Time: Apr 26th, 12PM utc
Venue: 🦍nowheredao-apex
Rewards: One Quark-Ⅰ NFT for Every Participant
Announcement: https://twitter.com/nowhereDAO/status/1518518095349907456
SEGMENT 1: INTRODUCTION
Q1. Before we start, can you introduce ApeX briefly to our community?
ApeX is a decentralized and non-custodial derivatives protocol that facilitates the creation of perpetual swap markets for any token pair. With ApeX, users can trade crypto derivatives directly on the Ethereum blockchain without any intermediaries. The protocol offers unlimited flexibility as users can create markets on any underlying asset while maintaining control of their private keys.
Q2. Are you willing to let us know the team and backers behind ApeX?
Our team is anonymous, but ApeX has raised significant capital in the Private Funding Round Led by Dragonfly. Alongside Dragonfly, other prominent investors such as Jump Trading, Tiger Global, Mirana Ventures, Kronos, M77 Ventures, and CyberX have also participated and contributed to the funding round. The ApeX project is proud to be backed by such influential and leading investment firms in the industry.
Q3. Can you briefly describe the top milestones you have achieved?
ApeX launch ApeX protocol launched its beta version on Arbitrum mainnet on February 28, 2022
ApeX NFT ApeX released a total number of 4,580 pieces of its original series of NFTs with special attributes to the public on March 8, 2022, and sold out on March 11, 2022. ApeX NFT has the subscription interest of the protocol’s governance token, as well as the proof of equity interest of its VIPs in ApeX’s future Loyalty Program. Apart from trading and token equity attributes, ApeX NFTs are very valuable as art collection pieces. A total of 20 ApeX OG NFTs were sold in the form of whitelist invitations, and the owners of these 20 ApeX OG collections are well-known leaders, senior researchers, and investors of DeFi projects. OG NFTs are the most valuable and rarest ApeX Game NFTs. Holder of OG NFTs, are entitled to the most exclusive user benefits on the ApeX protocol and will be eligible to participate in protocol governance and more on the ApeX project. The remaining 4,560 ApeX Predators NFTs were successfully minted on March 11, 2022, bringing early adopters to the protocol and building the community together. For more insights, visit: https://apexdex.medium.com/apex-nfts-public-sale-round-completed-e917f7e88814
Investor APEX seed funding round led by global investors including Dragonfly Capital Partners, Jump Trading, Tiger Global Management, Mirana Ventures, CyberX, Kronos and M77.
ApeX Airdrop & Giveaway In order to feedback community members' support for APEX and invite more new friends, we have held a lot of events and are currently holding a great airdrop event.
Successfully Ended: ApeX protocol Meme competition https://apexdex.medium.com/apex-protocol-meme-competition-c8ee12dd227a
Ongoing Campaigns: ApeX 10,000 USDT Giveaway Campaign https://gleam.io/CVUTJ/apex-10000-usdt-giveaway
ApeX Airdrop events
https://apexdex.medium.com/apex-protocol-airdrop-bonanza-round-1-1630d7895131
Q4. Security is very important for any platform, how do you make sure it’s safe to use ApeX?
All smart contracts on the ApeX protocol have been audited by professionals to ensure high security. You may click here to view the audit report. The time-weighted average price (TWAP) algorithm has also been employed to minimize a large order's the impact on the market. Stay tuned for our upcoming bug bounty programs.
Q5. Your NFT looks so cool, how can we get it and are there any benefits for the holders?
Yes, the 4,560 ApeX Predators NFTs were successfully minted on March 11, 2022, bringing early adopters to the protocol and building the community together. For more insights, visit:
https://apexdex.medium.com/apex-nfts-public-sale-round-completed-e917f7e88814
ApeX Loyalty Program enables NFT holders to get the eligibility to grab a tiered transaction fee discount. ApeX predator NFT holders will enjoy a 8% lifetime transaction fee discount when trading on the ApeX protocol, while OG NFT holders will enjoy a 50% lifetime transaction fee discount.The public sale of the ApeX NFT has facilitated the ApeX protocol to communicate and build its brand value and culture to audiences in the Web 3.0 space.
