ApeSwap cryptocurrency exchange is a decentralized platform that enables users to take advantage of various financial opportunities, such as yield farming, staking, payments, lending, and derivatives. It operates on the Binance Smart Chain network and provides tokenized assets for alternative savings.
ApeSwap crypto exchange utilizes blockchain technology and crypto tokens to provide alternatives for the difficulties caused by centralized finance, such as mismanagement, external interference, hacking threats, and excessive fees. Therefore, it acts as a substitute for traditional institutions in providing loans, insurance, and derivatives. Being a decentralized platform, its services are not restricted to anyone, and it does not require KYC verification. You can gain access to the platform by simply connecting your existing crypto wallet.
There are over 250 ApeSwap trading pairs. Being built on the Binance Smart Chain (BSC), the major markets include BUSD, WBNB, and USDT. There is no ApeSwap spot trading available, neither does the platform support margin or leveraged trading. Some of the supported cryptocurrencies include ETH, TWT, GMR, MATIC, AVAX, DOGE, and many other prominent cryptocurrencies.
In terms of ApeSwap exchange fees, the platform charges 0.20% on all token swaps. 0.05% of each transaction goes to the ApeSwap treasury while the remaining 0.15% goes to Liquidity Providers on the platform. Since all deposits and withdrawals are made with cryptocurrencies, the ApeSwap crypto price paid for these transactions are determined by the crypto network the user wishes to deposit with or withdraw from.
ApeSwap cryptocurrency exchange has outlined a transparent process when it comes to the utilization of the revenue generated by the platform. 50% of the revenue received is used to buy back and burn the BANANA token – the platform’s native utility token. 10% of BNB DEX revenue is used to incentivize ApeSwap contributors, including, but not limited to core team members, administrators, third-party contributors, and contributing projects, while another 10% is used to take care of the day-to-day operations of the platform. Additionally, 20% is stored in the treasury for future use, while the remaining 10% is used for the optimization of the platform.
The BANANA token is an essential element of the protocol since no transaction can be completed without it. Furthermore, the platform has its own governance token called GNANA. Apart from giving users the ability to vote on the direction of the platform in terms of upgrades, holding GNANA has exclusive benefits like exclusive pool access, exclusive IAO access, and passive farming.
Holders of the BANANA token can take out loans and borrow other digital assets like ETH, DAI, USDT, BAT, WBTC, ZRX, and more. Also, users who stake their cryptocurrency on the platform for lending purposes are rewarded with interest. Furthermore, by holding BANANA and other digital assets in certain liquidity pools, users can receive rewards as well. These pools include the BANANA pool, BFT pool, ONT pool, JDI pool, LYPTUS pool, and SAFEP pool – all of which offer incentives for staking.
ApeSwap cryptocurrency exchange also provides Initial Ape Offerings (IAO) as a way to launch new tokens and increase the liquidity of those assets. Through BANANA liquidity pairs, users are able to take part in both current and upcoming projects.
About the Company
The ApeSwap Finance operates as a collective, with the founders dubbing themselves the "community Monkeys." The team behind ApeSwap consists of five founding members. This team includes Half-Monkey Half-Machine Ape Guru, true code monkey Apetastic, Harambe Nakamoto, Donkey Kong as the spark plug, and Obie Dobo as the zookeeper. The other members of the ApeSwap cryptocurrency exchange squad are key players in business growth, coding advancements, visuals, and more.
In February 2023, ApeSwap BSC trade volume ranged around $2,5 million. To see the current ApeSwap BSC volume, take a look above.