Outside Source
[PRESS RELEASE – Saint Vincent and, the Grenadines, November 21st, 2023]
ApeX Protocol, one of the leading permissionless and non-custodial derivatives decentralized exchanges (DEX), is proud to announce its first-year anniversary, marking a year of remarkable achievements, strategic partnerships, and exciting roadmap unveilings. ApeX will be celebrating this milestone with a 2-week-long celebration, with 25,000 USDC and 50,000 APEX in rewards.
Accomplishments: Decentralized Innovation at its Best
In just 12 months, ApeX has solidified its position as a leader in the DeFi space, offering both USDC and USDT cross-margined perpetual contracts with up to 50x leverage on over 25 trading pairs, boasting over 17B cumulative trading volume and over 29K traders. Built on StarkWare’s Layer 2 scalability engine StarkEx and operating on an orderbook model, ApeX provides a secure, efficient, and user-friendly experience for users.
Apart from developing a DEX, ApeX has also introduced 2 passive income solutions with the launch of the Staking program and Smart Liquidity Pool (SLP — the first-ever market-making liquidity pool on a decentralized orderbook DEX). With an average staking APY of 26.5%, participants have earned over 450K USDC via revenue-sharing since the program’s launch, actively partaking in the success of the project. With an average APR at 18.85%, SLP has empowered retail users to access market-making strategies with a minimum $100 deposit and contribute liquidity to the platform, while passively earning fees in USDC.
What’s more, ApeX has introduced the first ever decentralized and self-custodial trading bot on Telegram and also formed a series of strategic partnerships with prominent market players such as Bybit, Mantle, Arbitrum, etc., to expand the ecosystem and enrich user experiences. Other notable collaborations include teaming up with algorithmic trading software like Astrabit, market research platform X-explore for detecting and preventing wash trading and Sybil attacks, and oracle network services provider Stork for precise and reliable price data feeds.
Celebrations: 25K USDC and 50K APEX in Rewards
To celebrate this significant milestone, ApeX is hosting a two-week extravaganza with 25,000 USDC and 50,000 APEX up for grabs, including a special 1-year anniversary trading competition, triple-boosted staking rewards, engaging social media games, and recognition for outstanding community members who have contributed significantly to the platform.
The Roadmap: The Journey Continues
Looking ahead, ApeX is gearing up to introduce exciting further developments:
- Web3 Social Trading: ApeX is poised for significant developments in social trading, including the upcoming launch of DIDs, SBT minting event, and the introduction of copy trading, along with other social trading tools. These innovations are meant to provide users with enhanced avenues for collaboration and shared success.
- Tokenomics Updates: Furthermore, ApeX is preparing to restructure its tokenomics to optimize the model for the community’s benefit and overall project value, with 3 key initiatives:
- First, a strategic reduction in the $APEX supply from the treasury, initially targeting 10-15% of the total supply;
- Second, the introduction of a Buyback and Burn Mechanism to empower APEX holders with seamless token swaps directly on ApeX;
- Lastly, bootstrapping APEX-ETH liquidity pools on top-tier DEXs and enabling liquidity providers to participate in ApeX revenue sharing by earning yields in USDC.
As ApeX celebrates its first year, the journey ahead looks even more promising. “ApeX’s first year has exceeded our expectations, and we’re thrilled to continue pushing the boundaries of decentralized finance. This anniversary is a testament to the incredible community that has shaped ApeX into what it is today. Our accomplishments and partnerships showcase collective effort and passion driving decentralized excellence, while our roadmap reflects our commitment to innovation and provides users with a seamless, rewarding trading experience,” shared Tekla I, the Head of Business Development at ApeX Protocol.
With a focus on user-centric innovations, strategic collaborations, and a commitment to decentralized excellence, ApeX remains at the forefront of shaping the future of decentralized finance.
About ApeX
ApeX is a non-custodial trading platform that delivers limitless cross-margined perpetual contracts to its metacommunity under a new social trading framework. It is primed to provide unlimited access to the perpetual swaps market with its order book model, as it remains committed to the promises of speed, efficiency, and security with transparency on traders’ preferred derivatives trading assets.
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This article first appeared at CryptoPotato
