We are excited to announce that Trade-to-Earn (T2E) is now live on ApeX Omni, offering traders the chance to earn bi-weekly rewards in $BANANA tokens and redeem $APEX tokens or USDT rewards in return.
With the full migration and closure of USDT contracts on ApeX Pro, the T2E event has officially moved to ApeX Omni. Picking up from Phase 22, the event will continue through Phase 26, where traders can earn rewards based on a combination of bi-weekly trading volume, USDT balance, and the amount of $BANANA-USDT LP Token balance during a single period.
Ready to dive in? Read on for a quick refresher on what T2E is and how you can maximize your rewards by trading on ApeX Omni.
What is Trade-to-Earn (T2E)?
Trade-to-Earn (T2E) is a year-long program that rewards traders based on their activities in USDT Perpetual Contracts. The more you trade, the more rewards you accumulate. Initially launched on ApeX Pro, the program has now moved to ApeX Omni resuming from Phase 22, following the discontinuation of ApeX Pro USDT markets.
About $BANANA Token
T2E Round 2 is facilitated by $BANANA, a reward token on the Ethereum network.
Minting $BANANA: 10,000,000 $APEX (at the time of writing worth $17,700,000) is locked for 12 months to generate a supply of 10,000,000,000 $BANANA at an initial redemption rate of 0.001.
Rewards Distribution: $BANANA rewards will be automatically distributed bi-weekly, based on your trading activities, as explained in the following section: Trade-to-Earn Scoring System. You can either swap your earnings to USDT right away or wait for the end of the program and redeem them for $APEX.
Redeeming APEX: At the end of the event, $BANANA holders will be able to redeem their $BANANA for $APEX tokens pro-rata, depending on how much $BANANA is burned in the Buy & Burn Pool (BPP), with the final conversion rate determined by this process.
What this means is that throughout the event, participants receiving $BANANA tokens are essentially accumulating $APEX tokens for free. These $APEX tokens will be unlocked and available for redemption at the end of the Trade-to-Earn event.
Trade-to-Earn Scoring System
T2E Round 2 runs across 26 bi-weekly epochs, with your rewards determined by a combination of factors, including your Trading Volume in USDT Perpetual Contracts, Balance, and $BANANA-USDT LP Token Holdings. These factors are carefully calculated using the Cobb-Douglas function, ensuring a fair and transparent distribution of rewards. For a deeper understanding of how your score is calculated, check out our detailed Gitbook explainer.
Additionally, ApeX Affiliates can boost their earnings by receiving 1 $BANANA for every 10 $BANANA earned by their referred users—further enhancing the rewards potential for those who refer and grow the community!
How to Use $BANANA Tokens?
Now that you’re earning $BANANA tokens, here are the ways you can make the most of them:
Swap $BANANA for USDT: You can swap your $BANANA for USDT via the $BANANA-USDT Pool at any time during the 52 weeks of the event. Just enter the amount of $BANANA you want to swap, and the corresponding amount of USDT will be credited to your account.
Please note that once you swap your $BANANA for USDT, the corresponding amount will be deducted from your total rewards and will not be available for redemption at the end of the program.
Add Liquidity to the $BANANA-USDT Pool: By adding liquidity to the $BANANA-USDT Pool, you will receive LP Tokens.
The more LP Tokens you hold during an epoch, the higher your share of the $BANANA rewards for that period. Add or remove liquidity at any time during the event to maximize your rewards.
Hold & Redeem $BANANA for $APEX: If you prefer to hold onto your $BANANA tokens instead of swapping them, you can redeem them for $APEX governance tokens at the end of the 52-week event.
The redemption rate will depend on how much $BANANA is burned in the Buy & Burn Pool, so the longer you hold, the greater your potential reward.
Note for Existing Program Participants
For wallet addresses that have both ApeX Pro and ApeX Omni accounts, the USDT T2E data from ApeX Pro will sync automatically with the Omni account. If a user has not yet created an Omni account, we will manually update the T2E data on a weekly basis once the Omni account is set up. Automation of this process will be implemented in the future.
Get Started with Trade-to-Earn on ApeX Omni!
Don’t miss out on this opportunity to earn $BANANA rewards for your trading activities. Start trading USDT Perpetual Contracts on ApeX Omni today, and maximize your earnings over the next weeks.
Ready to Trade-to-Earn?