PancakeSwap introduced one-click Zap farming on BNB Chain. ApeSwap broadened the functionality, and BabyDogeSwap recently joined the trend.
The Battle of the Zaps
You get a Zap! … You get a Zap! … You get a Zap! In their quest to topple PancakeSwap as the dominant Decentralized Exchange (DEX) on BNB Chain, rivals ApeSwap and BabyDogeSwap have followed the leader and introduced one-click functionality to create liquidity pool (LP) tokens.
Anybody who has explored farming on Decentralized Finance (DeFi) platforms knows that LP tokens are often in pairs. So any user that wants to add liquidity to a pool must first acquire (or hold) the two tokens (i.e. CAKE and BNB), then use an exchange to create the a single token representing the LP pair in a 50:50 split of assets (BNB-CAKE).
That’s a lot of steps, especially for a crypto n00b. And that’s why DEXes have implemented Zap.
Let’s take a look to see how the feature differs on PancakeSwap, ApeSwap and BabyDoge Swap.
The Chefs Did It First
Recognizing that manual LP token creation “proved to be challenging for DeFi beginners,” PancakeSwap pioneered the Zap feature on BNB Chain, launching it on July 4.
With Zap on PancakeSwap, users don’t have to undertake the multistep process to create an LP token. Instead, they only have to hold one of the tokens in the LP pair, and Zap automatically performs the swaps and balances the trading pair 50/50.
The Apes Did It Better
ApeSwap launched its Zap feature on Sept. 13, taking it a step further by adding new functionalities.
Like PancakeSwap, ApeSwap’s Zap feature allows users to create LP pairs from a single token in the pair. Additionally, ApeSwap’s Zap users can select any asset from the exchange’s Treasury Bill page without acquiring the LP tokens needed to purchase the particular Bill.
Also, ApeSwap users can employ Zap to move LP tokens directly from sources outside ApeSwap into the ApeSwap ecosystem.
BabyDogeSwap Did It Yesterday
Following its launch on the testnet in August, BabyDogeSwap launched on the mainnet on Oct. 6. To make it easier to participate in the DEX’s yield farms , it rolled out its 1 Click Farming Deposits Zap feature on Oct. 21.
According to BabyDogeSwap, with this feature, users can make stablecoin deposits and more directly into its yield farms without the need to manually swap them for LP tokens. Users can also import LP tokens from PancakeSwap into BabyDogeSwap.
PancakeSwap deserves applause for introducing the Zap feature to BNB Chain. However, the function has a narrow usage of adding and removing liquidity from the DEX.
ApeSwap one-upped PancakeSwap by offering functionalities that make it easier for users to interact with the rest of the products in the ApeSwap ecosystem.
With the introduction of BabyDogeSwap’s 1-Click Farming through Zap, there is no denying the fact that BNB Chain DEXes have realized that ease of use plays a significant part in whether users will choose to use them or a competing platform.
What Is PancakeSwap:
PancakeSwap is a Decentralized Exchange (DEX) built on BNB Chain. It offers users various features such as Liquidity Pools, Swapping, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT profile system, and many others.
In addition, the protocol helps users make the most out of their crypto assets by trading, earning through yield farming, and winning via lottery, prediction, and NFT collectibles. With the highest trading volumes in the market, PancakeSwap is the leading DEX on the BNB Chain.
Where to find PancakeSwap:
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 BabyDogeSwap:
BabyDogeSwap is a decentralized swap exchange on BNB Chain. Leveraging the blockchain’s low transaction fees, the DEX offers high APRs on farming and low swap fees. Users of BabyDogeSwap can stake tokens to earn $BabyDage and other listed tokens in the liquidity pools on the DEX.
For more information about BabyDogeSwap, visit the platform’s media links:
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.