Banano is a well known meme coin that is a fork of NANO (XNO) making it feeless to transact and instant. Work has been done to give more utility to Banano than just to be a meme coin used for tipping, memes and a easy way for people to introduce themselves into crypto.
After successfully being introduced in the polygon blockchain as wrapped banano (wBAN), Banano is now live on the Fantom (FTM) blockchain as wrapped banano aswell. SpookySwap and Banano teamed up to bring wBAN to the yield farming ecosystem of Fantom.
Although Banano is feeles by itself, when wrapped on another chain it´s subjected to that chain fees, meaning that to transact wrapped banano you have to pay the fees on the Polygon or Fantom blockchain.
If you want to wrap your Banano on Fantom, you must first bridge it on fantom.banano.cc, this will transform your Banano in wrapped Banano on the Fantom chain. If you don´t want to bridge you Banano you can just buy some wBAN directly on SpookySwap.
Right now there are two pools on SpookySwap on which you can provide liquidity, wBAN-USDC and wBAN-Fantom. After you provide liquidity to these pools you will receive your LP tokens that can be staked on the wBAN-USDC farm or on the wBAN-Fantom farm, depending on which pool you provided liquidity before. These two farms will pay you wBAN as a reward. Each of these farms are filled up 600k wBAN that will be distributed untill April 2.
Wrapped Banano brings decentralized finance to Banano, allowing investors to earn more by staking their investment. As always providing liqidity comes with some risks and investors have to keep an eye on the volatility of prices.
This meme coin started as exactly that, a meme coin, but it keeps evolving and keeping up with the space. The team is very active and the community is one of the best on the crypto space. Giveaways are done a lot of times, you just have to keep an eye on the official channels like their Reddit and their Discord. There´s a Banano bot that pays tips to Reddit users, this enables users to tip other users on Reddit for their content. This is a great way for people to start their experience with Banano for free. There is also a Reddit faucet that pays some Banano to users every week, that´s another excellent way to discover Banano.
Banano is sitting on rank 983 by market capitalization and its price is 0.0097$, although it may seem just a meme coin, the ecosystem is growing and there´s actually some utility to this coin. It surely seems to deserve a lot more than just rank 983 by market capitalization.