ApeX has successfully executed a burn of APEX tokens, decreasing the overall supply to 600 million.
In Brief
With the completion of the APEX token burn, the overall supply has been slashed to 600 million tokens, representing a crucial milestone in the strategic plan to halve the availability of APEX tokens.
Perpetual derivatives protocol ApeX The ApeX team has reported the completion of a significant token burn, effectively reducing the circulating supply to 600 million tokens. This strategic burn is designed to enhance scarcity, which could potentially elevate the token's market value. Furthermore, this operation is set to create a more favorable market scenario by improving the systematic demand-supply relationship.
This operation signifies the third step in their overarching plan to cut the APEX token supply by half, reducing it from 1 billion to a targeted 500 million tokens aimed at increasing market value. The series of burns began earlier this year in January, with another phase conducted in April, each meticulously planned to align the tokenomics of ApeX with the project’s fundamental values.
The APEX token plays a vital role within the ApeX Protocol, enabling profit distribution through the ApeX Staking Program, where APEX or esAPEX token holders can benefit from a portion of trading fees. Additionally, the token serves a crucial function in governance, empowering holders with the ability to influence decision-making on the project’s roadmap and various operational settings.
In accordance with the project’s tokenomics strategy, 63.6% of the total token supply is earmarked for strategic DAO applications, while 14% is allocated to the development team, and 8.6% is set aside for early investors. Furthermore, 5% is divided equally between the ApeX Trade-to-Earn initiative and community incentives, 4.2% is earmarked for OG and predator NFT holders, 2.2% is assigned for liquidity incentives, 1.1% is devoted to the BitDAO Token Swap, and 1% is reserved for the Bybit Launchpad.
ApeX has teamed up with zkLink to unveil ApeX Omni.
The ApeX Protocol is recognized as a permissionless and non-custodial decentralized exchange (DEX). Its flagship offering, ApeX Pro, is geared towards facilitating decentralized derivatives trading through an orderbook framework, offering access to cross-margined perpetual contracts over 45 trading pairs with leverage options of up to 50x.
In recent developments, the project has partnered with a developer focusing on zero-knowledge blockchain technology to launch a new product. This innovative offering is a modular, intent-focused, and multi-chain compatible DEX, designed to enhance the trading experience by integrating an aggregated multichain liquidity framework while delivering impressive performance. zkLink Please keep in mind that the content on this page does not constitute legal, tax, investment, or financial advice. It's crucial to only invest funds that you can afford to lose and to consult with a financial advisor if you have any uncertainties. For additional details, we recommend referring to the terms and conditions as well as the help and support resources provided by the issuer or advertiser. MetaversePost is dedicated to providing accurate and impartial reporting; however, market conditions can fluctuate without notice. ApeX Omni Alisa, a passionate journalist at Cryptocurrencylistings, specializes in the fields of cryptocurrency, zero-knowledge proofs, investments, and the vast universe of Web3. With a sharp focus on emerging trends and technologies, she provides insightful coverage aimed at keeping readers informed and engaged in the rapidly changing world of digital finance.
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