Chain: BNB Chain (BEP-20)
BANANA is the primary native utility token of the ApeSwap ecosystem. BANANA serves several functions for the protocol, including staking in BANANA pools to earn rewards, rewarding users for adding liquidity to the ApeSwap platform, and incentivizing markets on the ApeSwap Lending Network.
In order to control return-on-emissions for the protocol, ApeSwap burns BANANA tokens every Thursday, removing them from circulation and reducing inflationary pressure. For more information on how ApeSwap manages the supply of BANANA, visit the Burn Mechanics page.
Users can purchase BANANA using BNB Chain, Polygon, Ethereum, Telos, or Arbitrum tokens on the Swap tab of the Exchange page.
Users can also earn BANANA by adding liquidity to the ApeSwap DEX on the Liquidity tab of the Exchange page, then staking their liquidity provider (LP) tokens in one of our Yield Farms or our BANANA Maximizers. Or, they can lend/borrow crypto assets on our Lending Network to earn BANANA rewards.
As our primary utility token, BANANA can be used in several ways:
3) Add liquidity on the Liquidity tab of the Exchange page by pairing BANANA with other tokens to create liquidity provider tokens (APE-LP tokens) that earn trading fees and can be staked in Yield Farms or BANANA Maximizers to create passive income
6) Borrow against your BANANA on our Lending Network to unlock liquidity without having to sell BANANA