{"id":19220,"date":"2022-04-23T15:43:29","date_gmt":"2022-04-23T12:43:29","guid":{"rendered":"https:\/\/esatoshi.club\/?p=19220"},"modified":"2022-04-23T15:43:32","modified_gmt":"2022-04-23T12:43:32","slug":"apex-protocol-x-satoshi-club-ama-recap-from-the-23rd-of-april","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2022\/04\/23\/apex-protocol-x-satoshi-club-ama-recap-from-the-23rd-of-april\/","title":{"rendered":"ApeX Protocol x Satoshi Club AMA Recap from the 23rd of April"},"content":{"rendered":"\n<p>Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from  ApeX Protocol  and our guest was . The AMA took place on the 23rd of April.<\/p>\n\n\n\n<p>The AMA session was divided into 3 parts with a total crypto reward pool of $500<\/p>\n\n\n\n<p>In this AMA Recap, we will try to summarise the most interesting points for you.<\/p>\n\n\n\n<h2><strong>Part 1 \u2014 introduction and questions from the Telegram&amp;WebSite<\/strong><\/h2>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Hello&nbsp; Satoshi Club!\nWe are happy to announce our AMA session with ApeX Protocol!&nbsp; Welcome to Satoshi Club<\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Greetings, dear Satoshi Club community! <\/p>\n\n\n\n<p>Today our guest is @JasonApexprotocol<\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>@<strong>Jason<\/strong>Apexprotocol\nwelcome to Satoshi Club <\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>Hi, nice to meet all of you here.<\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Hello! How&#8217;s going?<\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>I am ready, now we can start the ama, thanks.<\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Awesome! Let&#8217;s start it with intro <\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Could you please introduce yourself and tell us more about\nApeX Protocol <\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Nice to e-meet you &nbsp;welcome to Satoshi club<\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>ApeX is a decentralized and non-custodial derivatives\nprotocol that facilitates the creation of perpetual swap markets for any token\npair. <\/p>\n\n\n\n<p>Key features of the ApeX Protocol include: <\/p>\n\n\n\n<p>Permissionless cryptocurrency perpetual contract trading\nwith leverage <\/p>\n\n\n\n<p>Elastic Automated Market Maker (eAMM) <\/p>\n\n\n\n<p>Protocol Controlled Value (PCV)<\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>With ApeX, users can trade crypto derivatives directly on\nthe Ethereum blockchain without any intermediaries. The protocol offers\nunlimited flexibility as users can create markets on any underlying asset while\nmaintaining control of their private keys.<\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Also we would like to know more about your team. Who is on\nthe project team core?<\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>ApeX protocol is incubated by Davion Labs, a crypto and\nblockchain impact incubator backed by Bybit. <\/p>\n\n\n\n<p>It has raised significant capital in the Private Funding\nRound Led by Dragonfly. Alongside Dragonfly, other prominent investors such as\nJump Trading, Tiger Global, Mirana Ventures, Kronos, M77 Ventures, and CyberX\nhave also participated and contributed to the funding round. The ApeX project\nis proud to be backed by such influential and leading investment firms in the\nindustry.<\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>That&#8217;s true! Famous VCs<\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p>these influential names speak volumes <\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>Now we are an anonymous project, and incubated by Davion\nlabs, let&#8217;s move to next question, thanks.<\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Sure!<\/p>\n\n\n\n<p>Let&#8217;s start with the questions from our community &nbsp;first part!