ApeSwap is that project and we are taking monkeys to the moon

Introduction:

ApeSwap is an Automated Market Maker, Yield Farming, and Staking platform on Binance Smart Chain (forked from PancakeSwap). ApeSwap was built by DeFi Apes, for DeFi Apes. We have a dedicated team of experienced monkeys, who have been in the crypto space for years. $BANANA is the native currency of our platform. Stake, pool, and earn $BANANA all on ApeSwap.

DeFi which is otherwise known as Decentralized Finance has been a big blessing to the blockchain industry and the world at large. As we know cryptocurrency serves as a decentralized store of value that is secured, DeFi creates a decentralized financial instrument free from traditional centralized institutions. The DeFi world has seen rapid growth in 2020, back in 2019 the worth of the DeFi industry was $275M. But by Feb 2020 it value grew significantly totalling $2.5B in early July, $3B by mid-July, and $4B on the 25 of July. This growth rate indicates the rise in interest of the masses in DeFi.

Just like the ICO boom of 2017–2018, they have been a rise in scam project within the DeFi space. This scam project has taken advantage of the rise in popularity of the DeFi industry. The people most affected are, newcomers, into the DeFi space who haven’t or cannot properly research these projects. As a writer in the blockchain industry, I have decided to create this post to help newcomers in identifying legit and genuine projects. They are a lot of them out there. Today I would be talking about one of the best I have come across. I must say this project is one of the DeFi project survivors of 2021.

Are you a fan of #DeFi and #NFTs because you can easily get a passive income by just doing staking and add pools liquidity to receive some nice reward? If yes, this article is was really suitable for you and I have something spicy for you.

As you know Automated Market Maker (AMM) has become the famous target for any kind of investment activity right now the reason was simple, because of a successful AMM project like Uniswap, PancakeSwap & BakerySwap is one of the reasons to motivate other developers to create another AMM Decentralized Exchange and I want to give you another project with the same like them.

What is ApeSwap?

ApeSwap is a Decentralized Exchange / Automated Market Maker, Yield Farming, and Staking platform on Binance Smart Chain (forked from PancakeSwap). ApeSwap was built by DeFi Apes, for DeFi Apes. We have a dedicated team of experienced monkeys, who have been in the crypto space for years. $BANANA is the native currency of our platform. Stake, pool, and earn $BANANA all on ApeSwap.

You can view our platform and additional details at ApeSwap.Finance

What is $BANANA?

$BANANA is the native currency to ApeSwap. It's required to participate in most of our initiatives, liquidity mining campaigns, and liquidity pools.

$BANANAs make the world go round.

How can I use ApeSwap?

Find a Binance Smart Chain compatible wallet (we recommend MetaMask). Here's a great guide on how to get started!

Head over to ApeSwap.Finance to swap, stake, and pool.

Earn $BANANA!

Does ApeSwap have Liquidity Mining?

Yes! We are starting things off with a $BANANA Frenzy. Head over to that tab to learn more details.

Does ApeSwap use it's own liquidity pools?

Yes we do! ApeSwap uses our own original liquidity pools :)

Where did ApeSwap fork its code from?

We are a fork from the original PancakeSwap! See all our code on our GitHub at https://github.com/ApeSwapFinance

$BANANA Token

Apes need to eat. It’s a pretty simple concept. That’s why we built ApeSwap to create the $BANANA token to fuel the Binance Smart Chain Ape community.

At the end of the day, we are all trying to ape into the next big project. Well ApeSwap is that project and we are taking monkeys to the moon.

We plan to uphold a number of pillars:

Transparency: around the token and our project, and our actions. We realize it will take time to build this trust.
Fair launch: Check out the disclosures section, we have listed out every decision we made around the launch and why we made those decisions.
Disclosures of our actions: If we spend dev funds we will document what the funds were used for in the Dev Fund section of this GitBook and include the TX hash. If we make updates to the smart contracts we will use a timelock and document that as well.

