ApeSwap and Mogul have agreed to an extensive partnership which will see the two firms cooperate on several fronts.
Going for the Spotlight
The ApeSwap exchange has partnered with Mogul productions, a decentralized film financing company. This move takes them from the script writer’s page and launches them into production. In the announcement from July 14, ApeSwap and Mogul have already identified various key areas in which the two will work together in the future.
They have already combined to airdrop $10,000 of Mogul’s STARS token to the ApeSwap community. $10,000 of ApeSwap’s BANANA token also airdropped to the Mogul community. The exact details of the airdrop have yet to be released.
Mogul is famous for connecting filmmakers, film financiers, and movie fans on a single platform similar to crowdfunding. It gives everyone an equal opportunity to participate in movie production and distribution.
Farming and Staking
ApeSwap users can now participate in staking pools and yield farming opportunities. Mogul’s native token STARS is now listed on the platform. ApeSwap users are welcome to begin staking their $GNANA to earn $STARS tokens. At the time of press, the APY on this staking pool was 353.84%.
A yield farming option allows users to use a STARS-BNB LP token to farm $BANANA at a current APY of 286.06%.
More on Mogul
The Mogul concept has a strong foundation in blockchain, NFTs, and crowdfunding, leveraging these to incentivize participation on the platform. The STARS app is the native token of the ecosystem, used as a payment and governance token and conferring a share of the movie profits. According to Mogul this, “puts you, the fan, in the director’s seat like never before.”
The platform has already onboarded a 50,000 strong community in its first three months of operation and is now looking forward to funding its first movie in the next few weeks. The company has sold $10 million in Non-Fungible Tokens (NFTs), proving that the foundations have been laid for successful crowdfunding on the platform.
When STARS tokens are used to purchase NFTs the tokens are burned, creating a deflationary token mechanism. Now that the tokens are freely available on ApeSwap, a larger audience will gain exposure to the company and its ambitions.
Whether Mogul’s first movie production is a smash or not, it looks like their partnership with ApeSwap is set to be a surefire hit.
Source : bsc.news
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