ApeSwap offers $5,000’s worth in giveaways as the IAO launch date for the innovative index fund, BSC BiShares Finance, inches closer.
Initial Ape Offering
ApeSwap will be carrying out an Initial Ape Offering (IAO) for BiShares Finance, a decentralized platform for index funds on the Binance Smart Chain (BSC) for index funds. An IAO is a term coined in the ApeSwap ecosystem for projects seeking fundraising by listing their own tokens. BiShare Finance is an index fund that consists of 5 initial funds that give new investors broad exposure to the decentralized finance (DeFi) market without the hassle of understanding the technicalities behind every DeFi project. The IAO will begin next week on July 9 at 03:00 UTC.
This project is a bridge that brings the best in traditional finance to the DeFi jungle with a portfolio to match or track the components of the financial market index. The IAO will take place in two stages: first through a primary offering and subsequently through a secondary offering. To be entitled to win the $5,000 giveaway, the participant can access the campaign page here and follow the steps laid out.
The IAO Process
There are two stages in the IAO offering. The IAO tokens from the first offering can only be purchased using $BNB. The second offering can be purchased using $GNANA, a custom token meant for the initial offering to prevent massive dumps and pumps. $GNANA stands for golden banana, which is a model that helps mitigate ‘whale action’ and is often the case with new token listings. There is a higher purchasing power with $GNANA which will incentivize and reward its holders.
Both offerings will coincide at the same price but with different landing pages, different hard caps, and different tokens to purchase $BISON.
IAO for Primary Offering using $BNB is at ApeSwap IAO’s
IAO for Secondary Offering using $GNANA is at ApeZone
Both offerings will be open for a period of about 1 hour on July 9th, 2021, at 03.00 UTC. The primary offering has a hardcap of $450,000, while the second offering has a hardcap of $250,000.
Understanding BiShares Finance
In a nutshell, the crypto boom has caught the attention of major institutions. Within the crypto market, a niche industry in the form of DeFi is emerging. The developing industry is complicated and littered with technicalities. To ensure that resources are not spent on exorbitant fees and transaction costs, BiShares operates on Binance Smart Chain (BSC).
As the first index fund to hit BSC, its central goal is to have equal buying rights for investors and a transparent approach to their DeFi ecosystem. The BiShares team brings a simple broad-based solution by allowing crypto diversification through token purchases. Users will be able to buy Bison tokens that will be indexed into funds for things like Top 10 BSC projects or a BSC Non-Fungible Token fund.
BiShares is building community curated projects that allow for participation in the most promising, exciting, and rewarding project on BSC. The platform will be audited, transparent, and governed by its community. Their exciting approach allows for diversification without compromising on safety and security.
A more detailed explanation of how the fund will work is available here.
Projects such as BiShares offer a fascinating product in DeFi that fits the puzzles together to form a platform that balances and spreads the risk for the best exposure to exciting projects. Although it borrows a traditional financial solution into the crypto space, the dynamics in the DeFi industry vastly differ. BiShares is an innovation that pushes the industry to acknowledge diversification.
ApeSwap is a multi-purpose decentralized protocol that investors and users can use for yield farming and staking. The platform is built on the Binance Smart Chain and has been forked from PancakeSwap.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.