ApeSwap Ends NFA Auctions, Aims for Utility Growth

The NonFungibleApe auctions have been a big hit. Now, the protocol will go for utility in October, ensuring that NFA holders make a profit.

By
Utulu Hope
on
September 25, 2021
Category:
BSC News

ApeSwap Continues With NFA Utility 

ApeSwap’s Non-fungible Token (NFT) auctions are about to end. With just three NonFungibleApes (NFA) left for auction, the multi-chain Decentralized Exchange (DEX) is set to focus on expanding its utility. 

After selling out the first NFA for over 9 BNB, the protocol recorded its highest sale worth a staggering 219.3 BNB. In addition, there are over 320 unique NFA holders, over 1000 minted NFAs, and a trading volume of over 11K BNB. Following this success achieved during the NFA auction, ApeSwap has set sights on new waters. The protocol announced its latest plans in a tweet on 26th September. 

“As our final #NFA auctions reach their epic conclusion, let’s touch on expanded utility!” the DEX tweeted. “Coming in October: Self-serve #NonFungibkeApes Auction House.NFA Staking pools to earn $BANANA.” 

Without a doubt, the NFA auctions have produced some mouth-watering sales since its inception on 31st July, and the excellent records cannot be overemphasized. Moving forward, the protocol will launch a self-serve NFA auction house, NFA staking pools, partner with more projects, and airdrops in collaboration with projects. 

Source

Benefit For NFA Holders 

According to ApeSwap’s tweet on 25th September, NFA staking pool will offer up to 50% of auction profits. In addition, users will also be able to stake NFA to earn $BANANA

“The #NonFungibleApes staking pool is coming! 50% of auction profits to be added. Stake your #NFA to earn $BANANA. Launching in October,” tweeted ApeSwap. 

The month of October will be another one to look out for. Judging by the way ApeSwap governed the NFA auctions, adding a use-case to these NFAs via the plans above will be a small task for the multi-chain DEX. Nevertheless, October is almost here, and we anticipate more progress. 

What is ApeSwap? 

ApeSwap is a leading multi-chain AMM built on BSC and Polygon that focuses on offering a premier trading experience. The massive protocol built by an experienced team has various features that include yield farms, which incentivizes users to earn their native currency, $BANANA. 

Apes can stake $BANANA to earn other tokens and unlock exclusive features. The dedicated team has achieved over $350m in TVL and 80+ partnerships. ApeSwap truly lives up to its name and shows users how ApeSwap is “built by DeFi Apes for DeFi Apes.” ApeSwap is committed to the DeFi community and wants to build the best DEX trading experience and grow the ApeSwap Jungle for years to come.

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. He hodls mostly in Ethereum, BNB, and, Avax.

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