BANANA TOKEN AND BENEFITS TO HOLDERS

modanaleen (28)in #defi • 3 years ago

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I am pretty sure you have all in one way or the other heard about ApeSwap. Yes, this is current AMM trending right now with lots of opportunities to behold. And one of the major benefits you can get from ApeSwap.Finance is becoming a holder of its native token BANANA. Holders of BANANA token are exposed to lots of opportunities for holding this native token of ApeSwap. Now, here are what you need to know about ApeSwap's native token "BANANA". Read on!

Before I begin to write, let me remind you that ApeSwap is a decentralized exchange and an Automated Market Maker (AMM) launched on BinanceSmart Chain (BSC). On ApeSwap, you can easily and securely swap virtually all your favorite DeFi and BSC tokens. And not just that, you can also get to earn through holding BANANA.

INTRODUCING BANANA TOKEN

Just like every other project, the BANANA token is the utility and native token of ApeSwap. It is the means of transaction on ApeSwap.Finance. This entails the fact that, BANANA token will serve as the major form of transaction on the platform. BANANA token whose ticket is (BANANA) is a Binance Smart Chain token.

We can unarguably see that the token has exponentially grown ever since inception from $0.8/ token to above $10/$. This is a sign that the token is meant to be highly valued as the platform continues to grow.

WHAT CAN YOU DO WITH YOUR BANANA?

Do you have BANANA tokens and don't know how or what to do with it? Well, not too worry as this article will provide you with insights on how to get to work with your BANANA token.

LIQUIDITY POOL

Liquidity Pool is one of the major ways you can put your BANANA tokens to work on ApeSwap and earn decent APY.

WHAT IS A LIQUIDITY POOL?

A liquidity pool is a situation where participants or individuals of a dex platform provides liquidity for a particular pool. This funds are therefore locked in a smart contract. Liquidity pools are mostly used to facilitate decentralized trading, lending, staking and many more on decentralized exchanges like ApeSwap.

HOW LIQUIDITY POOL WORKS ON APESWAP

Having known about Liquidity Pool and how it works, on ApeSwap, Liquidity Providers (LPs) provides and give liquidity on different available pairs which are then used to working with exchanges on the ApeSwap decentralized exchange.

ApeSwap liquidity pools allows you to give liquidity by adding your tokens to liquidity pools or "LPs". After adding your token to a liquidity pool (LP), you will then get APE-LP tokens. For instance, if you provide a liquidity of $BANANA and $BNB into a liquidity pool, you would get BANANA-BNB APE-LP tokens. And the same goes to other pairs on ApeSwap. At this juncture, it is pertinent to understand that the higher your LP, the higher your returns. The amount of APE-LP tokens you get is highly dependent on the BANANA-BNB liquidity pool.

STAKING YOUR BANANA TOKEN

Another way you can simply put your BANANA token to work is through STAKING/Farming. You can earn upto 500% APY just for staking or farming BANANA tokens in any of the available pairs on the platform.

TRADING BANANA

Trading is another way you can simply put your BANANA token to work. You can connect your wallet to the website and seamlessly trade BANANA token with other listed pairs.

The value of BANANA token will continue to thrive as long as the platform exists. The team will keep on working and developing the platform while initiating newer and mind blowing plans for Apes.

BANANA TOKEN DETAILS

CONCLUSION

ApeSwap is one of the latest and trending DeFi exchange and its platform's native utility token $BANANA is steadily growing. The decision is yours to take. In my opinion, BANANA token is currently undervalued. BANANA at $20 is quite realistic and achievable. If you don't already own some, I advise you to take a look at it and buy some. Above all, ensure to do your due diligence research!

Project's Details

ApeSwapFinance App: https://apeswap.finance/
Medium: https://ape-swap.medium.com
Twitter: https://twitter.com/ape_swap
Telegram: https://t.me/ape_swap
Announcements: https://t.me/ape_swap_news
Telegram Price: https://t.me/ape_swap_price
GitHub: https://github.com/ApeSwapFinance
Instagram: https://www.instagram.com/ape_swap/
Apeswap Analytics : https://info.apeswap.finance/home