<\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p>@JasonApexprotocol thanks for your great introduction<\/p>\n\n\n\n<p><em>Q1 from Telegram user\u00a0\u00a0 @Asela1112<\/em><\/p>\n\n\n\n<p><em>I heard that $APEX will live on ByBit exchange on 22nd of April to 26th of April. So Can anyone get a chance to buy some $APEX tokens? Or Should users pass the KYC process in order to buy $APEX tokens? Any way, How many amount of $APEX tokens will there be? And also I know that there is a lottery round for the users. Can you tell us more details about this lottery round &amp; the rules of the lottery round? How about the maximum &amp; minimum amount of $APEX tokens for one eligible user? After 26th of April, Will the $APEX tokens be listed on ByBit exchange So that Users can trade $APEX at desirable times?<\/em><\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>Good question. Here is all you need to know about $APEX\ntokens&nbsp; on ByBit :<\/p>\n\n\n\n<p>STEP 1. Choose between the BIT Subscription and USDT Lottery\nallocation models: You can either commit BIT to subscribe to APEX allocation or\ncommit USDT. You cannot participate in both at the same time.<\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>STEP 2. Five (5) \u2014 day Snapshot Period<\/p>\n\n\n\n<p>Both the BIT Subscription and USDT Lottery record the daily\naverage balance of the committed tokens for five (5) days.<\/p>\n\n\n\n<p>Starts: 2022\u201304\u201322 00:00 UTC<\/p>\n\n\n\n<p>Ends: 2022\u201304\u201326 23:59 UTC<\/p>\n\n\n\n<p>Daily average balance = The sum of hourly snapshots of your\nBIT or USDT balance in a day\/24.<\/p>\n\n\n\n<p>Hourly snapshots automatically record the balance of BIT or\nUSDT in your Spot Account, Derivatives Account, and Earn Account.<\/p>\n\n\n\n<p>If you have selected the Lottery model: Your daily average\nbalance of USDT should be equal to or greater than 100 USDT during this period.<\/p>\n\n\n\n<p>If you have selected the Subscription model: Your daily\naverage balance of BIT should be equal to or greater than 50 BIT during this\nperiod, and it will determine the maximum allocation of the project token you\ncan access.<\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>STEP 3. Subscription Period<\/p>\n\n\n\n<p>During the Subscription Period participants can commit their\nfunds by clicking on the \u201cCommit Now\u201d button. Subscription period lasts for 7.5\nhours.<\/p>\n\n\n\n<p>Starts: 2022\u201304\u201327 03:30 UTC<\/p>\n\n\n\n<p>Ends: 2022\u201304\u201327 10:59 UTC<\/p>\n\n\n\n<p>A couple of things to keep in mind:<\/p>\n\n\n\n<p>You must complete the KYC L1 requirement or business\nverification to be eligible for the event. Users from restricted countries are\nnot allowed to participate.<\/p>\n\n\n\n<p>The tokens you\u2019ve committed will be locked and cannot be\naccessed for transfers, withdrawals or trading until after the final\ndistribution of the APEX.<\/p>\n\n\n\n<p>If you have selected the Lottery model: You must commit 100\nUSDT for a lottery ticket. Each participant can only subscribe to one ticket.<\/p>\n\n\n\n<p>The probability of winning = The total number of the winning\ntickets \/ the total number of lottery participants of this Launchpad project\n*100%<\/p>\n\n\n\n<p>If you have selected the Subscription model: The minimum\namount required is 50 BIT and the maximum amount is determined by your daily\naverage BIT balance recorded during the snapshot period. Please be informed\nthat the maximum allocation of APEX token is capped at 7000 and you can\u2019t\nsubscribe to an allocation exceeding the cap. You can subscribe multiple times.<\/p>\n\n\n\n<p>STEP 4. Distribution Period<\/p>\n\n\n\n<p>The Distribution period will last for 1 hour and based on\nyour token allocation result, the BIT or USDT will be deducted from your\ncommitted amount, while your APEX tokens and remaining BIT or USDT will be\ncredited back to your Spot Account.<\/p>\n\n\n\n<p>Starts: 2022\u201304\u201327 11:00 UTC<\/p>\n\n\n\n<p>Ends: 2022\u201304\u201327 11:59 UTC<\/p>\n\n\n\n<p>If you have selected the Subscription model:<\/p>\n\n\n\n<p>Your final allocation of APEX = (the amount of token you\u2019ve\ncommitted \/ total amount of token committed by all participants) * total amount\nof APEX allocated to Launchpad.<\/p>\n\n\n\n<p>Please note that the max. amount of APEX you can receive is\ncapped at 7000, and the amount that exceeds the limit will be allocated to\nparticipants who haven\u2019t reached this hard cap yet. Based on the final APEX\nallocation result, the corresponding amount of committed token will be deducted\nfrom your committed amount, while the APEX tokens allocated to you and the\nremaining amount of committed token will be credited back to your Spot Account.