Decentralized Finance is blowing up, and we are very ape-ish (the new bullish) on Binance Smart Chain. We think we can do a better job than any existing project and are excited to ride this rocket with all the true DeFi Apes.

Symbol: $BANANA
Token Name: Banana Token
Community Leader: Obie Dobo, the Zookeeper and grandfather to CZ. He keeps the Apes in order, also $BANANA tokens make him happy ;)
Community Name: Apes

If you ape into ApeSwap, you will want to farm more $BANANA. We will have plenty of opportunities to grow that sweet sweet $BANANA.

ApeSwap started with 5 initial farms:

BANANA/BNB
BANANA/BUSD
BNB/BUSD
BTC/BNB
ETH/BNB

Since then we have continually added farms for well known projects and new partners. Visit ApeSwap.Finance/Farms anytime you'd like to see the latest farm offerings!

Pools

Apes want to party together and when you party you get hungry. That’s why we have the Banana pool, so you can party with your fellow apes and get more Banana's to eat. Obie Dobo will be sure to keep the zoo in order and the Bananas ripe and ready to pick

Initially, we started with just a $BANANA pool, but since we've added and continue to add new pools for all of our apes. If you want to see the latest on pools, you can visit ApeSwap.Finance/Pools

ApeSwap Exchange

Standard stuff Apes, 0.3% swap fees. Obie Dobo's gotta keep the zoo running so we can keep the rocket on track to the moon. 0.05% of the swap fee will go to the dev wallet. The rest go to the Apes in the zoo.

$BANANA Burn Map V2.0

The monkeys over at ApeSwap love burning $BANANAs. We try to keep things interesting and our BANANA supply in check, so we are doing regular burns. But we also like to burn at significant milestones!

Meet, the $BANANA Burn Map V2.0 (we already torched the first one!). Each line item in the burn map will trigger a burn by our team! Read the infographic below for specific details.

Initial Ape Offerings (IAO)

Everything you need to know about IAOs

Getting Started with IAOs

An Initial Ape Offering (IAO) is a fundraising vehicle utilized to launch new tokens and bring liquidity to those tokens. In general, you need BANANA-BNB LP tokens to participate in an IAO. Essentially you are trading those LPs for the token being launched.

In an IAO, the project gets the BNB, ApeSwap burns the BANANA.

How to participate in an IAO

To participate in an IAO and see which are coming up, visit ApeSwap.Finance/IAO.

To get prepared for the sale:

Purchase both BNB and BANANA tokens.

Get BANANA-BNB LP tokens by providing liquidity on ApeSwap.

What to do during the sale:

While the sale is live, commit your BANANA-BNB LP tokens to buy the IAO tokens. You are purchasing the tokens with your LPs. This is not the same as "staking".

What to do after the sale:

When the sale is complete, claim the IAO tokens you've bought. Your unspent funds will also be sent back to you.

Done! In the case of an oversubscription, you can unstake your remaining BANANA-BNB LP tokens.

What is the “Overflow” sale method?

TLDR: Basically, the more you put in, the more you will get, and you’ll get back anything that doesn’t get spent.

In the “Overflow” method, users can subscribe as much or as little as they want to the IAO, and their final allocation will be based on the amount of funds they put in as a percentage of all funds put in by other users at the time the sale ends. Users will receive back any leftover funds when they claim their tokens after the sale.

Roadmap

Future ApeSwap Timeline
March 2021: Introduce Lottery System, Non Fungible Apes, and additional UI enhancements
April 2021: Advanced burning mechanics (More to come on this soon!) and UI revamp, NFA marketplace
May 2021: Additional utility and gamification for NFA holders, CEX Listing
June 2021: Add $BANANA Governance
September 2021: AutoFarm and Vaults
November 2021: Variable Yield Farms - gamified pools where the yields grow with liquidity and participants.