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 unveiled significant advancements aimed at fortifying its position in the decentralized finance (DeFi) space. These strategic initiatives seek to enhance the project's standing and increase the value of its native token - $APEX, aligning more accurately with its overarching objectives and reflecting the platform's commitment to sustainable growth.
In the past month alone, the value of $APEX has surged by an astonishing 768.63%, reflecting the growing demand and confidence in ApeX Protocol. The core team is now gearing up for transformative changes, further optimizing the tokenomics model of $APEX for the community's benefit and overall project value.
$APEX Total Supply Reduction
ApeX Protocol is embarking on a strategic initiative to reduce the total token supply by 50%, from 1,000,000,000 to 500,000,000 $APEX. The first burn event, which took place on Jan 18, 2024, reduced the total supply to850,000,000 $APEX. Consecutive token burns are planned for the first month of each following quarter, further enhancing the scarcity and value proposition of $APEX.
Liquidity Pools and LP Incentives
Apart from the supply reduction, ApeX is introducing a pivotal initiative this year by launching APEX-ETH liquidity pools on top-tier decentralized exchanges (DEXs) and empowering liquidity providers to engage in ApeX revenue sharing, earning real yields.
Collaborating with leading DEXs on various 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 on each chain. This approach ensures a broad reach, fair distribution, and active contribution to the growth and expansion of the ApeX ecosystem. Beyond ApeX revenues, liquidity providers will also receive additional joint rewards in the respective native tokens of both the hosting DEX projects and ApeX itself.
Staking Program Upgrade
Finally, the ApeX Staking Program will also undergo some changes, with a focus on rewarding loyal contributors. The program currently supports $APEX and $esAPEX pools, offering users a passive income generation mechanism through revenue sharing. With no lock-in periods-flexibility to stake and unstake at any point, real yield distributed in USDC on a weekly basis, and a dynamic reward calculation mechanism that considers not only time and the amount staked, but also trading activities on ApeX Pro-contribute to a fair and rewarding passive income generation.
To enhance the current pool structure, ApeX will be introducing a lock-in feature, allowing users to lock their token holdings in respective pools for extended periods. This feature is designed to boost earnings, providing users with enhanced revenue shares for their commitment to the ApeX ecosystem.
Road Ahead
Tekla I, the Head of Business Development at ApeX Protocol, expressed enthusiasm about the developments, stating, "These strategic initiatives mark a significant step forward for ApeX Protocol. We are dedicated to creating value for our community, and these enhancements reflect our commitment to delivering 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 derivatives decentralized exchange, powered by StarkWare's Layer 2 scalability engine StarkEx, delivering USDC and USDT cross-margined perpetual contracts with over 30 trading pairs and up to 50x leverage. It is primed to provide permissionless 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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SOURCE: ApeX
View the original press release on accesswire.com