ApeX Protocol introduces ApeX Pro, a trading platform that leverages StarkEx’s scalability engine to offer users seamless and high-performing trades with its new order book model. It remains committed to its mission of becoming a standard for all decentralized derivatives protocols, and aims to provide an unparalleled Web 3.0 social trading experience for individual users.
Saint Vincent and the Grenadines, Aug 17, 2022 — ApeX Protocol, a decentralized, permissionless, and non-custodial protocol, first opened the gateways of inclusive access to the crypto perpetual swaps market in February 2022. Designed to provide solutions to flaws in existing decentralized exchanges (DEXs) such as high gas fees and poor order execution, the ApeX Protocol is firmly anchored in realizing the Web 3.0 vision — shaping a free and open ecosystem for all users to grow their wealth in a safe and trusted environment, where they can participate within an interconnected ApeX metacommunity.
ApeX Pro, a Layer 2 trading platform built on the ApeX Protocol, has integrated zero-knowledge rollup (ZK-rollup) infrastructure, bringing an upgrade that will help establish a Web 3.0 social trading platform. ApeX Pro is leveraging first on the rollout of a new order book feature to co-exist with ApeX’s current Elastic Automated Market Maker (eAMM) model.
An Impetus for Change: From ApeX eAMM to ApeX Pro
The ApeX Protocol ecosystem has grown significantly since its inception in the first quarter of 2022. The benefits of the eAMM model, where trading pairs are set up with a single asset provision and orders are automatically executed based on smart contracts, have been extensively proven in a decentralized environment.
Similarly, the ApeX Protocol has succeeded in:
- Improving interoperability and reducing impermanent loss as a result of capital inefficiency with on-chain derivatives trades
- Upholding a fully permissionless platform with no need for KYC restrictions or intermediaries in trades, allowing users to freely trade, as well as create pools and markets with any underlying assets
- Maximizing security provisions where users maintain control of their private keys and introducing the Protocol Control Value (PCV) model, an alternative to the Total Value Locked (TVL) module, that ensures locked assets in smart contracts are owned by LPs, thereby guaranteeing the sustained liquidity of perpetual contract trades made
ApeX Protocol has achieved significant progress in its quest for decentralization trading and is committed to further bridging the gap between derivatives traders and Web 3.0 innovations with upcoming upgrades. An integrated and open social trading platform marks ApeX’s next stop, beginning with an optimized order book model offering on the brand new ApeX Pro.
A Synchronized Solution With StarkEx
ApeX Pro will offer its flagship cross-margined perpetual swap trading platform to users with an upgrade by integrating the best of order book model architecture on top of the protocol’s existing framework.
The addition of the order book interface helps to:
- Enhance capital efficiency for users who intend to invest or trade with fewer funds but are still looking for high liquidity provisions
- Increase flexibility in orders with advanced charting functions, plus visible asks and bids that will help users take more informed trading action(s)
- Accelerate the growth of the ApeX metacommunity as the order book interface bridges the gap between users who are used to utilizing order books for trades and a new realm of trading opportunities offered by the world of DeFi
- Provide higher trading performance with enhanced market exposure with leverage and other trading features
- Support multi-chain deposits and withdrawals for EVM-compatible chains
With the help of StarkWare’s Layer 2 scalability engine (StarkEx), ApeX Pro is able to uphold the promise of decentralized and efficient trading by offering users an optimal combination of security and transparency one would usually see in a DEX, and the speed and usability users are used to seeing on centralized exchanges (CEXs).
Leveraging StarkEx’s use of cryptographic proofs in validating transactions and scalability, ApeX Pro is poised to provide faster transaction processing speeds and some of the lowest gas fees across the DeFi sphere. Engineered for higher liquidity and greater network interoperability, users can access non-custodial trading on ETH and ERC-20 tokens. The upgraded protocol is also ready to support any tokens from EVM-compatible blockchains.
Anatomy of the ApeX Ecosystem
The journey does not stop here. In a rapidly morphing crypto landscape where milestone innovations frequently come into play, ApeX Protocol is charting the course for decentralization to match the needs of individual users — all by kickstarting a new era of Web 3.0 social trading on ApeX Pro.
Social trading is a product familiar to traders in traditional financial markets, where a user observes and follows another seasoned trader’s trading strategy to execute their own trades. Undeniably, this concept is rising in popularity within crypto exchanges, but is currently still newer to the scope of DeFi.
Combined with the powerful matching engine capabilities, ApeX Pro aims to help trading users tokenize data income and realize influence.
Over the coming months, ApeX Pro will launch greater feature and service add-ons so users can be a part of ApeX Protocol’s ecosystem:
- Creation of DIDs: Get access to a customizable, personal trading dashboard
- New Tokens & Perks: NFT and in-game tokens will be made available to users who participate within the ApeX ecosystem
- The ApeX DAO: ApeX is working towards building a DEX infrastructure where ownership of the platform is eventually conferred upon our users
The roadmap is designed to be accessible by open markets, as ApeX continues to foster community-led development and establish sustainable growth practices that can support the protocol in perpetuity.
ApeX Pro Timeline
Q3 2022:
- Public beta launch of ApeX Pro
- Launch of ApeX Pro on mainnet
- Launch of $BANA trade-and-earn pool
Q4 2022:
- ApeSoul minting event
- Social trading feature launch
- Development of ApeSoul ecosystem