ApeSwap.Finance
Search…
Auto Compounding Burning Vaults
Our Auto Compounding Burning Vaults Are Here! πŸ”₯πŸŒπŸ€‘

What are Vaults? 🏦

Vaults are smart contracts that help automate the process of yield farming to help users maximize and optimize their strategies!
With ApeSwap auto compounding vaults, tokens staked will be used to generate farm profits, which will then be used to buy more staked tokens and grow the staked balance. Burning vaults take auto compounding vaults a step further πŸš€

Introducing Burning Vaults πŸ”₯🍌

Burning Vaults use a high percentage of farming profits to buy $BANANA and burn it! These will be implemented first for core BANANA pairs, then for all our Jungle partners that utilize ApeSwap LP tokens!
With burning vaults, 50% β€” 100% of the profits are used to buy $BANANA then sent straight to the fiery depths of the banana abyss. πŸ”₯
While we are opening up the burning vaults for anyone in the community to use, these will partially be funded with ApeSwap DEX fees. By using our DEX fees in these vaults, we are able to create an everlasting burn mechanism. The truest of true apes may also help stake in these vaults to give up some of their rewards in exchange for helping us burn more BANANA. ❀️
We want to take a moment to thank TakoDefi for helping us building the vaults UI, they will also be the first partner integrated for our burning vaults.
​

Burning Vault Proposal πŸ—³

On Aug 22, 2021, 7:00 PM - The ApeSwap community passed Governance Proposal 8 which allows us to use 10% of DEX trading fees for $BANANA burning vaults moving forward. For complete details, you can find the entire proposal here: Burning Vault Allocations. πŸ”₯
Since then, the ApeSwap team has been hard at work setting up the smart contracts and user interface to make this happen. We are fully committed to continually finding new ways to remove $BANANA from circulation through innovative DeFi burning techniques. This is the newest of those finds, and we couldn’t be more excited to make burning vaults a reality!
Last modified 11d ago