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ApeSwap will host DeFi yield farming aggregator ApeRocket Finance for its fourth Initial Ape Offering, a token offering on the ApeSwap platform. On May 20th at 3 AM UTC investors can purchase tokens with both BNB and the ApeSwap native GNANA token.
This fourth aptly named Initial Ape Offering (IAO) on the ApeSwap platform has an hour-long primary token offering, where users need BNB tokens to participate. They will sell 55,556 SPACE tokens at $9 per SPACE.
In addition, ApeSwap users can spend BANANA tokens to purchase Golden Banana (GNANA). These tokens can then be used to purchase SPACE. Both purchase opportunities for the ApeRocket Finance token happen at the same time, and only last one hour or until supply has sold out.
After the sale, ApeSwap will launch a BNB-SPACE yield farming pool where users can earn SPACE rewards. Starting from next week users can stake their GNANA to earn SPACE, followed by a regular BNB-SPACE farm for BANANA rewards in the first week of June.
Inspired by Pancake Bunny
ApeRocket Finance will offer a suite of DeFi products that provide different strategies for yield farming on BINANCE Smart Chain. At the core of ApeRocket are the liquidity pools using ApeSwap’s BANANA tokens.
The service will be somewhat similar to Pancake Bunny, which has a role in the growth of PancakeSwap. One of the services ApeRocket will provide is that it will automatically compound earned tokens to improve the user’s yield.
Over the past 30 days, ApeSwap has been one of the biggest DeFi platforms with more than 75,770 active user wallets and $2,1 billion in volume. However, PancakeSwap had 544,160 user wallets in the past 24 hours alone. There’s quite a bit of difference there.
In addition, Pancake Bunny is giving ApeSwap a run for their money too, with 123,360 active user wallets in the past 30 days. Seeing the success of these products, it makes sense to offer similar services. ApeRocket could launch ApeSwap to the moon after ApeSwap already grew its user base by 257% in the past month.
