panjilaras: Apeswap.Finance

ApeSwap - A next evolution DeFi exchange on Binance Smart Chain (BSC)

Introduction:

ApeSwap is an Automated Market Maker, Yield Farming, and Staking platform on Binance Smart Chain (forked from PancakeSwap). ApeSwap was built by DeFi Apes, for DeFi Apes. We have a dedicated team of experienced monkeys, who have been in the crypto space for years. $BANANA is the native currency of our platform. Stake, pool, and earn $BANANA all on ApeSwap.

DeFi which is otherwise known as Decentralized Finance has been a big blessing to the blockchain industry and the world at large. As we know cryptocurrency serves as a decentralized store of value that is secured, DeFi creates a decentralized financial instrument free from traditional centralized institutions. The DeFi world has seen rapid growth in 2020, back in 2019 the worth of the DeFi industry was $275M. But by Feb 2020 it value grew significantly totalling $2.5B in early July, $3B by mid-July, and $4B on the 25 of July. This growth rate indicates the rise in interest of the masses in DeFi.

Just like the ICO boom of 2017–2018, they have been a rise in scam project within the DeFi space. This scam project has taken advantage of the rise in popularity of the DeFi industry. The people most affected are, newcomers, into the DeFi space who haven’t or cannot properly research these projects. As a writer in the blockchain industry, I have decided to create this post to help newcomers in identifying legit and genuine projects. They are a lot of them out there. Today I would be talking about one of the best I have come across. I must say this project is one of the DeFi project survivors of 2021.

Are you a fan of #DeFi and #NFTs because you can easily get a passive income by just doing staking and add pools liquidity to receive some nice reward? If yes, this article is was really suitable for you and I have something spicy for you.

As you know Automated Market Maker (AMM) has become the famous target for any kind of investment activity right now the reason was simple, because of a successful AMM project like Uniswap, PancakeSwap & BakerySwap is one of the reasons to motivate other developers to create another AMM Decentralized Exchange and I want to give you another project with the same like them.

Meet BitFresh — IAO #003

No Luck Needed — Third Time’s the Charm

Apes, you’re not going to need any luck with this Initial Ape Offering —it’s an absolute gem 💎 Get ready for BitFresh.Win coming to ApeSwap’s IAO Launch Platform!

It’s important to note that this IAO will have two components:

A Primary Offering — IAO Business as Usual
A Secondary Offering — IAO Tokens purchased with $GNANA

Both offerings will occur at the same time and for the same token price, but they will be on different UI pages, have different hard caps, and use different methods for purchasing $BFT. Read all the details below.

Details about the Primary $BFT Offering

The primary sale takes place at ApeSwap.Finance/IAO, one hour long, and you need BANANA-BNB LPs to participate — just like normal.

Sales Page: IAO Page — https://apeswap.finance/iao

Launch Time: April 24th at 03:00 UTC

Token Price: $0.01 per $BFT (paid in BNB-BANANA LPs)

For Sale: 100,000,000 $BFT

Hard Cap: $1,000,000

BANANA to Burn: $500,000

Duration: 1 hour ($BFT is going quick!)

If you need a refresher on how to participate in a standard IAO, check out the details in our docs!

Secondary $BFT Offering: The Golden BANANA

As you might’ve noticed, we published some additional details on our Golden Banana token ($GNANA). You can read all the details about it here, but for the purposes of the BFT Initial Ape Offering, here’s what you need to know.

NOTE: You still pay for the IAO with GNANA, it’s not staking, your GNANA will be used as funding for the IAO and you will get the BFT tokens in return. Of course, we burn half still.

Sales Page (COMING SOON): The ApeZone — https://apeswap.finance/apezone

Launch Time: April 24th at 03:00 UTC

Token Price: $0.01 per $BFT (paid in $GNANA)

For Sale: 10,000,000 $BFT

Hard Cap: $100,000

GNANA to Burn: $50,000

Duration: 1 hour ($BFT is going quick!)

