ApeX is a decentralized and non-custodial derivatives protocol that facilitates the creation of perpetual swap markets for any token pair. With ApeX, users can trade crypto derivatives directly on the Ethereum blockchain without any intermediaries. The protocol offers unlimited flexibility as users can create markets on any underlying asset while maintaining control of their private keys.
ApeX empowers traders around the world with open and transparent financial tools that can help preserve and grow their wealth. It aims to drive financial inclusion and make crypto-derivatives trading more accessible, so that everyone can own their trades and be part of the exchange.
Key features of the ApeX Protocol include:
- Permissionless Cryptocurrency perpetual contract trading with leverage
- Elastic Automated Market Maker (eAMM)
- Protocol Controlled Value
Find more information about ApeX on theGitbook.
Elastic Automated Market Maker (eAMM)
ApeX operates on an Automated Market Maker (AMM) model with the Constant Product Formula being the core of price discovery. However, ApeX adopts a novel approach known as the Elastic AMM (eAMM). The eAMM provides a spot-like trading experience and significantly improves capital efficiency by allowing single-asset provision as the BASE Asset while synthesizing the QUOTE asset.
For an in depth explanation of how eAMM works, visit our Gitbook.
Protocol Controlled Value (PCV)
The Protocol Controlled Value (PCV) model aims to solve the ‘mercenary capital’ issue that often plagues most DeFi protocols. In a PCV model, all assets locked in smart contracts are ultimately owned by the protocol and not redeemable by users. This approach guarantees liquidity of each perpetual contract market and users can rest easy knowing that no liquidity provider can pull out the protocol-owned liquidity.
Read more about the Protocol Controlled Value model on our Litepaper.
ApeX is the native token of the protocol with a maximum supply of 1,000,000,000. The token serves the following utilities:
- Governance: Token holders can submit and vote on protocol governance proposals.
- Protocol Incentivization: Users can earn ApeX tokens through participation rewards and liquidity mining on the ApeX protocol.
- Staking: Users can stake ApeX tokens to earn rewards in ApeX tokens.
ApeX token distribution is as follows:
Project Launch and Roadmap
ApeX will launch a mainnet in March 2022, as well as an NFT sale where participants would be able to mint an NFT which grants them ApeX tokens — https://apex.exchange/nft
Once launched, our first objective is to secure liquidity of the protocol through our liquidity bootstrapping initiatives. For the first half of 2022, we will focus on building the core foundations of the ApeX protocol, including:
- Bonding Program & V1 Launch
- Advanced Trading Experience
- Multi-Chain Deployment
Stay tuned for more updates on ApeX.