ApeSwap Ecosystem Crosses $500,000,000 of Deposited Crypto Assets

ApeSwap, a fast-growing DEX on the Binance Smart Chain Network, continues to grow as Total Value Locked exceeds $500 million.

By
Chung Yee
on
August 15, 2021
Category:
BSC News

#HotDeFiSummer is Sizzling

The ApeSwap team continues to list an impressive array of products as it reached more than half a billion in Total Value Locked (TVL). The Decentralized Exchange (DEX) on the Binance Smart Chain (BSC) Network is picking up pace as it wraps up the last lap of its #HotDeFiSummer campaign. 

In the final month of its #HotDeFiSummer Campaign, Apeswap has unveiled some exciting Decentralized Finance (DeFi) projects and innovative features to its community. The ecosystem is growing steadily as ApeSwap also announced that it surpassed another major milestone by having more than 100 partners. 

“HYYYYYYYYYPPPPPPPPEEEEEEEEEE POOOOOOOOOOSSSSSSSTTTTTTTT $500,000,000 let’s goooooo 💦,” wrote ApeSwap founder Obie Dobo on Twitter.

The hype is real in this jungle. With additional features slotted to be implemented in August, ApeSwap will be introducing auto-compounding burning vaults and fifteen additional trading pairs across the BSC and Polygon network. 

ApeSwap continues to offer yield farming, staking and is also a leading automated market maker (AMM) on BSC.

Source 

ApeSwap’s Governance Proposals

ApeSwap will be putting six governance proposals to vote. Snapshot will take place on August 18 at 11.00 UTC. These governance proposals are as follows:

Proposal 4:   Polygon $BANANA emission 

Proposal 5:   Increase reward for $GNANA stakers  

Proposal 6:   Creation of an ApeSwap $BANANA treasury

Proposal 7:   Introduction of a new burning mechanism, burning pools

Proposal 8:   Burning vault allocation 

Proposal 9:   Barbecue.Finance BUIDL Graduation   

Source: Using $GNANA token, the ApeSwap community can vote on six governance proposals

Proposal 7 and 8––if implemented––will further improve the tokenomics of its native token $BANANA


Growing the ApeSwap Ecosystem 

The ApeSwap ecosystem focuses on DeFi projects to offer its community the best Annual Percentage Rate (APR) for yield farming. It has also grown its own Non-Fungible Token (NFT) market in 3 months to approximately $3 million by introducing Non-Fungible Apes (NFAs). 

It also admits new applicants into its BUIDL program, with its latest addition of CryptoMonkey Empire and Rug Zombie

Source: ApeSwap’s BUIDL program has two new applicants

The native token $ BANANA powers the ApeSwap platform. To earn $BANANA, users can partake in ApeSwap’s liquidity pools (LP) in various yield farming options. The $BANANA tokens can also be staked to earn other tokens and unlock deluxe features. 

$GNANA, on the other hand, is the core governance token. It is backed 1:1 by $BANANA. It allows its holders to vote on governance proposals. $GNANA can be staked for $BANANA rewards.   

The team behind ApeSwap has both its feet in the hottest growing segment of the crypto market: the NFT market of the DeFi space. With good governance and a strong community, ApeSwap is a project to keep an eye on.

About ApeSwap 

ApeSwap is a 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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Chung Yee

Chung Yee has a legal background and has been involved in research works for the legal and compliance industry. Writing is his passion, centered on topics such as the blockchain and finance. His largest crypto holdings are Solana, Ethereum, and BNB Token.

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