Otherside confirms sale of ApeCoin! Bored Apes, Mutant Apes holders eligible for free airdrop
4/24 is the birthday of BAYC, and on its anniversary celebration day, Otherside officially announced on its Twitter that the land sale plan will launch on 5/1 Taiwan time. Today, detailed information about the sale has also been gradually released, and some rumors circulating in the community recently have been partially confirmed.
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Otherside Land Sale Project
The Otherside adventure will begin on 4/30 at 12pm ET, only on https://t.co/UWRD4dOC9H. The KYC on https://t.co/mbSVzDX9tp was to participate in Saturday’s mint — only those who KYCed can participate. More details in the 🧵.
— OthersideMeta (@OthersideMeta) April 25, 2022
According to Otherside's Twitter, the land sale will be conducted using ApeCoin and will follow a Dutch auction format. The land prices will gradually decrease over time, but the starting bid amount has not been disclosed. Additionally, those interested in purchasing will need to complete the KYC process on the verification website beforehand. Moreover, holders of BAYC or MAYC will be eligible to receive a free piece of land 21 days after the auction ends.
The ApeCoin obtained in this auction will be locked for a year and will not be used for voting in the ApeCoin DAO.
Due to the recent news of a hack on BAYC's Instagram account, the official statement reiterated that there will be no contests or surprise events, and more information will only be revealed on April 30th.
ApeCoin Staking Proposal Discussion
After ApeCoin was confirmed as the unit for land valuation, its price surged by approximately 18% within a day, reaching around $18.7 at the time of writing. Apart from gaining more utility, discussions within the community have been extensive regarding its staking proposal.
However, the staking proposals AIP-4 and 5 initially put forth by Animoca did not receive favorable responses from the community, with prominent cryptocurrency trader Cobie even publishing a lengthy critique, highlighting the unreasonable aspects of the proposals.
In order to devise the most suitable staking method and listen to the community's feedback, ApeCoin Dao will host a Twitter Space on April 27th at 6:30 AM (Taiwan time), where anyone can join to share their thoughts.
However, the focus of this discussion will be on the latest proposals AIP-21 and 22, which differ only slightly from AIP-4 and 5 by adding staking limits for different types of NFTs. These two proposals will be open for voting starting at 10:00 AM (Taiwan time) on April 29th.