ApeSwap.Finance, a Binance Smart Chain-based Decentralized Exchange and Yield Farming Platform, has started to produce promising growth results only two months after its debut. ApeSwap has since achieved over $170,000,000 in Total Value Locked, three-quarters of a billion dollars in trading volume, 200,000 individual monthly customers, and collaborations with premier ventures both within and outside the BSC ecosystem.
ApeSwap.Finance: The Basics :
ApeSwap is at its core. Finance is a decentralized exchange that currently facilitates an annual daily trade volume of $20,000,000 — $25,000,000. The exchange acts as an Automated Market Maker (similar to Uniswap), where money is pooled by the ApeSwap customer base and participants are rewarded in different ways for their contributions.
Any of these mechanics revolve around the native $BANANA token, which acts as the ApeSwap utility token. Users that have liquidity for any pair of assets contained on the ApeSwap Farms website, for example, will earn $BANANA simply by staking their LP Tokens (on top of earning a portion of trading fees)! This gives consumers over 1,000 percent APR on their original liquidity provisions in some situations.
ApeSwap Pools are also a yield farming/staking system that provides usefulness to $BANANA tokens. Users will stake $BANANA that they have purchased or obtained by farming to gain even more yield. The primary purpose of the $BANANA staking pool is to win $BANANA, but through ApeSwap alliances, you can earn new tokens by staking your $BANANA in a variety of additional pools.
ApeSwap Is Not Just All Monkey Business :
ApeSwap takes pride in many development and community-focused projects to sustain a thriving environment, in addition to their core competency as a Decentralized Exchange. The BUIDL Program, Non Fungible Apes, Initial Ape Offerings, and the Golden BANANA are the most notable examples.
The ApeSwap BUIDL Program :
The BUIDL Software from ApeSwap is a fast-track collaboration program for new and early ventures in the Binance Smart Chain Ecosystem. The program’s focus is on supporting new ideas and growing together. Candidates for the BUIDL Program must complete three phases in order to become official ApeSwap partners: Apply, Build, and Reward.
The software was created to encourage projects to use ApeSwap’s DEX and LP tokens over other alternatives in the room, while also rewarding certain projects for their dedication and efforts. ApeSwap has seen scores of applicants and a couple of ventures migrate liquidity so far.
Apes That Aren’t Fungible
Non Fungible Apes (or NFAs) are a set of 1,000 cryptographically created special, uncommon, immutable digital apes. Each ape is generated by hashing a string (for example, “Strong Ape”) to produce a set of six characteristics at random: Base, Face, Frame, Mouth, Eyes, and Top.
Each characteristic has a varying chance of appearing in each ape generation, making certain traits much more unusual than others. Just 32 apes, for example, have laser vision, and only 107 apes have sunglasses. Each ape is assigned a score based on the rarity of its characteristics (more details about rarity can be seen in the Github repo).
To sustain energy and hype, apes are introduced in batches, typically 100 at a time. The most recent update occurred on April 17th, and NFAs are now available on three marketplaces: NFTKey, Lootex, and Treasureland. Join our NFA Telegram party to learn more about NFAs and upcoming launches.
Initial Ape Offerings :
An Initial Ape Offering (IAO) is a type of fundraising vehicle that is used to introduce new tokens and provide liquidity to those tokens. To participate in an IAO, BANANA-BNB LP tokens are required. Users are exchanging certain LPs for the newly introduced token. In an IAO, the project receives the BNB, while ApeSwap consumes the BANANA. ApeSwap’s first three IAOs raised $400,000, $700,000, and $1,000,000 and sold out in minutes.
The Golden Banana :
ApeSwap recently launched the Golden Banana, one of several proposed inventions for their Decentralized Exchange. The advantages of Golden Banana are many, with the main advantages focusing on long-term and committed group members. Passive farming, unique IAO Access, special pools to win other tokens, and key governance features are all available at ApeSwap. Furthermore, GNANA is backed 1:1 by BANANAs, so it can still be turned back into BANANAs.
More information :
Official website: https://apeswap.finance/
Telegram group: https://t.me/ape_swap
Telegram channel: https://t.me/ape_swap_news
Bitcointalk username: cryptopathum
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2088829
My BSC wallet: 0x88c058389C0eaB00a3516273245C50Ca5141A34e
My proof: https://bitcointalk.org/index.php?topic=5330167.msg56888274#msg56888274
#ApeSwap #DeFi #Crypto #Cryptocurrency #BANANA #BSC