Ape Staking & Bug Bounty Process

We wanted to provide some clarification on how the bug bounty program proposed in AIP-134, which is up for vote on Snapshot from Thursday 27 October - Wednesday 2 November, relates to the launch of staking.

As a reminder, the ApeCoin staking smart contracts have been built by Horizen Labs via AIPs 21 & 22, with an original timeline to launch by 10/31. The Ape Foundation has asked Horizen Labs to delay the launch date until the end of the voting period (Nov. 2, 2022).

If the community votes to approve the bug bounty program in AIP-134, to provide further security for the staking smart contracts, the Ape Foundation will request that Horizen Labs not launch Ape staking until after the bug bounty program concludes.

The author of the AIP has indicated the program would last roughly 3 weeks, so this would postpone the launch timeline of the smart contract to November 24, 2022, and staking distributions start on December 7, 2022.

As a reminder, the objective of the bug bounty program is to provide time to both surface and address vulnerabilities in the staking smart contracts.