What is ApeX?
ApeX is a decentralized and non-custodial derivatives protocol that allows users to create and trade perpetual swap markets for any token pair directly on the Ethereum blockchain. The protocol operates through a series of immutable and persistent smart contracts, providing a fully permissionless trading environment without the need for intermediaries. This approach ensures that users maintain full control over their assets while trading.
ApeX features an Elastic Automated Market Maker (eAMM) system, which uses a pool of liquidity as collateral to back all trading positions. This allows traders to take leveraged long or short positions without needing counterparties, as seen in traditional centralized exchanges. The eAMM system adjusts based on the amount of funding required, ensuring that more liquid markets have larger liquidity pools.
The platform also includes Protocol Controlled Value (PCV), which keeps track of all open positions and maintains collateral status, incentivizing traders to maximize their profits without the need for liquidations by third parties. ApeX’s governance is managed through its native token, APEX, which enables holders to participate in protocol governance, earn rewards through staking, and benefit from liquidity mining programs.
ApeX offers several unique features, including zero gas fees for trading, intent-centric design for seamless multi-chain experiences, and extensive support for a wide range of trading products. It is designed to provide a secure, transparent, and efficient trading experience for users globally.