<\/p>\n\n\n\n<p>If you have selected the Lottery model: Winners will each\nreceive 400 APEX, and the remaining amount of the committed token, if any, will\nbe credited back to their Spot Account. Non-winning participants will get the\nfull amount of the committed token back.<\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Thank you! Very detailed answer! I want to wish all participants\ngood luck<\/p>\n\n\n\n<p>Satoshiclubbers, you can join this event as well <\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Thanks for your great answers and clarification<\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p><strong>Jason<\/strong>, thank you for\nyour answers! Ready to proceed?<\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p><em>Q2 from Telegram user\u00a0\u00a0 @Blessingchum<\/em><\/p>\n\n\n\n<p><em>ApeX offers some trading features which are; Coin-Collaterized leverage trading, Rebase mechanism and Protocol Incetivization. Could you give a basic description of each of these features? What sort of incentives program does ApeX offer? Speaking of the \u201cRebase Mechanism\u201d, I haven\u2019t heard about that before; how does this mechanism work? You mentioned that the The \u201crebase\u201d mechanism serves as a hard-peg; what does this hard peg mean and how is the \u201cRebase Mechanism\u201d beneficial to the users? Furthermore, how can users leverage the \u201cRebase Mechanism\u201d?<\/em><\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>OK, very great question.<\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>Coin-collateralized Leverage Trading<\/p>\n\n\n\n<p>Currently, most DEX platforms offer USDC-collateralized\ncontracts. While ApeX will also offer USDC-collateralized contracts, we aim to\nfocus on coin-collateralized contracts that once dominated the crypto market.<\/p>\n\n\n\n<p>Stablecoins are not native assets of the blockchain system.\nWhile the emergence of stablecoins has led to the rapid growth of DeFi and more\napplicable scenarios for the blockchain ecosystem, they still face challenges\nsuch as external audits and regulations, and algorithm-based stablecoins are\nnot mainstream yet. ApeX expects to provide users with coin-collateralized products\nfor leveraged trading using only the BASE assets.<\/p>\n\n\n\n<p>Rebase Mechanism<\/p>\n\n\n\n<p>Funding rate has been widely adopted by perpetual contract\nmarkets as a price pegging mechanism as it has proven effective with active\nmarket makers and arbitrageurs. To ensure price pegging for less active trading\npairs, ApeX proposes a rebasing mechanism.<\/p>\n\n\n\n<p>The \u201crebase\u201d mechanism serves as a hard-peg and is designed\nin a way that the virtual QUOTE asset balance can be adjusted according to\nprice fluctuations. Once triggered, eAMMs will dynamically issue or destroy\ntokens so that the prices of perpetual contracts would closely track the\nunderlying spot DEX markets.<\/p>\n\n\n\n<p>Protocol Incentivization<\/p>\n\n\n\n<p>ApeX offers incentive programs to encourage early adopters\nand spur organic growth of the protocol. Users and participants will be\nincentivized as follows:<\/p>\n\n\n\n<p>Liquidity providers on non-PCV pools: Enjoy liquidity mining\nrewards from swap fees and associated leveraged trading fees (spreads, funding\nfees &amp; liquidation fees).<\/p>\n\n\n\n<p>Liquidity providers on PCV pools: Users will be able to\npurchase the governance token, APEX, at a discount.<\/p>\n\n\n\n<p>Referral incentives: Users will also be incentivized when\nthey refer ApeX to their friends. Under the ApeX referral program.<\/p>\n\n\n\n<p>Staking: APEX token holders and APEX-ETH liquidity providers\nwill be rewarded with APEX tokens through staking based on a formula rewarding\na combination of amount and lock time. Staked APEX tokens will also provide\ngreater value capture and voting power.<\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Great answer. Thanks<\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Jason, when all this features will go live?<\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>This will be launched gradually. We can go on to the next\nquestion.