Why should I use Yapeswap when we have other popular AMMs?
The Yapeswap development team is pioneering the smart utilization of liquidity. While Yapeswap V1 is essentially one powerful product (access to Yearn Vaults while simultaneously earning LP rewards), future versions of Yapeswap will blossom into powerful suites of tools for DeFi users, particularly LP's, to access higher yields. The current plans for Yapeswap V2 involve building on top of the recently released Sushi Trident AMM, which is focused on facilitating capitally efficient liquidity pools. From V1 to V2 and beyond, Yapeswap will continue to build and integrate new ways for liquidity providers to earn high yields.
What can I expect my APR to be?
APR will vary depending on trading volume and the yields generated in the Yearn Vaults. Our goal is to become the most profitable AMM for liquidity providers.
Any incentive for early supporters?
Merkle drop information
The first 1000 traders who use the Yapeswap AMM will be rewarded with a uniquely colorized NFT of our brand ambassador avatars, Lucy and Titus the Yield Apes. There will be 850 unique Lucy's and 150 Titus's. NFT holders may be eligible for more unique drops and promotions within the Yapeswap DAO.
How does gas affect Yapeswap’s efficiency?
During normal operation, ‘bare’ Uniswap consumes about 73462 & Yapeswap uses 87882. Yapeswap needs rebalancing when the deposit rate is out of range, which consumes around 500K gas, depending on the circumstances at the time of rebalancing. Rebalancing should not be needed more than 2 times a day, so users are largely paying a similar gas fee as they would with an AMM like Uniswap for a better return on their capital.
How is Yapeswap affected by slippage?
Yapeswap will have the same or better slippage rates than any other AMM. This is because the swaps are performed considering the overall number of tokens in the pool (active + deposited in yearn pool)
What are Yapeswap’s plans for future growth?
V1 will be released with a minimal amount of pools. Before the release of V2, the team will provide frequent updates to V1 including additional pools, $YAPE burning for $vYAPE, $vYAPE locking for $veYAPE, and more.
V2 will be focused on three deliverables
Improving on existing capital efficiency by integrating with Suhsiswap’s Trident with Yearn
Migrating with layer 2 - the specifics of which layer 2 will come first will be largely dependent upon how Yearn integrates with Optimism/Arbitrum.
Writing solidity strategies that contribute to the yearn community
What is Yapeswap’s plan to compete with larger, existing AMM’s, especially those that are also integrating solutions to provide LP’s with more earning opportunities?
The dev team believes in Ape Building, as in building products to be ready for launch, launching, and continuing to add features. We believe this will work to our advantage as we will be the first live AMM that deploys liquidity outside of liquidity to pools to maximize capital efficiency.
By being the first AMM to use liquidity outside of liquidity pools to maximize yields, we have the added advantage of building and adding to our protocol in real time, which will garner the trust of liquidity providers and traders. Our team is committed to building up the functionality and features of Yapeswap over time and delivering better and better results to our users.
How is Yapeswap affiliated with Workhard Finance DAO?
Yapeswap began as a project funded by Workhard Finance DAO, a DAO centered around providing opportunities for on chain employment. Yapeswap received starter funding based off of a proposal by an anon developer called ApeBuilder, the architect of the project who remains on the development team. Workhard Finance is setup such that projects proposals can receive funding to pay workers to build the project, then fork the DAO's token structure and governance framework, creating a 3 pronged DAO of their own, with a revenue streams, liquid stock options, and governance all being tokenized. After receiving the funding from his initial proposal, ApeBuilder assembled a team of workers, and a few weeks later the newly found Yapeswap team forked the WHF DAO. Visit https://www.workhard.finance/ to learn more about where Yapeswap started it's journey.
Who are the Devs?
Yapeswap is built by crypto nomads from around the world. The project founder and original proposal writer ApeBuilder recruited a team of 10 developers through Workhard Finance community channels before forking the WHF DAO. We invite you to interact with the team in the Yapeswap discord and telegram channels. The dev team’s Discord handles are listed below, and we hope to see you in there asking more questions.