ByBit Apex protocol

Elastic automated market maker (eAMM)

The ApeX protocol is based on an elastic automated market maker (eAMM) paradigm in which price discovery is based on the “constant product” formula. The eAMM replicates the experience of trading on a spot basis and considerably enhances capital efficiency. It enables the supply of a single asset as the base asset while synthesizing the quote asset.

(x * y = k)
x * y = k equation

Funding Rate

The funding rate pegs perpetual contracts’ prices to the underlying spot price. The rebase mechanism maintains the perpetual contract price within a specified range of the underlying spot price.

Fees for funding

Funding will be swapped immediately between individuals holding long and short positions based on the difference in spot prices on ApeX and other DEX pools.

Liquidity Pool

When users want to add liquidity to the eAMM, they interact with the smart contract and deposit the margin token or BASE asset. The eAMM will mint the QUOTE asset based on the current index price provided by the oracle to keep the price of the BASE asset equal to spot prices on the DEX pool. This action doesn’t affect the price or risk position of the current pool. A user withdraws the BASE asset to remove liquidity from the eAMM, and the eAMM destroys the corresponding QUOTE asset based on the current spot price. This keeps the BASE asset price anchored to spot prices on the DEX pool.

Pool

When users want to add liquidity to the eAMM, they interact with the smart contract and deposit the margin token or BASE asset.

Coin-collateralized Leverage Trading

Most DEX systems currently handle contracts denominated in USDC. While ApeX will provide USDC-collateralized contracts, we want to focus on the previous market leader.

Referral Program for ApeX Protocols

To generate a referral link, make your way to the referral page and connect your wallet first.

Fees and Costs

The ApeX protocol charges a 0.1 percent transaction fee on all transactions. Which allocates as follows:

Airdrop

Before covering Apex tokens, let’s go over the airdrop first since it will be ending pretty soon.

Apex Tokens

ApeX protocol has a maximum supply of 1,000,000,000. The token serves the following utilities:

Bonding

The ApeX protocol allows users to purchase $APEX at a discount rate by bonding. This is done by creating an eAMM pool, which the user then bonds to. The $APEX purchased will be locked for a period of time, during which the user can earn $APEX by providing liquidity to the eAMM pool.

Bonding
Apex bonding

Staking

Staking on the ApeX Protocol allows users to earn rewards in tokens for providing liquidity or holding native tokens.

Apex NFTs

ApeX protocol debuted its beta version on the Arbitrum mainnet. On March 8, 2022, it issued 4,580 pieces of its initial NFTs with unique qualities to the public.

https://opensea.io/collection/apex-nft-predator
Oh yeah, and then there’s me. I also own one.

Launchpad

https://www.bybit.com/register?affiliate_id=6776&group_id=1653&group_type=1

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