thecoinrepublic.com
- An up-and-coming decentralized exchange has gone cross-chain as it plants new seeds to develop the jungle
- Polygon has partnered with ApeSwap to create yield farming services PolyCrystal Finance, Barbershop Finance, and TakoDeFi, as well as the vault service ApeRocket and the IDO launchpads Astronaut and ApeTools
- ApeSwap claims to have taken Binance Smart Chain by storm, claiming to have amassed 425,000 monthly active users in less than four months
As it sets new seeds to develop the jungle, an up-and-coming decentralized exchange has gone cross-chain. ApeSwap’s decision to expand to Polygon was motivated by a recognition of the multi-chain trend that has arisen in the blockchain industry, as well as a desire to be on the bleeding edge of DeFi. The project’s leadership has also invited ten of its closest Binance Smart Chain partners to join them, allowing them to quickly build a DeFi economy on Polygon.
Through co-marketing and MATIC liquidity incentives, the launch was carried out with the full backing of the Polygon team. The ApeSwap DEX has kicked things off by bridging one Banana per block for farming, in addition to the MATIC incentives. The argument for bridging $BANANA is straightforward: It’s difficult enough to support just one inflated token. The ApeSwap team decided to construct a bridge to ensure that the cryptocurrency’s long-term growth prospects and tokenomics stay constant cross-chain in order to protect the cryptocurrency’s long-term growth prospects and tokenomics.
The yield farming platforms PolyCrystal Finance, Barbershop Finance, and TakoDeFi, as well as the vault service ApeRocket and the IDO launchpads Astronaut and ApeTools, are among the projects that have joined Polygon with ApeSwap. Unimex is on standby to handle leveraged trading, while NFTKEY and Neural Pepe are available to provide non-fungible projects. On June 19, the Anyswap bridge connecting BEP-20 BANANA to Polygon was officially launched, clearing the door for ApeSwap’s DEX to launch two days later. Looking ahead, ApeSwap claims partner projects will continue to debut on a regular basis, ensuring that the project’s backers never run out of things to do. They couldn’t be more delighted to officially be a cross-chain decentralized exchange and cryptocurrency,” ApeSwap co-founder Obie Dobo said. ApeSwap is committed to delivering the best possible trading experience for all DeFi Apes, and this is another step forward in that direction.
ApeSwap claims to have taken Binance Smart Chain by storm, claiming to have amassed 425,000 monthly active users in less than four months. The initiative is hoping to achieve a similar level of success on Polygon. Overall, it has collaborated with over 80 projects, grown its network to over 150,000 people, and created a top 10 NFT project that has made quite an impression. ApeSwap is also utilizing its platform to nurture the next generation of major crypto ideas, launching a BUIDL program to assist new companies in growing and an IDO launchpad, dubbed Initial Ape Offerings (IAO), to launch potential creative initiatives.
ApeSwap claims to have a laser-like focus on delivering the finest retail trading experience in DeFi as 2021 advances. Expanding to Polygon has aided with the development of the project’s framework as it strives to become a top multi-chain DEX. A variety of other features are also in the works. Limit orders and leverage trading will be added shortly to its decentralized exchange, which has begun charting. Because ApeSwap’s users are at the center of the project, establishing governance is also on the agenda for July.
ApeSwap just began the #HotDeFiSummer campaign, which includes a monthly round-up of pledges that highlight what the team is working on. July’s commitments include 25 new trading pairs, Reddit AMAs, volume mining, additional episodes of their podcast, and an auction for the remaining NFTs from their restricted collection, in addition to governance.