INTRODUCING
Blockchain is a digital transaction storage system that permanently records all transactions stored in a public database (or ledger). In essence, Blockchain ensures that the trustworthiness and validity of transactions that have occurred will be stored eternally in its database. This allows the Blockchain to digitally store and transfer value because any monetary input a transaction has can be considered correct.
In a traditional system, records of transactions that have taken place are kept by a central authority such as a bank, which collects and owns the transactions in their private databases. To ensure the trustworthiness and validity of transactions, central authorities need to maintain end-to-end protection of their databases and prevent hackers from modifying the information of their stored transactions. However, this method has a flaw because the central authority is the authoritarian owner of the data and is a single source of failure that is very vulnerable to hacker attacks.
Contrary to traditional systems, Blockchain is a secure method of storing data because it doesn't rely on a single central authority. As such, I am proud to be introducing you to one of the best blockchain project- ApeSwap.
APESWAP ECOSYSTEM AND STRUCTURE
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.
APESWAP'S CURRENCY
$BANANA is the native currency to ApeSwap. It's required to participate in most of our initiatives, liquidity mining campaigns, and liquidity pools.
APESWAP LIQUITY POOLS
ApeSwap liquidity pools allow you to provide liquidity by adding your tokens to liquidity pools or “LPs”.
When you add your token to a liquidity pool (LP), you will receive APE-LP tokens (ApeSwap’s version of liquidity provider tokens).
As an example, if you deposited $BANANA and $BNB into a liquidity pool, you would receive BANANA-BNB APE-LP tokens.
The number of APE-LP tokens you receive represents your portion of the BANANA-BNB liquidity pool. You can also redeem your funds at any time by removing your liquidity.
The Benefits of Providing Liquidity
It’s not all bad for liquidity providers as you will also be given a reward in the form of trading fees. Whenever someone trades on ApeSwap, they pay a 0.3% fee, of which 0.25% is added back to the liquidity pool of the swap pair they traded on. Additionally, you can earn juicy APYs from taking your LP tokens and using them to earn BANANA in our farms.
YIELD FARMING
At ApeSwap, we use our farms to primarily incentivize users to provide liquidity for their favorite projects by rewarding them in BANANA. We are foremost a DEX, so the more liquidity we have the more users can trade. It’s in our best interest to encourage liquidity for popular trading pairs on ApeSwap! Using our farms, users can stake their APE-LP tokens after providing liquidity to earn high APYs through our platform.
STAKING POOLS
ApeSwap Pools allow Binance Smart Chain projects to bootstrap adoption by distributing a portion of their tokens to BANANA token holders. They also allow existing projects to start a relationship with our amazing community.
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HOW TO STAKE IN APESWAP POOL
- 1.Go to the pools page. Select the pool you’d like to use, we’ll use the BANANA staking for BANANA rewards as an example (note there are many options on what you can earn with your BANANA tokens!)
- Click on “Approve BANANA”, then confirm the transaction in your wallet.
- Click on the “+” button.
- Confirm how many tokens you would like to deposit, then confirm the transaction in your wallet.
- Done! You are now staking BANANA tokens and earning BANANA tokens :) You can "Wuzz Out" to harvest your tokens at any time.
ROADMAP
• March 2021 will be : Introduce Lottery System, Non Fungible Apes, and additional UI enhancements
• April 2021 will be : Advanced burning mechanics (More to come on this soon!) and UI revamp, NFA marketplace
• May 2021 will be : Additional utility and gamification for NFA holders, CEX Listing
• June 2021 will be : Add $BANANA Governance
• September 2021 will be: AutoFarm and Vaults
• November 2021 will be : Variable Yield Farms - gamified pools where the yields grow with liquidity and participants.
CONCLUSION
ApeSwap platform has come to revolutionalize the liquidity, mining and staking processes by making it stress-free and fully decentralized. ApeSwap platform makes blockchain cryptocurrency innovators, investors, liquidity miners, very happy by giving them a safe, trustless, and effective platform.
Useful Links
Website: https://apeswap.finance/
Twitter: https://twitter.com/ape_swap
Telegram group: https://t.me/ape_swap
Telegram Channel: https://t.me/ape_swap_news
Medium: https://ape-swap.medium.com/
AUTHOR
Bitcointalk Username: Lawancy
Bitcointalk profile Link:
https://bitcointalk.org/index.php?action=profile;u=2814528;sa=summary
BSC Wallet Address: 0x5359b9d21A793e5Cc1f5dE22daEb3D3d68C5847e