APWine: Initial DEX Offering coming to a close!
If you are interested in projects in the decentralised finance (DeFi) space, you are probably aware that a good DeFi project uses lots of agricultural references. APWine is no exception to the rule. Do not be fooled by its name, though, as this project has nothing to do with a bottle of red or white – read on to find out more!
Receive your gains in advance!
Joking aside, APWine is a DeFi protocol that offers an innovative solution: to immediately tokenise your future returns generated by other DeFi protocols over a given period. APWine allows you to materialise the returns you will generate in the future on another DeFi protocol.
This has two main advantages: once these unrealised gains are tokenised through APWine, you can resell them to reduce the potential risk of fluctuating rates of return, or then trade them to speculate on how yield rates on various DeFi protocols will change in the future. Do you see the potential? If you are still a bit unsure on how this all will work, do not worry! We’ll go into more detail in a future article very soon.
Launched last year, APWine has rapidly evolved to develop its first mainnet, launched at the end of January 2021. This was followed by a $1 million (£700 million) seed, announced at the end of March.
An IDO to access the first APW tokens
The important announcement of the day is that APWine is almost at the end of its inititial decentralised exchange offering (IDO). This two-day IDO was the first public opportunity to acquire APW tokens, which are currently available through a USDC/APW pool. You can find out more on the APWine page dedicated to the IDO.
During this event, nearly 7% of the total offer of the APWine protocol governance token will be issued, or 3.5 million tokens out of a total of 50 million. These will be the first tokens in circulation on the market. The funds raised will then be used to develop liquidity pools on other decentralised exchanges (DEXs).
To learn more about the tokenomics of the APW token, why not have a gander at the project presentation page? If that’s too technical for you, join us again soon on CoinTribune, as we have an article breaking down this promising DeFi ecosystem project in the pipeline!
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