ApeSwap has been having a series of tests on a lending program in the past months. This series of tests is to ensure that its users are getting the best out of the platform.
Upgraded Lending Network
After several months of beta testing, the company’s team is ready to take the test to a different level. The platform’s DAO sent a new proposal that one BANANA should be taken from each emission block and sent to the Lending Network and not the DEX. It is expected that this upgrade will help increase the volume of BANANA available in the community.
The launch date for the recent Lending Network is the 7th of February, as stated on the 2nd of February by the company’s post on its medium account. The beta team noted that users from about 151 nations tested the new network.
As stated on their medium account, over 5,000 users were part of the test every month. As per the rewards, the program can provide 10x rewards for its community. The exchange saw that this reward is beneficial to its members and has decided to start operation on the 7th of February. This information was also posted on their Twitter handle. BANANA will be allocated to each block following a set of metrics.
New fees from the Lending Network will produce investments that will return to the ecosystem. These fees can then be used for treasuring, paying Ola (partner of ApeSwap), and burning.
ApeSwap is one of the top DEX (Decentralized Exchange) on the Binance Smart Chain (BSC), which provides a trading platform for its users. Users can access the platform either through the app or the website. The currency on the exchange is $BANANA which users can earn through pool staking. These tokens can then gain more tokens and unlock premium features. Users can take part in unlimited pools and stakes as there are no limits.
Also, ApeSwap has a lottery section open 24 hours, where users can follow the instructions on the lottery page.
As ApeSwap expands and decentralizes its network protocols, more innovation is sure to enter the community.
Currently, ApeSwap finance is trading at $0.48, with a market cap of over $45 million.
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