HomeCoinsBanano (BAN)Wrapped BANANO (wBAN) Updates — December 2021 | by Banano | Banano...

Wrapped BANANO (wBAN) Updates — December 2021 | by Banano | Banano | Dec, 2021

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Banano

In order to be able to swap wBAN from/to other crypto, there is a need for liquidity providers. Since liquidity providers are taking risks (in the form of impermanent loss), some farms are running to provide rewards proportional to the liquidity they provide. “Benis” is the smart-contract in charge of distributing those rewards.

Benis will start lowering its rewards after January 1, 2022.

The new batch of rewards for the next 28 days (January 1 -> January 29) will be 350k wBAN.

350K of Banano rewards will be distributed (January 1-January 29)

The 6 month anniversary NFT airdrop can no longer be claimed.

Over 500 NFTs were claimed!
Total supply of the airdropped NFTs are:

Look out for future NFT rewards in the future!

Some notable statistics:

  • wBAN distributed more than 6M BAN so far as farm rewards (4M on BSC, 2M on Polygon)
  • During the last big pump wBAN had daily volumes higher than $500k
  • A LOT of monkeys learned DeFi through wBAN and became confident enough to use other DeFi apps
  • Plenty of monkeys joined the ban fam from wBAN on PancakeSwap

wBAN Holders count: (excluding users where all their wBAN are in the farms)

  • Binance Smart Chain: 3357 wBAN holders
  • Polygon: 769 wBAN holders

wBAN is short for Wrapped Banano. The main idea is that you wrap your Banano as wBAN tokens, and unwrap wBAN tokens back to Banano crypto. This allows you to use a representation of Banano on other blockchain networks! wBAN is currently available on the Binance Smart Chain and Polygon. See wBAN FAQ for more details.

wBAN was created to connect Banano to the wider smart-contracts / DeFi ecosystem. We love seeing monkeys learning and participating in DeFi, and we welcome new users coming onboard Banano!



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