Programmable Blockchain Telos Enters into Strategic Partnership with ApeSwap
Telos blockchain, a high-performance programmable decentralized network, reveals the particulars of its ecosystem’s most recent substantial addition. Telos, a next-generation smart contracts platform, and ApeSwap, a BSC-based yield farming protocol and DEX with AMM, have engaged into a long-term cooperation, according to an official release.
ApeSwap will deploy its smart contracts to Telos, the “fastest EVM” environment, through the new partnership. This growth is a component of the Telos Fuel Incentive Strategy. As a result, Telos aficionados will have access to all of ApeSwap’s core features, such as its decentralized exchange (DEX), yield farming module, cross-network bridges, etc. Six key ApeSwap assets, including BANANA, ETH, BTC, USDT, USDC, and TLOS, are instantly accessible for exchange following the initial common release.
CEO of the Telos Foundation, Justin Giudici, is delighted by the unrivaled prospects unleashed by the future partnership for both teams: Although many Web 3 firms want to innovate, few really do so. Ape Swap is among these select handful. They are not only a platform, but rather a partner that really looks outside the box to provide people with unique solutions. It was a pleasure to collaborate with them on their Jungle Bills project, and we are pleased to go on this adventure with them.
Julian from ApeSwap further emphasizes the significance of this integration for the interplay of the DeFi and TradFi financial systems: Expanding to Telos will assist ApeSwap in closing the gap between web2 and web3 even more. We anticipate enrolling the next wave of new DeFi customers on ApeSwap Telos as a result of Telos’s exceptionally quick transaction times and minimal transaction costs. To build a robust and saturated liquidity environment for the launch of ApeSwap on Telos, each GNANA holder will get 1 TLOS through airdrop. To be eligible for the distribution, cryptocurrency holders must possess at least 1 GNANA in a non-custodial wallet before October 20. (20:00 UTC). Users who stake GNANA may also participate in the distribution.