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    Stake $APEX on Arbitrum for the 1,000 USDC Prize Pool!

    Mar 06, 2023

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    ICYMI, support for staking on the Arbitrum chain is now available to ApeXers — and to celebrate, we're dropping a bag of 1,000 USDC rewards for selected ApeXers who have chosen to stake via this new chain alternative.

    From March 8, 2023, 12AM (midnight) UTC to March 18, 2023, 11:59PM UTC, 10 lucky staking participants will get to share in the USDC prize pool.

    All you need is to collect Staking Snapshot Points. The more points you accumulate and the higher you rank on the leaderboard, the bigger your chances of winning. Here's how:

    Stay in the Snapshot

    During the event, three (3) staking snapshots will be taken daily at random times. The snapshots per day will capture the total amount of $APEX you have staked on ApeX Pro via Arbitrum, and we'll take an average of a staker's staked amount based on these three (3) snapshots. The points you'll receive per day are equivalent to the average amount of $APEX you have staked as a result of the snapshot.

    For example, let's say the snapshot occurs at 10am, 4pm and 8pm on the first day of the event. Alice has 1,000 $APEX staked via Arbitrum when the first and second snapshots occur, and unstakes 600 $APEX at 7pm before the 8pm snapshot occurs.

    Day 1: Alice's average $APEX staked = (1,000 + 1,000 + 400) / 3 = 800 $APEX = 800 points

    Points are calculated anew across each day and will be added up across each day for the final ranking. The higher your ranking, the closer you are to rewards!

    Winners

    The top seven (7) participants on the leaderboard based on the amount of points they have will take home a cut of the 1,000 USDC bag of rewards.

    In addition, to ensure everyone gets a fair chance at reaching for rewards, we'll also randomly select three (3) participants who have staked any $APEX on ApeX Pro via Arbitrum to share in the prize pool.

    The rewards will be split and distributed according to the following tiers:

    How to Check Daily Snapshot Results & Leaderboard

    Participants can check for their overall rankings based on cumulative points with every snapshot per day on the Staking page. The leaderboard and rankings will be updated once the snapshot (happening at random times throughout the day) happens.

    For example, using the same example as above with Alice, here's what the snapshot and her total points will look like with every update on Day 1:

    • Ranking Update at 10am: 1,000 points

    • Ranking Update at 4pm: [(1000+1000) / 2] = 1,000 points

    • Ranking Update at 8pm: [(1000+1000+400) / 3] = 800 points (after unstaking 600 $APEX)

    On Day 2, Alice stakes another 600 $APEX at 10am and she would have a total of 1,000 $APEX staked (400 from the day before and newly added 600 from today). If snapshot occurs at 1pm, 6pm and 11pm, here's what the snapshot and her total points will look like:

    • Ranking Update at 1pm: 800 (fixed from the day before) + 1,000 = 1,800 points

    • Ranking Update at 6pm: 800 + [(1,000 + 1,000) / 2] = $1,800 points

    • Ranking Update at 11pm: 800 + [(1,000 + 1,000 + 1,000) / 3] = $1,800 points

    The timings of the snapshots that occurred on a particular day will be reflected the next day.


    Terms & Conditions:

    1. Only $APEX staked on ApeX Pro via the Arbitrum chain will be counted under this event.

    2. Snapshots per day will occur at three (3) random points throughout the day, and will not be announced beforehand.

    3. Eligible reward recipients will be able to claim their prize rewards via the Rewards page within 14 working days of the event's end date.

    4. ApeX Pro reserves the right to modify the terms of this event. The event may be subject to change without notice.

    5. ApeX Pro reserves the right to the final interpretation of this event. If you have any questions, please contact us via the ApeX Pro Discord channel.