ApeCoin Staking Platform Updates Include GeoBlocker on United States, Canada
Blockchain infrastructure company Horizen Labs, which is in charge of creating the ApeCoin staking system, provided several announcements on Wednesday — including a geoblocker restricting U.S. and Canadian users from accessing the site directly due to regulatory issues.
Ape Staking Update: Big thanks to the talented community devs for their helpful improvements. Bug Bounty AIP delayed us a bit, so we shortened the pre-deposit period by a week to keep our original 12/12 go-live. Alternate front-end sites going live. See card. pic.twitter.com/mgmP7X3SwQ— Horizen Labs (@HorizenLabs) November 24, 2022
The countries restricted from using the site directly include the United States, Canada, North Korea, Syria, Iran, Cuba, Russia, Crimea, Donetsk, and Luhansk. Horizen Labs acknowledged the inconvenience of the announcement, citing 'no good alternative' due to the current regulatory environment.
The staking site, Apestake.io, will go live on Dec. 5, with rewards accrual beginning a week later on Dec. 12.
While users in the listed countries will not be able to access the site directly, there is speculation that staking will still be available via other front-end sites, VPNs or the contract — though it is still unclear at this time what those methods will look like.
Seeing a lot of ppl say that staking is not available for apes located in the US, but I think that's wrong.— Zeneca (🔮,🔥) (@Zeneca_33) November 24, 2022
Reading the entire document, it seems clear to me that apestake .io will not be usable by certain countries, but anyone can still stake via contract / another front end. pic.twitter.com/VlnXVLq2JT
ApeCoin dropped to $3.25 on the announcement, down from $3.46 earlier in the day.