Jungle Bills work like BANANA Bills, but instead of accessing BANANA tokens, users can access tokens from select partner projects within the ApeSwap ecosystem using liquidity provider (LP) tokens. ApeSwap created this sustainable liquidity mining product to allow our partner projects to raise additional funds for their treasury after the initial token offering or token generation event.
Jungle Bills provide great fundraising opportunities for projects with unsold tokens, tokens carved out for liquidity incentives, or other idle token balances.
After the successful launch of BANANA Bills, ApeSwap decided to extend the ability to create sustainability liquidity out to our partner projects. The core mechanics of the Treasury Bill product remain the same - users sell LPs to receive discounted tokens that vest over time. However, instead of receiving BANANA as the output token, users that purchase a Jungle Bill receive tokens that are provided by an external project that has partnered with ApeSwap to incentivize liquidity for a particular token pair (between the project's token and another token, typically BNB or BUSD).
The ApeSwap business development team worked with five of the Jungle's most dedicated partners to launch the first set of Jungle Bills in June 2022: CEEK, NFTY Labs, Telos Foundation, Mogul, and HotCross.
Polygon Bills work just like the Treasury Bills that ApeSwap has created on BNB Chain. Users spend their liquidity provider (LP) tokens, and in return, they receive a Treasury Bill NFT that represents partner tokens that vest over a certain time.
In September 2022, ApeSwap launched Polygon Bills with Dogira and TokenTraxx, allowing users to spend their LP tokens to receive $DOGIRA or $TRAXX (respectively) at a discount relative to current market prices.
In October 2022, ApeSwap launched Telos Bills that allow users to purchase a Treasury Bill NFT to receive $TLOS at a discount relative to current market prices. At launch, the LPs that a user can use to purchase Telos Bills include:
- USDC-TLOS LPs
- ETH-TLOS LPs
- USDT-TLOS LPs
- BTC-TLOS LPs
- BANANA-TLOS LPs
To buy a Jungle Bill, a user must first create an LP token by adding liquidity to the DEX for the trading pair that corresponds to that type of Jungle Bill. For example, NFTY-BNB LP tokens are used to purchase NFTY-BNB Treasury Bills, which yield NFTY tokens.
From there, visit the Treasury Bills page on ApeSwap, then select the Jungle Bill you would like to purchase.