ApeSwap Delays Dragonary Initial Ape Offering Due to New IAO Vesting Proposal

The seventh Initial Ape Offering date with Dragonary has been shifted, but the new vesting process enacted by users’ votes remains unchanged.

By
Utulu Hope
on
July 31, 2021
Category:
BSC News

ApeSwap Delays Seventh IAO With Dragonary

ApeSwap has shifted the date for its seventh Initial Ape Offering (IAO) with play-to-earn protocol, Dragonary, following a change in IAO vesting process enacted by community votes. 

BSC.News earlier reported ApeSwap’s partnership with Dragonary on July 29th to collaborate for its seventh Initial Ape Offering (IAO 007). The Decentralized Exchange (DEX) protocol scheduled the IAO for August 2nd. However, due to some quality changes that arose from the new IAO vesting proposal, the ApeSwap team has decided to postpone IAO 007, according to its Tweet, from 30th July. 

“With that in mind, we will be delaying IA0 007. The new date for Dragonary’s IAO is set for August 7th at 16:00 UTC,” read the official ApeSwap Twitter communication. 
Source

An IAO is a unique innovation created by the Binance Smart Chain-based DEX, ApeSwap. It was designed to support promising projects with fundraising by listing their tokens.

Projects like ApeRocket, Bitfresh, Hifi DeFi, JediYield, HyperuleSwap, and Bishares have shown massive development since utilizing ApeSwap’s IAO platform. Dragonary is the latest to join. 


Post IAO: ApeSwap’s New Dragonary IAO Date Explained 

The new vesting process requires that 25% of tokens will be distributed immediately and the remaining 75% of tokens will be distributed over three months. 

Notably, the change was provoked by community votes after many ApeSwap users proposed a change in the vesting process. Users voted on a new token claim structure, and the campaign lasted for five days (July 17 to July 21). 

To satisfy the needs of its users, the ApeSwap team has created a whole new set of smart contracts. The new smart contracts come with new audits to ensure that users' funds are safe and secure. According to the update, the date for completing the audits has been set, but there will be a need to test, review, and possibly re-audit codes if necessary.

Therefore, the postponement of the IAO is attributed to the fact that the ApeSwap team wants to make sure that the new smart contract codes, including audits, are working effectively. In essence, they want to have enough time to test the smart contracts before launching the IAO with Dragonary. 

With this, ApeSwap ensures that the safety of the community is its number one priority. In addition, users can anticipate a flawless IAO for Dragonary. 


About ApeSwap 

ApeSwap is a top name in the BSC network. It is the leading DEX on the BSC, which offers users the best trading experience. ApeSwap is a blend of a decentralized exchange, yield farming, staking, and an automated market maker (AMM). ApeSwap users are urged to partake in its liquidity pool offerings via yield farming to earn its native BANANA token. What's more, these earned tokens can be used to stake and earn other tokens and unlock deluxe features. 

For more information about ApeSwap, visit the platform's media links: 

Website | Twitter | Medium | Telegram


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Utulu Hope

UC Hope is a passionate fan of crypto who could weave the latest event into sparks of inspiration and information. He leaves no stone unturned to get to the core of a story. Aside from writing, he spends his hours poring over algorithms and protocols, preparing for a future career as a computer programmer.

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