Using Zap
Last updated
Last updated
Using Zap is the fastest way to go from holding any single token on BNB Chain, Polygon, or Telos to using one of ApeSwap’s robust DeFi services.
Zap functionality allows users to reduce the amount of steps needed to access a variety of ApeSwap products. There are three main ways to use Zap, which we’ll be rolling out in stages.
Single Token to LP
The first stage of the Zap feature is the ability to go from a single token to a liquidity provider (LP) token in a single transaction. Before Zap, users had to manually acquire both tokens of an LP pair, then combine them to receive an APE-LP token that represented that LP pair.
As of September 14th, 2022, users can use a toggle on the Get LP modal to enable Zap. The Zap option will allow users to select an asset in their wallet (e.g., BUSD) and receive the target LP pair (e.g., BANANA-BNB) in one transaction. The Liquidity tab of the ApeSwap DEX also has its own Zap section dedicated to single-token-to-LP Zaps.
ApeSwap has implemented the Zap function on a number of products, including:
Single Token to Product
The second stage of the Zap feature is the ability to go from a single token directly into one of ApeSwap's DeFi products. Without this second stage, users must first create an LP (either manually or using the Zap stage 1 steps above), then stake those LPs into the various ApeSwap products.
Zap stage 2 allows a user to select a Treasury Bill or a Staking Pool, and then enter those products directly using the supported token of their choice. This reduces the number of transactions necessary to start earning vesting tokens at a discount (via Treasury Bills) or earning single-asset reward tokens (via Staking Pools).
Migrate LP
The third stage of the Zap feature is the ability to migrate external LPs held on other DeFi protocols into the ApeSwap ecosystem, all without leaving the ApeSwap platform.
To use Zap to migrate external LPs, users can visit the dedicated Migrate page on the ApeSwap DEX, which will automatically detect LPs held on other platforms, then migrate them over to ApeSwap with only a few clicks.
