As the spot market is becoming increasingly saturated, along with the advancement of the cryptocurrency market, derivatives trading is becoming more and more popular, requiring derivatives exchanges to increasingly improve to meet the requirements. fabricate. Apollox Finance is a project born in that context. So what is Apollox? Let’s find out with us in this article.
To better understand the project, people can read the articles below:
- What Are Derivatives? Powerful Profit Tool for Crypto Winter
- What Are Yield Derivatives? Will Yield Derivatives Become the Next Trend of Yield Farming
Overview of Apollox Finance
What is Apollox Finance?
Apollox Finance is a derivatives exchange, with high leverage, cheap transaction fees and low slippage.
Mechanism of action
Apollox Finance has two versions, including Apollox Finance v1 and Apollox Finance v2.
Apollox Finance v1 is a derivatives exchange using order book mechanism, operating mainly on BNB chain, Ethereum, ZkSync, Base, Arbitrum, Manta.
The v1 version of Apollox will allow users to experience the trading interface as used on CEXs. People will connect the wallet to the exchange, then transfer tokens (bep-20 or Erc-20) into the smart contract for custody and escrow. The ledger will then record the user’s balance and allow them to make transactions. PnL will be recorded by the ledger and after users pay their losses or returns they will be able to withdraw their funds.
With the V1 model, there will be about 95 different types of tokens, with leverage up to 250x with transaction fees of 0.02% for makers and 0.05% for takers.
The v2 version of Apollox Finance is implemented onchain, quite similar to the GMX model. Everyone can participate in providing liquidity by depositing tokens such as BUSD, USDT, USDC, BTC, ETH and BNB. Then receive the token representing the shopping cart, ALP. All traders will execute trades with liquidity coming from the ALP pool, which gets price data from Chainlink’s Oracel and Binance Oracel.
This ensures transactions take place quickly, accurately, and without slippage. With version v2, users can use leverage up to 50x with coins, and 100x with forex trading pairs. Similar to GMX, traders and liquidity providers will be enemies of each other, whichever side makes a profit, the other side will suffer a loss. To compensate LPs, Apollox will use 50% of the fees collected from transactions to reward LPs.
Project Development Roadmap
Quarter 4/2023
- Launch of DEX SDK toolkit for DeFi projects
- Add more types of derivative transactions
- Add new features on version v2
- Higher leverage
- Continue expanding to other chains
- Added Telegram Trading Bot feature
Team
- Caption: Founder of Apollox Finance with more than 10 years of experience in traditional finance and cryptocurrency
- Venus: Executive team leader, has experience working at MEXC Global
- Katherin: Development team leader, has more than 6 years of experience in the cryptocurrency market, and has worked at many famous cryptocurrency exchanges.
Investor
The project received investment from Binance Labs, Lux Capital, 3 Commas, Kronos,…, however the amount has not been disclosed.
Tokenomics
Token information
- Launch of DEX SDK toolkit for Defi projects
- Add more types of derivative transactions
- Add new features on version v2
- Higher leverage
- Continue expanding to other chains
- Added Telegram Trading Bot feature
Team
- Caption: Founder of Apollox Finance with more than 10 years of experience in traditional finance and cryptocurrency
- Venus: Executive team leader, has experience working at MEXC Global
- Katherin: Development team leader, has more than 6 years of experience in the cryptocurrency market, and has worked at many famous cryptocurrency exchanges.
Investor
The project received investment from Binance Labs, Lux Capital, 3 Commas, Kronos,…, however the amount has not been disclosed.
Tokenomics
Token information
- Token name: APX Finance
- Ticker: APX
- Total supply: 4,200,000,000
Token Allocation
- Retroactive Mining Rewards: 350,000,000
- List on PancakeSwap: 250,000,000
- User Trading Rewards: 2,100,000,000
- Marketing & Partnership: 400,000,000
- Community Treasury: 1,100,000,000
Exchanges
Update…
Project Information Channel
- Website: https://www.apollox.finance/en
- Twitter: https://twitter.com/APX_Finance
- Telegram: https://t.me/apolloxchange
- Discord:
Summary
The cryptocurrency market is constantly expanding. Along with the weakening of centralized exchanges, decentralized exchanges in general and derivatives exchanges in particular are gradually becoming a huge piece of the cake that every project wants to grab. Apollox Finance is showing that they are doing quite well in this race. If you are interested in the project, please follow me to update the latest news.
