PancakeSwap introduced one-click zap farming on BNB Chain. ApeSwap has expanded functionality and BabyDogeSwap has recently joined the trend.
The Battle of the Zaps
YYou get a Zap! … YYou get a Zap! … YYou get a Zap! In their bid to overthrow PancakeSwap as the dominant decentralized exchange (DEX) on the BNB chain, rivals ApeSwap and BabyDogeSwap have followed the market leader and introduced one-click functionality to create liquidity pool (LP) tokens.
Anyone who has delved into farming on Decentralized Finance (DeFi) platforms knows that LP tokens often come in pairs. So, any user who wants to add liquidity to a pool must first acquire (or hold) the two tokens (i.e. CAKE and BNB) and then use an exchange to create a single token representing the LP pair in a 50:50 -Represents breakdown of assets (BNB-CAKE).
That’s a lot of steps, especially for a crypto n00b. And that’s why DEXes implemented Zap.
Let’s take a look at how the feature differs between PancakeSwap, ApeSwap, and BabyDoge Swap.
The chefs did it first
Realizing that manual LP token creation “has proven challenging for DeFi beginners,” PancakeSwap pioneered the Zap feature on BNB Chain, which launched on July 4th.
With Zap on PancakeSwap, users don’t have to go through the multi-step process of creating an LP token. Instead, they only need to hold one of the tokens in the LP pair and Zap will automatically perform the swaps and balance the trade pair 50/50.
The monkeys did better
ApeSwap launched its Zap feature on September 13th and took it a step further by adding new features.
As with PancakeSwap, ApeSwap’s Zap feature allows users to create LP pairs from a single token in the pair. Additionally, ApeSwap’s Zap users can select any asset from the exchange’s Treasury Bill page without purchasing the LP tokens required to purchase the specific bill.
Also, ApeSwap users can use Zap to move LP tokens directly into the ApeSwap ecosystem from sources outside of ApeSwap.
BabyDogeSwap did it yesterday
After launching on testnet in August, BabyDogeSwap launched on mainnet on October 6th. To make it easier to participate in DEX’s Yield Farms, it launched its 1 Click Farming Deposits Zap feature on October 21st.
According to BabyDogeSwap, this feature allows users to make stablecoin deposits and more directly into their yield farms without having to manually swap them for LP tokens. Users can also import LP tokens from PancakeSwap into BabyDogeSwap.
Final Thoughts
PancakeSwap deserves applause for introducing Zap feature to BNB Chain. However, the feature has a narrow usage for adding and removing liquidity from the DEX.
ApeSwap has enhanced PancakeSwap by offering features that make it easier for users to interact with the rest of the products in the ApeSwap ecosystem.
With the introduction of BabyDogeSwap’s 1-Click Farming by Zap, there is no denying that BNB Chain DEXs have recognized that ease of use plays a major role in whether users choose them or a competing platform.
What is PancakeSwap:
PancakeSwap is a decentralized exchange (DEX) built on top of the BNB chain. It offers users various features like Liquidity Pools, Swaps, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT Profile System and many others.
Additionally, the protocol helps users get the most out of their crypto assets by trading, earning through yield farming, and winning through lottery, prediction, and NFT collectibles. With the highest trading volume in the market, PancakeSwap is the leading DEX on the BNB chain.
Where to find PancakeSwap:
Website | Twitter | Medium | GitHub
What is ApeSwap:
ApeSwap is a leading DEX on BNB Chain that offers users the best trading experience. ApeSwap is a mix of decentralized exchange, yield farming, staking and an automated market maker (AMM). ApeSwap users are urged to participate in its liquidity pool offerings via yield farming to earn their native BANANA token. Additionally, these earned tokens can be used to wager and earn other tokens and unlock deluxe features.
For more information on ApeSwap, see the platform’s media links:
Website | Twitter | Medium | telegram
What is BabyDogeSwap:
BabyDogeSwap is a decentralized swap platform on BNB Chain. Leveraging the low transaction fees of the blockchain, the DEX offers high APRs for farming and low swap fees. BabyDogeSwap users can stake tokens to earn $BabyDage and other listed tokens in the liquidity pools on the DEX.
For more information on BabyDogeSwap, see the platform’s media links:
Website | Twitter | discord | telegram
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