Source: ApeX pro

Recently, within a week, the platform token APEX of the decentralized derivatives trading protocol ApeX pro has experienced a surge in price, skyrocketing from 0.3 USD to over 1.4 USD within two days, with a staggering increase of 279%. What is the background of ApeX Pro and what are the driving factors behind the surge in its token price? Does this represent a narrative of potential development behind the project, and how can investors seize every investment opportunity?

Apex Protocol Introduction

ApeX Protocol is a ZK-based decentralized, non-custodial, permissionless derivatives trading protocol (DEX). It is incubated by Davion Labs, a blockchain and cryptocurrency-focused incubator that is dedicated to discovering high-quality projects in the Web3 space. ApeX has received investment from institutions such as Dragonfly, Mirana, Tiger Global, Jump Trading, Kronos, CyberX, Cobo, and M77 Ventures.

Based on ZK, multi-chain order book dex.

As a dex, ApeX Pro achieves efficient trading experience for users by providing perpetual contract trading mode with order book model. At the same time, the assets of traders are completely on-chain and controlled by themselves with private keys, and ApeX ensures the security of user assets through non-custodial assets. With the support of StarkWare ZK Rollup scaling and security solution, ApeX achieves consistency and complete verification of off-chain and on-chain data, ensuring the security and privacy protection of user transactions, and is a complete multi-chain application product in the ZK track. Compared with similar products dYdX and GMX, ApeX has added mechanisms such as mining reward repurchase and referral rewards, as well as providing more favorable transaction fees, with more development potential.

APEX Token

APEX token is the governance token of the ApeX protocol, with a total supply of 1 billion. 23% of the tokens are allocated to the core team and early investors, while the remaining 77% are used for participation rewards, ecosystem development, and liquidity incentives for platform construction. APEX holders have the right to participate in platform governance and share protocol incentives.

Recently, within a week, the price of APEX token skyrocketed from 0.3 USD to 1.4 USD, with a surge of 279% within two days.

What are the driving factors behind the surge in ApeX token price?

We comprehensively analyze the development status, business model, ecological construction, token model, and product development roadmap of ApeX based on its own protocol.

ApeX Potential for Value Discovery

From the speed of development of ApeX's current business, the depth of construction in ecological development, and the open and promising product development roadmap, the rise of its token is a manifestation of the project's value. The staking plan and LP dividend plan in its token model bind more project revenue to token holders. Up to now, the platform has distributed $712,818 to participating users. These measures have accelerated the casting speed of the intrinsic value of its token, and ApeX's upcoming token buyback and destruction plan will enhance the scarcity of its token through a tight token model. These factors undoubtedly have driven the skyrocketing price of ApeX tokens. In addition, what is more attractive is that ApeX has expanded the depth of cooperation with many ecological partners, and ApeX token holders have a great opportunity to receive airdrops from its partners, including Starkware products. It is also worth noting that compared with similar products dYdX and GMX, whose market values have exceeded $500 million, APEX's market value is only around $50 million, and its future value potential cannot be underestimated.

This article is from a submission and does not represent the views of BlockBeats.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia