Nexo To Allow Investors To Earn Yields on Bored Ape-inspired Token

Nexo customers can earn up to a 12% annual percentage rate for holding ApeCoin (APE) with the crypto platform

article-image

Source: ApeCoin

share

key takeaways

  • The token has a current market cap of $2.4 billion and a fully-diluted valuation of $14.2 billion
  • Yuga Labs announced a seed round of $450 million on March 22

Nexo announced on Tuesday that investors can earn yields on the newly launched Bored Ape Yacht Club-inspired ApeCoin (APE) — billing itself as the first cryptocurrency platform to do so. 

Users can earn up to a 12% annual percentage rate (APR) for holding ApeCoin with the company, and may use APE as collateral for loans.

Nexo’s exchange is also offering a 0.5% cashback incentive on APE purchases.

The announcement closely follows Yuga Labs capital raise of $450 million —- bringing the Bored Ape Yacht Club creator to $4 billion valuation.

APE is an Ethereum utility token, its creators say, which is to be governed by a decentralized autonomous organization — the ApeCoin DAO.

There are currently five active proposals for voting — called AIP for ApeCoin Improvement Proposals. One proposal — AIP-2 — governs the voting process itself.

Holding a token is the only requirement for DAO membership, but the Cayman Islands-based ApeCoin Foundation has the final say on implementation. Each AIP states that “implementation may be immaterially or materially altered to optimise for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP.”

APE will serve as a decentralized protocol layer for new services that “drive culture forward into the metaverse,” according to ApeCoin’s website. 

“The token will provide access to exclusive merchandise, games and events happening in the ecosystem itself,” crypto exchange Binance, which listed APE, said in a statement.

The token, which after its initial price discovery has traded between about $9.60 and $15.35, currently has a market cap of about $2.4 billion, according to CoinGecko

“With APE as a currency that allows you to own land and resources and create assets in an interoperable gaming metaverse, Yuga [Labs is] going full metaverse, not just a viral NFT collection,” Antoni Trenchev, co-founder of Nexo, said in a statement to Blockworks.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Content Delivery Networks (CDNs) represent low-hanging fruit in a massive market ripe for Web3-driven disruption. The global CDN market was valued at ~$28B in 2024, and is projected to surpass $140B by 2034, (18.75% CAGR) underscoring the immense demand for efficient content delivery.

article-image

Firedancer begins delegating stake to Solana validators

article-image

A vote ending Monday could introduce a new layer of security for Ethereum’s largest liquid staking protocol

article-image

Framework’s Michael Anderson explains what tokens need in order to be successful

article-image

Conferences are pop-up innovation clusters—and filters for the riff-raff

article-image

Tariff front-running may have caused an artificial bounce in economic data earlier this year

article-image

Waka Flocka Flame-linked BaseDrop is raising some eyebrows