Apeswap is a decentralized exchange (DEX) built on the Binance Smart Chain (BSC). Launched in 2021, it allows users to swap, trade, and provide liquidity for BSC-based tokens. It was founded by a group of developers and community members known as the ApeSwap Finance Team. The platform derives its name from the popular internet meme of apes, which represents a community-driven and meme-obsessed ethos. Apeswap has gained popularity for its user-friendly interface and high-yield farming opportunities.
Apeswap offers several benefits to its users compared to its direct competitors. Firstly, Apeswap is built on the Binance Smart Chain (BSC), which allows for faster transaction times and lower fees compared to other blockchain networks like Ethereum. This means that users can trade and interact with DeFi protocols on Apeswap more efficiently and at a lower cost.
Another benefit of using Apeswap is its user-friendly interface. The platform is designed to be intuitive and easy to navigate, making it more accessible to both experienced and novice users. Apeswap also offers a wide range of DeFi features, including token swaps, liquidity mining, and yield farming, providing users with diverse options to maximize their earnings.
Compared to its direct competitors, such as PancakeSwap and BakerySwap, Apeswap stands out with its unique features. For example, Apeswap has implemented a burn mechanism where a portion of the transaction fees is used to buyback and burn their native token, called Banana (BANANA). This helps to reduce the supply of BANANA over time and potentially increase its value.
Additionally, Apeswap has a strong and active community, fostering engagement and collaboration among its users. The platform regularly hosts events, promotions, and partnerships, providing opportunities for users to earn rewards and participate in the growth of the ecosystem.
In summary, Apeswap offers benefits such as faster transactions, lower fees, a user-friendly interface, a range of DeFi features, a token burn mechanism, and a vibrant community. These advantages position Apeswap as a competitive option in the DeFi space.
Apeswap is a decentralized exchange (DEX) built on the Binance Smart Chain (BSC), a blockchain that offers fast and inexpensive transactions. The underlying technology behind Apeswap is focused on providing users with a seamless and secure platform to trade digital assets.
As a DEX, Apeswap operates through automated smart contracts, eliminating the need for intermediaries. These smart contracts execute the transactions, handle liquidity provision, and ensure that trades are executed fairly and transparently.
One of the key features of Apeswap is its integration with yield farming. Users can provide liquidity to various pools by staking their tokens, which in turn earns them rewards in the form of additional tokens. This incentivizes users to contribute to the liquidity of the platform and helps maintain a healthy trading ecosystem.
Apeswap also incorporates tokenomics by introducing its native token, called Banana Token (BANANA). Holders of BANANA tokens can enjoy additional benefits, such as reduced fees and access to exclusive features. This encourages participation and engagement within the Apeswap community.
Transactions on Apeswap are conducted directly from users' wallets, ensuring that they have full control over their funds. This enhances security and reduces the risk of centralized hacks or fraud.
In summary, Apeswap is a decentralized exchange built on the Binance Smart Chain. It leverages smart contracts to facilitate transparent and secure trading. With its integration of yield farming and tokenomics, Apeswap provides users with an engaging experience while allowing them to maintain control over their assets.
DIA employs a comprehensive approach to fetching trade data from various crypto exchanges, including both centralized and decentralized platforms. The process differs depending on the type of exchange we are referring to.
For centralized exchanges like Coinbase, Kraken, and Binance, DIA utilizes scrapers that directly collect trade data from the exchange databases. This is achieved by leveraging either Rest APIs or WebSocket APIs. These APIs allow DIA to access real-time or near real-time trade data. The frequency of data collection varies based on the exchange, ranging from 1 to 7 seconds. By retrieving data as close to the source as possible, DIA ensures high precision and up-to-date information for their price feeds.
In contrast, for decentralized exchanges (DEXs), DIA fetches trade data directly from the blockchain itself. They achieve this by subscribing to swap events in liquidity pools on various blockchains. This approach enhances data accuracy as it eliminates the reliance on unreliable bid and offer data. Examples of DEX sources include popular platforms like Uniswap, curve.finance, and PancakeSwap.
When it comes to NFT marketplaces, DIA captures live trading data by retrieving information from integrated marketplace smart contracts. The retrieval period for NFT transactions ranges from 20 seconds to 1 minute, ensuring real-time coverage of all NFT transactions. Notable NFT integrated exchange sources include platforms like Blur, X2Y2, OpenSea, and TofuNFT.
By combining these different approaches, DIA is able to curate highly accurate and customizable price feeds for their users. Through their extensive data management strategy, DIA ensures the availability of granular trade data from a wide range of exchanges, enabling developers and users to access reliable and up-to-date information.
DIA uses a two-step process to compute trade data from Apeswap and build price feed oracles. The specific process varies depending on whether we are referring to a decentralized finance (DeFi) or non-fungible token (NFT) exchange.
For DeFi exchanges like Apeswap, the first step is data cleaning and outlier detection. This involves removing trades with prices that deviate significantly from the market price. The purpose is to avoid using data that is not representative of the true market value. DIA applies an interquartile range (IR) filter, which identifies and excludes data points or sets that lie outside an acceptable range relative to the interquartile range.
In the second step, DIA applies price determination methodologies to calculate the final price from the remaining data points. For example, they may use the Volume Weighted Average Price (VWAP) methodology, which takes into account different trade volumes. Trades from the queried time range are weighted by their volume, and the average price is calculated based on the volume-weighted sum of all trades.
For NFT exchanges, such as when computing floor prices, DIA follows a different process. First, the on-chain trade data is processed through cleansing filters to exclude market outliers and manipulation techniques. Then, a pricing methodology is applied to determine the final price point.
The simplest methodology for NFT collections is the Floor Price, which provides the lowest sale price recorded on the blockchain during a given time window. However, this methodology can be manipulated by malicious actors, so DIA offers more advanced methodologies, such as the Moving Average of Floor Price. This methodology calculates the moving average of a collection's floor price, taking into account customizable parameters like the length of the average or the size of the floor window.
Overall, DIA's process involves cleaning and filtering trade data to ensure accuracy and then applying specific methodologies to compute price feed oracles for both DeFi and NFT exchanges.
Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.