ApolloX

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Discover ApolloX's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is ApolloX?

ApolloX (APX) is a decentralized derivatives trading platform that offers both order book and on-chain perpetuals on major blockchains. It empowers traders and stakers with high leverage, low fees, and competitive slippage. The platform supports multiple chains, including BNB Chain and Arbitrum One, and offers yield-earning opportunities through liquidity provision and staking. APX is the native token of the platform, used for various activities such as trading, staking, and governance.

How is ApolloX used?

ApolloX (APX) is a decentralized crypto derivatives trading platform that offers users a range of features and tools to trade and invest in crypto perpetuals. Here's how APX is used:

Trading Options

APX provides two main trading options: V1 Order Book Perp and V2 On-Chain Perp. V1 supports multiple blockchains, including BNB Chain, Ethereum, Arbitrum, zkSync, Base, and Manta, offering up to 250x leverage and competitive fees. V2, available on BNB Chain and Arbitrum, offers up to 1001x leverage, zero slippage, and low fees. Both options allow users to trade a wide selection of markets, including crypto and forex pairs.

Trading Process

To trade on APX, users connect their decentralized wallets to the exchange and transfer tokens into the smart contract for fund custody and settlement. They can then use these funds to trade derivatives off-chain, with the profit and loss (PnL) accounted for in the ledger. After settlement, users can withdraw their funds by calling the smart contract.

Permissionless DEX Engine

APX also offers a Permissionless DEX Engine, a permissionless SDK broker solution that allows other projects to launch their own on-chain perpetual exchanges. This engine supports BNB Chain and Arbitrum networks, providing deep liquidity via the ALP pool and high leverage of up to 1001x. Partners can customize their domain, earn commissions on trading fees, and enjoy dedicated client support.

Yield-Earning Opportunities

APX allows users to stake ALP to earn platform fees and staking rewards. Additionally, staking $APX in the DAO can earn more $APX. This provides a passive income stream for users who participate in the platform.

Key Features
  • Dual Product Offering: Users can choose between V1 order book perp and V2 on-chain perp, offering flexibility and a wide range of trading options.
  • High Leverage: APX offers up to 1001x leverage for certain trading modes.
  • Minimal Slippage: V2 classic mode has as low as 0.01% slippage, and Degen Mode offers zero slippage.
  • Reduced Fees: APX offers competitive fees compared to other platforms.
  • Trustless Environment: No third-party intermediary is required, and users can connect their DeFi wallets directly to start trading.

Overall, APX provides a robust and flexible trading platform for users to engage in crypto derivatives trading with high leverage, low fees, and minimal slippage.

How do I store ApolloX?

To store ApolloX (APX) tokens, you have several options:

  1. Exchanges' Wallets: You can store your APX tokens on the wallets provided by exchanges like MEXC or Binance. This is a convenient option, but it is generally recommended to use cold wallets for long-term storage due to security concerns.

  2. Crypto Wallets: You can use dedicated crypto wallets like Trust Wallet, which support a wide range of cryptocurrencies including APX.

  3. Cold Wallets: For maximum security, consider using cold wallets, which are offline and not connected to the internet. This is the safest way to store your APX tokens for the long term.

  1. Atomic Wallet: The Atomic Wallet is a multi-asset wallet that supports over 1000 coins and tokens, including APX. It is trusted by 5 million users worldwide and offers private and secured storage without requiring registration or KYC.

  2. Other Wallets: You can also use other wallets that support APX, such as the ApolloX Wallet App, which is available for desktop and mobile devices.

Remember to always prioritize security and choose a wallet that fits your needs and risk tolerance.

How to buy ApolloX?

To buy ApolloX (APX) tokens, you can follow these steps:

  1. Create an Account:

    • Go to a reliable centralized exchange (CEX) like Gate.io, MEXC, or Binance, and register for an account. This typically involves providing personal information and verifying your identity.
  2. Verify Your Account:

    • Complete the Know-Your-Customer (KYC) and security verification processes to ensure the security of your account. This may include enabling two-factor authentication.
  3. Buy a Base Currency:

  • Purchase a base currency like USDT, ETH, or BNB using fiat money through the exchange's services or third-party payment platforms like PayPal or Robinhood.
  1. Transfer to the APX-Supporting Exchange:

    • If the CEX you used to buy the base currency does not support APX trading, transfer the base currency to an exchange that does support APX trading.
  2. Buy APX:

    • Use the base currency to buy APX tokens in the spot market. You can do this by selecting the appropriate trading pair, such as APX-USDT or APX-ETH.

