ApeSwap has found another great way to bring rewards back to their users following months of beta testing a lending program.
ApeSwap Upgrades Lending Network
After months in beta testing, the ApeSwap team is prepared to take their beta Lending Network to a new level. On top of a new governance proposal from the ApeSwap DAO that will reallocate one BANANA per emission block back into its new Lending Network instead of the DEX, the ApeSwap team expects the new updates to boost the total volume locked in the ecosystem.
The new Lending Network with the emission incentives is set to launch on February 7, according to the ApeSwap Medium post from February 2. The team confirmed that users from over 151 countries participated in the beta testing for the Lending Network.
“Throughout the Beta, we built a relatively small but committed base of over 5,000 monthly users,” ApeSwap explained in their Medium.
The preliminary numbers from the beta show the potential for up to 10x rewards through the Lending Network. ApeSwap saw these numbers as having huge potential to benefit the whole community. Beginning February 7, the protocol explained it will allocate 1 BANANA per block based on the following metrics:
The new fees generated through the Lending Network will also bring extre reinvestments back into the ecosystem for burning, treasury, and paying its partner Ola. The latest development comes as ApeSwap expands and decentralizes its protocol even more. Things certainly keep getting more fun in the ApeSwap jungle!
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:
Source : bsc.news
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