Dec 14, 2022
ApeCoin Market Launch
The ApeCoin ($APE) market is now live on Pendle!
With this, both Apes and Pendies can now:
- Buy $APE at a discount (up to ~50% at time of writing)
- Provide sAPE liquidity to the $APE pool and stack rewards
- Boost $APE pool incentives with vePENDLE
APE at a discount
Buying assets at a discount is the bread and butter of Pendle.
With $APE in particular, this becomes even more enticing considering the deep discount, going as high as 49.2% at time of writing.
The only trade off for this is your liquidity, since the $APE can only be redeemed upon maturity on 29 June 2023.
But hey, if you were already going to long $APE, Pendle would be the perfect avenue for you to do so.
Providing Liquidity
Just days ago, we also launched a free-to-use $APE Compounder to help make staking and compounding $APE that much easier. The premise is simple — stake $APE, get sAPE, no fees, no fuss.
The Pendle $APE Compounder also significantly boosts your earning potential with $APE, bringing the APY of staking up from 176% to 525%.
The good news? It can be even more.
With the launch of the Pendle $APE pool, you can provide liquidity to stack and earn extra yield! The current LP APY for the pool stands at 387%, and that’s without incentives.
Thanks to the way Pendle V2 AMM is designed, impermanent loss (IL) will be minimal and you won’t even need $APE or sAPE to do this. Simply select the token you’d wish to supply and let our built-in zap function do the rest for you.
There’s also another side of the coin if you want to dive deeper into the Pendle rabbit hole, but we shall leave things here for now.
Boosting Rewards with vePENDLE
The $APE pool rewards can be higher. Much higher.
With vePENDLE, Apes can band together to supercharge the $APE pool rewards by directing Pendle incentives to it.
PENDLE can be locked from as long as 1 week to 2 years for vePENDLE, which can then be used in voting to channel incentives as you wish.
As a vePENDLE holder, you’ll also be earning a cut of the protocol revenue which lets you stack even more yield on top of what you already have.
To learn more about vePENDLE, check out our previous article here.
Before we end things off, here’s the ultimate Pendle cheat sheet for ApeCoin!
We’ve always been big fans of the APE community, and we’re excited to be a part of your ecosystem. Pendle helps to unlock a new layer of DeFi vertical for the largest NFT project, and we look forward to all the fascinating yield strategies that you can cook up.
Go bananas 🍌
