Saturday, June 22, 2024

ApeX Protocol Unveils Trade-to-Earn Round 2 with Enhanced Rewards Pool & Extra Layers of Incentives

Saint Vincent, Grenadines, January 22nd, 2024, Chainwire

ApeX Protocol, a leading player in the cryptocurrency trading space and one of the top non-custodial derivatives decentralized exchanges (DEX), is thrilled to announce the highly anticipated launch of Trade-to-Earn (T2E) Round 2 as of January 22, 2024. Following the success of the inaugural event in November 2022, T2E Round 2 promises an even more rewarding experience for ApeX traders with enhanced incentives and a revamped rewards structure.

T2E is a 52-week long program where traders can earn rewards based on their trading activity. The more trades executed, the greater the rewards accumulated. This year, ApeX is introducing exciting updates to make the journey even more rewarding for participants.

Key Highlights of T2E Round 2:

  1. Introduction of $BANANA Token: T2E Round 2 is facilitated by a new $BANANA token on the Ethereum network. A total of 10,000,000 $APEX is locked over a 12-month period to mint $BANANA, at an initial redeem rate of 0.001. Reward tokens, distributed automatically on a bi-weekly basis, will be granted to users trading USDT perpetual contracts on ApeX Pro.
  2. Enhanced Rewards Pool with Potential Airdrop Opportunities: T2E Round 2 introduces an enhanced rewards pool, providing extra layers of incentives and benefits for ApeX traders with potential airdrop opportunities. In addition to $BANANA rewards, participants have the opportunity to claim rewards in partner project tokens. The distribution of airdrop rewards will be determined by traders’ activities (T2E score) and project-specific factors in the coming months.
  3. Maximizing Rewards in 3 Steps:
  • Swap: $BANANA can be easily swapped for USDT via the $BANANA-USDT pool at any time during the 52 weeks.
  • Add Liquidity: By adding $BANANA and USDT to the $BANANA-USDT Pool, traders can acquire LP Tokens. Greater LP token holdings result in amplified $BANANA rewards at the conclusion of each epoch.
  • Hold and Redeem: Holders of $BANANA can redeem $APEX governance tokens on a pro-rata basis after the event period. Acquired $APEX can be utilized in ApeX’s revenue-sharing program through staking, further enhancing users’ holdings with an additional passive income-generating tool on ApeX.

Creating Value for the Community

T2E events are aligned with the principles of crypto and decentralized finance, aiming to reciprocate to the community by enabling them to grow their wealth in a fair, transparent, and rewarding manner.

Tekla I, the Head of Business Development at ApeX Protocol, expressed her enthusiasm about the launch:

“We are excited to welcome traders back for the second iteration of Trade-to-Earn. T2E Round 2 is a testament to our commitment to providing our community with innovative and rewarding opportunities in the crypto space. At ApeX, we believe in the synergy between decentralization and community. T2E Round 2 is our way of rewarding our community for their contributions and dedication to our platform.”

About ApeX

ApeX is a permissionless and non-custodial derivatives decentralized exchange, powered by StarkWare’s Layer 2 scalability engine StarkEx, delivering USDC and USDT cross-margined perpetual contracts with over 30 trading pairs and up to 50x leverage. It is primed to provide permissionless access to the perpetual swaps market with its order book model, as it remains committed to the promises of speed, efficiency, and security with transparency on traders’ preferred derivatives trading assets. 

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Contact

Mariam
mariam@davionlabs.com

Read Also: Nuvo Unveils Nuscription: Revolutionizing Blockchain Trading

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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