ApeX Protocol celebrates 1st anniversary with ≈$40,000 in rewards

In its first year of operation, ApeX Protocol, a decentralized and non-custodial derivatives protocol incubated by Davion Labs, has reported remarkable growth and development in the DeFi sector. Celebrating its anniversary, ApeX has announced a series of rewards and a glimpse into its future plans.

Over the past year, the exchange has reportedly handled over $17 billion in cumulative trading volume with more than 29,000 traders using the platform. ApeX operates on StarkEx’s Layer 2 solution, offering up to 50x leverage on various trading pairs.

In addition to developing a decentralized exchange (DEX), ApeX has introduced two passive income solutions: the Staking program and Smart Liquidity Pool (SLP). The latter is the first market-making liquidity pool on a decentralized orderbook DEX.

The Staking program boasts an average staking Annual Percentage Yield (APY) of 26.5%. Participants engaging in this program have collectively earned over 450K USDC through revenue-sharing since its inception. On the other hand, the SLP offers an average Annual Percentage Rate (APR) of 18.85%. This avenue enables retail users to engage in market-making strategies by contributing liquidity to the platform with a minimum $100 deposit. By participating in SLP, users passively earn fees in USDC while contributing to the platform’s liquidity.

Innovation hasn’t stopped at traditional offerings; ApeX has also introduced a trading bot accessible via Telegram, a first of its kind for decentralized platforms. Moreover, strategic partnerships with various firms in the blockchain space are said to enhance the user experience and expand the platform’s capabilities. The list of partners includes key players in the crypto industry like Bybit, Mantle, Arbitrum, and others.

As part of the anniversary celebrations, ApeX is giving away rewards totaling 25,000 USDC and 50,000 APEX through various activities, including a trading competition and community engagement initiatives.

Looking forward, ApeX’s roadmap includes the development of social trading features, updates to its tokenomics, and liquidity initiatives. These updates aim to refine the community’s participation and bolster the overall 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. Our accomplishments and partnerships showcase collective effort and passion driving decentralized excellence, while our roadmap reflects our commitment to innovation and provides users with a seamless, rewarding trading experience,” said Tekla I, the Head of Business Development at ApeX Protocol.

Financefeeds.com