<\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Let&#8217;s go <\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p><em>Q3 from Telegram user @captainprice111<\/em><\/p>\n\n\n\n<p><em>When reviewing the philosophies of the ApeX protocol, I saw you say, \u201cIt is to empower traders worldwide by providing open and transparent financial tools that can help protect and grow their wealth.\u201d So what is the ApeX team doing to increase financial inclusion and make trading crypto derivatives accessible and easy? I saw that there are 3 philosophies that ApeX is working on; Completely Permissionless, Continuing Liquidity and Full Spectrum Asset Support. Can you tell us about how these 3 philosophies work? Do these 3 philosophies work with each other and with ApeX or do they have different mechanisms of action?<\/em><\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>Fully Permissionless: Open networks that\u2019re available to\neveryone to participate in the consensus process, which is used to validate\non-chain transactions. On ApeX, anyone can create any market and trade any\nassets.<\/p>\n\n\n\n<p>Liquidity in Perpetuity: Liquidity is a core part of the\ninfrastructure; users do not have to trust the institution to execute trades,\nall that is required is to trust the code will execute as written, hence worry\nno more about rug pulls.<\/p>\n\n\n\n<p>Full-Spectrum Asset Support: Liquidity providers can provide\nliquidity in any asset, which helps create a market for niche investment\nstrategies.<\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Thanks for your great answers <\/p>\n\n\n\n<p>Do you want to add something or can we proceed with the next\nquestion?<\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>We can go on.<\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p><em>Q4 from Telegram User\u00a0 @ghostofcharmeleon<\/em><\/p>\n\n\n\n<p><em>Hello, ApeX team.<\/em><\/p>\n\n\n\n<p><em>You have quite an interesting tokenomics, which allows you not to put significant pressure on the token in the first year, since the team and investors will unlock it in a year. But in order to understand what pressure they will be able to exert at the time of unlocking, it is necessary to understand how many tokens will be issued at the time of the first unlock. Please tell us did you calculate how many tokens will be in circulation at the time of unlocking? What will further encourage investors and large holders to hold their tokens? Are you developing new user cases?<\/em><\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>Good question.<\/p>\n\n\n\n<p>APEX is the native token of the protocol with a maximum\nsupply of 1,000,000,000, and will serve the following utilities:<\/p>\n\n\n\n<p>Governance: Token holders are entitled to submit and vote on\nprotocol governance proposals.<\/p>\n\n\n\n<p>Protocol Incentivization: Users can earn APEX tokens through\nparticipation rewards and liquidity mining on the ApeX protocol.<\/p>\n\n\n\n<p>Staking<\/p>\n\n\n\n<p>APEX token distribution is as follows:<\/p>\n\n\n\n<p>Team and early investors: 23% of the total token supply will\nbe allocated to the core team and early investors with a 12-month cliff\nstarting from TGE followed by a 2-year linear vesting.<\/p>\n\n\n\n<p>Core team &amp; advisors (15%)<\/p>\n\n\n\n<p>Early investors (8%)<\/p>\n\n\n\n<p>Strategic DAO Allocation: The remaining 77% will be\nallocated to the DAO and community. These include allocations for participation\nrewards, ecosystem building, and liquidity bootstrapping.<\/p>\n\n\n\n<p>100% unlocked at TGE but tokens allocated to the DAO will be\nlocked for 36 months;<\/p>\n\n\n\n<p>Currently, most DEX platforms offer USDC-collateralized\ncontracts. While ApeX will also offer USDC-collateralized contracts, we aim to\nfocus on coin-collateralized contracts that once dominated the crypto market.<\/p>\n\n\n\n<p>Stablecoins are not native assets of the blockchain system.\nWhile the emergence of stablecoins has led to the rapid growth of DeFi and more\napplicable scenarios for the blockchain ecosystem, they still face challenges\nsuch as external audits and regulations, and algorithm-based stablecoins are\nnot mainstream yet. ApeX expects to provide users with coin-collateralized\nproducts for leveraged trading using only the BASE assets.