Grand Cayman, Cayman Islands, October 10, 2023, Chainwire
Three years ago, a dedicated team, affectionately known as “Apes,” founded ApeSwap. Today they are excited to introduce the next development in DAO’s DeFi development: The ApeBond rebranding.
This major milestone marks the beginning of a new era, including a complete rebrand, a revamped product and a new token launch. Starting October 12th, with governance approval, any Ape can begin migrating their BANANA and GNANA to ApeBond’s brand new token: A BOND.
Apes is confident that this historic day marks the beginning of a new chapter for the project, promising exciting opportunities for the future and providing a much-needed refreshed look and feel.
The rebranding
ApeSwap was originally inspired by PancakeSwap and has focused on being primarily a DEX since its inception. However, following the launch of bonds in early 2022, the DAO’s direction gradually shifted towards the latter, a model that better fits their vision of a sustainable future.
While the ApeSwap brand holds a special place for all Apes, the new brand is a sophisticated evolution of its predecessor and exudes a modern, elegant and streamlined look. But the core remains unchanged: they are and will remain monkeys.
That’s why the ApeBond team is made up of the same Ape users they’re already familiar with, but restructured for optimized efficiency and with a common goal: Transform ApeBond into the largest DeFi bonding protocol ever.
The new brand is now visible on all ApeBond communication channels. As users may have noticed, the inclusion of 3D elements began during the teaser campaign. Observant members of the community may have spotted these Easter eggs.
In addition, the new Ape.Bond website, which will reflect the look and feel of the new brand image, will be launched in the coming weeks.
The new token
Beyond the rebrand, upon government approval, users will be able to migrate their BANANA tokens to the new ABOND token via special migration bonds. This migration will enable revised tokenomics, a reduction in circulating supply, and an increase in fully diluted valuation, setting the stage for explosive growth.
“The ABOND migration represents a new chapter for the organization, with a whole new set of opportunities for its users and partners.” ApeGuru – Product Lead
The proposed migration has a 2-month window during which users can lock their BANANA as early as October 12, 13:00 UTC. Additionally, the Migration Bonds offer a multiplier boost and lock bonus allocation for users who decide to transfer their tokens over a longer period of time.
Unlock unparalleled utilities with $ABOND.
Users can embark on a transformative journey with the new ABOND token, which is not only a symbol of evolution but also a key to unlock exclusive utilities on the ApeBond platform. The integration of ABOND will connect token holders to the platform like never before. While the exact utilities will be fully revealed before the first ABOND is minted in early December, further improvements are planned to improve the user experience and take the protocol to new levels.
ApeBond will exceed expectations
Monkeys understand the curiosity and excitement surrounding ABOND’s new utilities. They are equally excited to introduce them to their valued community. The upcoming disclosure will not only meet but exceed users’ expectations, providing them with more opportunities to engage, invest and grow in the ApeBond ecosystem.
To ensure timely updates and not miss the important unveiling, interested parties are encouraged to subscribe to the newsletter, join the ApeBond community on Telegram and follow ApeBond on Twitter. This ensures that users are among the first to know about the unique utilities ABOND is introducing to the ApeBond platform.
Tokenomics
Image: Final numbers may vary depending on the quantity of BANANAS/GNANAs embossed.
For a deeper understanding of the ABOND distribution, here is a comprehensive breakdown of tokenomics:
- Migration (39.1%): Required for migration. Corresponds to the number of blocked BANANAS one to one.
- Ecosystem Fund (15%): A replacement for the current MasterApe intended for allocating ABOND for protocol growth (e.g. bonds).
- Multiplier buffer (14.9%): The amount needed to ensure everyone can migrate without dilution.
- Fundraising (10%): An allocation for fundraising.
- Ministry of Finance (10%): For recurring marketing and operational costs.
- team (5%): Intended for development of ApeBond. Has a linear vesting period of 3 years.
- Bonus Bucket (5%): Additional rewards for those who choose to lock their BANANA for a longer period of time during the migration process.
- Initial liquidity (1%): Needed to provide liquidity pools for the newly migrated token.
The migration
A governance vote will take place on October 11th until 23:00 UTC. If approved, starting October 12 at 1:00 UTC, users will be able to lock their $BANANA and $GNANA for migration to $ABOND via the new Migration Bonds page.
The migration bonds linear lock-up period begins on December 12, 2023 at 13:00 UTC and grants all $BANANA and $GNANA holders a 61-day migration window. Users who do not complete the migration within this period will lose their ABOND quota.
Considerations on migration bonds
- Multiplier boost: Migration Bonds provide a boost of up to 55% additional ABOND to users who choose a longer lock-in period, helping to offset dilution.
- Lock bonus: Users receive an additional lock bonus for each lock period. This bonus is determined by the percentage of tokens you have locked compared to the total for the selected period.
- $GNANA: Important note: Each migrated $GNANA is valued at 1.43 BANANA to account for the burn mechanic.
There are 4 different migration bonds available with the following exercise conditions, multiplier boost and locking bonus:
To migrate, users need to visit the migration page and follow these three simple steps:
- Enter the amount $BANANA or $GNANA — Remember, 1 $GNANA = 1.43 BANANA.
- Select the lockout period — The longer the lock user chooses, the higher the allocation of multiplier boost and lock bonus.
- Approve the Migration Bonds contract and migrate! — User’s ABOND allocation begins on December 12th.
The migration schedule can be seen below:
The new chapter of ApeSwap: culmination of vision and community unity
The rebranding and proposed token migration is not just a technical process; It is a testament to the strength and unity of the ApeSwap community. It represents a new beginning in which the monkeys invite all their friends, old and new, to join them.
As we have been operating in the DeFi space for some time, the new brand and token ApeBond will better reflect ApeSwap’s evolving vision, mission, values and goals.
Every step ApeSwap has taken so far has been possible thanks to the unwavering support of its community, the trust of its partners, and the shared passion for the DeFi landscape. Together, all Monkeys will pave the way to a better and more sustainable future in decentralized finance.
About ApeSwap
ApeSwap is a decentralized finance platform that offers a comprehensive range of tools to explore and engage with the future of wealth creation. With products ranging from a decentralized exchange to a bonding protocol to the new Liquidity Health Dashboard, ApeSwap enables users to access DeFi in a secure, transparent and globally accessible manner.
Contact
Mister.
Pah M.
ApeBond
[email protected]
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily nor is it intended as legal, tax, investment or financial advice.
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