Treasury Bills: An ApeSwap Community Success Story (With More to Come)

cryptonews.com:

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Although the launch of ApeSwap Treasury Bills was one of the most anticipated NFTs of Spring 2022, nobody could have predicted their immediate success.  

When the Treasury Bills launched on April 12, 2022, the first batch sold out almost immediately after they became available. The ApeSwap community ensured the success of the limited-edition NFTs, with tremendous excitement for the next round.

Because of the early success and more to come, the ApeSwap team wanted to offer a look at how Treasury Bills became a blue chip NFT at launch, with a vision of the roadmap to come.

The launch of the Treasury Bill product was among the most heavily awaited events of the year for the ApeSwap community. Within minutes of launching, the discount turned negative  —  meaning the Treasury Bills price was higher than the price of BANANA  —  and purchases were disabled. As a result, ApeSwap community members wanted to know how Treasury Bills can become unavailable so quickly. The answer lies in tokenomics.

The key utility of the NFT is selling Liquidity Pool (LP) tokens and receiving BANANA tokens, which vest over a 14-day period. There are three key incentives for purchasing the Treasury Bill NFT: The unique art procedurally generated with each mint (more on that below), the ability to earn BANANA tokens at a discount, and generating protocol-owned liquidity for the ApeSwap DAO to build long-term sustainability for the product.

As Treasury Bills are minted, the BANANA discount rate slowly decreases until it gets to (or below) 0%. This has two primary effects: First, a lower discount increases the return on emissions (ROE) for the entire protocol, adding