Joint Liquidity Mining on Avalanche with APEIN on KyberDMM

Collaborations/Integrations/Grants
1

1. Project Introduction

Ape In is an NFT-driven project that features a series of mini-games that are designed to offer a consumer-friendly approach to decentralized finance (DeFi). These games function to introduce crypto-centric concepts, such as liquidity farming, to a broader audience while forwarding the industry’s thinking around the utility of NFTs.

The Ape In mini-games all exist within the Ape Island metaverse, a digital world that brings users together to explore exclusive gaming experiences and socialize. Ape Island features the first decentralized, on-chain NFT vaulting system where the main metaverse game unit, the Ape, can be staked to earn the APEIN utility token. This system currently features more than $2.5M in TVL.

The APEIN token has major utility across Ape Island with the primary use case of being the token required for mating Apes to create offspring, which in turn can be vaulted for additional APEIN rewards. APEIN is an inflationary token with substantial deflationary mechanisms, including mating and a built-in burning mechanism on all Ape + item sales.

Ape Builder Screen Grab

Ape Island is being developed on Ethereum and Avalanche and APEIN is currently available on both networks.

2. Proposal Summary, Motivation, and Key Details

Ape In is proposing a joint liquidity program with Kyber on the Avalanche network.

As part of this program, users will be able to provide liquidity to the upcoming APEIN-WAVAX pair on KyberDMM to receive dedicated LP tokens. These tokens can be staked to earn dual-rewards in both APEIN and KNC at a 2:1 ratio.

With the incentivized pool, KyberDMM will become a primary location for APEIN trading on Avalanche. Our team will focus heavy resources and attention on the marketing around this pool, including the creation of unique Kyber-branded Ape NFTs.

The motivation behind this proposal is two-fold:

  • To increase our footprint on the low-fee Avalanche network by attracting DeFi-centric users, such as those found within the Kyber community, via APEIN reward distribution. Our goal is to build a dispersed group of APEIN holders who can all participate in the upcoming, exclusive expansion sale of Apes on Avalanche using their farmed rewards.
  • To incentivize the lock-up of APEIN to grow the total liquidity available to new users entering our metaverse. Core to our economy is the ability to efficiently acquire APEIN with low-slippage and the KyberDMM is the ideal venue for this pool.

The Ape In team is fully public and has been at the forefront of NFT innovation for the past few years. Our team has been featured in major financial publications, including The Wall Street Journal, Business Insider, Bloomberg, and more.

3. KNC Amount Requested

$100k in KNC incentives

4. Project Contribution Amount

Ape In will provide $200k worth of APEIN rewards for 8 weeks, in addition to seeding the initial liquidity at a level between $800k and $1.2M, depending on market conditions at the time of pool creation. The pair will be APEIN-WAVAX.

5. Network

Avalanche

6. Token pair option

Others

7. Vesting Schedule

14 days

8. Campaign Duration

2 months

9. Project Details

Website
Medium
Docs
Twitter
Discord
Telegram

APEIN token address on Avalanche:
0x938fe3788222a74924e062120e7bfac829c719fb

APEIN token address on Ethereum:
0x8bbf1dccbedd5c70d8e793d432fb56b848dd1698

Current pool analytics for the APEIN-WAVAX pair on Trader Joe
Current pool analytics for the APEIN-ETH pair on SushiSwap

Ethereum network NFTs:
Ape Island Season 1 NFTs
Ape Island Season 2 NFTs

PolyientX (Vaults and Farms)

Logo:

apein-token

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Looks like another NFT game, which is good for ecosystem growth and traction since NFT games are so popular right now. Also, it looks like one of the top tokens on Trader Joe, and the amounts given and requested are very reasonable for a new project. I would vote yes.

3

The team at ApeIn are developing what I think will be a fantastic ecosystem to help more people understand more about the crytpo/defi world. The more people in the space the better and what better way to do it than through gaming. They’ve made great steps forward since coming to avax not long ago. I Apedin some time ago to their eth ecosystem and the move to avax is looking fantastic - I think given what they are offering/asking for this is something that would be good to have for both sides , so I also vote yes.

1 Like
4

Another NFT game! Ape In is pretty new and their community size seems quite small so this collaboration could be mutually beneficial in terms of raising awareness within the DeFi community.

NFT games seems to be gaining traction in terms of popularity so it may be a good idea to take advantage of this opportunity since Kyber has expanded to BSC and Avalanche and started to gain more interest from Dapps deployed on the respective networks.

The amount requested and contributed is reasonable, so I think this proposal would be a good choice as the first joint LM program to take place on Avalanche.

1 Like
5

Would be good to have projects aside the rainmaker program on Avax, nice to see, seems reasonable, I’d give it a ‘go’

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First time seeing this project, seems like they are one of a few Avax native apps? I guess it can be a good move to work with them just in case Avalanche succeeds in users adoption. Then high chance those native first mover dapps become blue chips

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Not even officially deployed on Avalanche yet and already dapps are proposing LMs. This goes to show how much other dapps trust in KyberDMM :+1:
Don’t know much about Ape In, but seeing as they’re the first to propose joint LM on Avax they might be worth a try?
Is there a reason they’re limiting the proposal to Avax instead of Avax and Ethereum?

8

Great to see adoption on Avalanche … waiting to provide liquidity for this pair and check out the Apein ecosystem.