The $APEX-$BANA Connection
As you dive deep into ApeX Pro offerings, here’s the lowdown on the two tokens underpinning not just ApeX Pro, but also the wider ApeX Protocol ecosystem — $APEX and $BANA. You may be more familiar with the former than the latter, but we’re here to show you the coin-connection to better maximize your trading activity on ApeX Pro today.
Before we get started, here’s a recap. ApeX Protocol, a fully permissionless trading protocol was launched early this year with its initial product offering ApeX eAMM, a decentralized derivatives crypto exchange running on an elastic Automated Market Maker (eAMM) with full spectrum asset support and zero KYC. With that, we also introduced the $APEX token for the very first time — the governance token that would allow holders to take part in decision-making regarding protocol changes and used also to support incentivization programs, including revenue sharing.
ApeX Protocol’s newest addition to its ecosystem — ApeX Pro — delivers perpetual contracts on a DEX with a brand new order book interface and sits right next to ApeX eAMM for traders. ApeX Pro is for the traders who are more familiar with the way trades are submitted and executed on order books, making the shift over to a DEX seamless and trouble-free. Still the same brand of decentralization, transparency and security, but with efficiency and speed added into every transaction powered by StarkWare’s scalability engine StarkEx. Here, we also launched $BANA, a reward token that is utilized as earnings with weekly trade-to-earn events.
ApeX Protocol’s native token $APEX can be used for community-involvement over governance and protocol parameters, as well as revenue sharing with the upcoming staking program.
- Currently available for trading on crypto exchange Bybit and DeFi protocol Uniswap
- Total supply of 1,000,000,000 $APEX tokens
- 23% allocated to the core team and early investors with a 12-month cliff and a vesting period of 24 months
- 77% for participation rewards, ecosystem building and liquidity bootstrapping where it is 100% unlocked for TGE, but tokens allocated to the DAO will be locked for 36 months. Those utilized for trading, staking or bonding rewards will see 10% of the allocation unlocked at TGE with linear vesting over 48 months
- The vesting period lasts for up to a total of four years, which can incentivize long-term and continued involvement of all parties
- New revenue sharing program coming soon!
Get more details on $APEX tokenomics here.
$BANA, ApeX Pro’s reward token distributed via weekly Trade-to-Earn events, is minted with a total of 25,000,000 $APEX that is locked over a minimum period of 12 months.
- Available once mainnet launches and ApeX Pro’s Trade-to-Earn event begins
- Allocated based on a combination of fees, open interests and the $BANA-USDC LP Token balance during a single period
- $BANA will also be channeled towards the BANA-USDC Liquidity Pool and Buy & Burn Pool as ApeX Pro proceeds with regular $BANA buybacks
We designed these Trade-to-Earn events for simple ecosystem participation — for traders who would like to do more with their owned $APEX and $BANA. Your idle assets and tokens can drive a part of your earnings for you. At the same time, traders regain ownership over their trading activities as they can mix and match strategies to optimize their derivatives portfolio in diverse ways.
Holders-only benefits abound with $BANA as traders can either hold more $BANA to multiply their $BANA earnings, sell $BANA back to the BBP or convert $BANA back to $APEX pro-rata after a certain period of time. $BANA supply is limited, and any proposals to increase the supply will require community approval.
As we move towards a Web3 social trading era on ApeX Pro, both $APEX and $BANA will go a long way as indicators of a trader’s trading performance and data on the platform. Experienced traders can share their trading strategies and signals with the community to bolster social-led derivatives trades, and be rewarded in both $BANA and $APEX for it.
Zoom into the specifics on ApeX Pro’s litepaper.
Here’s an overview of how all the above comes into play:
Creating Value in the Future of $APEX and $BANA
Become a leading force within the Web3 trading ecosystem. For traders who’d like to do more than just trading, by sharing ownership over a protocol that was created for the community, now’s the chance to not only have a say in the roadmap of future launches, but also rightfully apportion the fees generated on the protocol and trading platforms.
Our new staking program for revenue sharing will be available soon — ecosystem participants can stake their $APEX tokens to upsize earnings and earn a proportional share of the trading fees generated on the trading platform. Stay tuned as we gear up for this release as early as Q4 2022.
ApeX Pro is a non-custodial trading platform that delivers limitless cross-margined perpetual contracts to its metacommunity under a new framework. It is primed to deliver limitless access to the perpetual swaps market with its order book model, as it remains committed to the promises of not just speed and efficiency, but also security with transparency on traders’ preferred derivatives trading assets.