ApeSwap Fires Lottery Backup with BANANA Burn in Partnership with GummyBull

The partnership will provide incentives for users and promote the burning of the $BANANA token.

By
Utulu Hope
on
September 24, 2021
Category:
BSC News

ApeSwap Announce Lottery With GummyBull 

ApeSwap has partnered with lottery token on Binance Smart Chain (BSC), GummyBull, to launch a lottery that will promote $BANANA burns and increase its value while rewarding participating users. 

The lottery will also feature some exciting competitions, and according to ApeSwap’s Twitter announcement on 23rd September, the lottery with GummyBull will take place every 24 hours, starting from 24th September at 18:00 UTC. 

“The lottery is back! And this time it burns $BANANA @Gummy_Bull,” ApeSwap tweeted. 

Every day, a new Gummy Lottery will be launched at 18:00, and the winner will be selected at random after 24 hours. Users need to purchase tickets to participate in a very simple way.

Source

How to Participate? 

As stated earlier, it is straightforward to enter into the lottery. Anyone can use $GUMMY tokens to purchase tickets. What’s more, users can buy tickets without limitations. 

One ticket is worth 1 $GUMMY token, and winners are selected at random. In addition, users amplify their chances of winning by purchasing many tickets.  

“The lottery draw is uniformly and randomly performed among participants: the more tickets you purchase, the more chances you have of winning the lottery (pro-rata),” ApeSwap’s Medium on 23rd September explained. 
Source

The lottery winner will receive two things. First, a GUMMY pot automatically accumulates GUMMY tokens every day from the transaction fees applied on every GUMMY transaction. Secondly, the winner will receive 50% of the entire GUMMY tokens used to purchase tickets. 

BANANA Burn And More... 

As stated earlier, the lottery will promote ApeSwap’s $BANANA burn. According to ApeSwap’s publication, purchased tickets will be divided into three categories: 

  • 50% sent to the daily lottery winner. 
  • 40% burnt 
  • 10% used to buy back BANANA tokens and burn them. 

The lottery will also be a build-up to other interesting features. Both protocols will combine to launch farm and pool after $GUMMY is listed on ApeSwap. In summary, $GUMMY will be listed on ApeSwap, BANANA farm (staking GUMMY-BNB to earn BANANA), and GHANA pool (staking GHANA to earn GUMMY) will all be introduced. 

Other exciting features from the partnership can be seen in the ApeSwap article


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

Tags:
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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