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ApeX Protocol unveils trade-to-earn round 2

Press Releases
ApeX Protocol unveils trade-to-earn round 2

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Saint Vincent, Grenadines, Jan. 22, 2024, Chainwire

ApeX Protocol, a player in the cryptocurrency trading space and a non-custodial derivatives decentralized exchanges (DEX), is launching trade-to-earn (T2E) round 2 as of Jan. 22, 2024.

ApeX Protocol unveils trade-to-earn round 2 - 1

Following the success of the inaugural event in November 2022, T2E Round 2 offers more for ApeX traders with enhanced incentives and a revamped rewards structure.

T2E is a 52-week long program where traders can earn rewards based on their trading activity. The more trades executed, the greater the rewards accumulated.

This year, ApeX is introducing exciting updates to make the journey even more rewarding for participants.

Key highlights of T2E Round 2:

  1. Introduction of BANANA token: T2E Round 2 is facilitated by a new BANANA token on the Ethereum network. A total of 10,000,000 APEX is locked over a 12-month period to mint BANANA, at an initial redeem rate of 0.001. Reward tokens, distributed automatically on a bi-weekly basis, will be granted to users trading USDT perpetual contracts on ApeX Pro.
  2. Enhanced rewards pool with potential airdrop opportunities: T2E Round 2 introduces an enhanced rewards pool, providing extra layers of incentives and benefits for ApeX traders with potential airdrop opportunities. In addition to BANANA rewards, participants have the opportunity to claim rewards in partner project tokens. The distribution of airdrop rewards will be determined by traders’ activities (T2E score) and project-specific factors in the coming months.
  3. Maximizing rewards in 3 steps:
  • Swap: BANANA can be easily swapped for USDT via the BANANA-USDT pool at any time during the 52 weeks.
  • Add liquidity: By adding BANANA and USDT to the BANANA-USDT Pool, traders can acquire LP tokens. Greater LP token holdings result in amplified BANANA rewards at the conclusion of each epoch.
  • Hold and redeem: Holders of BANANA can redeem APEX governance tokens on a pro-rata basis after the event period. Acquired APEX can be utilized in ApeX’s revenue-sharing program through staking, further enhancing users’ holdings with an additional passive income-generating tool on ApeX.

Creating value for the community

T2E events are aligned with the principles of crypto and decentralized finance, aiming to reciprocate to the community by enabling them to grow their wealth in a fair, transparent, and rewarding manner.

Tekla I, the head of Business Development at ApeX Protocol, expressed her enthusiasm about the launch:

“We are excited to welcome traders back for the second iteration of Trade-to-Earn. T2E Round 2 is a testament to our commitment to providing our community with innovative and rewarding opportunities in the crypto space. At ApeX, we believe in the synergy between decentralization and community. T2E Round 2 is our way of rewarding our community for their contributions and dedication to our platform.”

 

About ApeX

ApeX is a permissionless and non-custodial derivatives decentralized exchange, powered by StarkWare’s layer 2 scalability engine StarkEx, delivering USDC and USDT cross-margined perpetual contracts with over 30 trading pairs and up to 50x leverage. It is primed to provide permissionless access to the perpetual swaps market with its order book model, as it remains committed to the promises of speed, efficiency, and security with transparency on traders’ preferred derivatives trading assets. 

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