Telos Fuel & ApeSwap: A Success Story
When the Telos Fuel campaign officially launched in September 2021, Telos Foundation (TF) members established a vision for a highly composable and self-sustaining DeFi ecosystem that empowered developers and users alike. One of the first objectives in converting this goal from an idea to reality was to integrate a well-established and highly secure farming protocol that the Telos community could leverage to lock in rewards in exchange for boosting the network’s TVL.
After careful consideration, the decision was made by the TF to partner with ApeSwap, a leading automated market maker (AMM), yield farming, and staking platform built on BNB Chain. Since its inception, ApeSwap has proved itself a viable option for retail investors who wish to engage in DeFi protocols. The outlook from Telos and ApeSwap was positive from the start, and as the first major Telos Fuel partner, the desire to fire on all cylinders was a mutual sentiment.
But little did both teams know at the time the success of the partnership would not only meet their joint expectations but also significantly exceed them.
Synchronized From the Start
It was as if Telos and ApeSwap were destined to unite and the Telos Fuel campaign provided the missing link to bridge these powerful entities. Upon confirmation of their partnership, the teams developed a comprehensive plan detailing initial liquidity pools and treasury bills that offered prime APY returns. Once established, both marketing teams sprung into action to coordinate official announcements and release dates. It was synergy at its finest — and the numbers speak for themselves.
Defying the Bear
2022 was a challenging year for financial markets, and crypto was not exempt from the massive drawdown resulting from repeated black swan events. However, someone forgot to let the Telos and ApeSwap community know there was a market-wide recession taking place.
Despite a wave of DeFi users pulling liquidity from the market, the Telos-ApeSwap liquidity pools (LPs) experienced a robust influx of capital. When it was all said and done, ApeSwap opened an impressive eight Telos-based LPs on its platform, which locked in a combined $3.6 million in TVL (at the time of writing).
Looking Forward to a Prosperous 2023
As 2022 nears a close and we take stock of our milestones throughout each quarter, it is evident that the Telos and ApeSwap partnership resulted in a resounding win for both communities. The collaboration created a wide range of value-added services for DeFi users and shows clear signs of tremendous potential for further growth in 2023. Telos would like to thank ApeSwap for their cooperation in this joint venture, and we look forward to a bright and prosperous future together.
The Telos EVM is the most powerful and scalable Ethereum Smart Contract platform built to power Web 3.0. Telos features a robust, third-generation, ESG-compliant evolutionary blockchain governance system, including smart contracts, advanced voting features, and flexible and user-friendly fee models. In addition, Telos supports the blockchain ecosystem by serving as an incubator and accelerator for decentralized applications through development grants. Build with us.
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