The exchange introduced a new vesting process for its 7th Initial Ape Offering featuring play-to-earn protocol DragonaryGame.
ApeSwap Introduces new IAO Partner With New Process
ApeSwap will host its seventh Initial Ape Offering (IAO) with play-to-earn protocol, DragonaryGame as its official partner. The Decentralized Exchange (DEX) protocol will host an Ask Me Anything (AMA) session on Reddit where participating users stand to gain $500 worth of tokens.
ApeSwap announced the latest partnership on July 28th via Twitter. The IAO will begin on August 2nd at 16:00 UTC and will run for 12 hours. In addition, the seventh IAO (IAO 007) will be run differently from previous IAOs, according to an ApeSwap Medium post on July 29th.
“As governance ‘Prop 2’ passed, the structure of IAO 007 will be different from previous IAOs in two ways,” the blog post explained, “First, the length of the IAO will be 12 hours instead of 1. Second, the IAO tokens to be claimed will vest over at least 3 months.”
ApeSwap created the IAO to support projects seeking fundraising by listing their own tokens. The Binance Smart Chain-based DEX created a voting system — governance ‘prop 2’ for users to decide on the best token claim structure. The voting started on July 17th and ended on 21st July, with many users opting for an increased IAO duration and a new vesting process.
ApeSwap AMA Session And Reddit Giveaway
ApeSwap will host an AMA session for users with questions about IAO 007 and its official partner, DragonaryGame. The AMA will take place via Reddit on July 29th at 19:00, according to the protocol’s Tweet on 28th July.
To show support for DragonaryGame, $500 in $CYT will be given to participants when ApeSwap’s Reddit page hits 5000 followers. In addition, five lucky winners stand a chance to win $100 each from the Reddit AMA giveaway.
How to Participate in the Giveaway
ApeSwap’s Reddit moderator, Rafiki laid out the details for the giveaway.
“Invite your fellow Apes to Reddit, once we hit 5K Apes in the Reddit Jungle we are going to randomly give $100 each in $CYT to 5 Apes who comment what they are most excited about Dragonary IAO in this chat,” Rafiki encouraged.
‘Apes’ refer to the users of the simian-themed exchange, and has become a popular phrase amongst the growing crypto community.
ApeSwap 7th Initial Ape Offering: Details and New Vesting Process Explained
As stated earlier, the IAO will have a new token claim structure provoked by users’ votes. Like previous IAOs, the 7th IAO will have two offerings: primary and secondary offerings.
In the primary offering, IAO tokens will be purchased with $BNB, while IAO will be purchased with $GHANA in the secondary offering.
$GHANA is a custom token created for initial offerings on ApeSwap to prevent price exploitation. Both offerings will happen at the same time but will occur on different user interfaces (UI).
The new vesting process will be undertaken in the following ways, as seen in the blog post:
ApeSwap will issue 25% of tokens to IAO participants immediately.
25% of tokens will be released each month, subsequently after that for three months. Precisely 25% one month after, 25% after two months, and 25% after three months.
GHANA or BNB would be claimed immediately by users.
DragonaryGame: Powered by CoinaryTV’s CYT Token
The term “Dragonary” refers to a game created and developed by CoinaryTV. It is available on Desktop, IOS, and Android for users to play and earn rewards in cryptocurrency.
The developer – CoinaryTV – is the largest Spanish-language Youtube channel dedicated to cryptocurrencies. Coinary developed the game with the sole aim of creating a blockchain-based play-to-earn game for crypto lovers and gamers worldwide.
The Coinary protocol is built on the Callisto network, leveraged for creating a unique sign-in method that allows users to experience in their ecosystem with no charges.
CYT is the native token of the Coinary and DragonaryGame ecosystem. It allows users to purchase in-game dragons, powerups, and many other bonuses from its Non-Fungible Token (NFT) marketplace. For more details about DragonaryGame, check out their official whitepaper.
Source : bsc.news
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