ApeSwap Debuts Treasury Bills for Long Term Growth

The first Treasury Bill went live on April 12, attracting numerous users. The protocol also plans to launch the main version later this month.

Treasury Bills Finally Arrive

Early this month, precisely on April 2, BSC News reported ApeSwap’s plans to launch the unique Treasury Bills product. The unique product has finally hit the blockchain space, as promised by the Decentralized Exchange (DEX) platform. 

From the protocol’s Medium post on March 30, the Treasury Bill product was scheduled to go live on April 12. As expected, the protocol launched the unique product, a yield generating Non-fungible Token (NFT) product on BNB Chain. Treasury Bills offer users a way to become part of ApeSwap’s long-term growth, including a means for crypto projects to raise funds for their treasuries. 

“ApeSwap has created a new way for users to be a part of the long-term growth of the platform and for crypto projects to raise funds for their treasuries. These innovative yield-generating NFT products are called Treasury Bills, and they are designed to align the incentives of our organization, our community of users, and our network of partners with a focus on sustainable growth,” ApeSwap wrote on Medium. 

The product combines TradFi, Decentralized Finance (DeFi), and NFT products, allowing users to purchase tokens at discount rates while providing their Liquidity Provider (LP) tokens. Each Treasury Bill acts as an NFT, representing the purchased tokens, which vest over a given period. 

ApeSwap announced that the Treasury Bills would be released in two formats: BANANA Bills and Jungle Bills, and that the product would go live with the BANANA Bills. BANANA Bills allows users to purchase the protocol’s $BANANA token at discount rates. 

On the other hand, Jungle Bills works like BANANA Bills. The only difference is that users will not purchase $BANANA but ApeSwap’s partner project tokens using their LP tokens. This format presents a great opportunity for projects to raise funds in their treasuries.

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Large Interest from the DeFi Space 

The BANANA Bills went live on April 12, with the BANANA-BNB and BUSD-BNB LP available on Pre-launch, allowing users to purchase $BANANA at discount rates. Following the launch, the new product recorded a large number of users, causing the discount rate to decrease. Generally, ApeSwap’s BANANA Bills discount rates decrease as the number of Liquidity Providers increase. 

As of writing, the product is unavailable as there is no longer a BANANA discount. However, ApeSwap has urged users to re-visit the Treasury Bills page to take advantage of the unique product. https://cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/ape_swap/status/1513950332887384065&image=https%3A//abs.twimg.com/errors/logo46x38.png

ApeSwap will launch more BANANA Bills before the official version is launched on April 22. For more information about ApeSwap’s Treasury Bills, read our article. 

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What is ApeSwap? 

ApeSwap is a leading DEX on the BSC, which offers users the best trading experience. ApeSwap is a blend of a decentralized exchange, yield farming, staking, and an automated market maker (AMM). ApeSwap users are urged to partake in its liquidity pool offerings via yield farming to earn its native BANANA token. What’s more, these earned tokens can be used to stake and earn other tokens and unlock deluxe features. 

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

Website | Twitter | Medium | Telegram

Source : bsc.news