What is APYSwap (APYS)?

APYSwap is a protocol for decentralized cross-chain exchange of shares of Tokenized Vaults. It implements a delegation function for user assets and provides a marketplace for trading financial assets. APYSwap allows users on multiple blockchains (initially Ethereum, Polkadot and Binance Smart Chain) to create and control their native blockchain vaults and transfer the ownership to third parties. Users may also benefit from passive income without actively managing their portfolio. APYSwap’s alpha version is already available and beta version on Ethereum’s mainnet is coming in March 2021.

Who are the founders of APYSwap?

The project is co-founded by CEO, Andriy Velykyy, Warwick Business School alumni (MSc in IT management), and CTO, Yuriy Savchenko, an IT specialist with more than 20 years of IT and more than 15 years of software development teams management experience. The two met in 2017 when they worked on the project focused on cryptocurrencies’ integration into the POS terminals. After the crypto winter of 2017, they switched their focus to a different project – development of a non-custodial multi-currency wallet. After noticing the significant rise in DeFi projects’ popularity in 2020, Andriy came up with an idea of APYSwap. He invited Yuriy to join as his partner, co-founder and CTO to develop a product, which offered sets of DeFi projects’ portfolio assets. Users would also have the option of purchasing portfolio of portfolios. They would not need to trust a single expert’s opinion – they could combine the shares of various DeFi portfolios with assets they control and whose private keys they own. This way they decentralize their risks and combine a variety of different portfolios offered by the APYSwap’s platform. This became the vision of the APYSwap project.

Who is backing APYSwap?

APYSwap has recently completed a $1.8M Private Investment Round, backed by NGC Ventures, Asymm Ventures, Genesis Block Ventures, Kyros Ventures, Hillrise Capital, Astronaut Capital, Black Mamba Ventures, AngelOne, Gestalt Capital. This lays the ground for a solid foundation and supports the long-term project development.

APYSwap token:

APYSwap tokens are used to safeguard and govern the APYSwap’s ecosystem. They ensure that only the reputable DeFi projects are available on the marketplace. Their role is to provide an insurance utility. Projects, interested in listing at the APYSwap’s marketplace, will have to purchase APY tokens and lock them. There is a total token supply of 100,000,000 APYSwap tokens. In early March 2020 token will be available for purchase at Uniswap’s ETH pool

What are the project’s use cases?

Delegated Asset Management - APYSwap recreates the traditional FinTech user experience, simplifies yield farming and reduces its cost without sacrificing the decentralization of assets’ ownership.
Financial Product Issuance - APYSwap offers portfolio managers a wide range of tools for financial product design. By leveraging lending protocols, they can also create a DeFi index fund, generating dividends.
Delegated governance - token holders are incentivized to participate in the delegated governance by means of token rewards. They may delegate their voting power to whitelist new DeFi projects on the platform. In addition, there are also incentives to participate in voting regularly and long-term, since the token’s vote value is influenced by the historic voting activity of the user, as well as the period the token was held for.

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