The new product adds to the previous BANANA Bills introduced by the platform. However, all three are disabled due to significant interest in the DeFi space.
New BANANA Treasury Bill
ApeSwap launched its second BANANA Bill on April 18. The protocol unveiled the product in preparation for the main launch on April 22.
The BANANA Bill is one of the two formats in the protocol’s yield generating Non-fungible Token (NFT) Treasury Bills product that went live on April 12. The unique product allows users to buy $BANANA at discount rates when providing Liquidity Provider (LP) tokens.
ApeSwap first launched the BANANA-BNB and BUSD-BNB LP tokens before adding the latest one—BUSD-USDC. The multi-chain Decentralized Exchange (DEX) platform on BNB Chain updated users about the new BANANA Bill product on April 18 through Twitter. https://cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/ape_swap/status/1516116239688646662&image=https%3A//abs.twimg.com/errors/logo46x38.png
When ApeSwap launched its first BANANA Bill product, many users provided LPs and obtained $BANANA tokens at discount rates. However, the discount rate dropped below 0% after the massive adoption, and both bills were unavailable. Currently, the Treasury Bills page discloses that users can only provide liquidity when the discount is above 0% because many users have added liquidity.
“Buying this bill is disabled at the moment as the discount is 0% or less. Buying will be available once the discount surpasses 0%. This will happen automatically over time,” the page reads.
Users are required to check the Treasury Bills page for more buying opportunities. For now, all three BANANA Bills are unavailable due to massive adoption. However, ApeSwap will roll out the one more BANANA Bill on April 20 (ETH-BNB LP) before the main launch.
BSCNews recommends you read our article HERE to understand ApeSwap’s, Treasury Bill.
What is ApeSwap:
ApeSwap is a leading DEX on the BNB Chain, 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:
Source : bsc.news
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