ApeSwap Finance is a new cryptocurrency trading platform that works on a decentralized architecture. The idea is to create a trading platform that will offer better features and reduce the hassles of trading on Centralized Exchanges, such as Binance.
The pecks of Decentralized Finance and using a Decentralized Exchange (DEX) are many. Those and many more are what you are offered as a user of the ApeSwap Decentralized Exchange.
What’s more? You can use the ApeSwap platform to get the most out of decentralized cryptocurrency trading. It will interest you to know that ApeSwap also doubles as an Automated Market Maker (AMM), which means that you can use the platform to interact with the Binance Smart Chain (BSC) – which is the blockchain network that powers the broader ApeSwap ecosystem.
This article is about Yield Farming, and how anyone, irrespective of your financial background or experience with Decentralized Finance (DeFi), can start interacting with and become a Yield Farmer via the ApeSwap AMM.
WHAT IS YIELD FARMING?
Yield Farming is the process of contributing liquidity to a liquidity pool created by a Decentralized Exchange (DEX) or an Automated Market Maker (AMM).
This is done with the idea of helping the liquidity pool of the AMM or DEX to process transactions faster.
In return, the Liquidity Providers (LPs) are rewarded with the native token of the AMM or any other incentive that the AMM deems fit.
ApeSwap Finance also supports the roles played by Liquidity Providers (LPs), and seeks to offer them better options than they would get on traditional AMMs.
If you are Liquidity Provider or you have some crypto assets that you can set aside for a while, here are some of the ways you can earn passive income providing liquidity on ApeSwap Finance liquidity pool:
EARN BANANA FOR FREE
BANANA is the native crypto token for the broader ApeSwap Finance ecosystem. It is so because Apes are known to eat more of bananas. So, it is only fair to use a similar name to create the native token for this project t.
As a Liquidity provider, you will be qualified to earn BANANA, the native token for ApeSwap Finance. All you have to do is to join other Liquidity Providers to stake your crypto assets or use your crypto funds to add to the liquidity pool so that transactions can be processed faster.
In return, you will be rewarded with the BANANA token that is equivalent to your inputs on the liquidity pool.
ACCUMULATED WEALTH CREATION
The perception to wealth creation varies by different people. While some cryptocurrency traders and investors believe in the use of hit-and-run mentality or scalping strategy to make some profits, others prefer to hold long-term.
As a Liquidity Provider, ApeSwap Finance offers you the opportunity to accumulate more wealth than you imagined by allowing you to stake the Liquidity Provider tokens (APE-LP) so you can earn high APYs.
That way, you rest assured that you will continue to make more money, even when you are not actively trading any cryptocurrency.
FINAL WORDS
Cryptocurrencies are innovative financial freedom assets. You will not only be playing an active and important role in helping process transactions orders placed by cryptocurrency traders. You will also be making money in the process.
If you wish to contribute liquidity and earn passive income, ApeSwap Finance is the Automated Market Maker (AMM) you should use.
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/
Github: https://github.com/ApeSwapFinance
AUTHOR’S DETAILS
Bitcointalk Username: Nancyo
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2759950;sa=summary
ETH Wallet Address: 0xeF728a6f7aB532bac5b2662B9eE6a0C097bc5243