{"id":2008,"date":"2021-08-27T10:11:57","date_gmt":"2021-08-27T10:11:57","guid":{"rendered":"https:\/\/deficoins.io\/?page_id=2008"},"modified":"2021-08-27T10:44:01","modified_gmt":"2021-08-27T10:44:01","slug":"apeswap-finance-review","status":"publish","type":"page","link":"https:\/\/deficoins.io\/review\/apeswap-finance","title":{"rendered":"ApeSwap Finance Review: Everything About The Protocol And Its Token Explained"},"content":{"rendered":"
With more adoption of cryptocurrency into several mainstreams, several decentralized exchanges are emerging in the Defi<\/a> ecosystem. They present more innovative features that attract more users and investors into decentralized finance.<\/p>\n Moreover, they offer great beneficial opportunities and profits, which originally were lacking in the crypto industry.<\/p>\n The advent of the ApeSwap Finance protocol on the Binance Smart Chain puts a facelift for the blockchain in the industry. Running on BSC means a faster transaction rate with a lower cost than most protocols on the Ethereum blockchain.<\/p>\n This ApeSwap Finance review will explain everything from the token $BANANA to its functionality in the DeFi space.<\/p>\n Contents<\/p> ApeSwap Finance is an Automated Market Maker (AMM) built on Binance Smart Chain for yield farming and staking. It’s a decentralized exchange that gives users access to different financial markets for lending, payments, staking, and derivatives. Also, through alternative savings, users can get tokenized assets.<\/p>\n The protocol aims to decentralize most aspects of the traditional financial sector, such as credit, insurance, and others. Most of these services remain inaccessible by most societal members, especially those at the bottom pyramid and in underdeveloped countries.<\/p>\n With the use of blockchain services and crypto tokens, ApeSwap Finance pushes solutions to challenges in centralized finance. Some of these issues include mismanagement and third-party influences, hacking risks, arbitrary fees, and others. Thus, the protocol functions as a replacement to centralized institutions in loans, insurance, and derivatives.<\/p>\n ApeSwap Finance functions as an Automated Market Marker (AMM). We\u2019ll give a little explanation of the operations of AMMs for a clear understanding.<\/p>\n Traditionally speaking, trading involves the creation of order books with prices recorded in them. As a public document, traders on a platform can easily access the order books. For traders that want to buy at the seller’s price, they can input their bid.<\/p>\n However, there could be a mismatch between the price of the sellers and the biding price from potential buyers. Thus, there will be no trading occurring until one of the parties compromises with its price stand.<\/p>\n Normally, both the seller and the buyer want to make a profit. So the seller goes for higher prices while the buyer looks for lower prices. When the two stick to their stands on prices, there will be no market.<\/p>\n Thus, the only option is for a trader that will buy the product at the seller\u2019s price. That forms the role and function of Market Makers.<\/p>\n The market makers will trade with sellers that have high prices for their products. Also, they trade with buyers that demand low prices for products.<\/p>\n Thus, in the Defi ecosystem, ApeSwap Finance as an Automated Market Maker (AMM) operates with technological codes or smart contracts. These help to set a definite price for digital assets that trade on the platform. Through such automation, customers will always get the market prices.<\/p>\n The ApeSwap Finance runs as a community of which the founders refer to themselves as the community Monkeys. The ApeSwap Finance community has a founding team of five Monkeys.<\/p>\n Other behind-the-scene team members operate in business development, code pushes, designs, and other aspects for ApeSwap Finance.<\/p>\n The ApeSwap Finance has a native token known as BANANA, often symbolized as $BANANA. This stands as the utility token for the protocol as you can\u2019t do any transaction without the BANANA token. It takes the holding of the BANANA for a user to participate in any activity on the platform.<\/p>\n One of the ways to acquire the token is by buying the token from the exchange or any other platform the sells the token.<\/p>\n ApeSwap Finance has a market cap of over $235 million. There\u2019s no maximum token supply limit yet for the cryptocurrency. Its circulating token supply is about 52,014,622 BANANA tokens. At the time of writing, the price of $BANANA is at $4.52 per token, representing a 6.04% surge within the last 24 hours.<\/p>\nWhat is ApeSwap Finance?<\/strong><\/span><\/h2>\n
Understanding the Operations of ApeSwap Finance<\/strong><\/span><\/h2>\n
ApeSwap Finance Founders<\/strong><\/span><\/h2>\n
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ApeSwap Finance Token (BANANA)<\/strong><\/span><\/h2>\n