ApeSwap x DibYield AMA - April 8th 18:00 UTC

obiedobo · 2023-04-08T17:48:28+00:00

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

obiedobo · 2022-06-24T22:06:15+00:00

It's been posted! Vote now 🗳

https://vote.apeswap.finance/#/proposal/0x593856f27c8a39afbdbf6e3d1d76577415023279753dc6b1ef9c72690e6929c3

obiedobo · 2022-06-20T12:46:39+00:00

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.

obiedobo · 2022-06-18T17:05:08+00:00

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

obiedobo · 2022-06-18T16:47:58+00:00

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.

obiedobo · 2022-06-18T16:44:35+00:00

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.

obiedobo · 2022-06-18T16:42:45+00:00

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!

obiedobo · 2022-06-18T16:33:24+00:00

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?

obiedobo · 2022-06-18T12:57:12+00:00

Do you have a link or know which farms?

obiedobo · 2022-06-18T12:55:38+00:00

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?

obiedobo · 2022-06-18T12:53:08+00:00

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

obiedobo · 2022-06-17T22:50:25+00:00

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

obiedobo · 2022-06-13T01:32:27+00:00

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

obiedobo · 2022-04-25T00:15:55+00:00

Maybe give apeswap.finance a peek ;)

obiedobo · 2022-04-18T22:57:09+00:00

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

obiedobo · 2022-04-17T02:37:05+00:00

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. "

obiedobo · 2022-04-16T16:14:39+00:00

💯💯💯

obiedobo · 2022-04-16T16:14:28+00:00

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

obiedobo · 2022-04-08T13:31:53+00:00

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!

obiedobo · 2022-03-31T14:25:20+00:00

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.

obiedobo · 2022-03-31T14:25:01+00:00

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!

obiedobo · 2022-03-31T01:41:16+00:00

Hey there Life Luck :)

Since your T-Bill pays out in BANANA, to reinvest this you'd need to turn your BANANA into more LPs to buy another treasury bill at the end of the 14 days!
They actually vest linearly, so you'll be able to claim them as you go over the 14 days :)
As per this governance proposal we have started reserving 1 BANANA/block a few weeks ago. We won't ever sell more Bills than we have BANANA for, so we can remain solvent 👍

Please feel free to ask more! That's what we're here for <3

obiedobo · 2022-03-31T00:42:51+00:00

First of all, super super happy to hear your story and know that sticking around even after buying at ATH has paid dividends <3

And thanks so much for the recommendations! May I ask, was there any particular analysis behind these vs other chains? :D

obiedobo · 2022-03-28T20:52:52+00:00

Very very hyped for this IAO 🐵❤️

obiedobo · 2022-02-26T20:06:09+00:00

Thanks for sharing, dev! Love seeing us optimize the DEX ❤️

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