ApeX Pro is a decentralized exchange (DEX) recently developed by Bybit, a popular cryptocurrency trading platform. It is rumored that regulatory requirements for centralized exchanges (CEXs) may soon enforce stricter Know Your Customer (KYC) processes, making DEXs like ApeX an attractive alternative for traders looking to avoid such requirements. If you are interested, follow along…
What is Apex Pro?
ApeX Pro is a non-custodial decentralized exchange (DEX) designed for trading perpetual futures contracts in the cryptocurrency market. It is built on the ApeX Protocol, a permissionless platform launched on Arbitrum in early 2022.
It offers several unique benefits for traders, including zero gas fees, access to leverage and minimal slippage. It also provides enhanced security through StarkEx, a Layer 2 scalability engine from StarkWare, and does not require Know Your Customer (KYC) verification.
A DEX without an Automated Market Maker – AMM
ApeX Pro is a DEX platform that uses an order book model rather than an automated market maker (AMM). This allows it to offer a more familiar and straightforward trading experience for a wider range of users. While the AMM model is popular in the cryptocurrency industry, it can suffer from high slippage and impermanent loss risks.
High Performance & Privacy
ApeX Pro is a DEX platform known for its fast processing speeds, handling up to 10 trades and 1,000 order placements/cancellations per second. It uses ZK-proofs and StarkEx to secure transactions and keep most data private, with only balance charges being visible on Ethereum. ApeX Pro also offers fully private decentralized trading, although you will need to go through a KYC procedure to deposit funds into your wallet.
On what blockchains runs ApeX?
ApeX Pro is a multi-chain DEX that currently supports deposits and withdrawals on four popular blockchain networks: Arbitrum, Ethereum (ETH), Binance Chain (BNB), and Polygon (MATIC). It also has the potential to support other Ethereum virtual machines – EVM-compatible chains in the future.
How much Leverage is available on ApeX?
On ApeX Pro, traders have access to leverage of up to 20x. Cross-margin trading is also supported, which allows traders to transfer margins between their different accounts to meet the minimum margin requirements and help avoid liquidation.
What are the fees on ApeX?
In terms of fees, ApeX Pro offers zero gas fee transactions with instant settlement and low trading fees, with a standard maker fee of 0.02% and a taker fee of 0.05%.
What is the APEX Token?
APEX is a cryptocurrency that operates on the Ethereum blockchain as an ERC-20 token. It has a maximum and total supply of 1 billion tokens, and its current circulating supply is nearly 50 million.
APEX is used for various purposes on the platform, including governance and incentivization of the user community through referrals. It is an important part of the ApeX Pro ecosystem and plays a role in the platform’s decision-making processes (governance) and user rewards.
Where to buy the APEX Token?
To purchase APEX tokens, you can use the Bybit or Uniswap. On Bybit, the tokens are available on the spot market against USDT or USDC. Here are the steps to follow:
- Sign up for an account on Bybit.
- Deposit (or trade) USDT or USDC into your account.
- Search for the APEX/USDT or APEX/USDC trading pair on the spot market.
- Place a buy order for the desired amount of APEX tokens.
- Confirm the order and wait for it to be filled.
Conclusion
It is possible that ApeX Pro was developed as a response to increasing regulatory scrutiny in the cryptocurrency market. The decentralized exchange (DEX) combines the best features of both centralized exchanges (CEXs) and DEXs. The platform has a user-friendly interface that is similar to Bybit, and can be accessed through popular wallet providers like MetaMask.
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