BabyApeBanana is steadily catching the eyes of many. With the upcoming presale and launch, everyone’s wondering what those cute “apes with bananas” Telegram stickers are and where do they come from.
I recently had an in-depth conversation with the lead developer of BabyApeBanana to get some more details about their project so we can understand a little more about what’s the big deal behind some of the features they’re releasing. Let’s take a dive.
The BabyApeBanana Concept
BabyApeBanana ($BAB) is essentially a rewards token. This means that by simply holding $BAB, each holder gets a share of the 8% accumulated rewards. Though this may sound like an average memecoin rewards token, the team is actually making an effort to differentiate their concept to make it stand out from the ocean of shitcoins.
But not just that. BabyApeBanana also has some other features that can help push it into next level, such as a community lottery and an ApePot
$BAB has a purpose in our crypto jungle universe. People can use it to buy NFTs in our DApp and decide if they just want to keep this NFT, sell it on a platform of their choice, or send it to our lottery and participate in the ApePot raffle.Developer of BabyApeBanana
The BabyApeBanana NFTs will act as an entry ticket into the lottery. There will be a limited time for purchasing NFTs and timeframes for participating in the lottery. This means that every NFT becomes an edition and will be limited, and each NFT itself will be burned by sending it to the lottery.
Key milestones on their Roadmap
The roadmap can be viewed on their website. The team is reluctant to go too deep into the details of their roadmap, primarily because they want to keep certain announcements for a surprise to their community.
According to the developer, some key points on the roadmap are:
- First ApePot draw 1 day after launch
- Second batch of NFTs, approximately 1 week after launch
- Play-to-earn game (Launch date to be announced)
8% “Banana Rewards”
As you can see from their tokenomics above, there is a tax on both buy and sell transactions. The larger chunk of this tax (8%) will be allocated to all holders in the form of $BANANA – ApeSwap’s native token (Like PancakeSwap’s $CAKE)
Like a majority of rewards-based projects, rewards are distributed according to the amount of $BAB supply you are holding. So holding more $BAB = more $BANANA rewards.
The rewards are automatically distributed to holders on an hourly basis. If you don’t have enough patience to wait hourly, you can also trigger the claim function by selling a single $BAB, or sending 1 $BAB to your own wallet address. The contract also gives the option to manually claim via BSCscan. If all of these are too complicated for you then I suggest you wait for the automatic distribution.
You can choose to sell your $BANANA rewards or keep them. It is totally up to you and it will not affect the BabyApeBanana chart.
Note: Rewards always depends on the volume of transations. There will not always be high volume being traded. At times there will be low volume. This means during that time you may receive lower amounts of $BANANA rewards. This is normal and you don’t need to worry.
4% Marketing tax
4% of all transactions will be allocated to the marketing wallet. This wallet is dedicated for all marketing, advertisement, and growth purposes.
Their marketing plan is a mixed strategy that’s organized into different phases which include:
- Influencer marketing
- Community contests and events
- Banner ads on popular webites
Even though marketing is a big part of it, we don’t want to just push the $BAB price and force it to stay alive by advertising like crazy. We want to focus more on the added value of the product, and keep increasing that value through new implementations and enhancements, then support that with marketing.Developer of BabyApeBanana
Community Giveaway and ApePot lottery
There will be a 10% community and lottery wallet. This will, like any other wallet, will also be receiving $BANANA rewards. 70% of the rewards from this wallet will be given back to the community through a lottery jackpot – known as the ApePot.
Since they will be using only the $BANANA rewards generated from this wallet, the lottery cashout and winnings will not affect the $BAB chart (which in most projects can cause a decline or massive red candle each time.)
The BabyApeBanana will also be announcing several giveaway competitons. Each time, the community members will have a chance to win 30% of the accumulated rewards.
ApeStake & Multiloop?
The team did not want to go into too much details about this as well.
At this point, I don’t want to say more about it, but we have something crazy planned so you should stay curious.Developer of BabyApeBanana
According to their website, the Multiloop will be the first ever memecoin to implement this feature. $BANANA coins (from your rewards) can be staked at a high APY to a listed farm coin. This acts as an incentive for “apes” to provide liquidity to a project – which can increase the price as a result.
Staking will be offered in the near future and the exact launch date of this feature will be announced in the BabyApeBanana Telegram group.
Presale and launch Information
The presale for BabyApeBanana is scheduled for September 6th 2021 at 18:00 UTC.
Hardcap: 105 BNB
Softcap: 70 BNB
Mininum investment: 0.1 BNB
Maximum investment: 1 BNB
Platform: DX Sale (To be provided in their Telegram group)
Depending on how quickly the presale is filled, BabyApeBanana will be launching on PancakeSwap the same day.
It’s always a good sign when the devs are super excited and confident in their project. Some of their team members have been staying up until morning hours to manage their community, preparing for their presale and launch, and getting the features ready. In my opinion, it seems like a slow and steady build (in a good way) and it’s worth taking a look at. If their features are implemented successfully and the marketing continues to highlight the benefits, it could gain the potential to be a long-term project.
That being said, none of this is financial advice. I tried to get as much information for you as a reader to help you in your decision making. Always do additional research and join their Telegram community and reach out to the team if you have any unanswered questions or concerns.
Leave a comment below to tell us what you think, or join the Degen Clinic Telegram group!