Hey fellow Defiant!
You must be enjoying the the insane APR on our farms while negating the risk of IL (Impermanent Loss) due to the rock-steady price! If not, you are still earning from those more-than-decent returns by just holding DEFY in your wallet.
We previously informed you that we are entering a partner with one of most feature-rich and active DEX on BSC, Ape Swap.
However, The process is a gradual one and they have posed some conditions before we ‘graduate’, qualify.
One of those conditions is, we should have 75% of liquidity on ApeSwap.
However, we pointed out how we have a great chunk of liquidity locked via Cryptex and that is on PancakeSwap. They considered that fact and lowered the requirement for us. However, we still need to move the major liquidity to ApeSwap.
Now, this liquidity is owned by the users and not the team. So, we really need you to ditch PancakeSwap in favour of ApeSwap.
The process is,
- Unstake your LP from BNB-DEFY or BUSD-DEFY farms of PancakeSwap.
- Go Back to Pancakeswap, dissolve your LP to get back DEFY and BNB/BUSD.
- Go to ApeSwap, add DEFY and BNB/BUSD to their liquidity pool.
- Take the LP and put it to work on our Dashboard on BNB-DEFY or BUSD-DEFY farms of ApeSwap.
Now, we understand this switch will cost you some DEFY. To compensate this to members who follow this process, we will be continuously increasing the boost on ApeSwap farms. Each week from inception, the boost on ApeSwap farms will be increased by 1x.
- The ApeSwap farms were introduced on 10th of April 2021. Right now, 60% of farm reward is allocated to ApeSwap farms, compared to 30% on PancakeSwap farms. Which is a boost of 2x.
- On 17th April, 2021, ApeSwap farms will be boosted to 3x vis-a-vis PancakeSwap farms. In other words, 67.5% rewards will go to ApeSwap farms and 22.5% rewards will go to PancakeSwap Farms.
- On 24th April, 2021, ApeSwap farms will be boosted to 4x vis-a-vis PancakeSwap farms. In other words, 72% rewards will go to ApeSwap farms and 18% rewards will go to PancakeSwap Farms.
- On 1st May, 2021, ApeSwap farms will be boosted to 5x vis-a-vis PancakeSwap farms. In other words, 75% rewards will go to ApeSwap farms and 15% rewards will go to PancakeSwap Farms.
This rate will continue till further notice.
You might notice, the calculations show only 90% in each case. The remaining 10% is allocated to our partner farm, TNDR- BUSD.
You can continue to use PancakeSwap farms but with such insane favouritism to ApeSwap, if you switch, you will make more DEFY despite the transactional losses incurred.
So, moving to ApeSwap (original + excessive returns — Tx loss) will be much more than staying in PCS (original + lower return). Our simplistic calculation shows, the loss will be recovered within 6 days of moving and then on, you will earn much more, using ApeSwap farms.
Why not totally remove the PCS farms?
Because we don’t want to force you! If you really want to keep using Pancakeswap, you simply can. However, not only for increased return but also to help the DEFY project holistically, we request you to move to ApeSwap. That will help us hasten the onboarding process.
Where does the deal with Apeswap really stand?
They gave us 4 conditions to qualify.
1. Liquidity — We explained above.
2. Due Diligence — It’s nearly done.
3. Audit — Done.
4. ApeSwap Farms — Introduced already.
So, help us to meet the last requirement, help yourself to earn much more DEFY.