ApeSwap Launches Banana Maximizer Vaults

The move looks to refine the ease of access to daily rewards and offer additional incentives for those interested in the Liquidity Pool offerings on ApeSwap. 

Maximize Token Rewards

ApeSwap readies BANANA Maximizer Vaults in a bid to make earning easier for its ardent users. 

The team announced the move via Medium on May 20 and is looking to offer requested utilities for the BANANA token, which includes gaining interest without continually re-staking the relevant tokens. The aim will also be to protect their users by offering longer-term stability that isn’t immediately impacted by the kind of market swings we’ve seen in recent weeks. BSC News spoke to ApeSwap CoFounder Obie Dobo to learn more about the innovation.

“BANANA Maximizers are designed to protect our user’s holdings from the predatory practices of third-party vaults and mercenary farmers. As recent events have shown, sell pressure on a token combined with broader economic factors can create undue stress for holders and partners. By creating an auto-compounding vault that rewards holders with our utility token, we can create long-term positive growth that not only adds value to BANANA but also drives positive returns for our partners — helping the entire BNB Chain thrive despite market volatility.”

Several leading protocols on BNB Chain have been working hard to put in place long-term mechanisms to help ensure stability in the face of general market swings. ApeSwap continues to outpace other protocols on BNB Chain by providing fun, innovative, and attractive Decentralized Finance (DeFi) products.

How do the Maximizer Vaults Work?

They initially begin by creating a Liquidity Pool, five of which are currently available, including BANANA-BNB, BANANA-BUSD, MATIC-BNB, FTM-BNB, and BNB-BUSD. Upon the LP tokens being created, users will be able to stake them in their vault of choice. These will function similarly to farms, whereby holders who stake will earn rewards in BANANA, alongside passive rewards from swap fees that are gradually added to users’ underlying Liquidity Pool.

One of the ways they differ from farming is that rewards will be automatically compounded into a single-asset BANANA vault. This will see both rewards for LP tokens and a gradual build-up of BANANA rewards on a daily basis, the team explained. 

For those wondering about the inherent risks, the traditional risk of impermanent loss and, indeed, token volatility is something that remains present, and users will need to be vigilant in this regard. 

ApeSwap has underlined that it will be monitoring the progress of this latest product with respect to the five aforementioned pools and, based on its success and community feedback, will look to implement more combinations in the near future. 

The project has been busy innovating of late with the integration of Torus Wallet coming in recent weeks, alongside announcing that their Non Fungible Apes were heading to Binance NFT. The latest move is another in a long line of innovations from ApeSwap that BSC News has been paying close attention to.

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What is ApeSwap: 

ApeSwap is a leading DEX on 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. 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