[PRESS RELEASE – Grand Cayman, Cayman Islands, October 10th, 2023]
Three years ago, a dedicated team, fondly referred to as “Apes”, founded ApeSwap. Today, they are excited to unveil the next development in DAO’s DeFi path: the rebranding of ApeBond.
This major milestone marks the beginning of a new era, including a complete rebrand, a revamped product, and the launch of a new token. Starting October 12, if approved by Governance, every monkey will be able to start migrating BANANA and GNANA to the new ApeBond token: Abund.
The Monkeys are confident that this historic day is the beginning of a new chapter for the project, ensuring exciting opportunities ahead and boasting a much-needed fresh look.
The new trademark
ApeSwap was initially inspired by PancakeSwap, and since its inception has focused on being primarily a DEX platform. However, after launching the bonds in early 2022, the DAO’s trend has gradually shifted towards the latter, a model that aligns better with their vision of a sustainable future.
While the ApeSwap brand holds a special place for all Apes, the new brand represents a sophisticated evolution from its predecessor, exuding a contemporary, polished and streamlined look. Yet the essence remains unchanged: they are monkeys, and always will be.
In the same vein, the ApeBond team is made up of the same apes users already know, but restructured for optimal efficiency and with one common goal: Transforming ApeBond into the largest DeFi bonding protocol ever.
The new branding is now visible across all ApeBond communication channels. As users have noticed, 3D elements have begun to be incorporated during the teaser campaign. Vigilant community members may have discovered these Easter eggs.
Furthermore, the new Ape.Bond website, which matches the look and feel of the new brand image, is scheduled to launch in the coming weeks.
Along with the rebranding, and post-government approval, users will be able to migrate their BANANA tokens to the new ABOND token via special immigration bonds. This migration will allow tokens to be replenished, reduce circulating supply, and increase the fully diluted valuation, paving the way for explosive growth.
“ABOND Migration represents a new chapter for the organisation, with a whole new set of opportunities for its users and partners.” ApeGuru — Product Lead
The proposed migration has a two-month window, during which users will be able to secure their bananas as soon as October 12, at 13:00 UTC. Additionally, Migration Bonds will offer a double and lock-in reward allocation for users who decide to vest their tokens over a longer period of time.
Unlock unprecedented utilities with $ABOND.
Users can embark on a transformative journey with the new ABOND token, which is not only a symbol of evolution, but a key to unlocking exclusive facilities on the ApeBond platform. The ABOND integration will bring token holders intertwined with the platform like never before. While the exact utilities will be fully revealed before the release of the first ABOND in early December, additional improvements are scheduled to revamp the users’ experience to take the protocol to new heights.
ApeBond is set to exceed expectations
The monkeys understand the curiosity and excitement surrounding ABOND’s new facilities. They are absolutely excited to unveil them to their dear community. The upcoming unveiling will not only meet users’ expectations, but aim to exceed them, providing them with more ways to engage, invest and grow within the ApeBond ecosystem.
To ensure timely updates and not miss important revelations, interested parties are encouraged to subscribe to the newsletter, and join the ApeBond community at cableand follow ApeBond on Twitter. This will ensure that users are among the first to know about the unique utilities that ABOND brings to the ApeBond platform.
Image: Final numbers may vary depending on the quantity of bananas/gananas minted.
To get a deeper understanding of the ABOND distribution, here is a comprehensive breakdown of the tokens:
- Immigration (39.1%): Wanted for immigration. Matches the amount of locked bananas one-to-one.
- Ecosystem Fund (15%): An alternative to the current MasterApe, intended to allocate ABOND towards protocol growth (e.g., bonds).
- Double buffer (14.9%): The amount required to ensure everyone’s ability to immigrate without diluting it.
- Fundraising (10%):Dedicated to collecting donations.
- Treasury (10%)To cover marketing and recurring operations expenses.
- Team (5%):Dedicated to ApeBond development. He has a 3-year written maturity.
- Bonus Package (5%): Additional rewards for those who choose to lock their bananas for a longer period during the migration process.
- Initial liquidity (1%): Required to provide liquidity pools for the newly migrated token.
The governance vote will take place on October 11 until 23:00 UTC. If approved, starting October 12, 13:00 UTC, users will be able to lock $BANANA and $GNANA to move to $ABOND through the new program. Immigration Bonds Page.
The Migration Bonds will begin to vest in writing on 12 December 2023, at 13:00 UTC, giving all BANANA and $GNANA holders a 61-day rollover period. Users who do not complete the migration within this time frame will lose their ABOND allocation.
Immigration Bond Considerations
- Boost multiplier: Migration Bonds will offer a payment of up to an additional 55% ABOND for users who choose a longer maturity term, which helps offset the dilution.
- Lock bonus: Users will receive an additional lock-in bonus for each vesting period. This bonus is determined by the percentage of symbols you lock compared to the overall total for the specified period.
- $Jnana: As an important note, each $GNANA migrated will be valued at 1.43 BANANA to account for the burn mechanics.
There will be 4 different Migration Bonds available with the following maturity conditions, boost multiplier, and lock-in bonus:
In order to migrate, users will need to visit Immigration page Follow the three simple steps below:
- Enter the amount $BANANA or $GNANA – Remember that 1 Ghanaian dollar = 1.43 bananas.
- Specify the maturity period — The more the lock user selects, the greater the multiplier and lock bonus allocation.
- Approval of immigration and immigration bond contract! — User’s ABOND allotment will begin accruing on December 12.
The migration timeline can be seen below:
ApeSwap’s new chapter: the culmination of vision and community unity
The proposed rebranding and token migration is not just a technical process; It is a testament to the strength and unity of the ApeSwap community. It marks a new beginning, as the monkeys invite all their old and new friends to join them.
Having been in the DeFi space for some time, ApeBond’s new branding and token will better reflect ApeSwap’s evolving vision, mission, values, and goals.
Every step ApeSwap has taken so far has been made possible by the unwavering support of their community, the trust of their partners, and the collective passion for the DeFi scene. United, all monkeys will forge a path toward a brighter and more sustainable future in DeFi.
About Abby Swap
ApeSwap is a decentralized finance platform that offers a full suite of tools to explore and engage with the future of wealth building. With products ranging from a decentralized exchange, a correlation protocol, and the new Liquidity Health dashboard, ApeSwap is empowering users to access DeFi in a secure, transparent, and globally accessible way.
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