ApeSwap Telos Review: In‑Depth Look at the Crypto Exchange on Telos
ApeSwap Telos Pool Performance Calculator
Pool Analysis Tool
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Pool Information
BANANA/TLOS
Liquidity: ~$10k
Volume: $0
High Slippage Risk
ETH/TLOS
Liquidity: ~$15k
Volume: $0
High Slippage Risk
BTC/TLOS
Liquidity: ~$12k
Volume: $0
High Slippage Risk
USDT/TLOS
Liquidity: ~$15k
Volume: $0
High Slippage Risk
USDC/TLOS
Liquidity: ~$14k
Volume: $0
High Slippage Risk
TLOS/USDT
Liquidity: ~$18k
Volume: $0
High Slippage Risk
When it comes to decentralized trading on the Telos a fast, low‑fee blockchain that launched in 2018, the platform that often pops up is ApeSwap a multi‑chain Automated Market Maker (AMM) and yield‑farm protocol originally built on Binance Smart Chain. This article walks through every major piece of the ApeSwap Telos review, from how the exchange works to its real‑world performance on Telos in 2025.
Key Takeaways
- ApeSwap brings a full DeFi suite to Telos, but daily trading volume sits at $0, indicating almost no active users.
- The native BANANA ApeSwap’s utility and governance token can be bridged to Telos, yet liquidity is shallow across the six main pools.
- Fees are low (0.2% total) and include a 0.05% reward for liquidity providers, but low volume means slippage can be high for larger swaps.
- Yield‑farm options such as Telos Farms and Treasury Bills exist, but APRs are hard‑to‑verify because they depend on trading fees that are currently minimal.
- Compared with the leading Telos DEX Swapsicle V2, ApeSwap ranks seventh and struggles to attract traders.
What Is ApeSwap on Telos?
ApeSwap a decentralized finance platform that offers swapping, liquidity provision, yield farming, and staking expanded onto Telos in October2022 through a joint‑revenue‑sharing partnership with the Telos Foundation. The platform is governed by the ApeSwap DAO a community‑driven Decentralized Autonomous Organization, which decides tokenomics, fee allocation, and roadmap priorities.
Security is handled by the audit firm Paladin a reputable blockchain security company, which reviewed both the smart‑contract code and the bridge that moves BANANA between networks.
How The Exchange Works on Telos
At its core, ApeSwap on Telos functions as an AMM. Users supply equal values of two tokens to a liquidity pool and receive LP (Liquidity Provider) tokens in return. When a swap occurs, the constant‑product formula (x*y=k) determines the price, while a 0.2% fee is taken from each trade.
The fee distribution looks like this:
- 0.075% → buybacks and token burns
- 0.0375% → ApeSwap Treasury
- 0.0375% → Telos Foundation
- 0.05% → liquidity providers (distributed proportionally via LP tokens)
Because the total fee is modest, the protocol’s sustainability hinges on high trade volume-a factor that currently works against the Telos implementation.
Available Pools and Liquidity
ApeSwap currently lists six major Telos pools: BANANA, ETH, BTC, USDT, USDC, and TLOS. Liquidity depth is thin; for example, the BANANA/TLOS pool holds roughly $10k worth of assets, while the USDT/TLOS pool is slightly larger at $15k. These numbers translate into noticeable price impact for swaps above $500.
Yield Farming & Treasury Bills
Beyond simple swaps, ApeSwap offers two primary earn‑mechanisms on Telos:
- Telos Farms: Stake your LP tokens and earn TLOS rewards. The reward rate is a function of the pool’s fee earnings, so low volume means low TLOS payouts.
- Treasury Bills: Users can sell LP tokens back to the protocol at a discounted price, effectively buying TLOS at a lower rate. This feature is attractive only when the protocol holds enough treasury assets, which is currently limited.
Both options list APRs in the UI, but the figures are dynamic and can swing wildly as transaction fees fluctuate.

