Syscoin’s Rollup Suite, Rollux, is coming together to give the blockchain industry the most secure, fastest, and lowest cost scaling options available. We are on a mission to onboard projects and developers who understand the value of delivering their users the optimal Web3 experience. Many partners of our partners have been actively working within our private testnet, in order to assume the position of industry-leaders in their respective markets once mainnet arrives. One such partner is ApeSwap, who is taking advantage of the opportunity to expand their range of offerings for the Syscoin ecosystem.
ApeSwap is working on expanding to Rollux, bringing with them their core product offering of DEX, Jungle Farms, and Treasury Bills. Their goal is to help craft a narrative around Sustainable Liquidity Mining on Rollux, ensuring that new projects launching or expanding to Rollux are set up with long-term, sustainable, protocol-owned liquidity.
Once an adequate level of protocol-owned liquidity is achieved, projects can transition into raising stables and other strategic assets in order to further diversify their treasury. Over time, as markets move, it is critical that projects seeking long-term success diversify their treasuries away from 100% native token.
At the core of the ApeSwap platform is their decentralized exchange, or DEX. Their multichain DEX allows users to swap between ~200 tokens on BNB Chain, Polygon, Ethereum, and soon, Syscoin. Users can also add liquidity to the ApeSwap DEX to earn passive income on tokens you hold via trading fees in the form of liquidity provider tokens (APE-LPs).
ApeSwap Jungle Farms allow partner projects to incentivize their own liquidity by paying out their own tokens as rewards through our platform. Jungle Farms allow users to diversify their rewards across platforms and projects without using several platforms to create and manage LP tokens.
Inspired by a combination of TradFi, DeFi, and NFT products, ApeSwap’s Treasury Bills allow users to access tokens at a discount in exchange for their liquidity provider (LP) tokens. 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. Jungle Bills allow users to sell their LP tokens to earn partner project tokens at a discount, vesting over a certain time specified by the project.
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 liquidity created through the sale of Jungle Bills. Treasury Bills, when combined with both Yield Farming and Staking Pools, can be used to create an end-to-end sustainable liquidity mining program for our partner projects.
Sustainable Liquidity Mining (SLM)
ApeSwap invented SLM as a response to the DeFi 2.0 conversations that took our industry by storm at the end of 2021. ApeSwap has recently started building sustainable liquidity using our Treasury Bills products, which allows users to sell their liquidity provider tokens (APE-LPs) in exchange for discounted tokens. They tested this product with their own token through BANANA Bills, and Syscoin is joining them to create their own Jungle Bills.
ApeSwap has created a “one-stop shop” solution on the market because they have liquidity mining, Treasury Bills, and a DEX under one roof. Through managing these multiple products they have developed a proprietary methodology called “dexenomics”, which determines a custom plan for every project by considering their tokenomics, market cap, volume in congruence with this 100% unique offering. Sustainable liquidity mining represents an incredible tool for the future of our industry by serving every project’s long-term plan to source liquidity.
Syscoin is preparing blockchain for mass-adoption by offering the only rollups anchored in Bitcoin’s gold standard security and ApeSwap is pushing the boundaries of what DEXes have to offer. As crypto’s dark horse rises, ApeSwap’s expansion is only a glimpse of the great things to come. Blockchain is changing, don’t get left behind.
ApeSwap is an easy-to-use decentralized finance platform. Host to over a million active monthly users and one of the most popular Dapps available on the Binance Smart Chain, they offer a suite of services including trading, lending & borrowing, staking pools, and yield farms. ApeSwap makes the security of its users’ assets paramount, as evidenced by their history free from hacks or exploits of any kind. They are also proud to have more official partnerships than any other BSC-based DEX.
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Syscoin is a decentralized and open-source project founded in 2014 whose NEVM blockchain combines the best of Bitcoin and Ethereum in a single coordinated modular platform.
Syscoin is ushering in the next step in the evolution of blockchain technology, providing Bitcoin’s proven security and Ethereum’s Turing-complete programmability elevated to true scalability via Optimistic, ZK-Rollups, Cross-chain ZK-Rollups and other Layer 2 technologies.
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Sep 28, 2022 by Syscoin Foundation