ApeSwap Announces BUIDL Program Graduates and Freshman Protocols

ApeSwap continuous its BUIDL program as part of its efforts to help fast track the growth of other platforms on Binance Smart Chain.

Introduction

ApeSwap, a BSC integrated automated market maker and yield farming platform, has released new information on its BUIDL Program. ApeSwap announced five protocols that make up the latest entrants into the BUIDL Program, as well as two protocols that successfully graduated.

What Is The BUIDL Program?

The BUIDL Program is a partnership between ApeSwap and other projects on the Binance Smart Chain. It is open to new as well as already existing projects. As announced by ApeSwap, the main idea behind BUIDL is to have a mutual relationship where ApeSwap supports the growth of BSC projects while those projects, in turn, help to improve ApeSwap’s liquidity profile. Participating projects will also receive other financial incentives. 

Criteria For Qualification

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For projects to successfully participate in BUIDL, they will need to go through a three-stage process: Application Stage, Build Stage, and Rewards Stage. A detailed description of each of the stages is given in this official release.

Premier Graduates

Not everyone that goes to college graduates, you would say! It’s no different here with the BUIDL Program. Out of the four protocols that formed the first set of entrants into the BUIDL Program, only two protocols completed the program and qualified for the rewards. The two protocols are, 

1. MEMEX Exchange

MEMEX is an automated market maker (AMM) mainly designed to be a marketplace for memecoins. MEMEX has plans to be a launchpad for memecoins.

2. Defy.Farm

Defy.farm entered the DeFi-space with an aim to disrupt traditional yield-farming with a unique alternative approach. Defy redistributes platform fees to holders of its tokens using a reflect-mechanism. The platform also has a farm that helps cushion the effect of impermanent loss experienced by liquidity providers. This farm rewards users based on the degree of impermanent loss they incur.

Congratulations to the graduates!

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New Additions To The BUIDL Program

Five projects passed the application stage and have been admitted into the BUIDL Program. The projects are, 

1. Crow Finance

Crow Finance is a yield-optimisation platform. It aggregates earning opportunities in DeFi and provides optimal returns to its users.

2. Purple Monster

These are non-fungible tokens (NFTs) that can be staked with high APY rewards. AtmosSoft develops the NFTs, and the platform has been successfully audited by a reputable security firm, TechRate. 

3. Twinci

Twinci is an NFT marketplace that connects content creators with artwork collectors. The platform aims to be an ecosystem where anyone can create and sell their digital artworks. It also has features that enable users to interact with each other. 

4. TapSwap Finance

TapSwap is a platform that aggregates decentralised exchanges (DEXes). It aims to simplify trading for users by enabling them to access different liquidity pools, all from the TapSwap website. 

5. Phyto Finance

Phyto is a gamified DeFi ecosystem. The platform aspires to make the process of earning from DeFi an easy and enjoyable one for everyone.

Welcome, new class. Hope to see you successfully graduate!

About ApeSwap

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ApeSwap is a decentralised finance platform deployed on the Binance Smart Chain. ApeSwap offers automated market making, yield-farming, and staking services. The ApeSwap team is made up of members with vast experience in crypto and designed the platform to benefit the community the most. 

For more information about ApeSwap, here are the platform’s media links 

Website | Twitter | GitHub | Telegram 

Source : bsc.news

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