Performance Compared to Other Telos DEXs
According to CoinGecko data from October2025, the Telos DEX market generated about $742 in daily volume across all platforms. ApeSwap’s share is effectively $0, placing it seventh out of eight exchanges. The market leader, Swapsicle V2 a native Telos AMM with deep liquidity pools, controls roughly 64.6% of that volume.
DEX | 24‑h Volume (USD) | Market Share | Key Feature |
---|---|---|---|
Swapsicle V2 | 480 | 64.6% | Deep pools, low slippage |
ChronosSwap | 120 | 16.2% | Integrated lending |
PulseSwap | 70 | 9.4% | Cross‑chain bridge |
ApeSwap | 0 | 0.0% | Multi‑chain ecosystem |
Other DEXs | 72 | 9.8% | Varied UI designs |
User Experience: UI, Wallet Support, and Fees
The ApeSwap interface feels familiar to anyone who has used the BSC version. Navigation tabs include Swap, Liquidity, Farms, and Treasury. The design is clean, with large buttons and real‑time price quotes.
To interact on Telos, you need a Web3 wallet that supports the network - for example Scatter a Telos‑compatible wallet or the more recent MetaMask (Telos RPC) MetaMask configured with a Telos RPC URL. After connecting, users must hold a small amount of TLOS to cover the 0.2% trading fee.
Because gas on Telos is essentially free, the fee structure is the only cost users encounter. However, the lack of liquidity means that a 0.5% slippage setting often triggers “Insufficient liquidity” errors for swaps over $1,000.
Strengths and Weaknesses
Strengths
- Low on‑chain transaction fees thanks to Telos’s architecture.
- Comprehensive DeFi toolbox (swap, farm, Treasury Bills) in a single UI.
- Robust security audit by Paladin.
- Cross‑chain bridge enables BANANA movement between BSC, Polygon, and Telos.
Weaknesses
- Almost non‑existent daily trading volume leads to high price impact.
- Yield‑farm rewards are volatile and currently negligible.
- Community activity on Telos is sparse; most discussions happen on BSC channels.
- Revenue‑sharing partnership with Telos ended in 2024, removing a key incentive.
Who Should Consider Using ApeSwap on Telos?
If you already hold assets on Telos and want a single dashboard to swap tokens, provide liquidity, and experiment with yield farming, ApeSwap could be convenient. It’s also a good test‑bed for developers looking to deploy smart contracts on a low‑cost ecosystem.
Conversely, traders seeking deep liquidity, low slippage, or high fee‑based rewards should look at Swapsicle V2 or even move to larger networks like BSC or Ethereum, where volume is orders of magnitude higher.
Future Outlook
The Telos network has announced several roadmap items for 2025, including a new cross‑chain router that could bring liquidity from Polygon and BSC into Telos pools. If those bridges succeed, ApeSwap’s existing infrastructure would be ready to capture inbound flow. Until then, the platform remains a strategic foothold rather than a day‑to‑day DeFi hub.
Analysts suggest that multi‑chain projects need a “critical mass” of at least $1M in pooled assets to become self‑sustaining. ApeSwap’s Telos pools are still well below that threshold, so a near‑term surge in activity looks unlikely without a major partnership or incentive program.
Frequently Asked Questions
Is ApeSwap on Telos safe to use?
Yes. The smart contracts were audited by Paladin, and the platform uses the same audited codebase as the BSC version. However, the low liquidity means you could face higher slippage or failed transactions, which is a functional risk rather than a security one.
How do I connect a wallet to ApeSwap on Telos?
Install a Telos‑compatible wallet like Scatter or add a Telos RPC to MetaMask. Then go to the ApeSwap UI, click “Connect Wallet,” and approve the connection. You’ll need a small amount of TLOS to pay the 0.2% transaction fee.
Can I earn BANANA rewards on Telos?
BANANA is the reward token for liquidity provision on all networks, including Telos. Because trading fees are near zero, the effective BANANA yield is currently very low, but you will still receive a proportionate share of the 0.075% buyback‑burn pool.