<\/p>\n\n\n\n<p>In addition, liquidity provision usually requires treasury\nallocation in project native token and quote taken from the protocol team, the\ndecentralized autonomous organization (DAO), or the asset issuer, which may\ncause a heavy financial burden to the project.<\/p>\n\n\n\n<p>ApeX aims to resolve this pain point by establishing a\nplatform where the protocol team and DAO can provide liquidity using only the\nproject native token while facilitating trades and other application scenarios.<\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p>perfect answer! thank you!<\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Our live will definitely become easier with your solutions!<\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Let&#8217;s proceed with the next question <\/p>\n\n\n\n<p><em>Q5 from Telegram User @KhaleesiKhalee<\/em><\/p>\n\n\n\n<p><em>Obtaining ApeX Predator NFTs are entry tickets for the ApeX NFT Game and the ApeX Loyalty Program. Please explain more on ApeX Loyalty Program, give us instructions on how to get in to the program? What are the opportunities and benefits that awaits for the members? Is this a one-time fee or must it be renewed after a specific period of time to be a member of the program?<\/em><\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>Yes, the 4,560 ApeX Predators NFTs were successfully minted\non March 11, 2022, bringing early adopters to the protocol and building the\ncommunity together. For more insights, visit:\nhttps:\/\/apexdex.medium.com\/apex-nfts-public-sale-round-completed-e917f7e88814<\/p>\n\n\n\n<p>ApeX Loyalty Program enables NFT holders to get the\neligibility to grab a tiered transaction fee discount. ApeX predator NFT\nholders will enjoy a 8% lifetime transaction fee discount when trading on the\nApeX protocol, while OG NFT holders will enjoy a 50% lifetime transaction fee\ndiscount.The public sale of the ApeX NFT has facilitated the ApeX protocol to\ncommunicate and build its brand value and culture to audiences in the Web 3.0\nspace.<\/p>\n\n\n\n<p>The ApeX NFT gaming phase, known as One Last Ape Standing,\nis an in-game activity where participants who hold the ApeX NFTs are eligible\nto receive the ApeX token from the reward pool within a period of time.<\/p>\n\n\n\n<p>In addition, to take part in the in-game activities of One\nLast Ape Standing, you can purchase Apex NFT on OpenSea at any time. Users have\nthe option to burn their NFT to withdraw from the game anytime.<\/p>\n\n\n\n<p>The entry tickets for the ApeX NFT Game and the ApeX Loyalty\nProgram are the ApeX Predator NFTs. All early holders of Predator NFTs are\nentitled to exclusive benefits \u2014 the longer the holding period, the more\nrewards received. An amount of 0.2TH will be given to ApeX Predators NFT\nholders for each NFT held. When the ApeX NFT Game officially starts, all rebate\nrewards will be issued accordingly.<\/p>\n\n\n\n<p>In short, ApeX NFTs on the ApeX protocol serves the\nfollowing utilities:<\/p>\n\n\n\n<p>1. ApeX NFTs will serve as the only proof within ApeX\u2019s\nLoyalty Program in the future.<\/p>\n\n\n\n<p>2. ApeX NFTs will have the subscription interest of the\nprotocol\u2019s governance token.<\/p>\n\n\n\n<p>3. ApeX NFTs holders will be granted more privileges\nthroughout its marketing campaigns, airdrop activities, and major events at the\nproduct level.<\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Can you give us a link to your OpenSea collection?<\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>Sure.<\/p>\n\n\n\n<p>You can buy NFT on Opensea <a href=\"https:\/\/opensea.io\/collection\/apex-nft-predator\">https:\/\/opensea.io\/collection\/apex-nft-predator<\/a>.<\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Thank you for your answers!<\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p>it&#8217;s really impressive<\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Ready for the 6th and last question from this part?<\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>Yeah<\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p><em>Q6 from Telegram User @Danylko_UA<\/em><\/p>\n\n\n\n<p><em>Hello ApeX Protocol team!