APE daily rewards.

Users who want to unstake their NFTs from the Ape NFT Staking Program must click the “Unstake” button on the Ape NFT Staking Program page. All unstaking requests submitted between 2023-03-14 10:00 (UTC) and 2023-03-21 23:59 (UTC) will be processed at 00:00 (UTC) the following day. The Ape NFTs will then be unstaked and returned to users’ accounts within 48 hours.

APE daily rewards are subject to the real-time APR displayed on the Ape NFT Staking Program page. Users who unstake their Ape NFTs from Fixed Term subscriptions via the redemption channel will receive APE daily rewards that are calculated as of 23:59 (UTC) on the same day they submit their unstaking request.

The Ape NFT Staking Program is subject to local restrictions where applicable, and only users who have completed identity verification are eligible to participate. Binance reserves the right to disqualify any participants showing signs of fraudulent behavior and to cancel or amend the program or program rules at its sole discretion.

In conclusion, Binance NFT’s introduction of more flexibility to the Ape NFT Staking Program is an exciting development for NFT investors. By allowing users to stake or unstake their NFTs from the program at any time while still earning high daily rewards, Binance NFT is giving investors more control over their NFT investments.

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