What’s the difference between ApeSwap and Swapsicle V2 on Telos?
Swapsicle V2 holds the majority of Telos’s liquidity and offers deeper pools, resulting in lower slippage. ApeSwap provides a broader feature set (farms, Treasury Bills, cross‑chain bridge) but currently suffers from almost no trading volume.
Will the revenue‑sharing partnership with Telos restart?
The initial 12‑month agreement ended in late 2024. There have been no public announcements about a renewal, so any future revenue‑sharing would depend on a new negotiation between ApeSwap and the Telos Foundation.
23 Comments
kishan kumar
January 27, 2025 at 16:53
Contemplating ApeSwap's Telos venture reveals a subtle dialectic between promise and paucity; the platform boasts a sophisticated DeFi suite yet its liquidity mirrors a desert oasis 🙂. One might argue that the very architecture of Telos-low fees and rapid finality-should engender vibrant trade, but the empirical data paints a starkly opposite tableau.
Peter Johansson
January 28, 2025 at 10:27
Hey folks, great breakdown! If you already hold TLOS, ApeSwap can still be a useful sandbox for testing swaps and farms. Think of it as a training ground-once you get the hang of the UI, moving to deeper liquidity pools on other chains becomes second nature.
Keep experimenting, and share your findings!
Chris Hayes
January 29, 2025 at 04:00
The review hits the nail on the head: a multi‑chain AMM without the essential volume is nothing more than a glorified token locker. Low fees are meaningless when every trade incurs massive slippage; the protocol’s fee model simply cannot survive on a $0 daily volume.
victor white
January 29, 2025 at 21:34
One could suspect that the silence surrounding ApeSwap’s Telos incarnation is not merely a market failure but a deliberate veil, a cryptic choreography orchestrated by unseen hands. The liquidity pools sit like phantom ships in a misty harbor, visible yet inaccessible.
mark gray
January 30, 2025 at 15:08
Honestly, if you just want a simple place to swap a few tokens on Telos, ApeSwap will do the job. Just remember the slippage can get pricey if you’re moving more than a few hundred dollars.
Jack Fans
January 31, 2025 at 08:42
Alright, let me break this down for you, folks: ApeSwap on Telos offers a UI that's familliar, a fee structure that's low, and a cross‑chain bridge- but the liquidity?? It's practically non‑existant, which means high slippage, which means you could lose more than you think, especially if you’re not careful. Also, the audit by Paladin is a plus, but audits don’t fix thin pools. So, proceed with cautoin! :)
Gaurav Gautam
February 1, 2025 at 02:16
From a developer’s standpoint, the fact that ApeSwap already has the scaffolding on Telos is a win. You can deploy your own smart contracts with almost zero gas costs, and the bridge lets you move BANANA around. The downside? Without enough traders, any LP you provide will earn near‑zero rewards, so you might want to test with small amounts first.
Robert Eliason
February 1, 2025 at 19:49
Sure, the article says the fees are low, but who cares when every swap over $500 just hits a wall? It's like trying to run a marathon on a treadmill that’s stuck. If they want users, they need real volume, not just pretty charts.
Alie Thompson
February 2, 2025 at 13:23
It is a matter of philosophical gravity that a platform, however technologically elegant, cannot escape the fundamental law of market economics: without participants, there is no exchange of value. The ApeSwap deployment on Telos, adorned with audited contracts and a low‑fee promise, stands as a monument to unfulfilled potential. One must consider the ramifications of a $0 daily volume in a universe where liquidity is the lifeblood of any DeFi protocol. The shallow pools-BANANA/TLOS at roughly $10k, ETH/TLOS at $15k-are insufficient to sustain even modest arbitrage opportunities. Consequently, the slippage becomes an ever‑present specter, hovering above swaps above $500, thereby dissuading the very traders needed to invigorate the system. Moreover, the reward mechanisms, while theoretically sound, are rendered impotent when fee accrual is near nil. This creates a feedback loop: low rewards deter liquidity provision, which in turn suppresses volume, perpetuating the stagnation. The comparison to Swapsicle V2, which commands a 64.6% market share with deep pools, underscores the disparity in user confidence and network effect. While ApeSwap boasts a multi‑chain bridge-a commendable architectural feature-it lacks the critical mass to channel cross‑chain liquidity effectively. In short, the platform is a well‑crafted vessel stranded in a desert; without a rain of traders, its sails will never catch wind.