About BitFresh

Bitfresh is the first community-driven iGaming platform where everyone wins! You’ll find all your favorite games and more in a provably fair environment built on-chain from the ground up. All user bets count towards earning the native Bitfresh token, and holding $BFT allows you to earn a share of house profits.

Learn more about BitFresh, their platform, the token economics and more over at their official site.

What’s Next for ApeSwap?

We have 3 foundational pillars that capture the essence of ApeSwap:

Community — We are DeFi Apes, and we have to look out for each other. A robust, vibrant, and happy community is the #1 priority for keeping ApeSwap thriving. We joke about monkeys and bananas, but at the end of the day, our community is top of mind.
$BANANA Utility — Our dev apes will continue working furiously to implement new features to get the most use out of your $BANANA! We understand the importance of creating utility, holding patterns, and demand for our dear Apes 🍌
Collaborations —We understand the importance of working with other #BSC projects in the space. We are actively looking and discussing with projects across the space to land mutually beneficial partnerships (hit us up if you’re interested)!

That’s Great! But What does it Mean?

Tangibly, here’s what that means for next steps on ApeSwap.

Over the next month, this is our to-do list to accomplish the vision we shared above.

Add 5 new farms & pairs 🚜
At least 1 new pool with a partnered token 🤝
Implement a $BANANA lottery 🍌
Improve our charting functionality 📈
Differentiated marketing (organic and inorganic) 👋
Many, many burns 🔥
Meme contests and community engagement 🏆
Run a community-driven design competition 👨‍🎨
Growing our team a bit ❤️

We look forward to continually delivering on all of this for you cute little monkeys. We’re in this for the long run!

How can i use ApeSwap?

Find a wallet compatible with Binance Smart Chain (we recommend MetaMask). Here's a great guide on how to get started! Go to ApeSwap.Finance to trade, bet and combine.

Does ApeSwap have liquidity mining? Yes! We start with $ BANANA Frenzy. Click this tab to find out more.

Does ApeSwap use its own liquidity pools? Yes! ApeSwap uses its own original liquidity pools :)

Where did ApeSwap get its code from?

We are a fork from the original PancakeSwap! See all our code on our GitHub at https://github.com/ApeSwapFinance

Token $ BANANA

Monkeys need to eat. It's a pretty simple concept. This is why we created ApeSwap to create the $ BANANA token to fuel the Binance Smart Chain Ape community.At the end of the day, Apeswap will get connected to the next big project. Well, ApeSwap is a project and we are sending monkeys to the moon.

ApeFinance is built on transparency and fair lunch princple

Transparency: around the token and our project and our actions. We understand that this trust will take time to build.

Fair Launch: Check out the disclosure section for a list of all the decisions we made in connection with the launch and why we made those decisions.

Disclosure of Our Activities: If we spend funds on development, we will document what those funds were used for in the Development Fund section of this GitBook and include the TX hash. If we update smart contracts, we will use a temporary lock and document this.

Decentralized finance is gaining momentum and we are very monkeys (new optimism) on Binance Smart Chain. We think we can do better than any existing project and are thrilled to ride this rocket with all the real DeFi monkeys

Tokenomic

Symbol: $ BANANA

Token Name: Banana Token

ApeSwap started with 5 starter farms:

BANANA / BNB

BANANA / BUSD

BNB / BUSD

BTC / BNB

ETH / BNB

Since then, we have been constantly adding farms for well-known projects and new partners. Visit ApeSwap.Finance/Farms anytime you want to see the latest offers from farms!

Pools

Monkeys want to have fun together, and when you are having fun, you get hungry. That's why we have a banana pool so you can have fun with other monkeys and eat more bananas. Obi Dobo will keep the zoo tidy and the bananas ripe and ready to harvest.

Initially, we only started with the $ BANANA pool, but since then we have added and continue to add new pools for all our monkeys. For the latest news on pools, visit ApeSwap.Finance/Pools.