<\/em><\/p>\n\n\n\n<p><em>We all know about the importance of security in the DeFi space. Bad elements (scammers) are tirelessly using for ways to exploit most projects and it\u2019s users. I admire the fact that ApeX has prioritized security as I saw that your bug bounty program is currently live. I am interested in participating in this program: Kindly give more details on the program. How can I participate? What are the requirements needed? Can you talk about the bounty reward system? Is the reward dependent on the threat level of the reported bug? Lastly, could you give details as regards to your smart contracts audits? Is it done yet? If yes, how well did you pass?<\/em><\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>Good question. Yes, we consider that security is first thing\nfor a DeFi product, if there are no security to support the project, it will be\ndangerous for users. All smart contracts on the ApeX protocol have been audited\nby professionals to ensure high security. You may click here to view the audit\nreport. The time-weighted average price (TWAP) algorithm has also been employed\nto minimize a large order&#8217;s the impact on the market. Stay tuned for our\nupcoming bug bounty programs.<\/p>\n\n\n\n<p><a href=\"https:\/\/github.com\/ApeX-Protocol\/apex-protocol\/blob\/master\/docs\/audit_report.pdf\">https:\/\/github.com\/ApeX-Protocol\/apex-protocol\/blob\/master\/docs\/audit_report.pdf<\/a><\/p>\n\n\n\n<p>Ongoing Campaigns:<\/p>\n\n\n\n<p>ApeX 10,000 USDT Giveaway Campaign: <a href=\"https:\/\/gleam.io\/CVUTJ\/apex-10000-usdt-giveaway\">https:\/\/gleam.io\/CVUTJ\/apex-10000-usdt-giveaway<\/a><\/p>\n\n\n\n<p>&#x1fa82;ApeX Airdrop events- R1 (4.11 WARM-UP, 4.12 officially starts\uff09: <a href=\"https:\/\/apexdex.medium.com\/apex-protocol-airdrop-bonanza-round-1-1630d7895131\">https:\/\/apexdex.medium.com\/apex-protocol-airdrop-bonanza-round-1-1630d7895131<\/a><\/p>\n\n\n\n<p>Welcome all join the airdrop Campaigns<\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Satoshiclubbers, use your chance <\/p>\n\n\n\n<p><strong>Jason<\/strong>! Now we came\nclose to the live part of our AMA <\/p>\n\n\n\n<p>Ready for it?<\/p>\n\n\n\n<p><strong>Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Thanks for this amazing first part of AMA. Can you please\nshare most important links for your social media?<\/p>\n\n\n\n<p><strong>Jason<\/strong><\/p>\n\n\n\n<p>Yes.<\/p>\n\n\n\n<p>Follow ApeX Protocol on social media to stay up to date with\nall the latest developments.<\/p>\n\n\n\n<p>Website: <a href=\"https:\/\/app.apex.exchange\/\">https:\/\/app.apex.exchange\/<\/a><\/p>\n\n\n\n<p>Twitter: <a href=\"https:\/\/twitter.com\/OfficialApeXdex\">https:\/\/twitter.com\/OfficialApeXdex<\/a><\/p>\n\n\n\n<p>Medium: <a href=\"https:\/\/apexdex.medium.com\/\">https:\/\/apexdex.medium.com\/<\/a><\/p>\n\n\n\n<p>Discord: <a href=\"https:\/\/discord.gg\/366Puqavwx\">https:\/\/discord.gg\/366Puqavwx<\/a><\/p>\n\n\n\n<p>Official Community Telegram: <a href=\"https:\/\/t.me\/ApeXdex\">https:\/\/t.me\/ApeXdex<\/a><\/p>\n\n\n\n<p>Official Announcement Telegram: <a href=\"https:\/\/t.me\/ApeXdexANN\">https:\/\/t.me\/ApeXdexANN<\/a><\/p>\n\n\n\n<p><strong>Mary | Satoshi Club<\/strong><\/p>\n\n\n\n<p>Let&#8217;s go <\/p>\n\n\n\n<h2><strong>Part 2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n<p><em>Q1 from Telegram user <\/em> <em><strong>@Camila571<\/strong><\/em> <\/p>\n\n\n\n<p><em>Community loves airdrops and campaigns. Do ApeX have any airdrops or giveaways running for the community?<\/em><\/p>\n\n\n\n<p> <strong>Jason<\/strong> <\/p>\n\n\n\n<p>To celebrate the launch of our new product features and show our warm welcome to all new traders on ApeX Protocol, we are launching the first round of ApeX\u2019s Airdrop Campaign now.<br> This campaign will start on Apr 12, 2022 9:00 pm SGT, and last till Apr 30, 2022 11:59 pm SGT. We will be giving away more than 200,000 $APEX Tokens as a total prize pool to our community within this round.<br> The Total prize pool will be divided into 5 categories (A-E) with corresponding thresholds.<\/p>\n\n\n\n<p>Read the details here <br><a href=\"https:\/\/apexdex.medium.com\/apex-protocol-airdrop-bonanza-round-1-1630d7895131\">https:\/\/apexdex.medium.com\/apex-protocol-airdrop-bonanza-round-1-1630d7895131<\/a><\/p>\n\n\n\n<p> <em>Q2 from Telegram user<\/em> <strong><em>@Shiva_shivi <\/em><\/strong> <\/p>\n\n\n\n<p><em>What is the main Aim of &#8220;Protocol Controlled Value&#8221;?