ApeSwap is a fast growing decentralized exchange on Binance Smart Chain

4 min readMay 5, 2021

Hello, friends! Today I have prepared for you an overview of a very interesting blockchain platform called ApeSwap, which is a new type of automated market makers, smart contracts that automatically provide liquidity in electronic markets, and a farming and staking platform on Binance Smart Chain.

ApeSwap, based on blockchain technology, maintains liquidity in the chain and offers transparent pricing mechanisms, thus eliminating the need for counterparties.

ApeSwap has its token — BANANA, the holders of which will be able to participate in the management of this platform. And by automating the process, members of the ApeSwap community will be able to earn even more BANANA.

It is important to note that ApeSwap is a DeFi platform, where the priority is given to its community, the holders of BANANA platform tokens. Therefore, the ApeSwap team plans to make the ApeSwap platform completely controlled and managed by its community, creating not only their farms but also DEX and AMM.

Also, the platform team pays great attention to the security of its users’ funds, therefore, two audits from BSC Gemz and Certik were initiated on the platform, as well as a long-term partnership with CryptEx Locker was concluded to promote secure methods in the Binance Smart Chain ecosystem.

And the partnership with Soteria Mutual will allow members of the ApeSwap community to purchase coverage for their BANANA, thereby protecting their assets from hacks.

To increase the value of BANANA tokens, the team burns them regularly.

The platform charges a fee of 0.3% for the swap, with 0.05% of each transaction going to the ApeSwap Treasury, whose funds for the first three months will only be used to buy back and burn BANANA tokens.

ApeSwap also plans to host various games and lotteries, which will also burn 20% of tokens in each round.

It is important to note that the ApeSwap team is building their own BANANA vaults with higher APYs and built-in token burning. For the withdrawal of funds, a commission of 0.05% -0.1% will be taken here, which will also go to the redemption and burning of BANANA tokens.

In addition, ApeZone was created on the ApeSwap platform, which is a launching pad for new promising projects, and contributes to an increase in the level of community involvement, and, therefore, an increase in the usefulness of the ApeSwap platform token — BANANA.

By the way, APOyield is the first member of ApeZone.

ApeSwap has formed important partnerships with BakerySwap, Beefy.Finance, CafeSwap, SUSHI Frenzy, Squirrel.finance, BrickChain.finance, Ontology, KeyFi, xBTC, etc., which in turn is helping to open up new trading pairs and farms, and add liquidity on the ApeSwap platform.

ApeSwap has created a rare NFT collection of 1000 apes integrated on the platform.

NFT rarity is determined by the following levels:

♦ ️Level 1 (500 NFA) — These are the most common chimpanzees

♦ ️Level 2 (250 NFA) are the original orangutans

♦ ️Level 3 (150 NFA) — adorable monkeys

♦ ️Level 4 (70 NFA) — Prime Primates

♦ ️Level 5 (30 NFA) — the Rarest Magic Monkeys

I would also like to highlight another development of ApeSwap, which significantly distinguishes the platform from other decentralized exchanges — this is Golden Banana, the main management token of ApeSwap.

Golden Banana (GNANA) is designed to reward dedicated community members in the ApeSwap ecosystem.

GNANA holders will have some benefits:

— receive a share of the commission proportional to their contributions, simply by having GNANA tokens in wallets;

— get access to IAO and exclusive pools.

GNANA tokens can be exchanged for BANANA in a 1:1 ratio, however, you will have to pay a 30% commission for the exchange.

Summing up the above, it should be emphasized that the decentralized exchange ApeSwap stands out significantly from its competitors, has strong partnerships with top projects, and a professional team that inspires confidence.