ApeSwap exchange

Apes standard stuff, 0.3% swap fee. Obi Dobo needs to keep the zoo up and running so we can keep the rocket on its way to the moon. 0.05% of the swap fee will go to the developer wallet. The rest go to the monkeys at the zoo.

Burning Map $ BANANA V2.0

The monkeys in ApeSwap love to burn $ BANANA. We try to keep things interesting and keep our BANANA stocks under control, so we burn them regularly. But we also love to strive for great events!

Meet $ BANANA Burn Map V2.0 (we already burned the first one!). Each position on the recording map will trigger a recording by our team! Read the infographic below for details.

How to participate in the IAO

To participate in the IAO and see which ones are coming, visit ApeSwap.Finance/IAO.

To participate in IAO sale:

Buy BNB and BANANA tokens.

Receive BANANA-BNB LP Tokens by providing liquidity on ApeSwap.

What to do during the sale:

While the sale is in progress, transfer your BANANA-BNB LP tokens to purchase IAO tokens. You buy tokens with your LPs. This is not the same as "bet".

What to do after sale:

When the sale is complete, collect your purchased IAO tokens. Your unspent funds will also be sent back to you.

Made! In case of exceeding the subscription limit, you can withdraw the remaining BANANA-BNB LP tokens.

What is the Overflow Selling Method?

TL; DR: Basically, the more you put in, the more you get, and you get back whatever was not spent.

In the overflow method, users can subscribe to the IAO in any number or less, and their final allocation will be based on the amount they invested as a percentage of all funds invested by other users at the end of the sale. Users will receive back any remaining funds when they claim their tokens after the sale.

Road map

Timeline of the future ApeSwap exchange

March 2021: Introduction of the lottery system, non-interchangeable monkeys and additional user interface improvements.

April 2021: Expanded Burn Mechanics (more on that soon!) And UI Update, NFA Marketplace.

May 2021: Additional Utility and Gamification for NFA Holders, CEX Listing

June 2021: Adding $ BANANA Governance

September 2021: AutoFarm and Vaults

November 2021: Variable Yield Farms are game pools whose returns grow with liquidity and participants.

Announcing ApeSwap: Binance Smart Chain AMM

Here at ApeSwap.Finance, we have one goal. Sending all DeFi Monkeys to the moon 🚀 Join us on our celestial mission, fueled by $BANANA, to rocket ourselves into outer orbit.

What is ApeSwap?

You can view our platform and additional details at ApeSwap.Finance 🦍

Tell me about this $BANANA Frenzy?

Monkeys were made to go to the moon. Together.

To get us there, we’ve designed a special Liquidity Mining and Staking Program — called the $BANANA Frenzy. Here’s how it works:

The first 72 hours, 40 $BANANA minted per block
The second 72 hours, 20 $BANANA minted per block
Forever after, 10 $BANANA minted per block

Note: 10% of all rewards will go to the dev fund to be burned and used for operations over time. Rewards will start at block 4860914.

Are you gonna burn $BANANA?

Of course! We have lots of burning planned as we grow and continue to get community support. We’ll make sure to announce it each time we burn 🔥

Additionally, we have designed a first-of-its-kind $BANANA Burn Map. Work together as a community to hit milestones and trigger a $BANANA burn

Contract Details

BananaToken: 0x603c7f932ED1fc6575303D8Fb018fDCBb0f39a95

MasterApe: 0x5c8D727b265DBAfaba67E050f2f739cAeEB4A6F9‌

SupportApe: 0x54aff400858Dcac39797a81894D9920f16972D1D‌

BananaSplitBar: 0x86Ef5e73EDB2Fea111909Fe35aFcC564572AcC06‌

MultiCall: 0xc7Ad54Ff5C04A6E39D8C874A021aB0E42C45dE81‌

Timelock: 0x2F07969090a2E9247C761747EA2358E5bB033460‌

ApeFactory: 0x0841BD0B734E4F5853f0dD8d7Ea041c241fb0Da6‌

ApeRouter: 0xC0788A3aD43d79aa53B09c2EaCc313A787d1d607

New Partnership Unlocked: KeyFi

To celebrate our #InitialApeOffering coming up with https://www.bitfresh.win/ (April 24th 03:00 UTC), we are giving away 100 $BANANA to 5 apes each

Golden Banana is coming

The time has come Apes 🐵 we are soon ready to release the long-anticipated Golden Banana ($GNANA)!

