Make sure to leave at least 250B Moonlight Token on your BSC address or you will lose access to PPA
We announced our first staking partnership with ApeSwap on May 21st. This is the beginning of an exciting and promising adventure. Our community might be unfamiliar with staking: this article will cover everything you need to know!
What is ApeSwap?
ApeSwap is a Decentralized Exchange / Automated Market Maker, Yield Farming, and Staking platform running on Binance Smart Chain, with lots of other features that let you earn and win tokens.
BANANA is the native currency of the platform.
ApeSwap is a direct competitor of Pancakeswap, with their own DEX & liquidity. Their numbers speak for themselves: $250M liquidity, $50M trading volume, and $300M Total Value Locked.
You said partnership?
The official partnership with ApeSwap was announced on May 21st, and will revolve around three strategic themes:
- Two staking pools with Moonlight token will be available on ApeSwap starting May 22nd, at 7PM CET, UTC+2
- MoonLight token will be listed on ApeSwap Decentralized Exchange. You’ll be able to buy (and sell) Moonlight directly in there!
- Mutual marketing collaboration
We also discussed co-creating a product/alert in the near future. We are very excited about this new adventure!
What is staking?
You may think of staking as a light alternative to mining. It involves depositing funds in a wallet to support the security and operations of a network. Simply put, staking is the act of locking tokens to receive rewards.
There are going to be two separate pools on ApeSwap:
- Staking pool where you can stake $BANANA to earn $MOONLIGHT. More than $125k of $MOONLIGHT is claimable over a two-months period!
- Farming pool where you can stake LP (Moonlight-BNB) to earn $BANANA
Why should I stake?
Staking enables to earn passive income every day. This can be useful for Moonlight holders who want to access Poocoin Promoted Alerts (PPA), but are below the threshold (250 billions Moonlight Token)
Warning: if you have access to PPA, make sure to leave at least 250B Moonlight Token on your BSC address! If you deposit all your Moonlight on a staking pool, you will lose access to PPA. If you have more than 250B, you can use the extra for staking and farming!
What’s the math behind a pool?
$125k in Moonlight are going to be claimable over a 2-months period in the staking pool. Meaning that ~$2,000 in Moonlight are going to be claimable each day ($125K/60). Those $2,000 will be distributed among the shareholders of $BANANA, proportionally to the amount of $BANANA that they deposited in the pool.
Let’s take some examples:
- If there is only one $BANANA holder in the pool, he will get $2000/day (no matter how much he deposited)
- If there are ten $BANANA holders in the pool with an even distribution of $BANANA (10% each), each holder will get $200/day
- If there’s one hundred $BANANA holders but one of them holds 50%, he will get $1000/day
The same logic applies for the farming pool.
How to stake and/or farm on ApeSwap?
We will be releasing a video explaining everything shortly.