ApeRocket to Launch V2 and New Tokenomics

The new vaults offer a unique rewards path as well as vault asset strategies that are fresh to Binance Smart Chain.

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BSCNews
on
October 1, 2021
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Ready For Takeoff

After a few months of development, the ApeRocket team has announced that V2 of their platform is right around the corner. The ApeRocket mission is to provide high quality vaults to users on Binance Smart Chain (BSC), and the upgraded version of their platform adds new features to their system of vaults.

The upgrades in V2 stretch across fee structuring, vault asset strategies, rewards for locking the SPACE token, as well as boosted Annual Percentage Yields (APYs) related to the token.

All ApeRocket smart contracts have been audited by PeckShield and Mutative, giving their users a sense of security in terms of their safety.

Source


New Vaults and Asset Strategies

ApeRocket V2 will introduce specific asset strategies for three platforms: ApeSwap, Biswap, and PancakeSwap. 

“Users will be able to stack their assets in these vaults and will receive avTokens in return that match their actions. ApeRocket will manage the staking and auto-compounding of the rewards earned with these assets,” an ApeRocket Medium post detailing the launch revealed.

The auto-management of the assets will simplify the process of earning yields for users.

Two other types of vaults will be added in V2 as well - Maximizer and Optimizer vaults.

Maximizer

These vaults help to minimize exposure to impermanent loss through auto-compounding yields earned from BANANA-BNB Liquidity Pool (LP) token pairs that have been deposited into the Single Banana Pool. This is done instead of earning the underlying while the protocol sells the rewards for more LP tokens.

Optimizer

These vaults are focused on optimizing the sales of rewards from the BANANA-BNB pairs, increasing the frequency of the rewards. This vault is unique in that it doesn’t sell rewards on each harvest call and split it into the two tokens making up the LP. Instead, between each call it maximizes the amount of rewards accumulated, and then executes an optimized one-sided supply of currency. This both minimizes dust and increases the amount of return from each call.


Fee Structures

While the overall fee model has not changed, new flexibility has been added depending on what strategies users employ. This can lower performance fees corresponding to the strategy used, with their Medium post using GNANA as an example:

  • Performance fee: 30% on profits. In return, a SPACE Token is issued.
  • Withdrawal fee: 0.5% if withdrawn within 72 hours of deposit.

The APYs on the platform are connected to both their Total Value Locked (TVL) and the price of the SPACE token. The higher the TVL, the higher the amount of performance fees that are collected in BNB.

These fees are then used to provide liquidity to the SPACE token, with a percentage of BNB swapped to SPACE to create a one-sided liquidity offer that increases the value of SPACE.


SPACE Vesting

When users acquire new SPACE tokens, they do so over a period of 13 weeks. During this time they are provided an xSPACE token to represent their SPACE tokens. xSPACE can then be placed into the StakingRewards smart contract to redistribute the currency earned from their vaults. This helps keep the supply of SPACE from becoming too high, which would lead to dilution and inflation. SPACE can also be locked anywhere from 1 to 100 weeks. 

For locking SPACE, users receive a variety of benefits.

Revenue Sharing

ApeRocket has a strong commitment to their community and seeks to reward their loyalty. Users who lock their tokens longer will receive more rewards in both WBNB and SPACE.

Boosted APYs

Users who lock in SPACE tokens will receive boosted APYs on their locked tokens. The amount of boosting is determined by 3 factors: amount of SPACE locked, the value the user has in the vaults, and the time period their SPACE is locked.

Governance

Users who hold xSPACE will have the ability to participate in protocol governance. This will allow them to participate in decisions regarding the future of the platform. Holders can create proposals, vote on other proposals, and shape the overall trajectory of ApeRocket.


Roadmap

ApeRocket still has many plans for the future beyond the upcoming V2 release. From their Medium, some of these plans include:

  • More complex performance strategies.
  • V3 with leveraged vaults.
  • Marketing / Growth Pipeline
  • Educational content

The platform has narrowed their focus to a handful of key points, which will help them sharpen their approach to those goals.

Conclusion

With the release of V2, ApeRocket is positioning itself to become a strong vault platform for BSC users. Their unique APY boosting could drive both adoption and value for their SPACE token. Because their vault mechanisms are unique on the BSC network, they have the potential to take a large market share in that industry.

To learn more about ApeRocket, visit the following links:

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