The new Zap feature allows users to access ApeSwap products simply by holding a single token on BNB Chain or Polygon.
Meet ApeSwap’s Zap
ApeSwap, a prominent decentralized exchange (DEX) on the BNB chain, announced the launch of the “Zap” feature on September 13. According to ApeSwap, the new feature was rolled out as part of its effort to improve the user experience for the products in its decentralized finance (DeFi) suite.
Essentially, Zap aims to make it faster and cheaper for users to switch from owning a single token on BNB or Polygon to using ApeSwap’s services. According to the blog post, the feature can be used in three different ways, which DEX plans to gradually roll out over the coming weeks.
Phase I: Single Token to LP
Zap’s initial implementation, launched on September 14, allows users to switch from a single token to a Liquidity Provider (LP) token via a single transaction. Previously, users had to get both tokens of any LP pair and then combine them to get an APE LP token representing the chosen LP pair.
The Single Token to LP Zap feature allows users to select an asset in their wallet and receive the LP pair.
According to the blog post, this functionality will be implemented in all of ApeSwap’s products, including ApeSwap DEX, BANANA Farms, Jungle Farms, BANANA Maximizers, and Treasury Bills.
Phase II: Single token to ApeSwap products
This next level of Zap functionality goes into effect on September 30th. It will allow users to select any asset on ApeSwap’s Treasury Bill page without purchasing the LP tokens required to purchase the specific bill.
The project intends to extend this functionality to its other products such as Staking Pools, BANANA and Jungle Farms, and BANANA Maximizers.
Phase III: Migrate LPs
The final tier of utility for Zap, rolling out on October 21st, will allow users to move LP tokens directly into the ApeSwap ecosystem from sources outside of ApeSwap.
What is ApeSwap:
ApeSwap is a leading DEX on BNB Chain that offers users the best trading experience. ApeSwap is a mix of decentralized exchange, yield farming, staking and an automated market maker (AMM). ApeSwap users are urged to participate in its liquidity pool offerings via yield farming to earn their native BANANA token. Additionally, these earned tokens can be used to wager and earn other tokens and unlock deluxe features.
For more information on ApeSwap, see the platform’s media links:
Website | Twitter | Medium | telegram
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