Looking back, May was a month brimming with achievements and milestones for ApeX! We kicked things off by announcing the upcoming implementation of the esAPEX12 strategic solution, an innovative approach to address the pre-sale token unlocking challenges by controlled and balanced release mechanism, mitigating the potential market volatility. Additionally, we unveiled our upcoming product ApeX Omni by officially publishing the Litepaper and commenced ApeX Omni Journey, a 6-week long event preparing the ground for the launch.
The month was further marked by significant upgrades to our powerful ApeX Grid Bot trading tool, providing traders with more intuitive controls and comprehensive data insights. We also introduced ApeX Fusion, a decentralized market-making pool, unlocking retail liquidity across all trading pairs on ApeX Pro. And last but not least, rounding out the month's achievements was the exciting announcement of an upcoming community-owned meme token, set to be airdropped to our valued community members.
Let's explore all the key highlights.
1. esAPEX12 Strategic Solution Implemented
ICYMI earlier this year, in April, we introduced esAPEX12 strategy, an innovative token release mechanism designed to address challenges associated with pre-sale token unlocks, such as price volatility, market shifts, and inflation. This approach moderates the influx of new tokens into the market, mitigating potential negative impacts on the $APEX price while safeguarding the interests of both the participants of the secondary market and project investors. Initiated after extensive discussions with investors and our core team, we reached a consensus to implement this sustainable approach.
In short, the esAPEX12 solution establishes an esAPEX12 pool on the Mantle Network, where newly released $APEX tokens for the core team and investors are deposited and locked according to the initial unlock schedule. These locked tokens generate $esAPEX12, which can then be sold via the same pool to third-party buyers at a 40% discounted rate, with a mandatory 12-month lockup period. Upon the lockup expiry, buyers can redeem their $esAPEX12 for $APEX. Investors and team members receive liquidity provider (LP) tokens representing their right to receive sales income from $esAPEX12 in USDT. Notably, the team has agreed not to claim any sales profits until investors receive their initial investments.
For all the details of the proposed initial plan, check out this blog post.
2. Preparation for the Upcoming Launch of ApeX Omni
In preparation for the highly anticipated launch of ApeX Omni, our upcoming product that is set to unlock the full potential of DEXs for optimal performance, we've released the official Litepaper as well as the 6-week-long campaign, ApeX Omni Journey.
2.1 About ApeX Omni
As detailed in our Litepaper, ApeX Omni is a modular, intent-centric, multichain liquidity trading platform that addresses challenges within the current DEX landscape, such as liquidity fragmentation across multiple chains and limited multichain trading opportunities.
ApeX Omni is designed to deliver a diverse range of trading products, robust liquidity, and an exceptional user experience, maximizing the potential of decentralized exchanges for peak performance. By seamlessly synchronizing multi-chain native tokens, ApeX Omni provides traders with:
A pool of assets and trading pairs across chains;
Low slippage, rich liquidity and tight spreads;
0 gas fees and low trading fees (2.5 bps taker, 0 maker fees)
Up to 100x leverage and high speed of 3,000 tps
Full product suite: spot, derivatives, pre-market trading, community vaults, social trading, etc.;
Security, self-custody & privacy.
Omni redefines the DEX trading landscape with an intent-centric design mirroring CEXs; a chain agnostic approach, providing seamless trading experience; modular infrastructure for scalability and agility to better meet market demands and enhanced security guaranteed by zero-knowledge proofs.
ApeX Omni represents a major advancement in our mission to provide DEX traders with secure and efficient trading solutions. Focused on trader needs, ApeX Omni enhances the decentralized trading experience, making it easier for users to embrace DEXs without compromising on the speed, efficiency, and convenience found in CEXs. ApeX Omni empowers a community with advanced tools and products while opening up new opportunities for growth and profit in a self-custodial and decentralized manner. Read more in our Litepaper.
For more details on the opportunities and challenges of multichain liquidity trading, check out this helpful learn article. Meanwhile, if you want details on liquidity fragmentation as a bottleneck to unlock the full potential of DeFi, refer to this indepth article.
2.2 ApeX Omni Journey
To help you become more familiar with ApeX Omni and provide opportunities to earn multiple rewards along the way, we've launched ApeX Omni Journey! Join our 6-week-long event, complete simple tasks and earn Galxe Loyalty Points and ApeX Social Points that will grant you access to unlocking exciting prizes including airdrops, NFTs, and more.