Alternatively, you can also use a decentralized exchange (DEX) like Pancake Swap. For this:

  1. Download and Set Up a Wallet:

    • Download a Web3 wallet like Trust Wallet and set it up. Make sure to keep your seed phrase safe.
  2. Buy BNB:

    • Buy BNB as your base currency using a CEX like Binance.
  3. Transfer BNB to Your Wallet:

  • Transfer the BNB from the CEX to your wallet.
  1. Choose a DEX:

    • Select a DEX that supports the blockchain your wallet is on, such as Pancake Swap.
  2. Connect Your Wallet:

    • Connect your wallet to the DEX using your wallet address.
  3. Trade for APX:

  • Select BNB as the payment and APX as the coin you want to acquire. If APX is not listed, you can input its smart contract address.

Remember to be cautious of scams and ensure you are using official platforms and contract addresses.

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History of ApolloX

ApolloX (APX) is a cryptocurrency that was launched in December 2021. The project was founded by two co-founders, Will Li and Jingyi Zhou. Li, the technology lead, was inspired to create ApolloX due to his frustration with the traditional centralized e-commerce industry, which he believed exploited sellers through high costs and unfair competition. He envisioned a decentralized e-commerce platform that would offer transparency and independence. Zhou, the product head, brought her experience as an e-commerce marketer and data engineer to the project.

The ApolloX token, APX, is the native token of the ApolloX ecosystem and follows the BEP-20 standard, which is used for creating tokens on the Binance Smart Chain (BSC). The token is essential for facilitating various activities within the ecosystem, including trading, staking, and liquidity provision. Users can pay trading fees using APX tokens, which also supports the project's reward program and staking mechanisms.

The token had a fair launch with no pre-mining or allocation for investors or teams. A significant portion of the token supply (50%) was allocated to user trading rewards, while the remaining tokens were distributed to the community treasury, marketing partnerships, retroactive mining rewards, and the PancakeSwap listing. The total supply of APX tokens is 10 billion, and the project employs a burning mechanism to reduce the number of tokens in circulation and prevent inflation.

ApolloX is a hybrid platform offering both centralized and decentralized exchange (CEX and DEX) services. The platform supports trading with up to 1001x leverage, low fees, and the lowest slippage on the market. It also provides yield-earning opportunities through liquidity provision and staking.

The price history of APX tokens has seen significant fluctuations. Over a one-month period, the token's price decreased by 44.80%, with the highest price dropping by 47.80% and the lowest price declining by 46.10%. The traded volume also decreased by 42.33% during the same period.

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How ApolloX works

ApolloX (APX) is a decentralized crypto derivatives trading platform that offers a unique trading experience through its dual product offerings: V1 Order Book Perp and V2 On-Chain Perp. Here's how it works:

V1 Order Book Perp
  • Off-Chain Transaction Matching: APX V1 uses an off-chain transaction matching system, which ensures high transaction performance and fast response speeds.
  • On-Chain Fund Settlement and Custody: Users connect their decentralized wallets to the exchange and transfer tokens into the smart contract for fund custody and settlement. This ensures the safety of users' funds.
  • Trading: Users can trade derivatives off-chain, and their profit and loss (PnL) is accounted for in the ledger. After settlement, users can withdraw their funds by calling the smart contract.
  • Features: V1 supports trading on multiple blockchains, including BNB Chain, Ethereum, Arbitrum, zkSync, Base, and Manta. It offers competitive fees of 0.02% maker and 0.07% taker, with up to 250x leverage.
V2 On-Chain Perp
  • Fully On-Chain Liquidity Model: APX V2 employs a fully on-chain liquidity model, ensuring transparent trades with minimal slippage.
  • Dual Oracle Model: V2 uses a dual oracle model, combining price feeds from Binance Oracle and Chainlink to provide the most accurate pricing.
  • Trading: Users can trade over 30 crypto and forex markets with up to 250x leverage and low fees. They can also earn trading rewards and enjoy 0 slippage under Degen Mode.
  • Features: V2 supports trading on BNB Chain and Arbitrum networks, offering high leverage of up to 1001x and low fees.
Permissionless DEX Engine
  • Partner Integration: The Permissionless DEX Engine allows partners to integrate APX's robust trading infrastructure, providing deep liquidity via the ALP pool and high leverage of up to 1001x.
  • Benefits: Partners can earn commissions on trading fees and enjoy customizable domain, native DEX experience, liquidity sharing, and dedicated client support.
Key Features
  • High Leverage: APX offers high leverage of up to 1001x for certain trading pairs.
  • Minimal Slippage: V2 ensures minimal slippage, with 0 slippage under Degen Mode and as low as 0.01% slippage for classic perps.
  • Reduced Fees: APX offers competitive fees, ensuring more profits for traders.
  • Yield-Earning Opportunities: Users can stake ALP to earn platform fees and staking rewards, and stake $APX in DAO to earn more $APX.
Ecosystem
  • APX DAO: Users can participate in the APX ecosystem governance by staking the APX governance token, earning voting rights and up to 14.89% APY.
  • Liquidity Pool: The ALP pool provides liquidity for all V2 trading pairs, maximizing capital efficiency.
  • Trading Competitions: APX hosts trading competitions, and users can participate to earn rewards.

