ApeSwap Finance (BANANA)
Multichain DeFi hub for trading, lending and self owned liquidity for protocols.
Basics
History
Audits & Exploits
- Bug bounty program can be found here (1-7-2021). Program is active and rewards as high as 100k.
- Score got updated to 57% (7-1-2022) after it introduced Governance plans.
- Previously scored a 42% on DeFi Safety (1-7-2021) regarding the BSC implementation: "Certik did a ApeSwap audit on May 6th 2021. Gemz did a ApeSwap audit on March 5th 2021. Note: I gave them 50% because of all the issues highlighted, half of them were never addressed, and the other half were only partially fixed. None of the issues/recommendations highlighted are fully resolved and implemented."
Bugs/Exploits
Governance
Admin Key
- From DeFi Safety (2-7-2021):
"No admin control information was found in any of their documentation. No Pause Control documentation was found in any of their docs."
DAO
Treasury
Token
Launch
Token Allocation
Utility
Other Details
GNANA
- From DeFi Safety (7-1-2022):
"GNANA will be the token that dictates a user’s ability to vote. Each $GNANA owned by an address counts as one vote for any given proposal."
Stablecoin
Coin Distribution
Technology
- Whitepaper can be found here.
- Code can be viewed here.
Implementations
How it works
Fees
Upgrades
Staking
Validator Stats
Liquidity Mining
Scaling
Interoperability
Other Details
Oracle Method
Their Other Projects
Initial Ape Offerings (IAOs)
- From their docs (7-10-2022):
"An Initial Ape Offering (IAO) is a fundraising vehicle used to launch new tokens and bring liquidity to those tokens. Users can participate in an Official IAO using either BNB or GNANA. When you participate in an IAO, you are trading those tokens for the token being launched."
Treasury Bills
- Apeswap has its own spin on Protocol Owned Liquidity. From their docs (7-10-2022):
"Each Treasury Bill is a unique NFT that represents the output tokens (BANANA or partner project tokens), which vest over a certain amount of time. ApeSwap Treasury Bills come in two formats: BANANA Bills, and Jungle Bills. BANANA Bills allow users to sell their LP tokens to receive BANANA tokens at a discount, vesting over 14 days.
The goal of Treasury Bills is to source sustainable liquidity for the ApeSwap DEX and for partner projects, solving many pain points in the current liquidity renting model used by the vast majority of the DeFi industry. Treasury Bills allow ApeSwap to own the liquidity created through the sale of BANANA Bills, and allow ApeSwap's partner projects to own the liquiditiy created through the sale of Jungle Bills."
Roadmap
- Can be found [Insert link here].
Usage
- Peaked in end of 2021 to over $300m TVL but crashed hard during the 2022 bear towards ~$88m (28-10-2022).
Projects that use or built on it
Competition
Pros and Cons
Pros
Cons
Team, Funding, Partners, etc.
Team
- Full team can be found [here].
Funding
Partners
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