The Vikings Are Guarding the BANANAS: ApeSwap Becomes First DEX on BNB Chain to Secure Liquidity Pools With FlokiFi Locker

ApeSwap and Floki team members give BSC News the details on the landmark partnership.

New Security Solution

Prominent BNB Chain Decentralized Exchange (DEX) ApeSwap has announced a partnership with Floki to utilize the project’s newly launched FlokiFi Locker to provide security for the Liquidity Pool (LP) of projects listed on ApeSwap.

ApeSwap will introduce FlokiFi Locker as the preferred LP locking solution for projects with listings on its platform. As announced by the development team, ApeSwap receives 10–15 listing requests from projects daily.

“ApeSwap has always placed a heavy emphasis on security. One of the ways they look out for the safety of their users is by having projects that they partner with commit to locking up their LP tokens before they will promote them in any way. This core tenant of the protocol synergizes perfectly with the Floki team and their new premier lock-up service,” Tarzan, Biz Dev Manager of ApeSwap, told BSC News.

Under the terms of the partnership, ApeSwap will adopt FlokiFi Locker as its main protocol for locking LP tokens for new projects starting on its launchpad platform, and ApeSwap will recommend FlokiFi Locker for LP locking for more mature projects that want to list on the DEX.

“Floki’s partnership with ApeSwap is a strategic move we made to position our new, innovative digital asset locker protocol, FlokiFi Locker, as a leader in the industry,” Floki Core Team Member B said. 

ApeSwap is the first DEX on BNB Chain to sign up for the newly launched FlokiFi Locker and provides a solid base for the security solution to branch out into many different ecosystems.

“FlokiFi Locker aims to be available on every major blockchain, and we will have our initial mainnet launch on 12 blockchains, which is more than what is offered by any other digital asset locker in the market today. We recently announced a partnership with CherrySwap, the leading DEX on the OKXChain, which makes it very clear that we mean business and are ready to expand to other ecosystems and dominate in the industry,” B told BSC News. 

“ApeSwap is one of the biggest DEXs on the BNB chain. They share Floki’s ideals regarding innovation and development and are also ambitious about growth, so we are confident about their future and happy to be working with them,” B said.

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More Liquidity Support

Further, Floki will coordinate the sale of “Treasury Bills” with ApeSwap to increase the initial liquidity offered to the ApeSwap platform. The Treasury Bills program is a liquidity mining product by ApeSwap. 

“ApeSwap is incredibly proud to welcome Floki Inu to the Jungle as one of our premier partners building sustainable, protocol-owned liquidity through our innovative Treasury Bills product. We can’t wait to watch Floki’s [proof of liquidity] grow and look forward to their long-term success,”  Julian, ApeSwap Biz Dev Lead, said.

Treasury Bills are Non-Fungible Token (NFTs) that allow holders to purchase tokens at a discount in exchange for their LP tokens. The Treasury Bills’ reward tokens vest over a certain period of time. Learn more here.

Currently the FLOKI-BNB Jungle Bill is being offered at a 17.58% discount with a vesting term of 30 days.

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What Is ApeSwap:

ApeSwap is a leading DEX on BNB Chain, which offers users high-quality trading experiences. ApeSwap is a blend of a decentralized exchange, yield farming, staking, and an automated market maker (AMM). ApeSwap users can partake in its liquidity pool offerings via yield farming to earn its native BANANA token. These earned tokens can be used to stake and earn other tokens and unlock deluxe features. 

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For more information about ApeSwap, visit the platform’s media links: 

Website | Twitter | Medium | Telegram

Source : bsc.news