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Learn BAPT in 1-2-3
Learn the most important aspect of BAPT, before taking a deeper dive into the more technical stuff.
Please read carefully through the below provided information to get you up to speed on most there is to know about BAPT LABS and BAPTSWAP!
Starting March 2022 - Aptos received a large amount of funding ($200M), followed by $150M in June. The mainnet of Aptos went live in October 2022.
The reason Aptos received so much funding is mainly because of the following factors:
This allowed them to pull their strings of connections and gather the required funds.
The combination of Block-STM technology, Move programming language and BFT consensus makes it stand out from other Layer 1 blockchains.
After launching their Testnet and users began to report the transaction speeds and time-to-finality rates, Aptos really started to get traction as it outshines it competitors.
Aptos is essentially a continuation of a project that Meta/Facebook launched before, aiming to build a metaverse.
Aptos offers up to 160,000 transactions per second and is able to finalize transactions within a second. This makes it outperform its competitors such as Solana.
BAPT LABS is a pioneering organization focused on providing safe and secure methods for individuals and businesses to develop innovative projects in the cryptocurrency space. BAPT LABS was re-branded from Baby Aptos, with the same ticker $BAPT. The token $BAPT is fuelled by protocol revenue and taxes collected from trading.
BAPTSWAP, powered by BAPT LABS, is a revolutionary-decentralized exchange (DEX) on the Aptos chain. It enables fee-on-transfer for its users, which allows for the collection of taxes and earning of reflections.
The following instructional videos have been uploaded to our official YouTube channel:
Originally, the goal was to launch an Aptos reflection token on the Aptos Network. However, due to the inability of Aptos to facilitate tokenomics, we decided to do the initial launch on the Binance Smart Chain. As tokens with taxes are very big parts of DeFi, we wanted to help others being able to launch these types of tokens on Aptos aswell. Consequently, the team seized the opportunity to transition to Aptos and develop the sole decentralized exchange (DEX) that enables tokenomics.
There is a bridge available for users to bridge their $BAPT tokens. To bridge them, users first need to unstake their tokens. Bridging requires very little $APT, as transaction fees are low. However, users can be incentivized to transfer more by opting for LP staking. The team is currently working on an option for users to avoid the initial gas fees when transferring. The bridging process takes only a few minutes. Please follow our instructional video on how to bridge to Aptos.
Our upcoming exclusive NFTs for the Aptos chain are called The Wolves of Aptos. Keyholders will be eligible for free mints of the Wolf NFTs. Until The Wolves of Aptos collection is released, earning through NFT keys will remain available on BSC. This may take a few weeks after the BAPTSWAP launch. Any $BAPT earned through the keys can be bridged to Aptos using the bridge.
There are two types of rewards available:
- Holding/staking $BAPT: On the Aptos chain, $BAPT tokens must be staked to receive rewards. The rewards will be in $APT, making $BAPT the first reward token of Aptos.
- Providing LP: Depending on the fees set by the contract creator, LP stakers will earn 0.2% of trading fees plus % LP tax based on the defined fee-on-transfer tax. The fee-on-transfer taxes will go directly to the stakers, not the protocol owner. Both $APT and $BAPT can be earned, resulting in dual rewards.
A base trading fee of 0.3% is maintained by the DEX. Out of this, 0.2% is directed towards LP stakers, while the remaining 0.1% is directed towards the $BAPT treasury.
To bolster the $BAPT token, the treasury will be utilized to support various initiatives such as buybacks, competitions, giveaways, partnerships, and more. The primary goal of these funds is to generate rewards for $BAPT holders and Wolves of Aptos NFT owners. LP stakers will receive $2000 for every 1 million volume on the DEX, while the treasury will receive $1000.
A comparison: Assuming PancakeSwap had implemented our fee structure, they could have potentially generated $540,000 in revenue within 24 hours from the $180 million worth of trading volume on the Binance Smart Chain. From this revenue, LP providers would have received $360,000, while the remaining $180,000 would have been directed towards the Treasury.
BAPTSWAP fills a missing link with high demand in the Aptos Ecosystem by allowing the creation of taxable tokens. The Move language itself does not support this, but thanks to a crafty workaround, the team is able to create this.
- Token Swap: Users can swap a variety of tokens, both taxed and non-taxed. Taxed tokens include $BAPT while $APT or USDT will not include fee-on-transfer, except for a 0.3% router fee.
- Token Launchpad: Developers can launch their own tokens on BAPTSWAP, creating fee-on-transfer tokens with maximum fees of 15% buy and 15% sell to prevent abuse.
- Staking Pools: Users can earn rewards/reflections by staking in various staking and LP farming pools. Collected taxes will be sent to these pools, and developers using the launchpad will receive a free staking pool on BAPTSWAP.
- Token Locker: Developers can lock their newly launched tokens as a safety measure. Longer locks will be free, while shorter locks will be charged with a fee.
- Launchpad for Fundraising: Developers can raise funds for their project development and liquidity pool, similar to Pinksale.
- BAPT Games: Games of odds will be hosted on BAPTSWAP to reduce the supply of BAPT and increase earnings in APT.
- Lottery: Users can buy tickets to win daily, weekly, or monthly prizes.
- Coinflip: Users can flip a coin and choose between heads or tails.
- Keys and Wolves of Aptos: Keys have a maximum supply of 525, while Wolves of Aptos have a maximum supply of 2222. Once the wolves are live on Aptos, key rewards will stop, and users will have to swap their key for a "free" Wolves of Aptos mint. Wolves of Aptos rewards will be based on DEX trading volume, in addition to a stable income like the keys.
Note: The quantity for the Platinum, Gold, Silver, and Bronze Wolves of Aptos is currently not specified and needs to be revised to the actual quantity.