PREAMBLE
It's not a secret that for a DEX or a DeFi project to be successful, it has to have a sustainable liquidity. This liquidity is a very important part of the system as its one that determines its market price. This is one of the reasons why most startup DeFi platforms can't survive in the current market and they have to find various means of sourcing their liquidity. This is one of the areas where ApeSwap steps in and brings about a solution to their problems.
APESWAP LIQUIDITY 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.
APESWAP PARTNERS KeyFi
ApeSwap has announced several partnerships from Squirrel.finance to Ontology and now KeyFi
Apes, we are happy to announce our newest partnership is with KeyFi! They’ve just recently launched on Binance Smart Chain, and we couldn’t be more excited to officially welcome them to the Jungle.
KeyFi is an all-in-one platform, allowing you to track, swap, and stake all of your DeFi assets across Binance Smart Chain and Ethereum. Expect all of your favorite platforms to be integrated soon.
ApeSwap listed KEYFI as well as offering a new KEYFI-BNB farm + Pool on April 19 2020.
To celebrate this news, KeyFi will be giving away 300 KEYFI to our community here. The token giveaway ends on April 25, 2021.
-Official Listing
KEYFI token will be listed on ApeSwap’s decentralized exchange (DEX), one of the few tokens that have gained an official listing.
KEYFI-BNB Farm
ApeSwap will set up a farm where users stake KEYFI-BNB LP tokens and receive BANANA rewards. The farm will start with a multiplier of 1x
You can see all of ApeSwap’s farms here.
-KeyFi Banana Staking Pool
ApeSwap will create a BANANA staking pool rewarding in KEYFI over three months. The goal here is to grow our holder base of KEYFI on Binance Smart Chain.
You can see all of ApeSwap’s staking pools here.
CONCLUSION
With the current state of the DeFi Market, I feel that Apeswap will bring about a change that will expand and enhance the adoption of DeFi. This will be made possible with its numerous unique features such as mining, staking, lottery etc.
Please visit
Website: https://apeswap.finance/
Twitter: https://twitter.com/ape_swap
Telegram: https://t.me/ape_swap
Medium: https://ape-swap.medium.com/
AUTHOR:
Bitcointalk username: Ojonugwa
Bitcointalk profile Link: https://bitcointalk.org/index.php?action=profile;u=2806076;sa=summary
My BSC Wallet Address: 0x989eef053f84cD5da8185a4f812506359F94fcAA