We hosted an amazing AMA with Apex Protocol on the 16th of April.
And here we will put some of the best questions:
Q1. Can you please introduce yourself as well as Apex Protocol?
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.
Q2. What are the advantages of Your project?
ApeX offers our traders with exclusive trading experience through our 3 key features:
Permissionless cryptocurrency perpetual contract trading with leverage
Just like traditional futures contracts, perpetual contracts are similar and there is no expiration. Perpetual Contracts is similar to a margin-based spot market where you can trade close to the underlying reference index price.
A good number of DeFi projects that perpetual contracts for traders include dYdX, Injective, Perpetual Protocol, etc.
This feature further includes: coin-collateralized leverage trading, which enables trading with more capital; rebase mechanism, which is to adjust the token price, without affecting the value of anyone’s share of coins; protocol incentivization: to encourage early adopters and spur organic growth of the protocol.
Elastic Automated Market Maker (eAMM)An automated market maker (AMM) is a decentralized exchange protocol that relies on a mathematical formula to price assets. Instead of an order book that traditional exchange uses, here, assets are valued according to a pricing algorithm.
AMMs have significantly carved out their niche in the DeFi space because of how simple and easy they are to use. Making it this way in a decentralizing market is intrinsic to the vision of crypto.
On ApeX, the AMM model and the Constant Product Formula are the core of price discovery. However, ApeX uses a novel approach known as the Elastic AMM (eAMM), modeled after algorithmic stablecoin protocols’ efforts to keep it pegged by using on-chain algorithms that increase or decrease supply according to market conditions.
The team 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.
Protocol Controlled Value
Traditionally, DeFi protocols employ a user-owned Total Value Locked (TVL) model, in which liquidity providers deposit an equal amount of two tokens to form a market.
Total value locked (TVL) means the overall value of crypto assets that are deposited in a decentralized finance (DeFi) protocol. It is a key metric for measuring interest in that particular sector of the crypto industry.
TVL can be determined in the following ways:
Note: TVL only means the current value of the deposits themselves, not the yield that these deposits are expected to earn.
Protocol Controlled Value (PCV) categorizes the Total Value Locked (TVL) which represents all assets that cannot be redeemed by users. A good example of PCV is DAO treasuries.
A Protocol Controlled Value (PCV) model aims to solve these problems peculiarly. PCV was inspired by the Total Value Locked (TVL) model, whereby all assets locked in smart contracts are ultimately owned by the protocol and not redeemable by users. This guarantees that the liquidity of each perpetual contract market and users can be at ease knowing that no liquidity provider can pull out the protocol-owned liquidity.
ApeX uses the PCV model to retain liquidity in perpetuity to solve the ‘mercenary capital’ issue. Additionally, ApeX also supports user-owned TVL liquidity for users who prefer the traditional DeFi TVL model.
Q3. Please tell us about the goal you want to achieve this year.
We will have many upcoming Campaigns this year including:
📚ApeX Content campaign
🎭**ApeX NFT Rebates Campaign
ApeX NFT game- One last Ape Standing
⚒ ApeX x IZUMI Joint liquidity mining pool Program.
Q4. Every project has a story behind their name. Can you tell us more about the story behind this? Who is the team behind this project? Can you tell us their background?
ApeX protocol is incubated by Davion Labs, a crypto and blockchain impact incubator backed by Bybit.
It has raised significant capital in the Private Funding Round Led by Dragonfly. Alongside Dragonfly, other prominent investors such as Jump Trading, Tiger Global, Mirana Ventures, Kronos, M77 Ventures, and CyberX have also participated and contributed to the funding round. The ApeX project is proud to be backed by such influential and leading investment firms in the industry.
Q5. NFT is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on NFT with us? Do you think NFT will disrupt the current financial system? What is Your project’s approach to the NFT sector?
The word nft stands for non-fungible token and if something is fungible, it means it’s interchangeable like cash. Your ten dollar note can be completely interchanged with my ten dollar note.
And so if something is non-fungible, it means it cannot be interchanged. Nfts are using blockchain technology to be able to indisputably verify who has the origin of a digital product.
ApeX NFT is a series of NFTs issued by ApeX, which will have the subscription interest of the protocol’s governance token, as well as the proof of equity interest of its VIPs in ApeX’s future loyalty program. The total number of NFTs issued will be 4,580 pieces. In addition to trading and token equity attributes, ApeX NFTs are highly valuable as art collection pieces.
ApeX Loyalty Program enables NFT holders to get the eligibility to grab a tiered transaction fee discount. ApeX predator NFT holders will enjoy a 8% lifetime transaction fee discount when trading on the ApeX protocol, while OG NFT holders will enjoy a 50% lifetime transaction fee discount.The public sale of the ApeX NFT has facilitated the ApeX protocol to communicate and build its brand value and culture to audiences in the Web 3.0 space.
