BSCDaily hosts ApeRocket: #Defi #ApeRocket #BSCDaily #BSC
BSC_Daily Admin: Hello and welcome, how are you today?
Abu: I am good thanks. Very excited about this AMA.
BSC_Daily Admin: Happy to hear! Ready to start our AMA?
Abu: Sure, let’s do it!
Q1: Could you please introduce your project and your team? Please share with us the background of the team behind this project.
Abu: I am Abu, I am in charge of the community management and the marketing of the project.
There are 4/5 people in our team, 4 of us are working full time on the project, and another one helps us when necessary.
We all have a technical background and have attended computer science school and worked for big companies. But with this project we wanted to create something of our own!
So today I will present you ApeRocket V2, the new version of our platform. We have been working on it for the past few months and we are very proud and happy about the result!
Q2: Could you please tell us more about the features of your platform?
Abu: So as you may know, our platform is designed to host different products which all work towards the same goat: optimizing the yields of its users.
Our main product is the Yield Aggregator which aggregates and compounds yields from other protocols. This allows you to save up time and money since you don’t have to do it yourself anymore!
We are supporting 3 protocols for the time being:
The other features are:
– Vaults: capital-efficient pools that automatically generate yields. The users deposit their assets inside the vaults and our system automatically compounds and aggregates everything regarding the best opportunities available on the market at that time.
– Lock: you can decide to lock your SPACE tokens (our Bsc token), and if you do so you will be able to earn rewards such as WBNB. Locking your space tokens will also allow you to take part in the Governance of the platform or even boost your earnings very soon!
– Zap: this is a great tool that made life of a lot of users easier. Basically, it allows you to convert your tokens and create LPs very easily without having the need to go on an exchange. It’s fast, smooth and very easy to use! Just swap the tokens you need and enter the vault you want!
Q3: Let’s dive into your token $SPACE. What are the use cases?
Abu: So have you know SPACE Is the main token of our ecosystem on the BSC. SPACE tokens are minted regarding the revenues generated by our platform. For each Bnb collected in performance fee we mint 100 SPACE tokens.
This system allows us to keep the price of the token relatively high since once BNB will go up (and it will most likely do over a certain period of time), it will become harder and harder to mint space tokens.
This will allow the token to auto-regulate its minting and give incentives to people to hold it. Also, with V2 we have introduced new features that incentivize long-term holders.
Among those features the Vesting Mechanism will fight against the market volatility and the whales farming and dumping after a short while.
The vesting mechanism works like this:
Each new SPACE minted is vested for 13 weeks and in return users get a receipt token called xSPACE corresponding to their amount locked/lock period.
During this time frame people won’t be able to dump space tokens and will have to use xSPACEs to farm and earn WBNB.
Those xSPACEs will also be used for the governance as explained above and we might add more use cases over time.
Q4: How do you keep the ecosystem going? What are Rocket Vaults? How does your fee structure work?
Abu: The system is alimented via the performance fees. After each compound (which happens at least once every 2 hours), 30% of your tokens/LPs earnings are taken and you get SPACEs in exchange.
Those fees are redistributed to SPACE holders that lock or vest their SPACEs. Those people get xSPACEs they can use to farm WBNB. We don’t take anything to ourselves, all the fees are redirected to the users and the SPACE tokens you get in exchange largely compensate it.
Vaults are pools where users can deposit their assets and enjoy the automatically generated yields. It saves times and money.
So we optimize your earnings and the fee taken is reused within the system to benefit SPACE holders. We want people to keep their SPACEs and use them to earn WBNBs.
We have a long-term vision and we want to rewards the true believers and the most patient supporters!
Q5: The lock feature sounds very innovative and interesting, could you please tell us more about it.
Abu: As I already explained, we truly care about the long-term holders and when we were thinking about redesigning our platform we really had them in our minds.
So, to sum it up, users can lock their SPACE tokens from 1 to 100 weeks and receive xSPACEs as a receipt based on their lock duration period and the amount locked.
The longer your lock the more xSPACEs you get and thus the more rewards you can farm. You get from 1 to 100% of your SPACEs in xSPACEs depending if you have chosen 1 week up to 100 weeks.
But why should you lock your tokens?
Locking your tokens will give you the possibility to take part in the governance system and vote on important topics, and most importantly generate you passive income in BNB.
In the future we are planning to create and develop more use cases that will help optimizing your yields.
Q6: As you know, security is often considered as the most important point. How could you ensure that ApeRocket is safe?
Abu: With the new version of ApeRocket we have introduced a few features to ensure our system is safe, especially safe from flash loans since they are very common nowadays among the yield optimization platforms.
Our features such as the block-lock one or the whitelisting one make sure we are protected against such attacks/exploits.
In addition we have been audited by 2 different companies: PeckShield and Mutative. We are constantly working with both of them in order to enhance the security of the platform.
Also, we will soon take part in ImmuneFI bugs bounty and will allow everyone here to help us and get rewarded for that!
Q7: Can you share your Roadmap?
Abu: So right now we are focused on producing educational content in order to raise awareness and educate our users so they can feel more confident and knowledgeable while navigating on the BSC or other blockchains and making decisions.
Additionally, we are currently exploring our partnership options, so maybe someday soon you will be able to present our new partner/partners and reach a wider audience.
Also, we are working on new pools, a lot of ApeSwap users asked for a GNANA pool, we are working towards that and hopefully it will happen anytime soon!
New protocols are on their way too, but it will take a bit of time! Of course this roadmap may change/vary over time but that’s what we are working on right now.
More tools will be implemented as well!
Q8: Where can we find out more about Ape Rocket on social media?
Abu: Here you go:
– Discord: https://discord.com/invite/NNFtB5n24s
– Twitter: https://twitter.com/ApeRocketFi
– TG: https://t.me/ApeRocket
– Medium: https://aperocket.medium.com/
BSC_Daily Admin: With this, we are now at the end of our AMA session with ApeRocket.
Time for wrapping up, any last words you would like to say to our community?
Abu: Thanks for joining us, we are very excited about this V2 and we are working on a lot of stuff in the background, we can’t wait to show you the new things once they are ready.
BSC_Daily Admin: Thank you so much for spending time with our community & all the very best for ApeRocket.