- ApeX Protocol (APEX) is a decentralized derivatives trading platform and the 11th project on Bybit Launchpad
- Bybit has revamped its Launchpad program and now allows users to participate with their USDT in addition to BIT
- 10 million APEX tokens will be distributed in the IEO at an initial sale price of 0.05 USDT per token
ApeX Protocol goes live on Bybit Launchpad 2.0
Bybit has announced the eleventh Launchpad project, a decentralized derivatives trading platform ApeX Protocol (APEX). In total, there will be 10 million APEX tokens, at an initial price of 0.05 USDT, made available for Launchpad participants.
ApeX Protocol is a decentralized finance (DeFi) non-custodial trading service that facilitates the creation of perpetual swap markets for any token pair. ApeX users can trade leveraged crypto derivatives on a decentralized platform that uses Elastic Automated Market Maker (eAMM) to price assets using advanced mathematical formulas.
Moreover, the Apex Protocol team has designed an innovative APEX token-based incentive program to boost the growth of the platform and give users a chance to earn passive income via staking, liquidity providing, and referrals. The protocol will automatically disburse 30% of all trading fees collected on the platform among APEX stakers.
In addition to the new Initial Exchange Offering (IEO), Bybit has also announced changes to its Launchpad program. Whereas previously, Bybit users were able to participate in the program only with their BitDAO (BIT) holdings, the exchange has now expanded its offering to include the largest stablecoin Tether (USDT) as well. However, the final token allocation functions differently between the two assets.
Users that commit BIT will receive APEX tokens based directly on the token amount they commit in relation to other users, the same as before. However, users that commit USDT will enter a lottery draw that will see each randomly selected winner receive a 400 APEX allocation. Participants that don’t win the lottery ticket will receive their USDT back after the program ends.
Historically speaking, Bybit’s Launchpad program has been a hotbed of lucrative investment opportunities. Case in point, blockchain-powered mobile payment service Kasta (KASTA) debuted on Bybit earlier this year and is currently changing hands 540% above its initial Launchpad price. Here are the yields of the last five projects that launched on Bybit’s Launchpad platform:
David is a crypto enthusiast and an expert in personal finance. He has created numerous publications for different platforms. He loves to explore new things, and that’s how he discovered blockchain in the first place.