We are excited to announce that 3air has launched Treasury Bills (TBills) on ApeSwap! TBills are innovative yield-generating NFT products that allow users to purchase tokens at a discount in exchange for their liquidity provider (LP) tokens.
Treasury Bills make it possible to source sustainable liquidity for the ApeSwap DEX and for partner projects like 3air, solving many pain points in the current liquidity renting model used by the vast majority of the DeFi industry. Read on to learn more about how TBills work and why we believe they are a game-changer for the DeFi space.
When a user purchases a Treasury Bill, they receive an NFT that represents the discounted tokens as they vest over time. The holder of the NFT is the only one who can claim tokens as they vest. Each Treasury Bill NFT consists of a combination of five procedurally-generated characteristics: The Certification, the Legend, the Location, the Moment and the Trend. You can read more about each of the characteristics here.
Each Treasury Bill represents the output tokens which vest over a certain amount of time. ApeSwap Treasury Bills come in two formats: BANANA Bills, and Jungle Bills. BANANA Bills allow users to sell their LP tokens to receive BANANA tokens at a discount, vesting over 14 days.
ApeSwap Treasury Bills come in two formats: BANANA Bills, and Jungle Bills.
BANANA Bills offer users the opportunity to purchase ApeSwap’s native token, BANANA, at a discount relative to the current market price.
The 1 BANANA per block dedicated to protocol-owned liquidity funds the BANANA incentives paid to users for purchasing BANANA Bills with their LP tokens. Users receive discounted BANANA, and the protocol receives liquidity that it controls and can use to generate sustainable revenue through trading fees.
To buy a BANANA Bill, a user must first create an LP token by adding liquidity to the DEX for the trading pair that corresponds to that type of BANANA Bill. For example, BANANA-3AIR LP tokens are used to purchase BANANA-3AIR Treasury Bills, which yield BANANA utility tokens.
Jungle Bills allow users to sell their LP tokens to earn partner project tokens at a discount, vesting over a certain time specified by the project.
Jungle Bills work like BANANA Bills in terms of the core mechanism, but instead of accessing BANANA tokens, users can access tokens from select partner projects within the ApeSwap ecosystem using liquidity provider (LP) tokens.
Now that 3air has launched its TBills on ApeSwap, you are able to buy TBills easily on their platform. Follow this guide for a detailed walkthrough.
We are excited about the launch of Treasury Bills on ApeSwap and believe that they have the potential to revolutionize the DeFi space. If you have any questions about TBills or would like to learn more about how they work, we encourage you to reach out to us on Telegram or Discord.