SAFU ApeSwap Report
ApeSwap.Finance is dedicated to keeping users and their funds safe. They take this very seriously, so below is a breakdown on exactly how they honor that commitment
Uniswap has led the way for decentralized exchanges with an excellent security track record from when they launched in 2018. When Uniswap launches a new version, they go through an extensive audit to make sure all of their code is safe. This in-depth auditing process allows them to fix any security issues before releasing their DEX to the public. ApeSwap is based off of Uniswap V2, where there were no major findings uncovered during their audit.
🔸Safety First: ApeSwap’s Golden Rules
More specifically, ApeSwap’s approach to security manifests itself in a few Golden Rules of security that they hold near and dear at ApeSwap.
- Move Slow, Don’t Break Anything — When it comes to innovating from a smart contract perspective, they’re intentionally slow to move. They would much prefer to their our time on getting a new feature out rather than putting users at risk.
- Move Fast Where There is Low Risk — When it comes to innovating on the business development side of things, they want to move as fast as possible. Low-risk updates like new farms, pools, and UI features are where they drive most of innovation and change.
- Audit First, then Deploy — Before they launch anything of importance or that could impose a substantial risk to users, they make sure to get it cleared through an audit. For example, before the launch of Golden Banana, they had BSC GEMZ perform an in-depth audit on contract code.
- Don’t Reinvent the Wheel — As you’ll see throughout the rest of the article, they’ve stuck with the most battle-tested DEX smart contracts in existence, ensuring the safety and longevity of ApeSwap.
For those who want ALL the details, they introduced the article which will compare Uniswap’s DEX contracts with ApeSwap’s DEX contracts to show the similarity and reassure all Apes in the jungle that your funds are Safe.
In conclusion, they essentially have the same security standards as Uniswap. While there have been general security concerns in the DeFi space, the ApeSwap team is confident in security standards and want to reassure you all that your funds are SAFU.
What is ApeSwap?
ApeSwap is a Decentralized Exchange / Automated Market Maker, Yield Farming, and Staking platform running on Binance Smart Chain, with lots of other features that let you earn and win tokens. ApeSwap was built by DeFi Apes, for DeFi Apes. They have a dedicated team of experienced monkeys, who have been in the crypto space for years. BANANA is the native currency of their platform. Stake, pool, and earn $BANANA (along with many other tokens) all on ApeSwap.
đź“° INFO:
https://ape-swap.medium.com/the-apeswap-jungle-is-safu-41a5416f6e9b