<br> Can You Please explain, why is it needed?<\/em><\/p>\n\n\n\n<p> <strong>Jason<\/strong> <\/p>\n\n\n\n<p>Traditionally, DeFi protocols employ a user-owned Total Value Locked (TVL) model, in which liquidity providers deposit an equal amount of two tokens to form a market. To incentivize liquidity, DeFi protocols typically offer token distribution rewards with lucrative yields. While this can result in massive liquidity, it also brings the unintended consequence of &#8216;mercenary capital&#8217;. Liquidity incentivization requires DeFi protocols to offer lucrative rewards to maintain it. Such strategies may be viable in the short term, however, they are not sustainable in the long term as yields will normalize over time.<\/p>\n\n\n\n<p> <em>Q3 from Telegram user <strong>@hana4544   <\/strong><\/em><\/p>\n\n\n\n<p><em>You sold 4,560 NFTS in March. What are the benefits for ApeX Predators NFT owners? When and how can we get a new sale?<\/em><\/p>\n\n\n\n<p> <strong>Jason<\/strong> <\/p>\n\n\n\n<p><br> 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: <a href=\"https:\/\/apexdex.medium.com\/apex-nfts-public-sale-round-completed-e917f7e88814\">https:\/\/apexdex.medium.com\/apex-nfts-public-sale-round-completed-e917f7e88814<\/a><\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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 \u2014 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.<br>A Protocol Controlled Value (PCV) model aims to solve these problems in a peculiar way. PCV was inspired by the Total Value Locked (TVL) model, whereby all assets locked in smart contracts are ultimately owned by the protocol and not redeemable by users. This approach guarantees liquidity of each perpetual contract market and users can rest easy knowing that no liquidity provider can pull out the protocol-owned liquidity. ApeX uses the PCV model to retain liquidity in perpetuity to solve the \u2018mercenary capital\u2019 issue. Additionally, ApeX also supports user-owned TVL liquidity for users who prefer the traditional DeFi TVL model.<\/p>\n\n\n\n<p> <em>Q4 from Telegram user <\/em> <strong>@Pokerlight  <\/strong><\/p>\n\n\n\n<p><em>I noticed that your ecosystem charges a 0.1 percent cost on each transaction; could you explain why this tax is charged? What is the purpose of the money that has been collected?<\/em><\/p>\n\n\n\n<p> <strong>Jason<\/strong> <\/p>\n\n\n\n<p>All trades occurring on the ApeX protocol will incur a 0.1% transaction fee. Of which, transaction fees will be distributed as such:<br>\n10% will be allocated back to the eAMM in its respective BASE asset; <br>\n30% will be allocated as $APEX staking reward; <br>\nThe remaining 60% will be deposited in the DAO treasury.<br>\nLiquidated trades on the ApeX protocol will incur a Liquidation Fee which is calculated from the remaining value of the liquidated position. Liquidation fees will be distributed as follows:<br>\n95% will be allocated back to the eAMM in its respective BASE asset; <br>\nThe remaining 5% be rewarded to protocol liquidator.<\/p>\n\n\n\n<p> <em>Q5 from Telegram user <\/em> <strong><em>@YRUSelling  <\/em><\/strong><\/p>\n\n\n\n<p><em>What is Elastic Automated Market Maker? What are the features of it?<\/em><\/p>\n\n\n\n<p> <strong>Jason<\/strong> <\/p>\n\n\n\n<p>The Automated Market Maker (AMM) plays the role of a central counterparty on DeFi protocols, allowing assets to be traded in a permissionless and instant manner by using liquidity pools instead of a traditional order-book model.<\/p>\n\n\n\n<p> <em>Q6 from Telegram user <strong>@\u2026\u2026\u2026..IL&#x2764;&#xfe0f;&#x1f940;ov\u2026\u2026\u2026e@  <\/strong><\/em><\/p>\n\n\n\n<p><em>Do you allow suggestions and feedback from the community? Are we allowed in decision making, do you put community into consideration ?<\/em><\/p>\n\n\n\n<p> <strong>Jason<\/strong> <\/p>\n\n\n\n<p>Yes, community is important for project, if there are no good community, it means there are little users, so we are looking forward to listening from community.<\/p>\n\n\n\n<p> <em>Q7 from Telegram user <strong>@kalam4i   <\/strong><\/em><\/p>\n\n\n\n<p><em>Staking  programme is very important for any project,?  