What is APYSwap (APYS)?
APYSwap is a protocol for the decentralized cross-chain exchange of stakes in tokenized vaults. It enables delegation of user assets and provides a marketplace for trading financial assets. APYSwap allows users on multiple blockchains (initially Ethereum, Polkadot and Binance Smart Chain) to create and control their native blockchain vaults and transfer ownership to third parties. Users can also benefit from passive income without actively managing their portfolio. The Alpha version of APYSwap is already available, and the Beta version on the Ethereum mainnet will be launched in March 2021.
Who is the founder of APYSwap?
The project was co-founded by Warwick Business School alumni (MSc IT Management) CEO Andriy Velykyy and CTO Yuriy Savchenko, an IT specialist with over 20 years of experience in IT and Over 15 years of software development team management experience. The two met in 2017 when they were working on the project, which was working on integrating cryptocurrencies into POS terminals. After the 2017 crypto winter, they shifted their focus to another project - developing a non-custodial multi-currency wallet. Andriy came up with the idea of APYSwap after noticing the huge popularity of DeFi projects in 2020. He invited Yuriy to join as a partner, co-founder and CTO to jointly develop a product that provides portfolio assets for DeFi projects. Users can also choose to buy a portfolio of portfolios. They don't need to trust the opinion of one expert - they can combine stakes in various DeFi portfolios with the assets they control and the private keys they own. In this way, they spread their risk and combine the various different portfolios offered by the APYSwap platform. This became the vision of the APYSwap project.
Who is supporting APYSwap?
APYSwap recently closed a $1.8 million private investment, backed by NGC Ventures, Asymm Ventures, Genesis Block Ventures, Kyros Ventures, Hillrise Capital, Astronaut Capital, Black Mamba Ventures, AngelOne, Gestalt Capital. This creates a solid foundation and supports long-term project development.
APYSwap Token:
APYSwap Token is used to maintain and manage the APYSwap ecosystem. They ensure that only reputable DeFi projects are available in the market. Their role is to provide insurance services. Projects interested in listing on APYSwap’s marketplace will have to purchase APY tokens and lock them up. The total token supply is 100,000,000 APYSwap tokens. In early March 2020, the tokens will be available for purchase in Uniswap's ETH pool.
What is the use case for the project?
Delegated Asset Management - APYSwap recreates the traditional FinTech user experience, simplifying crop cultivation and reducing costs without compromising the decentralization of asset ownership.
Financial Product Issuance - APYSwap provides portfolio managers with a variety of tools for financial product design. By leveraging lending protocols, they can also create DeFi index funds that generate dividends.
Delegated Governance - Token holders are incentivized to participate in delegated governance through token rewards. They can delegate their voting power to whitelist new DeFi projects on the platform. Additionally, since a token's vote value is influenced by a user's historical voting activity and how long the token is held, there is an incentive to participate in regular and long-term voting.