As you have been diligently clicking the Ape Harder button, we have been tirelessly working to bring you something that has never been seen before in the Decentralized Exchange space

We have designed the Golden Banana specifically to reward loyal community members, who stick with us through thick and thin. Golden Banana holders are true ApeSwap Apes, and we anticipate on treating them like V.I.Ps in our ecosystem.

Introducing the $GNANA

How does it work? Pretty simple. The Golden Banana (or better known as it’s ticker symbol — GNANA) has a number of properties:

Passive Farming

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

Exclusive IAO Access

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. We have seen a lot of potential solutions for this, but nothing that truly works in our opinion.

Any whale that wants to come to ApeSwap for the IAO, but not remain a long-term holder will get penalized when they swap back to BANANA from GNANA through the burning fee (details below).

For the upcoming BitFresh IAO on April 24th at 03:00 UTC, you will be able to participate by staking GNANA. For this first test run we allocated 100,000 BFT of the 1,100,000 being sold. We will increase this allocation as our users get more comfortable with GNANA. Note: you still spend the GNANA for the IAO!

Exclusive Pool Access

On top of the exclusive IAO access, we will have GNANA-only staking pools for all our most loyal apes. Stake GNANA and enter exclusive pools to earn other tokens!

Governance

Could it get juicier? YES it can. Our intent is to use GNANA as the core governance token of ApeSwap.

This won’t happen immediately and will be progressive over time as we continue to integrate GNANA into the ApeSwap ecosystem. Our long term goal is to give power to our community, the Apes that matter the most of course.

We do not have this fully baked out yet, and need to prove out the GNANA concept with our community first. Additionally, we plan to use snapshots to handle governance, like most DeFi platforms.

Burning

Apetastic wouldn’t let us release something without a pyromaniac feature to burn BANANA. To purchase $GNANA there is a 28% burn fee + the 2% reflect fee, resulting in a 30% cost when going from BANANA → GNANA.

Backed 1:1 by BANANA

The GNANA is ultimately backed 1:1 by BANANA’s. You can always swap your GNANA back to BANANA. This would all come after the 30% fee so be mindful if you’re thinking of going back!

If someone was to sell their precious GNANA, that supply is locked up in a treasury fund and ultimately available for purchase from the next person that wants GNANA. As a user you get 1 BANANA per GNANA when you sell. If someone was to purchase GNANA and there was none in the treasury, new GNANA is minted.

Note: ApeSwap does not control or own the treasury supply! It is a smart contract that controls all the above mechanics

Example

Let's walk through an example. If DK wanted to spend 100 BANANA to get the incredible GNANA, he would ultimately receive 70 GNANA. This is due to the 2% reflect fee and the 28% burn fee. REMEMBER you DO NOT get those fees back if you were to swap back to BANANA down the line.

DK could then go stake those GNANA to earn other tokens, use them in upcoming IAO’s and eventually vote to contribute to the DEX he calls his home jungle.

Other items to note

P.S. — We may increase the burn fee down the line so get those GNANA while they are cheap!

P.S.S. — the GNANA does not have a price nor will we open up a trading pair or farm for it. Its core utility will be the functions outlined above. The only time there is a price referenced is for IAO’s, where GNANA would be valued at 1.28x the current BANANA price.

We couldn’t be more thrilled to release the GNANA, and we will continue to integrate it into ApeSwap.