The ApeX NFT gaming phase, known as One Last Ape Standing, is an in-game activity where participants who hold the ApeX NFTs are eligible to receive the ApeX token from the reward pool within a period of time.
In addition, to take part in the in-game activities of One Last Ape Standing, you can purchase Apex NFT on OpenSea at any time. Users have the option to burn their NFT to withdraw from the game anytime.
And here we will put best questions from our members and Apex Protocol fans:
Q1. Can you briefly introduce ApeX nft and what’s the difference from others?
The entry tickets for the ApeX NFT Game and the ApeX Loyalty Program are the ApeX Predator NFTs. All early holders of Predator NFTs are entitled to exclusive benefits — the longer the holding period, the more rewards received. An amount of 0.2TH will be given to ApeX Predators NFT holders for each NFT held. When the ApeX NFT Game officially starts, all rebate rewards will be issued accordingly.
Q2. Apex’s nft is very attractive to me, I want to know how to get ApeX nft in the market?
A total of 20 ApeX OG NFTs have been sold in the form of whitelist invitations, owners being well-known opinion leaders in the industry, as well as senior researchers and investors of DeFi projects. The remaining 4,560 ApeX Predators NFTs have all been minted on March 11. You can buy NFT on Opensea https://opensea.io/collection/apex-nft-predator.
Q3. What are the visions of ApeX when it is set up?
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.
Q4. I found $APEX on Bybit recently. Could you give me an introduction of ApeX tokens?
ApeX is the native token of the protocol with a maximum supply of 1,000,000,000, and will serve the following utilities:
Governance: Token holders are entitled to submit and vote on protocol governance proposals.
Protocol Incentivization: Users can earn ApeX tokens through participation rewards and liquidity mining on the ApeX protocol.
Q5. What are the core philosophies for ApeX?
Fully Permissionless: Open networks that’re available to everyone to participate in the consensus process, which is used to validate on-chain transactions. On ApeX, anyone can create any market and trade any assets.
Liquidity in Perpetuity: Liquidity is a core part of the infrastructure; users do not have to trust the institution to execute trades, all that is required is to trust the code will execute as written, hence worry no more about rug pulls.
Full-Spectrum Asset Support: Liquidity providers can provide liquidity in any asset, which helps create a market for niche investment strategies.
Q6. Can You Explain How is your Tokenomics Distribution? How many tokens Will be minted? And How Many Tokens Will Be locked By The team?
ApeX token distribution is as follows:
Team and early investors: 23% of the total token supply will be allocated to the core team and early investors with a 12-month cliff starting from TGE followed by a 2-year linear vesting.
Early investors (8%)
Strategic DAO Allocation: The remaining 77% will be allocated to the DAO and community. These include allocations for participation rewards, ecosystem building, and liquidity bootstrapping.
100% unlocked at TGE but tokens allocated to the DAO will be locked for 36 months.
Trading, staking, bonding and other participation rewards are 10% unlocked at TGE with linear vesting over 48 months.
Q7. Is your Project A COMMUNITY only for English speaking an few countries or for users not of other languages?
We will not only open the English community. At present, we also open the German and Vietnamese communities. Arabic is also in our plan. We welcome the friends from all over the world.
Q8. There are tons of NFT projects in the crypto world. How will your NFTs differ from what we’ve seen?
ApeX protocol will raise initial liquidity for its governance token via an Initial NFT Offering, where a total of 4580 unique Non-Fungible Tokens (NFTs) will be issued and sold on OpenSea. The Initial NFT Offering will be conducted in two rounds: OG-Round and Public-Round.
20 unique ApeX NFTs will be minted and sold to whitelisted OG supporters. OG-Round NFT holders will receive ApeX tokens which are subjected to a 6-month cliff followed by a 6-month vesting period at a fixed exchange rate. In addition, OG-Round NFT holders will enjoy a lifetime 50% trading fee rebate.
4,560 unique ApeX NFTs will be minted and sold to public supporters. A Public-Round NFT holder’s address will also enjoy a lifetime 8% trading fee rebate as long as the address still holds the NFT.
There is a brief introduction for you here
Q9. Where I can get the latest updates or more information about the project?
ApeX 10,000 USDT Giveaway!
Airdrop Bonanza (Round 1), more than 200,000 $APEX
Q10. Security is something basic and necessary in any project and now more than ever,the community wants security. So,what mechanisms or measures do you have in place to protect #ApeXProtocol users?How strong and secure are your smart contracts against attacks? Have they been audited?
All smart contracts on the ApeX protocol have been audited by professionals to ensure high security. You may click here to view the audit report. The time-weighted average price (TWAP) algorithm has also been employed to minimize a large order’s the impact on the market. Stay tuned for our upcoming bug bounty programs.
And this was the end of our AMA with Apex Protocol.
If you have any questions you can ask here:
Telegram Group: https://t.me/ApeXdex
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