The journey unfolds across 2 Seasons:
In the first season, participants dive into a variety of engaging activities: interacting with our social platforms, delving into the Litepaper, tackling quizzes, joining AMAs, and exploring ApeX Omni Testnet. Successful completion of these tasks rewards users with Galxe Loyalty Points, which are convertible to ApeX Social Points in Season 2.
In Season 2, Galxe Loyalty Points from Season 1 seamlessly convert to ApeX Social Points, granting you access to exciting prizes, including both crypto and physical (real-world) rewards.
ApeX Omni Journey tasks are free, and participants can complete as many tasks as they like across the phases. However, the more tasks you complete, the higher your points, enabling you to earn better rewards.
3. ApeX Grid Bot
3.1 New Upgrades
This vey month, we also rolled out a series of enhancements to ApeX Grid Bot, our powerful automated trading tool available for all USDT and USDC perpetual contracts on ApeX Pro! These upgrades aim to provide traders with more intuitive controls, comprehensive data insights, and a seamless user experience. The key updates include the introduction of candlestick charts for all trading pairs, allowing traders to utilize various patterns and candlestick types, optimized P&L(%) curve displays that now refresh every 10 minutes for more accurate data, and enhanced calculations for improved precision!
For a closer look at all the updates we introduced, check out our blog post. To deploy ApeX Grid Bot, click here.
3.2 ApeX Grid Bot Top P&L% Bonanza LIVE
With the introduction of new features, we kicked off ApeX Grid Bot Top P&L% Bonanza, a 3-week-long trading competition offering traders the opportunity to showcase their skills and compete for a share of a 5,000 USDC prize pool! To get in, deploy ApeX Grid Bot and vie for the top P&L% rankings while earning from negative 0.002% trading fees.
The action unfolds across 3 weekly stages, with 1,500 USDC in rewards up for grabs per stage. Traders who secure a spot in the top 10 P&L% performers during any given week are rewarded with USDC bonuses. However, even if you don't make it to the top 10, you can still earn a share of the remaining prize pool, as long as you surpass a 5,000 USDC volume threshold with a positive P&L%.
To incentivize early participation, we are offering an Early Bird special (that's still available), rewarding the first 100 traders, who activate their ApeX Grid Bot for the very first time, with a 5 USDC bonus!
So, don't wait, join in to all the action by deploying your ApeX Grid Bot here.
4. ApeX Meme Token — Coming Soon
Another exciting event this month was the announcement of our upcoming meme token, which will be fully community owned.
We are distributing 10% of the total token supply to our dedicated community members, with the following allocations:
60% for the participants of our Staking Program;
30% for early testers of ApeX Omni via ApeX Omni Journey;
And 10% for those who nurture our beloved hero (more information on this to be unveiled soon);
The distribution will be determined by a snapshot taken at a later date, so stay tuned.
Meanwhile, you can get a headstart by joining ApeX Staking Program as well as by participating in the ongoing ApeX Omni Journey.
5. ApeX Fusion LIVE
The last but not least, at the end of May, we officially launched the highly anticipated ApeX Fusion, a decentralized market-making pool on Elixir that unlocks retail liquidity for all trading pairs on ApeX Pro.
In case you missed it, we rolled out ApeX Fusion in collaboration with Elixir, a decentralized Delegated Proof of Stake (DPoS) network that enables ApeXers to provide liquidity on ApeX orderbooks while earning attractive APYs which participants can claim in USDC on a weekly basis.
In addition, by providing liquidity to ApeX Fusion, users can also earn Elixir Points, otherwise known as Potions. Potions are a marker of value contributed to the Elixir network by users. For more details on Elixir Potions, refer to this blog.
Meanwhile, to get a closer look at all the details on ApeX Fusion and our partnership with Elixir, check out our blog.
May has been a month of remarkable achievements and milestones for ApeX! We're on the cusp of launching ApeX Omni, our highly anticipated product designed to revamp the DEX trading landscape.
In the meantime, keep an eye on the ApeX blog for all the latest updates! We're eagerly looking forward to what June has in store for you and are excited to continue on this journey with you. Here's to yet another month of success here at ApeX — Happy trading!
