Author: Vladislav Goncharov

Updated: August 18, 2022

Disclaimer

Audited projects cannot be considered safe/unsafe based on the current audit. Audit intentionally focuses not on the code itself but on the overall project. The report should not be used in any way to make decisions around investment or involvement with any particular project. This report in no way provides investment advice, nor should it be leveraged as investment advice of any sort. The report is not, nor should be considered, an “endorsement” or “disapproval” of any particular project or team.

Description

Team of developers which deploy fork of the Compound for a client. They have their own web application for which they can apply the branding of clients. Mostly used by already existing projects in different EVM compatible networks for fastly deploying lending protocol.

The b2b project in a crpyto on early stage. Works without direct product.. Adjust code per client.

Key Points

• Fork of Compound

• They generate profit by splitting fees generated by partner

  • The exact number not said
  • In some cases, they use their part of fee to buyback partner token

• The main product - ApeSwap Lending, is five times bigger than any other client

• Also, have lending for different clients

  • Spiritswap
  • Hector
  • KnighSwap
  • Frax
  • Oolong
  • BeamSwap

• Main blockchain - BSC, there located ApeSwap and KnighSwap

• Also, have projects in

  • Fantom Opera - there second biggest client Hector, and also Spiritswap
  • Moonbeam - two tiny clients, BeamSwap and Frax
  • Boba - also very tiny client OolongSwap

• Launched probably in March 2021

• Protocol TLV - $42 millions, only by their information

  • Can it be cheated? - Yes, real TLV is much less, probably around $20 millions

• Market Capitalisation - Unknown

• [ ] Using a multi-sig wallet for access to contracts and treasury (?)