DappRadar co-founder: “ApeSwap has some of the best business development on the market.”
2 Major DeFi Players Team Up
This is a positive development for ApeSwap in the current challenging market period, as ApeSwap is taking the first steps to generate sustainable liquidity. DappRadar’s confidence in ApeSwap is evidence that Sustainable Liquidity Mining (SLM) could be the next breakthrough to help open a new DeFi era for ApeSwap after an ambitious DEX upgrade and new plan to reduce inflation.
“ApeSwap has some of the best business development on the market,” Skirmantas, one of the co-founders of DappRadar, said after meeting with ApeSwap.
$RADAR is DappRadar’s native token. Users can buy or earn $RADAR, which enables them to shape DappRadar via managing listings, voting on initiatives, proposing recommendations or governing product decisions. The tokens also give users access to DappRadar PRO and allows them to earn $RADAR rewards via staking.
The breakthrough of SLM
SLM is an exclusive product built by ApeSwap for the DeFi 2.0 revolution. To accomplish its goal, ApeSwap has constructed sustainable liquidity using the platform’s Treasury Bill products, allowing users to sell their liquidity provider tokens ($APE-LP) in exchange for discount tokens.
To ensure a smooth process, ApeSwap tested this product with its own token through $BANANA Bills and achieved some success. Then, ApeSwap encouraged all close partners to join the project to create their own Jungle Bills.
“Not long ago, our industry generated massive hype around DeFi 2.0 / POL, convinced that liquidity mining was going completely obsolete. While there were certainly elements of truth to the buzz, it’s not so black and white.” Product Lead Obie Dobo told BSC News.
ApeSwap provides a “one-stop” solution to the market by featuring liquidity mining, Treasury Bills and DEX under one management model. Projects can easily access and enjoy all benefits of the SLM program, with the support of ApeSwap’s proprietary methodology called “dexenomics,” which helps to define a custom plan for every project by assessing their tokenomics, market capitalization and volume.
SLM will be divided into two phases, the renting phase and the ownership phase, built upon the ApeSwap legacy and development after observing some of the challenging factors facing DeFi. To learn more about how SLM works and examples, visit here.
SLM will start with renting to kickstart the initial liquidity needed, then ApeSwap will work with projects to phase out farming while launching Jungle Bills. Over time, ApeSwap will cease to lease, and the project will be fully supported through POL (“Partner Owned Liquidity”).
“As a result, ApeSwap’s biz dev team has devised an ingenious strategy to help partners get the best of both worlds – Sustainable Liquidity Mining. The hybrid concept allows projects to quickly bootstrap liquidity & then maintain it long-term as POL (“Partner Owned Liquidity”), Dobo said.
Any project that wants to partner with ApeSwap can apply here.
The Leap of ApeSwap and BNB Chain
Following the introduction of Cross-Chain Staking that allows users to stake the platform’s RADAR tokens on different blockchains for rewards and supports the LayerZero blockchain protocol interoperability platform, DappRadar launched on BNB Chain due to fees and scalability.
Since then, DappRadar has become a fully committed project on BNB Chain, and the first project they chose to work with was ApeSwap.
“This innovative technique has piqued interest in several of our largest relationships & we’re beyond thrilled to get this off the ground with DappRadar on BNB Chain!” Dobo told BSC News.
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. 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:
What is BNB Chain:
Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain-powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Furthermore, through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
Find more about BNB Chain here:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.