ApeSwap overview

ApeSwap.Finance is an automated market maker and yield farming protocol, which offers its users a wide range of extra services including staking, farming, initial token offerings, and much more. ApeSwap is natively built on and powered by the Binance Smart Chain, and it also supports Polygon network.

2. ApeSwap stats

ApeSwap rapidly became one of the top dApps available on the Binance Smart Chain. According to its DappRadar data, ApeSwap currently ranks as #4 on BSC, #3 on Polygon, and DeFi and #6 overall. If we consider CoinMarketCap stats, ApeSwap.Finance has a market cap of $129M+ with over $4M+ in daily volume.

3. ApeSwap.Finance services

Token swaps and yield farming

ApeSwap.Finance offers a number of different services. Being a decentralized exchanges at its core, ApeSwap has a wide variety of pairs for token swaps. There are many different yield farming opportunities, where users are incentivized to provide liquidity by the means of BANANA rewards.

Staking

ApeSwap works with many projects to bring their newly minted tokens to platform users. BANANA and GNANA token holders may benefit from staking pools offering some attractive APY’s. Staking pool rewards are calculated per block, so users can unstake at any time.

Initial Ape Offering

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

Non-Fungible Apes

Non-Fungible Apes (or NFAs) is another feature of the ApeSwap’s platform. NFAs are cryptographically generated avatars of digital apes, each having a set of different characteristics. They are categorized in different tiers and can be collected by the platform’s users.

ApeSwap vaults

Lastly, there ApeSwap.Finance offers smart contracts that help automate the process of yield farming and help users maximize and optimize their strategies via vaults. With ApeSwap’s auto compounding vaults, staked tokens will be used to generate farm profits, which will then be used to buy more staked tokens and grow the staked balance.

Their system of burning vaults has an additional auto compounding options. Burning Vaults use a percentage of farming profits to buy and burn $BANANA tokens. While they are open to all community members, they are partially funded with ApeSwap DEX fees. By using our DEX fees in these vaults, ApeSwap.Finance create an everlasting burn mechanism.

4. What are BANANA and GNANA?

BANANA

BANANA is the native currency of the ApeSwap platform. BANANA’s main function is to incentivize the liquidity provision, token swaps and yield farming. At the time of this overview there are 129M+ BANANA in circulation.

By design, BANANA is an inflationary token, as there is no hard cap for it. However, there are certain deflationary mechanisms in place to reduce the inflation, such as changes to block emission and regular token burns. So far over 13.8M were burned.

GNANA

The second token of the ApeSwap ecosystem is The Golden Banana, also known as GNANA. It is designed to reward ApeSwap’s community members. GNANA holders benefit from transaction fees and voting rights on the platform. They also receive exclusive access to IAO (Initial Ape Offerings) and staking pools. There are nearly 11M GNANA in circulation at the moment.

5. How to Farm on ApeSwap?

You can watch our video guide or use our step-by-step guide to provide liquidity to the ABR/USDC ApeSwap pool.

6. Roadmap

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