Proposal to Upgrade Meta Apes’s ($PEEL) Liquidity Pair for Farm Rewards from v2 to v3

Upgrade of Meta Apes’ Liquidity Pair for Farm Rewards from v2 to v3

We are proposing to shift Meta Apes’ Farm rewards from the current PEEL-BUSD v2 LP to the new PEEL-BUSD v3 LP.

We believe that transitioning to the PEEL-BUSD v3 pair will further incentivize the liquidity for the PEEL token, and support healthy trading volumes for PancakeSwap. As a result of the concentrated liquidity model, the same amount of liquidity in v3, compared to v2, can support significantly larger trades.

For example, for a $500 trade, with a liquidity of $200,000 in the pool, v3 is about 8x more efficient than v2. (Assuming the v3 liquidity was added across a price range of +/- 25% of the current PEEL price.)

To ensure a smooth transition between v2 and v3 pairs, there will be an overlap of one day where there will be incentives directed towards both farms. This will occur on 4 May 2023.

After 0730 UTC on 4 May 2023, only the v3 pair will receive incentives, so users are encouraged to migrate in advance of this time.

The New Farm:

The proposed new Farm will have doubled emissions for the first 7 days. For example, if the v2 farm emits 10 CAKE per day, the proposed v3 farm will emit 20 CAKE per day for the first 7 days and 10 CAKE per day thereafter.

Other differences are the change of the liquidity pair and moving from the v2 farm to the v3 farm.

Previous v2 Farm:

• Stake PEEL-BUSD LP, earn CAKE
• 0.2x multiplier
• 9 CAKE per day

New v3 Farm (0.25% fee tier):

• Stake PEEL-BUSD LP, earn CAKE
• 0.5x multiplier (1x multiplier for the first 7 days)
• 18 CAKE per day for the first 7 days and 9 CAKE per day thereafter

In the future, the farm will be re-adjusted to a 0x multiplier unless the following metrics are comparable with other 0.5x multiplier farms: average daily volume, 14-day volume, unique token holders on BNB Chain, and there are no fundamental token issues or concerns related to users’ safety and security.

Key timelines

• Launch of PEEL-BUSD v3 farm: Approx. 0730 UTC on 4 May 2023
• Sunset of PEEL-BUSD v2 farm: Approx. 0730 UTC on 5 May 2023

How to migrate?

Please remember to shift your LP to the new farm before the v2 farm sunsets.

Please refer to the following link for migration instructions

What is Meta Apes?

Meta Apes is a free-to-play, play-and-earn massively multiplayer online (MMO) strategy game designed for mobile and the first game to launch on the BNB Sidechain with their own dedicated chain, Ape Chain.

It is available for download on Apple’s App Store and the Google Play Store – join the growing community of 400K+ players now!

What is $PEEL?

From the team: “PEEL is the governance and the native gas token for the Meta Apes ecosystem.”

⚠️⚠️⚠️BEWARE OF FOOD POISONING⚠️⚠️⚠️

The official PEEL token contract address on Binance Smart Chain is:

https://bscscan.com/token/0x734548a9e43d2D564600b1B2ed5bE9C2b911c6aB

​Any other PEEL token will be a scam. Always verify the token address before buying tokens. If you receive a PEEL token airdrop from another address, it’s probably a scam, and we advise you to ignore it.