What does Apeswap integration mean for DePocket?
As DePocket is developing its next features, to provide an even better experience for Dapp users, DePocket gets to engage with other Dapps that are interested in making DePocket their Defi partner.
We are happy to announce that DePocket has officially partnered with Apeswap , the number 1 yield farm in the world.
What is a yield farm? A yield farm is where users can stake their coins on certain dApps or Decentralized Apps and get rewarded for it. That means that if you have some coins, you could use them to help these dApps gain more transactions… in return for some profits.
Now that DePocket has partnered with Apeswap, our users can also benefit from this partnership!
Apeswap is an interesting Dapp because it is a yield farm but with monkeys instead of robots (no joke!). As everyone knows, apes are intelligent primates which makes them perfect for the job! But what exactly does Apeswap do? What are its features?
ApeSwap is a leading decentralized exchange (DEX) on Binance Smart Chain and Polygon focused on offering a premier trading experience. Users are incentivized to pool liquidity on ApeSwap through yield farming to earn the native currency, $BANANA. Additionally, apes can use their $BANANA to stake and earn other tokens and unlock exclusive features. Built by DeFi apes, for DeFi apes, we have a dedicated team with years of experience who are committed to the DeFi community and growing the ApeSwap Jungle.
ApeSwap is built around community-driven market-making incentives called Yield Farming. Apes contribute liquidity in the form of digital assets by sending them to smart contracts that hold these assets or otherwise provide them to market takers at a discount. A portion of the liquidity pool is dedicated to Apes who submit orders through their API or via web3 wallets (like MetaMask, Cipher or TrustWallet). These Apes are rewarded with $BANANA, which can be used to stake towards more trading fees and unlock exclusive features.
$BANANA also powers the utility provided by Smart Contracts, including feature unlocks like protocol voting, staking for more trading fees, custom account addresses & more. They’ve set aside 25% of supply for these contracts, which means that as usage of the network increases so too will the value of $BANANA — this sets us up nicely to ensure liquidity on their DEX. If an Ape wants to increase their stake or unlock a feature, they can do so through their on-chain voting portal.
Their on-chain protocol voting portal, which is hosted in a smart contract, allows Apes to vote on future Airdrops and protocol changes using the $BANANA they have staked . These votes have weight relative to the amount you’ve staked, so it’s important that Apes participate! The Air drop & Voting Portal will be used for community-driven incentives such as a Makers Market which will allow traders with excess capital to contribute liquidity by selling coins at a discount while helping new users trade without having to hold digital assets of their own.
DePocket’s Dapp is the customer’s central access point for all DeFi tools. Because of this, DePocket has integrated Apeswap, AMM and yield farm to provide its Dapp users with the most convenient experience possible when interacting with both services.