Wrapped Banano (wBAN) Zaps
Jan 17, 2023 • 4 min read
A new release of the dApp (v2.6.0) is now available and brings plenty of new features and improvements.
Zap in / Zap out
This is the major feature introduced in the version.
Due to high gas prices, we couldn't test zaps on Ethereum.
You can still deposit the "old way" if you want to wait for an official confirmation this is working on Ethereum as well.
Zaps on all other networks have been sucessfully tested!
When compounding your hard earned wBAN you had to manually perform plenty of actions:
- swap half of your earned wBAN, via the DEX page
- add more liquidity in the pool from wBAN and the other token, via the DEX page
- deposit your liquidity pool token in the farm
Now you can easily zap in from either wBAN or the other token and have most of the process automated for you.
You don't need to open any DEX page anymore.
The process is pretty straightforward:
- zap your tokens (wBAN or the other one) into LP liquidity tokens
A new contract will do for you the swap and provide liquidity (so steps 1. and 2. from above process)
- deposit your LP tokens into the farm
Zap out is almost the same: once you withdraw your liquidity pool tokens from the farm, you will be able to zap out to either wBAN or the other token.
This will remove your liquidity (no need to open a DEX page anymore) and ensure all your liquidity is converted to the zap out token you picked.
So easier process, but also gas savings due a single transaction instead of plenty.
Permit feature is used everywhere it's possible to save even further transaction fees.
Of course you can still do all these actions manually if you prefer, especially if you want to have greater control over slippage.
A lot of work was done regarding mobile clients.
You can now reliably use WalletConnect in multiple scenarios like:
- mobile browser (with no Web3 ability) and mobile Web3 wallet (like MetaMask on mobile)
- desktop browser (with no Web3 ability) and mobile Web3 wallet (like MetaMask on mobile)
All screens have been reviewed for a better mobile UX.
Sometimes even small details like opening Kalium with prefilled addresses can make a whole difference ;)
As you can see from the above screenshot, the topbar has been lightened.
If you want to see the wBAN NFTs or make donations, it is now in the burger menu.
New Bridge Setup Options
Two new options are now available on the setup page:
- Buy wBAN: for those who want to swap but postpone the bridge setup
- Reconnect to Bridge
When you either disconnected from the dApp or started using a new device, you had to partially do the bridge setup again.
Now this is drastically simplified: you only need to sign a message with your Web3 wallet and, voilà, you're good to go!
Plenty of other small details
If you have unclaimed wraps, you'll now see this straight from the main page.
BSC/Polygon/Fantom: farms will keep the actual rate, each, of 300k BAN per round of 4 weeks.
Ethereum/Arbitrum: farms rewards will change on 2023-01-28 3PM UTC to 350k BAN, each, until 2023-02-25 3PM UTC, after which each farm rate will be at the usual juicy rate of 300k BAN per round of 4 weeks, like the other networks.
Iazid helped reviewing the new zap smart-contract.
Majic, PolkaPaca and /dev/aux did a lot of beta-testing.
Plenty of translators will help with the new content.
WhiteFlag (Mr Banano 2022), Udin (udinccc#9589) and Very cute cat (Mx Banano 2022) translated this new version in Spanish, Indonesian and Vietnamese, respectively!
This article has been written by Wrap That Potassium with the help of Kron (Kron#0582 on Discord) and Yekta.
What is wBAN?
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 networks! wBAN is currently available on the Ethereum Mainnet, Binance Smart Chain, Polygon, Fantom and Arbitrum. 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!
What the Fork is Banano?
Banano is a cryptocurrency powered by DAG technology disrupting the meme economy. Banano has feeless and near-instant transactions, free & fair distribution, a highly active community, and active technical development!
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