The new Zap functionality will let users access ApeSwap products just by holding any single token on BNB Chain or Polygon.
Meet ApeSwap’s Zap
ApeSwap, a prominent Decentralized Exchange (DEX) on BNB Chain, announced the launch of “Zap” functionality on Sept. 13. According to ApeSwap, the new feature was launched as part of its effort toward bettering the user experience for the products in its Decentralized Finance (DeFi) suite.
Essentially, Zap is intended to make it faster and cheaper for users to go from holding any 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 the DEX intends to roll out in stages in the coming weeks.
Stage I: Single Token to LP
The first implementation of Zap, launched on Sept. 14, allows users to switch from a single token to a liquidity provider (LP) token via a single transaction. Before this, users had to obtain both tokens of whatever LP pair they needed, then combine them to receive an APE-LP token that represented the chosen LP pair.
With the single-token-to-LP Zap functionality, users can allow select an asset in their wallet and receive the LP pair.
According to the blog post, this functionality will be implemented across ApeSwap’s products, including ApeSwap DEX, BANANA Farms, Jungle Farms, BANANA Maximizers, and Treasury Bills.
Stage II: Single Token to ApeSwap Products
This next stage of the Zap functionality will become effective from Sept. 30. It will allow users to select any chosen asset from ApeSwap’s Treasury Bill page without acquiring the LP tokens needed to purchase the particular Bill.
The project intends to extend this functionality to its other products, such as Staking Pools, BANANA and Jungle Farms, and BANANA Maximizers.
Stage III: Migrate LPs
The final stage of utility for Zap, to be rolled out on Oct. 21, will let users move LP tokens directly from sources outside ApeSwap into the ApeSwap ecosystem.
What Is ApeSwap:
ApeSwap is a leading DEX on BNB Chain, which offers users the best trading experience. ApeSwap is a blend of a decentralized exchange, yield farming, staking, and an automated market maker (AMM). ApeSwap users are urged to partake in its liquidity pool offerings via yield farming to earn its native BANANA token. What’s more, these earned tokens can be used to stake and earn other tokens and unlock deluxe features.
For more information about ApeSwap, visit the platform’s media links:
Website | Twitter | Medium | Telegram
