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ApeSwap Finance (BANANA) is the 1478th largest cryptocurrency in the world by market cap, valued at $12,976,773. The current price of ApeSwap Finance is $0.053806, which is -6.290% lower than yesterday. Prices have ranged between $0.058551 and $0.056856 over the past 24 hours. All prices are listed in US dollars and accurate as of March 27, 2023 07:03 UTC.
ApeSwap Finance is a new decentralized exchange (DEX) built on the Binance Smart Chain. The DEX implements an automated market maker and user-supplied liquidity pools to facilitate cryptocurrency exchanges without the need for an intermediary.
According to the project’s documentation, in addition to non-custodial cryptocurrency exchanges, the protocol allows users access to an array of financial products that include borrowing, lending, insurance, staking, and financial instruments that include derivatives. The team has also created a native Initial Ape Offering (IAO) module, which operates in the same way as an Initial Coin Offering (ICO). An ApeSwap Finance IAO allows users to fund new projects that they are interested in and allows decentralized application developers to raise capital.
The project’s native token is called BANANA and is used to pay for all transactions within the ecosystem. The token is also offered as a reward for providing liquidity to some of the DeFi products offered on the DEX. Alongside BANANA, the ApeSwap Finance team also launched Golden Bananas or GNANAS. While BANANA fulfils utility, GNANAS are the native governance token of ApeSwap Finance and must be held if a user wants to vote and participate in the network. GNANAS can only be minted by burning the BANANA utility token.
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