The ApeX NFT gaming phase, known as One Last Ape Standing, is an in-game activity where participants who hold the ApeX NFTs are eligible to receive the ApeX token from the reward pool within a period of time.
In addition, to take part in the in-game activities of One Last Ape Standing, you can purchase Apex NFT on OpenSea at any time. Users have the option to burn their NFT to withdraw from the game anytime.
The entry tickets for the ApeX NFT Game and the ApeX Loyalty Program are the ApeX Predator NFTs. All early holders of Predator NFTs are entitled to exclusive benefits — the longer the holding period, the more rewards received. An amount of 0.2TH will be given to ApeX Predators NFT holders for each NFT held. When the ApeX NFT Game officially starts, all rebate rewards will be issued accordingly.
In short, ApeX NFTs on the ApeX protocol serves the following utilities:
- ApeX NFTs will serve as the only proof within ApeX’s Loyalty Program in the future.
- ApeX NFTs will have the subscription interest of the protocol’s governance token.
- ApeX NFTs holders will be granted more privileges throughout its marketing campaigns, airdrop activities, and major events at the product level.
SEGMENT 2: TWITTER QUESTIONS
Q6. What strategy will you implement to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token and nfts?
ApeX has a strong marketing team. While doing research and development for the best, we will strengthen the promotion of the market. We have recently conducted a series of interactions with bybit, you can know more here: https://twitter.com/OfficialApeXdex/status/1517047717360373760
At the same time, we pay attention to community building and widely listen to users' opinions, so that more people can realize the value of tokens and the value of NFT.
Q7. What are your main features that distinguish you from other projects and what competitive advantages do you have?
Currently, most DEX platforms offer USDC-collateralized contracts. While ApeX will also offer USDC-collateralized contracts, we aim to focus on coin-collateralized contracts that once dominated the crypto market.
Stablecoins are not native assets of the blockchain system. While the emergence of stablecoins has led to the rapid growth of DeFi and more applicable scenarios for the blockchain ecosystem, they still face challenges such as external audits and regulations, and algorithm-based stablecoins are not mainstream yet. ApeX expects to provide users with coin-collateralized products for leveraged trading using only the BASE assets.
In addition, liquidity provision usually requires treasury allocation in project native token and quote taken from the protocol team, the decentralized autonomous organization (DAO), or the asset issuer, which may cause a heavy financial burden to the project.
ApeX aims to resolve this pain point by establishing a platform where the protocol team and DAO can provide liquidity using only the project native token while facilitating trades and other application scenarios.
Q8. There are not many decentralized derivatives trading platform on the market. Can you share some things that novice users need to pay attention to when derivatives trading? What are the advantages of derivatives trading on ApeX Protocol? What is the difference of ApeX Protocol?
ApeX is a decentralized and non-custodial derivatives protocol that facilitates the creation of perpetual swap markets for any token pair. Key features of the ApeX Protocol include:
- Permissionless cryptocurrency perpetual contract trading with leverage
- Elastic Automated Market Maker (eAMM)
- Protocol Controlled Value (PCV)
Q9. What is the Best way to follow All your Upcoming news and updates? What are your plans in coming Future???
Follow ApeX Protocol on social media to stay up to date with all the latest developments.
Website: https://app.apex.exchange
Twitter: https://twitter.com/OfficialApeXdex
Medium: https://apexdex.medium.com
Discord: https://discord.gg/366Puqavwx
Official Community Telegram: https://t.me/ApeXdex
Official Announcement Telegram: https://t.me/ApeXdexANN
Upcoming Campaigns:
ApeX Content campaign
ApeX NFT Rebates Campaign
ApeX NFT game- One last Ape Standing
ApeX x IZUMI Joint liquidity mining pool Program
Q10. Can you give an overview of your Tokenomics, and the UTILITY of Token? How about the IDO plan?
APEX token distribution is as follows: Team and early investors: 23% of the total token supply will be allocated to the core team and early investors with a 12-month cliff starting from TGE followed by a 2-year linear vesting. Core team & advisors (15%) Early investors (8%)
Strategic DAO Allocation: The remaining 77% will be allocated to the DAO and community. These include allocations for participation rewards, ecosystem building, and liquidity bootstrapping. 100% unlocked at TGE but tokens allocated to the DAO will be locked for 36 months.
