Crypto exchanges have enabled hundreds of thousands of people to gain access to the ever-increasing variety of crypto tokens to buy, sell and trade. With mainstream crypto exchanges still working as centralized entities, they go against the founding principles of blockchain and cryptocurrencies. This is where decentralized exchanges (DEXs) come in. There are many DEXs to choose from today and Binance Smart Chain hosts a large variety due to its efficiency and low transaction costs. While the battle for dominance between DEX platforms seems to be getting intense, ApeSwap seems to be the logical winner on BSC in the near future, thanks to its plethora of services.
The platform makes it easy for people to start making profits, offers token launchpad services and NFTs, along with staking, pooling and farming.
ApeSwap: Going Bananas
ApeSwap, as the name tells, is themed around the majestic creatures and with its BEP-20 native BANANA token, users are experiencing profit growth. The project sets itself apart with its wide range of features.
Like any standard DeFi platform, ApeSwap offers a farming option, where users can stake supported tokens within the platform and earn BANANA. At the same time, BANANA can also be used to take part in the liquidity pools where the profits are paid out in different partner tokens.
ApeSwap also has its own versions of coin offerings and NFTs. The Initial Ape Offering (IAO) is a launchpad for new tokens, allowing ApeSwap users to become early investors and reap rewards not only through profits in the shape of rising value, but stake these further to create a whole new income source. Another localized version of the crypto craze is the Non Fungible Ape token (NFA). Only 1,000 NFAs have been made and the last 50 are left to be acquired. ApeSwap is also planning to offer free tokens to the NFA holders, along with premium access to upcoming services.
ApeSwap also offers guidance to its projects that intend to use its platform as a launchpad. With its wealth of experience in DeFi, tokenomics and platform building, the BUIDL serves offers to coach and fine-tune coding and strategies for maximum efficiency and user-friendliness.
Cryptos are notorious for price fluctuations, especially by whales (large token holders that can move markets through their power to buy and sell a large number of tokens). GNANA is a BANANA derivative token that aims to counter whales. GNANA can be acquired only through BANANA, of which 28% is burnt and the remaining 2% in the shape of GNANA is distributed between previous holders.
Aiming for the Top
Binance Smart Chain (BSC) was created as a parallel to the centralized exchange Binance’s attempt to enter the DeFi market. With its faster transaction speeds and lower transaction costs, BSC has witnessed exponential growth. Today BSC DeFi platforms have more than $18 billion in locked value shared among some 300 odd projects. Consequently, ApeSwap has been created in the BSC ecosystem. As the third most DEX on BSC, ApeSwap can easily overtake as the market leader.
While many argue on the long term viability of DeFi services and the tokens they offer, the fact of the matter is that projects like ApeSwap are helping people make money and are here to stay. To enable more access to the platform and its services, ApeSwap is also available on the Polygon blockchain network.