ApeSwap is pleased to announce that it continues to innovate with an introduction to a new layer of the blockchain ecosystem: Arbitrum.
Decision awaits ApeSwap
ApeSwap has announced the launch of its DeFi products on Arbitrum, the Ethereum scaling solution.
This move, exclusively shared with BSC News, marks ApeSwap’s expansion into a new layer of the blockchain ecosystem, complementing its existing multi-chain DEX offerings on BNB Chain, Polygon, Ethereum and Telos.
The move is highly anticipated for the ApeSwap team.
The launch of ApeSwap on Arbitrum will provide users with access to its primary product offering, the multi-chain DEX, which enables permissionless trading of cryptocurrency assets via smart contracts. Users can swap tokens on BNB Chain, Polygon, Ethereum, Telos and now Arbitrum on ApeSwap DEX.
Additionally, users can add liquidity to the DEX to receive liquidity provider tokens in the form of APE-LPs. APE-LP holders receive a portion of the trading fees paid by users who trade the two tokens that make up the APE-LP. The ApeSwap DEX also features a smart router that routes a token swap through external liquidity sources as needed to ensure the user does not have to switch between DEX services to complete their swaps.
Along with the DEX, ApeSwap will also launch its Treasury Bills product on Arbitrum. This offering allows crypto projects to create sustained liquidity, allowing users to sell LP tokens to buy an NFT, which represents a certain amount of project tokens at a discounted price. The tokens are transferred over a period of time determined by the project selling the bill.
Why decision?
Arbitrum is a suite of technologies designed to scale Ethereum, allowing users to deploy smart contracts, use Web3 applications and conduct faster and cheaper transactions. ApeSwap will leverage the platform’s flagship product, Arbitrum Rollup, an optimistic rollup protocol that inherits Ethereum-level security.
By using ETH as an asset for gas to facilitate transactions on the network, Arbitrum enables ApeSwap to reduce transaction fees and improve transaction speeds while providing access to a new user base.
The launch of ApeSwap on Arbitrum will be phased, with DEX and Treasury Bills going live on March 14th. ApeSwap’s ONYX project will launch on the same day with APE LPs on Arbitrum. Multichain will enable bridging from BANANA to Arbitrum, and ONYX Treasury Bills will go live on Arbitrum on March 22nd.
To use Arbitrum with ApeSwap, users need to connect their wallet to the network available through the official Arbitrum bridge or Multichain. Users can also buy ETH directly on Arbiturm with fiat using MoonPay, ApeSwap’s on-ramp partner.
This expansion is part of ApeSwap’s strategy to provide innovative DeFi solutions to its community of users and partner projects. ApeSwap will continue to explore new technologies and expand its multi-chain ecosystem to bring value to users.
What is ApeSwap:
ApeSwap is a leading decentralized exchange on BNB Chain, Binance’s DeFi arm. ApeSwap is a mix of DEX, yield farming, staking and an automated market maker (AMM).
ApeSwap users can leverage liquidity pool offerings via yield farming to earn BANANA tokens. BANANA allows you to wager and earn other tokens and unlock deluxe features.
Where to find ApeSwap:
Website | Twitter | Medium | telegram
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