Taking “Ape-ing” to the next level with ApeSwap.

ApeSwap.Finance, a Decentralized Exchange and Yield Farming Platform on Binance Smart Chain, has continued to show impressive growth results just 2 months after launch. ApeSwap has already attained over $80,000,000 in Total Value Locked, half a billion dollars in trading volume, 200,000 unique monthly users, and partnerships with premier projects in and out of the BSC ecosystem.

At its core, ApeSwap.Finance is a decentralized exchange, currently facilitating $8,000,000 – $12,000,000 in daily trading volume on average. The exchange operates as an Automated Market Maker (similar to Uniswap), where liquidity is pooled by the ApeSwap user base, rewarding these users for their contributions in various ways.

Specifically, most of these mechanics revolve around the native $BANANA token, which serves as the utility token across ApeSwap. For example, users who provide liquidity for any pair of assets found on the ApeSwap Farms page can earn $BANANA just by staking their LP Tokens (on top of already earning a portion of trading fees)! In some cases, this earns users over 1,000% APR on their initial liquidity provisions.

Additionally, ApeSwap Pools are a yield farming/staking mechanism to give utility to $BANANA tokens. Users can take the $BANANA which they’ve purchased or earned from farming and stake it to earn even more yield. The core $BANANA staking pool is to earn $BANANA, but through ApeSwap partnerships, you can earn new tokens by staking your $BANANA in various additional pools.

Beyond their core competency as a Decentralized Exchange, ApeSwap prides itself in several growth and community-focused efforts to maintain a vibrant ecosystem. Most notably, these are: The BUIDL Program, Non Fungible Apes, Initial Ape Offerings, and the Golden BANANA.

ApeSwap’s BUIDL Program is a fast-track partnership program for new and early projects in the Binance Smart Chain Ecosystem. The emphasis of the program is to support new projects and grow together. BUIDL Program Candidates go through a series of three steps to become official ApeSwap partners: Apply, Build, Rewards.

The program was designed to incentivize projects to utilize ApeSwap’s DEX and LP tokens over other options in the space, while giving back to those projects for their commitment and efforts. So far ApeSwap has seen dozens of applicants and a handful of projects migrating liquidity.

Non Fungible Apes (or NFAs) are a cryptographically generated set of 1,000 unique, rare, immutable, digital apes. Each ape is created by hashing a string (such as “Strong Ape”) to randomly generate a set of 6 characteristics: Base, Face, Frame, Mouth, Eyes, and Top.

Each characteristic has a different likelihood of occurring in each ape generation, making some characteristics much more rare than others. For instance, only 32 apes have laser eyes and only 107 apes have sunglasses. Each ape has a score generated based on the combined rarity of its characteristics (more details about rarity can be seen in the Github repo).

Apes are released in batches, usually 100 at a time to maintain excitement and hype. The latest release happened on April 17th, with NFAs being available on three marketplaces: NFTKey, Lootex, and Treasureland. Learn more about NFAs and future releases by joining our NFA Telegram group.

An Initial Ape Offering (IAO) is a fundraising vehicle utilized to launch new tokens and bring liquidity to those tokens. In general, BANANA-BNB LP tokens are needed to participate in an IAO. Users are trading those LPs for the token being launched. In an IAO, the project gets the BNB, ApeSwap burns the BANANA. With ApeSwap’s first three IAO’s $400,000, $700,000, and $1,000,000 were raised, selling out in just minutes.

Recently, ApeSwap released just one of many planned innovations for their Decentralized Exchange: the Golden Banana. The benefits of Golden Banana are bountiful, with the primary benefits focused on long-term and loyal community members. Among them, we can find passive farming, exclusive IAO Access, special pools to earn other tokens, and core governance features at ApeSwap. Additionally, GNANA is backed 1:1 with BANANA’s, so they can always be converted back into BANANAs.

LINKS:

APESWAPE.FINANCE

Telegram: t.me/ape_swap

Twitter: twitter.com/ape_swap

Instagram: instagram.com/ape_swap

CONTACT:

Telegram: @apeluisa

[email protected]

The post ApeSwap.Finance: A Friendly Twist on Decentralized Exchanges appeared first on BeInCrypto.

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