ApeX Protocol Celebrates Its First Anniversary with Enticing Rewards
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The ApeX Protocol, a decentralized and non-custodial derivatives protocol by Davion Labs, has posted significant growth and development across the decentralized finance (DeFi) sector.
ApeX is currently celebrating its first anniversary, having announced multiple rewards and a glimpse into the plans it has for the future.
Apex Reports Major Growth on Its First Anniversary
In just one year, the exchange has recorded more than $17 billion in cumulative trading volumes, with over 29,000 traders using the platform.
ApeX operates as a decentralized exchange (DEX). It has also launched two passive income solutions for clients: a Staking Program and a Smart Liquidity Pool (SLP). The ApeX SLP emerged as the first market-making liquidity pool on a decentralized orderbook.
The ApeX staking program has an average staking Annual Percentage Yield (APY) of 26.5%. Those participating in the program will earn more than 450K USDC using a revenue-sharing program.
The SLP comes with an Annual Percentage Rate (APR) of 18.85%. This platform gives retailers access to market-making strategies by boosting liquidity with a minimum $100 deposit. Users will also earn fees in USDC as they grow the platform’s liquidity.
ApeX does not only offer traditional products and services. ApeX has also launched a trading bot that traders can access on Telegram, improving the overall user experience.
The strategic partnerships with crypto firms across the blockchain industry will also improve the overall user experience and boost its offerings. Some of ApeX’s partners include Arbitrum, Bybit, and Mantle.
ApeX Offers User Rewards
ApeX is giving users rewards of 25,000 USDC and 50,000 APE tokens by engaging in multiple activities. These activities include trading competitions and community engagement.
ApeX is looking to develop social trading features, update tokenomics and boost liquidity. Through updates, ApeX will transform the participation of the community and increase the value of the ApeX project.
“As ApeX celebrates its first year, the journey ahead looks even more promising. “ApeX’s first year has exceeded our expectations, and we’re thrilled to continue pushing the boundaries of decentralized finance. This anniversary is a testament to the incredible community that has shaped ApeX into what it is today,” said the Head of Business Development at ApeX, Tekla I.
Tekla further opined that the protocol’s accomplishments and the partnerships showcase an effort and an opportunity to boost decentralization. The protocol’s roadmap shows a commitment towards innovation while giving users a rewarding trading experience.
