SAINT VINCENT and the GRENADINES / ACCESSWIRE / January 30, 2023 / ApeX Protocol, a leading permissionless and non-custodial decentralized exchange (DEX) in the cryptocurrency market, has announced significant advancements aimed at strengthening its position in the decentralized finance (DeFi) space. These strategic initiatives aim to improve the project's reputation and increase the value of its native token – $APEX – which is more closely aligned with its overall goals and reflects the platform's commitment to sustainable growth.
In the last month alone, the value of $APEX has risen astonishingly 768.63%, reflecting the growing demand and trust in the ApeX protocol. The core team is now preparing for transformative changes and further optimizing $APEX’s tokenomics model for the benefit of the community and the overall value of the project.
$APEX overall supply reduction
The ApeX Protocol is launching a strategic initiative to do so Reduce the total token supply by 50%, from 1,000,000,000 to 500,000,000 $APEX. The first burn event, which occurred on January 18, 2024, reduced the total supply to $850,000,000 APEX. Consecutive token burns are scheduled for the first month of each subsequent quarter, further increasing the scarcity and value proposition of $APEX.
Liquidity pools and LP incentives
Aside from the supply reduction, ApeX is introducing a key initiative this year by launching APEX ETH liquidity pools on top-tier decentralized exchanges (DEXs), giving liquidity providers the opportunity to participate in ApeX's revenue share, thereby earning real returns.
By partnering with leading DEXs across multiple chains, such as Camelot on Arbitrum and AGNI on Mantle, ApeX is strategically positioned to offer tailored incentive programs and revenue sharing opportunities to diverse communities across each chain. This approach ensures wide reach, fair distribution and active contribution to the growth and expansion of the ApeX ecosystem. Beyond ApeX's earnings, liquidity providers also receive additional shared rewards in the form of the respective native tokens of both the hosting DEX projects and ApeX itself.
The story goes on
Staking program upgrade
Finally, the ApeX staking program will also see some changes, with a focus on rewarding loyal contributors. The program currently supports $APEX and $esAPEX pools and provides users with a passive income generation mechanism through revenue sharing. There are no lock-up periods, the ability to place and remove stakes at any time, the real return is distributed weekly in USDC, and a dynamic reward calculation mechanism that takes into account not only the time and amount staked, but also trading activity on ApeX Pro. Contribute to fair and rewarding passive income generation.
To improve the current pool structure, ApeX will introduce a locking feature that will allow users to lock their token holdings in the respective pools for longer periods of time. This feature is intended to increase revenue and provide users with a higher revenue share for their engagement in the ApeX ecosystem.
Road ahead
Tekla I, Head of Business Development at ApeX Protocol, expressed excitement about the developments, stating: “These strategic initiatives represent a significant step forward for ApeX Protocol. We are committed to creating value for our community and these improvements reflect our commitment “Providing a robust and sustainable DeFi ecosystem.”
ApeX Protocol remains at the forefront of innovation through its commitment to strategic tokenomics and aggressive product development, directly influencing the value of its native token – $APEX.
About ApeX
ApeX is a permissionless and non-custodial decentralized derivatives exchange built on StarkWare's Layer 2 scalability engine StarkEx, providing perpetual USDC and USDT margin contracts with over 30 trading pairs and up to 50x leverage. The company is poised to provide permissionless access to the perpetual swaps market with its order book model as it remains committed to its promises of speed, efficiency and security with transparency across traders' preferred derivatives trading assets.
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SOURCE: apex
View the original press release at accesswire.com
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