The decentralized ApeSwap cryptocurrency exchange gives users access to a range of financial opportunities, including yield farming, staking, payments, loans, and derivatives. Initially, the exchange was launched on the Binance Smart Chain. However, in July 2021, the exchange was also launched on the Polygon network.
Thus, the DEX was altered to integrate its dApps into the Polygon network. It brought PolycrystalFinance, BarbershopFinance, and TakoDefi yield farms, the ApeRocket vault, Astronaut & ApeTools launchpads, the JDIYield dashboard, NFTKey marketplace, NeuralPePe NFT project, and a leverage trading platform, Unimex, to Polygon. Besides, this launch brought the MATIC-based reward system to ApeSwap. MATIC is the native token of Polygon.
Since it is a decentralized platform, anyone can use its services, and KYC verification is not necessary. All it takes to access the ApeSwap (Polygon) crypto exchnage is to connect your current cryptocurrency wallet.
Markets
There are over 200 ApeSwap (Polygon) trading pairs. Being built on Polygon, the major markets include WMATIC, USDC, and USDT. There is no ApeSwap (Polygon) spot trading available, neither does the platform support margin or leveraged trading.
The platform charges 0.20% on all token swaps as the ApeSwap (Polygon) exchange fee. The ApeSwap Treasury receives 0.05% of each transaction, with the remaining 0.15% going to platform-based liquidity providers. The ApeSwap (Polygon) crypto price charged for these transactions is defined by the cryptocurrency network the user desires to deposit to or withdraw from since all deposits and withdrawals are done using cryptocurrencies.
BANANA is the native token of the ApeSwap (Polygon) crypto exchange. No transaction can be performed without BANANA, making it a crucial component of the protocol. Additionally, the platform includes a governance token of its own, called GNANA. Holding GNANA includes unique advantages like exclusive pool access, exclusive IAO access, and passive farming in addition to allowing users to vote on the direction of the platform in terms of upgrades.
Other Services
A key feature of ApeSwap is its yield farms, which encourage users to stake their APE-LP tokens to contribute to liquidity. It offers anyone searching for passive income auto-compounding vaults, where tokens are automatically staked to create yields. Additionally, a large portion of farming revenues is used by Burning Vaults to repurchase and burn BANANA tokens.
Another service offered by the exchange is Initial Ape Offerings (IAOs), which basically are IDOs held on ApeSwap. IAOs can be official (those that ApeSwap has reviewed and verified) or self-serve IAOs (unverified projects).
In addition, the ApeSwap cryptocurrency exchange offers the BANANA Lottery. Users have to use BANANA tokens to enter the lottery. They are eligible to win prizes if 2-4 of their tickets have the winning ticket in their precise order.
Besides, as mentioned before, ApeSwap also provides users with various other services such as loans, NFA Auctions, staking opportunities, and so on.
About the Company
The ApeSwap cryptocurrency exchange was founded in 2021 by a team of crypto trading experts. As mentioned before, it was launched on Polygon in July 2021. The platform is an innovative project that has partnered with Seascape Network, a DeFi gaming platform.
The founders of ApeSwap refer to themselves as the "community Monkeys." The project is fully community-run but there are five original members of the ApeSwap team – Harambe Nakamoto, Half-Monkey Half-Machine Ape Guru, Apetastic, Donkey Kong, and Obie Dobo.
