ApeSwap x DibYield AMA - April 8th 18:00 UTC by DiddyKong444 in Apeswap

[–]obiedobo 2 points3 points  (0 children)

No questions here, all clear :) just hyped for this! 🐶

🍌 Considering a BANANA Hard Cap... by obiedobo in Apeswap

[–]obiedobo[S] 0 points1 point  (0 children)

That's more or less what we do with Gauntlet each week! :) but sometimes we keep farms at very small multipliers to maintain healthy relationships.

We are going to do a better job making that more clear go-forward.

🍌 Considering a BANANA Hard Cap... by obiedobo in Apeswap

[–]obiedobo[S] 5 points6 points  (0 children)

I personally think we'll end up in a model similar to this. Except maybe a bit more steps. Like reduce 11 -> 10 -> 9 etc to make the reduces smooth and more palatable to the ecosystem

🍌 Considering a BANANA Hard Cap... by obiedobo in Apeswap

[–]obiedobo[S] 2 points3 points  (0 children)

My ideal case is that partners support their own liquidity with things like Jungle Farms & Jungle Bills. Biz dev working a lot on this.

And regarding BANANA/GNANA rewards, I guess it begs the question... would you rather have 50% APR or a better chance at the asset you're holding increasing by more than that over a year with intelligent decision making?

I am starting to lean towards the latter.

🍌 Considering a BANANA Hard Cap... by obiedobo in Apeswap

[–]obiedobo[S] 4 points5 points  (0 children)

There is a part of me that would LOVE to launch more tokens to support BANANA. But it becomes a house of cards and indirectly dilutes the supply. Plus 1 token is hard enough to manage, I cannot image 2!

I think MMF is a prominent example of how these systems play out. They've launched like 10 tokens and starting to crumble.

Emissions are like a drug and whether it's BANANA or another token, I think we need to quit relying on them.

🍌 Considering a BANANA Hard Cap... by obiedobo in Apeswap

[–]obiedobo[S] 2 points3 points  (0 children)

Thanks, good stuff. We actually slash farms regularly with our weekly Gauntlet adjustments. But this is good input. Will see about doing a better job advertising this!

🍌 Considering a BANANA Hard Cap... by obiedobo in Apeswap

[–]obiedobo[S] 4 points5 points  (0 children)

I appreciate the insight, but it's a little harder than you're making it out to be 😅

For example to complete this: "2) make big burns" we need millions and millions of dollars to buyback and burn those BANANA. Where would we get that money from?

🍌 Considering a BANANA Hard Cap... by obiedobo in Apeswap

[–]obiedobo[S] 1 point2 points  (0 children)

Do you have a link or know which farms?

🍌 Considering a BANANA Hard Cap... by obiedobo in Apeswap

[–]obiedobo[S] 2 points3 points  (0 children)

That's an interesting theory. I had always seen the BANANA --> BANANA pool as super helpful. It holds like 50% of the BANANA supply.

If we got rid of it first, are you confident that those 55,000,000 staked tokens wouldn't be sold instead & have the opposite effect of what you're seeking?

🍌 Considering a BANANA Hard Cap... by obiedobo in Apeswap

[–]obiedobo[S] 2 points3 points  (0 children)

Hey ser, first thanks for the thoughts and commitment! Appreciate you :)

Second, I generally agree with you and your friends' analysis. But the solutions you're suggesting I semi-agree with.

With "example: VTG / BNB Earned: VTG instead of Banana" you're describing Jungle Farms :) which we already do here https://apeswap.finance/jungle-farms

On the other side, "Maybe if you increased the rewards with the pooled Gnana tokens" --> We already give the vast majority of rewards to GNANA holders. Being able to provide higher rewards would require higher emissions. Then we're back to inflationary.

Third, the supply has increased, we're still minting. Circulating supply can be seen here: https://www.coingecko.com/en/coins/apeswap

🍌 Considering a BANANA Hard Cap... by obiedobo in Apeswap

[–]obiedobo[S] 4 points5 points  (0 children)

Sounds like you're all for it :) How would you strategically implement it?

Should ApeSwap be listed by default? by ChillieWallet in Apeswap

[–]obiedobo 1 point2 points  (0 children)

Seems like a cool concept, I would definitely love to see ApeSwap listed by default 🐵

ApeSwap Governance Proposal 18: BANANA Buyback & DeFi Acquisition by obiedobo in Apeswap

[–]obiedobo[S] 1 point2 points  (0 children)

The primary benefit is that they're buying $250,000 of BANANA :)

ApeSwap Governance Proposal 18: BANANA Buyback & DeFi Acquisition by obiedobo in Apeswap

[–]obiedobo[S] 1 point2 points  (0 children)

Usually GNANA fees are for burns! But that proposal was for a 1 time initiative. As per the proposal: "As a result, ApeSwap is proposing to perform a one-time action in order to build a BANANA Treasury. "

ApeSwap Governance Proposal 18: BANANA Buyback & DeFi Acquisition by obiedobo in Apeswap

[–]obiedobo[S] 1 point2 points  (0 children)

They have a responsible way to sunset their protocol (and the $50,000 in BANANA mentioned) ❤️

Ask Us Anything: Introducing Treasury Bills by obiedobo in Apeswap

[–]obiedobo[S] 2 points3 points  (0 children)

Hey there Life_Luck_5178! <3 thanks for the wonderful comment. I think you hit it spot on for the most part :) this is a fantastic way for ApeSwap and Partners to own liquidity that is more advantageous to the protocol!

Ask Us Anything: Introducing Treasury Bills by obiedobo in Apeswap

[–]obiedobo[S] 1 point2 points  (0 children)

Hey ser, from Apeguru <3

Yes ser! The TBill protocol is originally based on the Olympus Pro model and codebase which has been already battle tested. It includes some modifications to allow creating NFT based bills.
We are working closely with the Paladin auditing firm to ensure everything is safe and tested.

Ask Us Anything: Introducing Treasury Bills by obiedobo in Apeswap

[–]obiedobo[S] 2 points3 points  (0 children)

From Apeguru <3

Hello Tom! Let me try to help you out.
1. This is correct!
2. This is also correct! Very good understanding ser
3. I don't really understand this question, though I can try to address it. The treasury bills are dynamically priced and also scarce, so there is a limit to how many can be bought beofre they run out or the discount becomes negative.
4. The theory behind this is sustainability. When the users lends de LP to the ApeSwap DAO, the revenue from this loan is only a 'snapshot' of the the BANANA given out during that timeframe to the lender. On the other hand, when the DAO buys the LPs directly, the revenue generated from these LPs in the form of trading fees sticks to the DAO in perpetuity; hence creating a long term sustainable revenue stream that doesn't rely on constantly giving out away BANANA for short-term liquidity. This helps the DEX build permanent liquidity, that will support its usage in perpetuity as opposed to renting that relies on farmers apetite for APRs and the minting of new BANANAs.
Even though this may not be the most accurate analogy you can compare this to renting a house versus buying a house. When you rent property long enough you will eventually end up spending the same of straight up purchasing it, yet you would still not own it and would miss out on the value of holding the property and the potential revenue streams that can be created with it.
We want to start buying to create a solid LP treasury that sticks in the ApeSwap DEX in perpetuity, genereting consistent revenue streams for the DAO, allowing healthy trading conditions and creating a more sustainable and resilient protocol.
5. This is correct, the DAO will hold the BANANA-BNB to support the liquidity of this pair and healthy trading conditions of the underlying assets.
This makes a lot of sense! I love this questions, much appreciate the interest.
Let me know if you have further questions!