Samuel Wilson
February 3, 2025 at 06:57
I commend the thoroughness of the review. For anyone considering ApeSwap on Telos, weigh the low transaction costs against the current liquidity constraints. If your strategy is experimental or educational, the platform remains a valuable tool.
Rae Harris
February 4, 2025 at 00:31
Look, the whole thing feels like a KYC‑free sandbox that never graduated to production. You’re basically testing API endpoints with no real order flow. If you’re into tokenomics theory, fine-otherwise, skip it.
Danny Locher
February 4, 2025 at 18:05
The UI is clean and easy to use, but the lack of depth means you’ll hit “insufficient liquidity” errors quickly. Good for tiny swaps, not for serious trading.
Fiona Chow
February 5, 2025 at 11:38
Oh great, another “feature‑rich” DEX that pretends depth is optional. Yeah, enjoy your $0 volume while the rest of us chase real markets.
Rebecca Stowe
February 6, 2025 at 05:12
Nice effort, but the numbers just don’t add up.
mannu kumar rajpoot
February 6, 2025 at 22:46
There’s a hidden agenda here, no doubt. The partnership ended in 2024, yet the platform remains, as if awaiting some silent back‑door injection of capital. Until that happens, it’s just a ghost town.
Tilly Fluf
February 7, 2025 at 16:20
While the current metrics appear bleak, one must remain optimistic that forthcoming cross‑chain routers could revitalize ApeSwap’s Telos ecosystem. The foundational architecture is sound; patience may be rewarded.
Darren R.
February 8, 2025 at 09:54
Behold! A saga of ambition and disappointment! The curtains rise on ApeSwap’s Telos stage-audited, elegant, yet starved of audience. Will the next act bring a chorus of traders, or shall the spotlight dim forever?
Shanthan Jogavajjala
February 9, 2025 at 03:27
From a technical perspective, the AMM implementation is textbook, but the market‑making liquidity is insufficient to sustain meaningful arbitrage spreads. Without depth, the fee‑revenue model collapses into a null set.
Millsaps Delaine
February 9, 2025 at 21:01
It is truly baffling how a platform that touts a cross‑chain bridge can exist in such a barren liquidity landscape. The promise of multi‑chain interoperability is alluring, yet the practical reality is a barren desert of trade. One could argue that the developers are caught in a paradox of ambition versus execution. In the end, without a critical mass of users, even the most sophisticated protocols become mere decorative artifacts, admired from afar but never truly functional.
Krithika Natarajan
February 10, 2025 at 14:35
ApeSwap on Telos works but liquidity is thin. Use small amounts.
Ayaz Mudarris
February 11, 2025 at 08:09
Esteemed community, let us reflect upon the strategic implications of deploying capital into a nascent AMM with presently limited depth. While the allure of low transaction costs is undeniable, a prudent allocation strategy would involve modest exposure paired with vigilant monitoring of forthcoming liquidity incentives.
Irene Tien MD MSc
February 12, 2025 at 01:43
Ah, the grand illusion of “innovative DeFi” – a phrase tossed around like confetti at a parade that never arrives. The colorful promise of cross‑chain magic is eclipsed by a stark reality: zero daily volume, perpetual slippage, and a community that seems to have vanished into the ether. If you enjoy watching a ship sail without a crew, then ApeSwap on Telos is your perfect spectacle.
Anthony R
February 12, 2025 at 19:16
In summary, the platform offers a familiar interface, audited contracts, and low fees; however, liquidity remains essentially non‑existent, leading to high slippage; consequently, the utility for serious traders is minimal; users may still find it useful for small‑scale experiments.