SEGMENT 3: LIVE QUESTIONS
Q11. I want to know how your NFTs are obtained and what kind of empowerment is there？
ApeX protocol will raise initial liquidity for its governance token via an Initial NFT Offering, where a total of 4580 unique Non-Fungible Tokens (NFTs) will be issued and sold on OpenSea. The Initial NFT Offering will be conducted in two rounds: OG-Round and Public-Round. OG-Round
20 unique ApeX NFTs will be minted and sold to whitelisted OG supporters. OG-Round NFT holders will receive ApeX tokens which are subjected to a 6-month cliff followed by a 6-month vesting period at a fixed exchange rate. In addition, OG-Round NFT holders will enjoy a lifetime 50% trading fee rebate. Public-Round
4,560 unique ApeX NFTs will be minted and sold to public supporters. A Public-Round NFT holder’s address will also enjoy a lifetime 8% trading fee rebate as long as the address still holds the NFT.
Q12. I am interested to invest in your project. When and where can I buy your tokens? Is it already listed exchanges?
Here is all you need to know about $APEX tokens on ByBit : STEP 1. Choose between the BIT Subscription and USDT Lottery allocation models: You can either commit BIT to subscribe to APEX allocation or commit USDT. You cannot participate in both at the same time.
STEP 2. Five (5) — day Snapshot Period Both the BIT Subscription and USDT Lottery record the daily average balance of the committed tokens for five (5) days. Starts: 2022–04–22 00:00 UTC Ends: 2022–04–26 23:59 UTC Daily average balance = The sum of hourly snapshots of your BIT or USDT balance in a day/24. Hourly snapshots automatically record the balance of BIT or USDT in your Spot Account, Derivatives Account, and Earn Account.
STEP 3. Subscription Period During the Subscription Period participants can commit their funds by clicking on the “Commit Now” button. Subscription period lasts for 7.5 hours. Starts: 2022–04–27 03:30 UTC Ends: 2022–04–27 10:59 UTC
A couple of things to keep in mind: You must complete the KYC L1 requirement or business verification to be eligible for the event. Users from restricted countries are not allowed to participate. The tokens you’ve committed will be locked and cannot be accessed for transfers, withdrawals or trading until after the final distribution of the APEX.
If you have selected the Lottery model: You must commit 100 USDT for a lottery ticket. Each participant can only subscribe to one ticket. The probability of winning = The total number of the winning tickets / the total number of lottery participants of this Launchpad project *100% If you have selected the Subscription model: The minimum amount required is 50 BIT and the maximum amount is determined by your daily average BIT balance recorded during the snapshot period. Please be informed that the maximum allocation of APEX token is capped at 7000 and you can’t subscribe to an allocation exceeding the cap. You can subscribe multiple times.
STEP 4. Distribution Period The Distribution period will last for 1 hour and based on your token allocation result, the BIT or USDT will be deducted from your committed amount, while your APEX tokens and remaining BIT or USDT will be credited back to your Spot Account. Starts: 2022–04–27 11:00 UTC Ends: 2022–04–27 11:59 UTC
If you have selected the Subscription model:
Your final allocation of APEX = (the amount of token you’ve committed / total amount of token committed by all participants) * total amount of APEX allocated to Launchpad.
Please note that the max. amount of APEX you can receive is capped at 7000, and the amount that exceeds the limit will be allocated to participants who haven’t reached this hard cap yet. Based on the final APEX allocation result, the corresponding amount of committed token will be deducted from your committed amount, while the APEX tokens allocated to you and the remaining amount of committed token will be credited back to your Spot Account.
If you have selected the Lottery model: Winners will each receive 400 APEX, and the remaining amount of the committed token, if any, will be credited back to their Spot Account. Non-winning participants will get the full amount of the committed token back.
You can know more here: https://apexdex.medium.com/apex-protocol-is-coming-to-bybit-launchpad-2-0-97064d5f7b08
Q13. Could you please expand a bit on your tokenomics?
