Ape Swap A Decentralized Exchange – Automated Market Maker, Yield Farming & Staking Platform On Binance Smart Chain

Published on: 31.05.2021

ApeSwap is an exchange on the Binance Smart Chain. It lets you, like most things with the Binance Smart Chain, do swaps extremely quickly and cheaply. It also offers the standard set of liquidity pooling/staking that most DeFi services offer letting you stake liquidity pairs like BNB/BUSD for % APY returns as well as non-pair traditional (and safer) staking for a lower % APY.

Basically, ApeSwap lets you exchange tokens on the Binance Smart Chain for cheap as well as yield farm. The native token of the platform is the BANANA.

ApeSwap Features

Exchange : Apeswap can be used as a trading platform, since the exchange its an automated market maker (AMM) that allows any combination of two tokens to be exchanged on the Binance Smart Chain. Swapping tokens is easy and cheap. If you’ve ever used any other swapping service it works pretty much exactly the same.

ApeSwap Pools allow Binance Smart Chain projects to bootstrap adoption by distributing a portion of their tokens to BANANA token holders. They also allow existing projects to start a relationship with their amazing community.

Yield Farming : Users can earn BANANA with yield farms, users can also earn BANANA through staking, and earn even more tokens with the apeswap pools.

Lottery : Win big with the ApeSwap Lottery

Ape Initial Offering (AIOs): Participate in Initial Ape Offerings (or IAOs) to catch hot projects early.

Non Fungible Apes (NFAs): 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.

Tokens And Economics

About BANANA

Banana is the native currency used on the apeswap platform. The $Banana is used to participate in most of the initiatives, liquidity,staking and mining campaigns of the apeswap.

Banana can be burnt over time, the ape devs have already planned to burn banana as they grow and continue to get community support. Theres actually a first of its kind Banana burn map in which whenever a milestone is achieved it will trigger a banana burn.

About Golden Banana

The Golden Banana has been designed specifically to reward loyal ApeSwap community members, who stick with us through thick and thin. Golden Banana holders are true Apes, and anticipated on treating them like V.I.Ps in their ecosystem.

Features of Golden Banana (GNANA) :

Passive Farming :

Golden banana is a reflect token with a 2% transfer fee. With GNANA holders get a share of the fee proportional to their holdings just by having it in their wallets.

Gain exclusive IAO Access :

With GNANA you can gain access to exclusive token allocations for Initial Ape Offerings. The purpose of this is to increase the $BANANA being burned and combat the whale problem in the current overflow model IAO’s.

Exclusive Pool Access :

Well, on top of the exclusive IAO access, Apeswap devs will have GNANA-only staking pools for all apeswap-finance most loyal apes. Stake GNANA and enter exclusive pools to earn other tokens.

Governance :

Oh yes, you read it right, apeswap devs intent is to use GNANA as the core governance token of Apeswap. Although this won’t happen immediately, rather it will be progressive over time as DeFi apes continue to integrate GNANA into the ApeSwap ecosystem. The long term goal is to give power to the ape community, the Apes that matter the most of course.

Burning :

Ape Swap community wouldn’t let the DeFi apes to release something without a pyromaniac feature to burn $BANANA.So in order to purchase $GNANA there is a 28% burn fee + the 2% reflect fee, resulting in a 30% cost when going from Banana to GNANA.