Cryptocurrency exchange Bybit confirmed in a Monday press release that ApeX protocol will be the first project on its new Launchpad 2.0.
Bybit’s Launchpad 2.0 consists of a lottery model for new projects. Users can win allocations of new tokens with USDT and also offers the possibility to buy through the Launchpad directly the top-performing tokens that have already launched.
ApeX: swap markets for token pairs
ApeX is best known for being a decentralized, non-custodial, permissionless, censorship-resistant perpetual derivatives protocol.
ApeX protocol allows for the creation of perpetual swap markets on any token pair. According to the press release, it lets users relegate crypto derivatives on the Ethereum layer2 blockchain without the services of an intermediary. The protocol also maintains complete control of the private keys.
ApeX native token
The native token of ApeX protocol is $APEX and is capped at a maximum supply of 1,000,000,000. The token powers the ecosystem via governance, protocol incentives, and staking.
The $APEX token gained investor attention in March 2022 via the presentation of the ApeX original NFT collection that went on sale. ApeX NFT holders can take advantage of the 8% lifetime transaction fee discount and the allocation of $APEX.
In addition, the floor price of ApeX NFTs is defined at 0.87 ETH.
Bybit users can subscribe to the $APEX token via the BitDAO native token BIT or the USDT lottery.
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