15% of the supply is reserved for the ApeX team, or 150,000,000 $APEX, with a 12-month cliff and a vesting period of 24 months. In other words, it will take a total of three years to unlock $APEX. No $APEX can be unlocked in the first year, and $APEX can be unlocked linearly starting at the beginning of the second year.
The amount of $APEX reserved for the team is similar to equity in a company. As such, the vesting period for team members who join late will be extended accordingly. For instance, member A joins the team at the very beginning, and his cliff period will start from the time when TGE starts. His $APEX will start to be unlocked linearly one year thereafter, and fully released within three years. Assume that member B joins the team one year after the TGE starts, his cliff period will therefore start one year after the TGE starts.
Given this, it’s likely that it would take more than three years to fully unlock the 15% of $APEX tokens reserved for the team. With a certain proportion of $APEX reserved for the future team, talents will be continuously attracted to participate in the development of the ApeX protocol.
Early Investors refer to investors in the seed round. In other words, 8% of the total supply of $APEX is allocated to Dragonfly, Jump Trading, Tiger Global, Mirana, CyberX, Kronos and M77 Ventures. These tokens will also have a one-year cliff and a vesting period of two years. That is, their $APEX will start to be unlocked linearly after one year, and can be fully redeemed after two years.
The strategic DAO allocation, which accounts for the largest portion of 77%, is used for the development of the DAO ecosystem. Within this sphere, tokens will be allocated to holders of OG NFTs and Predator NFTs. $APEX allocated to Predators NFT holders: 4,560 X 4,500 = 20,520,000 $APEX $APEX allocated to OG NFT holders: 20 X 1,041,666 = 20,833,320 $APEX
A total of 20,520,000 $APEX will be distributed to holders of Predators NFTs. These tokens will be released gradually as users continue to burn their NFTs after the ApeX NFT Game starts. Because the game lasts for a total of six months, these tokens will be released within six months. If some NFTs are not yet burned after the game ends, the release period of these tokens may be extended.
A total of 20,833,320 $APEX will be distributed to holders of OG NFTs, which will be released in one year. The cliff period will last for half a year, with no $APEX unlocked. After the cliff period ends, $APEX will start to be released linearly within half a year. In addition, there are three key modules: mining, bonding and staking with a total vesting period of 48 months, or four full years. Mining means that users can get $APEX via derivatives trading on the ApeX protocol.
You can know more here: https://apexdex.medium.com/apex-protocol-tokenomics-e0dde6c8609a
Q14. Have you made any plan for regional community?
In addition to the English community, we have also established 10+ regional communities. Welcome all!
Welcome all to join! Our Discord: https://discord.gg/366Puqavwx
Q15. Use of nft collection
The ApeX team has adopted the idea of NFT gaming hence, we present the ApeX NFT Game — One Last Ape Standing. The main gameplay and inspiration behind the ApeX NFT game is the squid game model, or a coordination game. Each individual can decide whether he or she would want to immediately receive tokens, or HODL them for a longer time and stand a chance to earn from a larger pool that includes tokens forfeited by those who burn their NFTs early.
Each in-game ApeX NFT (ApeX Predator NFTs) is worth up to 4,500 $APEX. Holders can get a bonus within the ApeX NFT Game that will last for 6 months, and stand a chance to win up to 123,630 APEX by participating in the ApeX NFT Game.
Holders need to burn their ApeX predator NFTs to redeem the APEX tokens. ApeX NFT game rewards can be divided into two parts, which are base rewards and bonuses. The amount of bonuses one can get depends on two factors: holding time and the number of remaining NFTs in the game.
The rewards an NFT holder can get within the ApeX NFT game is calculated as follows:
Time passed: the length of time you hold the NFT during the game period, which will last for a total of 180 days. Vault: current prize pool amount. nftCount(remain): the number of remaining NFTs in the game. 1500 stands for APEX tokens that will be distributed linearly one the game begins.
In summary, the longer your NFT holding period, the more $APEX rewards you can grab. Except for the main gameplay itself, ApeX will launch a series of marketing campaigns jointly with other star NFT projects, which will benefit all ApeX NFT holders.