With tons of new features announced plus a governance vote round, the ApeSwap community had a lot to explore during the week.
The Week of WenNewsSer
Over the last week, Binance Smart Chain (BSC) platform ApeSwap held a campaign of events titled “WenNewsSer”. The campaign consisted of 5 individual announcements of exciting new features for the ApeSwap community.
The campaign strongly encouraged the ApeSwap community to get involved and included Decentralized Autonomous Organization (DAO) governance votes, updates from the team, and other important announcements. Let’s dive into each of the 5 separate announcements and what they entail for the community.
Day 1: Self-Serve IAOs
On November 7th, ApeSwap announced that self-serve Initial Ape Offerings (IAOs) would be starting on November 29th. Decentralized Finance (DeFi) projects will be able to raise and lock in funds for initial liquidity, launch their token, and get listed all on the same platform – a first for BSC!
Literally anyone will be able to hold an IAO using the self-serve feature – no requirements will be in place. This is huge news for smaller developers who need a place to launch without stringent prerequisites.
An important note about self-serve IAOs is that due to the lack of KYC or restrictions, ApeSwap will not be reviewing or approving the projects listed. As such the team strongly advises their users to Do Your Own Research (DYOR) before investing in any IAOs.
Day 2: ApeSwap Governance Vote Round 3
On November 8th, ApeSwap presented a new governance voting round to their community. The round consisted of 5 proposals for $GNANA (ApeSwap’s governance token holders to vote on, bringing the total to 14 ApeSwap proposal votes.
Proposal 10: Governance Quorum Restructuring – This vote is to determine whether the governance quorum threshold should be lowered or restructured.
Option 1: Lower Quorum to 2.5%
Option 2: Redefine GNANA “In Circulation,” Increase Quorum to 7.5%
Proposal 11: Farm Multipliers Optimization Cadence – This vote is to determine when farming multiplier optimization should take place.
Option 1: Optimize Farm Multipliers Every 2 Weeks
Option 2: Optimize Farm Multipliers Monthly
Proposal 12: Temporary Staking Pool Cap – This vote is to determine whether there should be a temporary cap for 48 hours for staking amounts in new BANANA/GNANA pools.
Option 1: Introduce Temporary Staking Pool Cap (48 hours)
Option 2: No Change
Proposal 12: Final BUIDL Graduation – This vote is on whether the first 6 members of the BUIDL program (YSL.IO, SeaChain, Bingus, Barbershop, Rug Zombie, MainStreet) should all be graduated in the same class.
Option 1: Graduate All Six Members
Option 2: Do Not Graduate All Six Members
Proposal 14: Linear IAO Vesting – The final proposal is whether changes should be made to the IAO vesting schedule. The new model would seek to provide more long-term benefits to participants.
Option 1: Vest IAOs Continually (25% of allocation at end of sale, then linear vesting from then until the end of the 3–12 month vesting timeframe)
Option 2: No Change to IAO Vesting Procedures
These votes are geared towards granting agency to the ApeSwap community in regards to important platform decisions. Allowing the community to participate in such decisions is a key element to maintaining the decentralization that ApeSwap desires.
Day 3: ApeSwap Integrations and Team Updates
On November 9th, ApeSwap gave some insight into new integrations and the growth of their team. The platform revealed that their team has grown to 30 apes (core team) and over 60 community managers. The post detailed just how much growth the platform has undergone, including marketing, team building, platform upgrades, and more.
The team also revealed a series of new integrations. These include Rug Doc (new badges for projects that use ApeSwap LPs), Moonlight (a highly-safe bubble map), and Crypto.com (ApeSwap Medium announcements will now appear in the ApeSwap section on the website). The platform will also have their Decentralized Exchange (DEX) data tracked on CoinMarketCap and CoinGecko for both BSC and Polygon.
ApeSwap also discussed new charts, DEX aggregators, and DeFi dashboard integrations to enhance their platform experience. These include a series of highly respected tools including YieldWatch, 1inch, Open Ocean, PooCoin, and DexTools. Full lists of all new partners and integrations can be found in their Medium post.
Day 4: Powered by ApeSwap
On November 10th, ApeSwap announced an upcoming ecosystem upgrade – Powered by ApeSwap. Powered by ApeSwap is an initiative that will “power up” a curated group of partner projects. These projects will receive an exclusive ApeSwap badge and will be privy to a variety of outstanding new benefits. Any project that receives this badge will be considered among the inner circle of the ApeSwap ecosystem – quite the lofty privilege.
The ApeSwap team will release more details (including the names of some of the projects) in the near future, so stay tuned to their socials for more information.
Day 5: Non-Fungible Banana (NFB) Progress Update
On the final day of the campaign, ApeSwap gave an update regarding its highly-anticipated NFB sale through Liquid Collectibles. The team revealed Non-Fungible Ape (NFA) holders would receive 1 free NFB for every NFA they hold, incentivizing users to obtain NFAs before the sale begins.
NFBs will be collectibles with a variety of traits that will be graded on a scale of 1-10,000 depending on the rarity of traits. There are only 10,000 NFBs ever being minted, keeping the supply limited to increase value.
The team announced in their Medium post a sale date of November 26th for the NFBs. While few other details were provided, the post stated the team would make an official announcement of launch details on November 22nd.
Wrapping it Up
The WenNewsSer campaign brought a lot of exciting news for the ApeSwap community. For fans of NFAs, the upcoming NFB sale is sure to be exciting news. Their self-serve IAOs will bring new life into BSC, helping developers to get their projects off the ground.
With a host of new features and integrations revealed as well as new ecosystem-growing initiatives, ApeSwap gave their user base an exciting glimpse into the future of DeFi on the platform. If these integrations and programs work as intended, ApeSwap could grow to even further heights.
For more information about ApeSwap, visit the following links:
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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