Apeswap! GOLDEN BANANA($GNANA) AND IT'S FEATURES
Good day dear crypto lovers! I Will be making a review on the Apeswap Golden banana and it's features. Earlier on in my previous article I did talked about Apeswap being a decentralized exchange with a low transaction fees, fast transaction and also a friendly user interface and I listed out features of Apeswap and also its token ( banana) as well.
So let's get to know about this golden banana and how it works, like I said earlier Apeswap is a project which offers us things that are rare in crypto. So first of all I will be giving us a fresh reminder of what Apeswap is all about.
WHAT IS APESWAP
ApeSwap is a Decentralized Exchange / Automated Market Maker, Yield Farming, and Staking platform running on Binance Smart Chain, with lots of other features that let you earn and win tokens. This project called Apeswap was built by DeFi apes, for DeFi apes! I hope you understand what that means, Apeswap has also dedicated a team of experienced monkeys who has been in the crypto space for years, coming together to plan and build this project to be an outstanding one. The native token of Apeswap is Banana.
Since banana is the native token of Apeswap let's get to know what GNANA is actually used for, and how it could be so important to the users of Apeswap.
GOLDEN BANANA (GNANA)
Golden banana is also an Apeswap token which is being used for many activities in the Apeswap platform and can be swapped to banana as well with charges applied. The Golden Banana has been designed specifically to reward loyal ApeSwap community members, who stick with Apeswap through thick and thin. Apeswap confirmed golden Banana holders as the true Apes, and there will anticipate on treating them like V.I.Ps in the Apeswap ecosystem.
Since we now what the GNANA is all about and it's important in the Apeswap platform, let's get to know the features or properties of GNANA. Read on you will be amazed
PROPERTIES/ FEATURES OF GNANA
Passive Farming : Talking about passive farming! GNANA is a reflect token with a 2% transfer fee which gives it's holders (GNANA) a share of the fee proportional to their holdings just by having it in their wallets.
Exclusive IAO Access : With GNANA you can gain access to exclusive token allocations for Initial Ape Offerings in the platform. The purpose of this is to increase the BANANA being burned and combat the whale problem in the current overflow model IAO’s. The team memebers has seen a lot of potential solutions for this, but nothing that truly works in thier opinion. So Apeswap will penalize any whale who comes to Apeswap for the IAO purpose and does not remain a long term - holder, apeswap intend doing this through the burning fee when such whale swap thier GNANA back to banana.
Exclusive Pool Access : On top of the exclusive IAO access, Apeswap will have GNANA-only staking pools for all their most loyal apes. Stake GNANA and enter exclusive pools to earn other tokens!
Governance : The intention of Apeswap is to use GNANA as their core governance token . Tho it won’t happen immediately and will be progressive over time as there continue to integrate GNANA into the ApeSwap ecosystem. Their long term goal is to give power to their community, the Apes that matter the most of course.
ApeSwap do not have this fully baked out yet, and need to prove out the GNANA concept with thier community first. Additionally, there plan to use snapshots to handle governance, like most DeFi platforms.Burning: Apetastic wouldn’t let Apeswap release something without a pyromaniac feature to burn BANANA. To purchase $GNANA there is a 28% burn fee + the 2% reflect fee, resulting in a 30% cost when going from
BANANA → GNANA.Backed 1:1 by BANANA:
The GNANA is ultimately backed 1:1 by BANANA’s. You can always swap your GNANA back to BANANA. This would all come after the 30% fee so be mindful if you’re thinking of going back! If someone was to sell their precious GNANA, that supply is locked up in a treasury fund and ultimately available for purchase from the next person that wants GNANA. As a user you get 1 BANANA per GNANA when you sell. If someone was to purchase GNANA and there was none in the treasury, new GNANA is minted.
TAKE NOTE
There are actually essential things we should know about this GNANA so we don't get confused or dump founded along the way
Apeswap states that there may increase the burn fee down the line so its adviceable for everyone to get those GNANA while they are cheap!
The GNANA does not have a price nor will Apeswap open up a trading pair or farm for it. Its core utility will be the functions outlined above. The only time there is a price referenced is for IAO’s.
CONCLUSIONS :
GNANA isn't just a token which you can buy and dump at any time, the activities in which this token is used for makes it so relevant in the Apeswap, without GNANA you can't pertake in most activities in the Apeswap platform. In the previous times we have seen how whales manipulate the market through buy and dump, but Apeswap isn't actually going to let this happen in the Apeswap platform that's why there set up a penalty for any whale who would come to Apeswap for IAO and wouldn't want to be a long term holder. No doubt this project (Apeswap) possess features / properties which are very rare in the crypto space.
For more information about Apeswap, follow the links below 👇👇👇
Website : https://apeswap.finance/
Twitter : https://twitter.com/ape_swap
Whitepaper : https://obiedobo.gitbook.io/apeswap-finance/
Medium : https://ape-swap.medium.com/
Telegram : https://t.me/ape_swap
Proof of Authentication :
Forum Username : Emmychris
Profile link: https://bitcointalk.org/index.php?action=profile;u=2825273;sa=summary
BSC Address: 0xc36BE80721595EC2f162E32d5810a1093E8D289d