Overall, ApolloX (APX) provides a comprehensive and flexible trading platform that caters to various trading needs, offering high leverage, minimal slippage, and competitive fees.

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ApolloX's strengths

The token ApolloX (APX) has several strengths that contribute to its appeal and potential for growth:

  1. Dual Product Offering: APX offers both V1 order book perpetuals and V2 on-chain perpetuals, providing users with a wide range of trading options and unparalleled opportunities. This dual offering allows traders to choose between different trading models, catering to diverse preferences and strategies.

  2. High Leverage: APX offers ultra-high leverage of up to 1001x, making it attractive to traders who seek to maximize their potential gains. This high leverage is particularly beneficial under the Degen Mode, where traders can enjoy 0 slippage and competitive fees.

  3. Minimal Slippage: APX's V2 on-chain perpetuals ensure minimal slippage, with as low as 0.01% slippage for classic perpetuals and 0 slippage for Degen Mode. This reduces trading costs and enhances overall trading efficiency.

  1. Yield-Earning Opportunities: APX provides high-yielding opportunities for liquidity providers, with the highest stablecoin LP yield among perpetual trading platforms. This incentivizes liquidity providers to participate, further enhancing the overall liquidity and trading experience.

  2. Multichain Ecosystem: APX supports multiple blockchain networks, including BNB Chain, Ethereum, Arbitrum, zkSync, Base, and Manta. This multichain approach expands the user base and increases the versatility of the platform.

  3. Security and Trustless Environment: APX operates in a trustless environment, eliminating the need for third-party intermediaries. Users can connect their DeFi wallets directly and start trading, ensuring a secure and reliable experience. The platform has also undergone audits from reputable firms like Certik, Salus Security, and PeckShield.

  1. Ease of Use and Accessibility: APX aims to make cryptocurrency trading accessible to everyone, regardless of technical expertise. The platform's intuitive interface and robust ecosystem facilitate smooth trading experiences, making it appealing to a broad user base.

These strengths collectively contribute to APX's attractiveness as a cryptocurrency project, offering users a comprehensive and competitive trading environment.

ApolloX's risks

ApolloX (APX) Finance, a decentralized crypto derivatives trading platform, carries several financial risks. These risks include:

  1. Market Volatility: Cryptocurrency trading is inherently volatile, and market fluctuations can result in significant losses for traders. APX Finance does not provide financial or investment advice, and users are responsible for their own trading decisions.

  2. Slippage: APX V2 adjusts slippage based on market depth, which can affect trading costs. Fixed slippage is used for certain pairs like BTC and ETH, while dynamic slippage is used for other pairs, which can be influenced by open interest and new positions.

  3. Fees: APX charges various fees, including opening and closing position fees, execution fees, and funding rates. These fees can add up and impact trading profitability.

  1. Liquidity Risks: APX's liquidity provider pool (ALP) is critical to maintaining trading liquidity. Any disruptions to ALP could impact trading performance and increase risks for users.

  2. Security Risks: As with any decentralized platform, APX is vulnerable to security breaches and exploits. Historical incidents, such as the Sonne Finance exploit, highlight the importance of robust security measures.

  3. Regulatory Restrictions: APX Finance does not provide services to users from certain countries, including the United States, due to regulatory restrictions. This limits the platform's accessibility and may impact its growth.

  1. Investment Risks: Investing in APX tokens or participating in the liquidity provider pool carries inherent risks, including potential losses due to market fluctuations or platform instability.

It is essential for users to understand these risks and trade responsibly, as APX Finance emphasizes that all trading activities are done at the user's discretion and risk.

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ApolloX’s team

Here is the team behind ApolloX (APX):

  • Captain: Founder of ApolloX, with over 10 years of experience in traditional finance and crypto industries, scaling the ApolloX ecosystem.
  • Venus: Operations Lead, supervising the day-to-day running of the ApolloX exchange, with over 5 years of experience in crypto.
  • Katherine: Growth Lead, responsible for strategic multi-platform initiatives to advance ApolloX’s branding within the global crypto community.
  • Damien: BD Lead, overseeing business development activities and generating new partnerships with other crypto firms.
  • Saturn: Product Lead, managing the full ApolloX product suite and driving new capabilities and initiatives to benefit the ecosystem.
  • Neptune: Tech Lead, responsible for designing, building, and maintaining ApolloX’s robust system and trading architecture.

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