Introducing Jungle Bills: Driving Long-Term Value Alongside Partners
The success of ApeSwap’s Treasury Bills — the utility-driven, yield-bearing NFT product– took the decentralized finance world by storm. Throughout the initial product launch, our protocol proved to the community there was not only long-term value by combining art with a simple agreement for future tokens (SAFT), but that communities want the opportunity to support their favorite projects through project owned liquidity.
To give our community more options to put their tokens to use and support new projects, we’ve extended this opportunity to our partners. On June 16, 2022 at 1800 UTC, ApeSwap will begin offering Jungle Bills: a robust and sustainable product offering yield for buyers and sustainable liquidity for partners.
Launching Jungle Bills with Five Partners
Like BANANA-yielding Treasury Bills, Jungle Bills offer a time-locked value for the community as a whole. We are launching with five top-tier partners, offering both stability and growth for buyers. Our first partners are:
NFTY Labs
Liquidity Pool Token: NFTY-BNB
Vesting Period: 14 days
Telos Foundation
Liquidity Pool Token: TLOS-BUSD
Vesting Period: 90 days
Mogul
Liquidity Pool Token: STARS-BNB
Vesting Period: 90 days
HotCross
Liquidity Pool Token: HOTCROSS-BUSD
Vesting Period: 30 and 90 day options available
CEEK
Liquidity Pool Token: CEEK-BNB
Vesting Period: 14 days
To purchase a Jungle Bill, users will need to create a liquidity provider token (APE-LP) on our protocol by combining the partner token with either BNB or BUSD tokens. Once users buy their jungle bill with the liquidity provider token, they will receive a Jungle Bill NFT, along with partner tokens distributed over the vesting period.
The NFT art will be similar to the Treasury Bills NFTs designed by the talented iliana.ink, featuring key legends, locations, and moments in cryptocurrency, but featuring the partner tokens instead.
Why ApeSwap is Launching Jungle Bills Now
Launching the Jungle Bills product comes at a critical time for our protocol, our partners, and for our industry as a whole. For members of the ApeSwap community, Jungle Bills provides an opportunity to purchase tokens from well-known and well-trusted partners at a discount. Additionally, projects assume the risk of impermanent loss, incentivizing the protocol to align incentives with their user base.
For partners, launching a Jungle Bill creates a sustainable fundraising opportunity going beyond liquidity mining and renting liquidity options. Launching their own yield-bearing NFT gives partners access to project-owned liquidity at a higher value than other methods.
Protecting the value of the BANANA utility token is important, which is why we are not using any BANANA to build liquidity and support for the Jungle Bills. This creates a win for everyone: with no BANANA tokens at risk, our goal is to preserve our token price and ensure strong tokenomics for years to come.
What is the Future of Jungle Bills?
Just as BANANA-yielding Treasury Bills provided proof that giving the community token ownership as a discount provided a sustainable positive growth opportunity, we’re excited to launch Jungle Bills to prove this model can also work for our partners. As we provide growth for these five key projects, our goal is to roll out the Bills to even more projects, creating continuous growth across the entire space.
As the adage goes: at high tide, all ships rise. With Jungle Bills, we are excited to bring the tide in and help everyone grow value and build wealth over time.
