ApeSwap Governance Round IV
This round of governance votes is intended to catapult ApeSwap into DeFi 2.0 & better utilize our emissions. Details below!
A Quick Refresher On How it Works 🗳
ApeSwap Governance is a platform designed to give the community insight and input into the most impactful decisions concerning ApeSwap. To distribute voting power ApeSwap uses software to take a “snapshot” at a certain block. This snapshot dictates the voting power of each wallet, where 1 GNANA = 1 vote.
Here are some key points to remember about the governance process:
- You can vote and review proposals at Vote.ApeSwap.Finance.
- You MUST have your GNANA in your wallet during the “Snapshot Block” for you to utilize voting power with those GNANA. If the GNANA is not in your wallet during the Snapshot Block, you do not have voting power for that GNANA. NOTE: If you have staked any GNANA into pools at the time of the snapshot, those GNANA will not be counted as eligible towards votes during the round of governance.
- Due to block time inconsistencies in BSC, sometimes we cannot predict the exact time a block will occur, so the snapshot will be reasonably close to the predicted time, if not the exact time listed below.
The Governance Snapshot for Round IV is set for January 18th at 22:00 UTC!
Introducing Governance Proposals 15 & 16 🐵
Below is a TL;DR of the two upcoming ApeSwap governance proposals. If you’d like to read more about any given proposal, they will be live on the ApeSwap Governance Platform at the time of snapshot.
Proposal 15: Distribute 1 BANANA per Block to ApeSwap Lending Network
Currently, ApeSwap is providing 0.1 BANANA per Binance Smart Chain block via a specialized farm to incentivize the ApeSwap Lending Network. This proposal intends to further integrate & support ApeSwap’s current lending service (powered by Ola.Finance) into the ApeSwap ecosystem.
Namely, the proposal formally endorses the process to begin collecting 1 BANANA per block to be distributed to ApeSwap’s Lending Network. As a result of the additional incentive allocation, more fees would be generated from the ApeSwap Lending Network.
These fees would be used as follows:
- 90% to buy back BANANA on the open market
- 10% stored in the ApeSwap Treasury
Of the 90% portion of BANANA bought back:
- 30% will be burned (27% of total)
- 55% will be locked in the supply side of the lending network (49.5% of total)
- 15% will be used to compensate Ola (13.5% of total)
Proposal 16: Begin Reserving 1 BANANA per Block for Bonds
This proposal is intended to begin reserving 1 BANANA per Binance Smart Chain block to be utilized for ApeSwap’s upcoming Bonding offering. Specifically, the motive behind this is to acquire more Protocol Owned Liquidity to be used in perpetuity on ApeSwap’s Automated Market Maker.
The BANANA accumulated via this governance proposal will not be used immediately. Instead, ApeSwap will accumulate it in a Bonding Treasury to maintain sufficient funds to release the bonding product. This release is expected in Q1 2022.
When the offering is available, the BANANA will be used to sell bonds via an Olympus Pro-style bonding curve. The initial bonding types will be as follows:
- BANANA-BNB LP Tokens
- Bluechip LP Tokens (BTC, ETH, etc.)
- Stablecoin LP Tokens