Can i stake your token,?   Do you have any plan of starting staking programme??<\/em><\/p>\n\n\n\n<p> <strong>Jason<\/strong> <\/p>\n\n\n\n<p>APEX token holders and APEX-ETH liquidity providers will be rewarded with APEX tokens through staking based on a formula rewarding a combination of amount and lock time. Staked APEX tokens will also provide greater value capture and voting power.<\/p>\n\n\n\n<p> <em>Q8 from Telegram user <strong>@Prithvi200  <\/strong><\/em> <\/p>\n\n\n\n<p><em>Have You Performed the KYC and the AUDITS because <br> It helps to Increse TRUST Between the FOUNDERS and  INVESTOR , If Yes Please tell me  ?<\/em><\/p>\n\n\n\n<p> <strong>Jason<\/strong> <\/p>\n\n\n\n<p>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&#8217;s the impact on the market. Stay tuned for our upcoming bug bounty programs<\/p>\n\n\n\n<p> <em>Q9 from Telegram user <strong>@Camila571   <\/strong><\/em><\/p>\n\n\n\n<p><em>Community loves airdrops and campaigns. Do ApeX have any airdrops or giveaways running for the community?<\/em><\/p>\n\n\n\n<p> <strong>Jason<\/strong> <\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Announcing the launch of ApeX Protocol&#39;s \u2014 Airdrop Bonanza (Round 1)! <br><br>We&#39;re excited to share this campaign, with a prize pool of 200,000 <a href=\"https:\/\/twitter.com\/search?q=%24APEX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$APEX<\/a>! <br><br>Want to find out more? Read the details here \ud83d\udc47<a href=\"https:\/\/t.co\/vj5AVy9HvD\">https:\/\/t.co\/vj5AVy9HvD<\/a><br><br>\u23f2\ufe0f: 12\/4 9PM SGT &#8211; 30\/4 11:59PM SGT<a href=\"https:\/\/twitter.com\/hashtag\/airdrop?src=hash&amp;ref_src=twsrc%5Etfw\">#airdrop<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/defi?src=hash&amp;ref_src=twsrc%5Etfw\">#defi<\/a> <a href=\"https:\/\/t.co\/x0ipAaaB5m\">https:\/\/t.co\/x0ipAaaB5m<\/a> <a href=\"https:\/\/t.co\/NJdlWCGnpL\">pic.twitter.com\/NJdlWCGnpL<\/a><\/p>&mdash; ApeX Protocol (@OfficialApeXdex) <a href=\"https:\/\/twitter.com\/OfficialApeXdex\/status\/1513865390421512196?ref_src=twsrc%5Etfw\">April 12, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2><strong>Part 3 \u2013 Quiz Results<\/strong><\/h2>\n\n\n\n<p>As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.<\/p>\n\n\n\n<p><strong>For more information and future AMAs, join our Social Media channels:<\/strong><\/p>\n\n\n\n<p>English Telegram group:&nbsp;<a href=\"https:\/\/t.me\/Satoshi_club\/\">https:\/\/t.me\/Satoshi_club\/<\/a><br>Russian Telegram group:&nbsp;<a href=\"https:\/\/t.me\/satoshi_club_ru\/\">https:\/\/t.me\/satoshi_club_ru\/<\/a><br>Spanish Telegram group:&nbsp;<a href=\"https:\/\/t.me\/satoshi_club_spanish\/\">https:\/\/t.me\/satoshi_club_spanish\/<\/a><br>Telegram Channel:&nbsp;<a href=\"https:\/\/t.me\/satoshi_club_channel\/\">https:\/\/t.me\/satoshi_club_channel\/<\/a><br>Twitter:&nbsp;<a href=\"https:\/\/twitter.com\/realsatoshiclub\/\">https:\/\/twitter.com\/realsatoshiclub\/<\/a><br>Website:&nbsp;<a href=\"https:\/\/esatoshi.club\/\">https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n<p><strong>Our partners:<br><\/strong><\/p>\n\n\n\n<p>Website: <a href=\"https:\/\/app.apex.exchange\/\">https:\/\/app.apex.exchange\/<\/a><\/p>\n\n\n\n<p>Twitter: <a href=\"https:\/\/twitter.com\/OfficialApeXdex\">https:\/\/twitter.com\/OfficialApeXdex<\/a><\/p>\n\n\n\n<p>Medium: <a href=\"https:\/\/apexdex.medium.com\/\">https:\/\/apexdex.medium.com\/<\/a><\/p>\n\n\n\n<p>Discord: <a href=\"https:\/\/discord.gg\/366Puqavwx\">https:\/\/discord.gg\/366Puqavwx<\/a><\/p>\n\n\n\n<p>Official Community Telegram: <a href=\"https:\/\/t.me\/ApeXdex\">https:\/\/t.me\/ApeXdex<\/a><\/p>\n\n\n\n<p><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from ApeX Protocol and our guest was . The AMA took place on the 23rd of April. The AMA session was divided into 3 parts with a total crypto reward pool [&hellip;]<\/p>\n","protected":false},"author":179,"featured_media":19195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/19220"}],"collection":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/users\/179"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=19220"}],"version-history":[{"count":1,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/19220\/revisions"}],"predecessor-version":[{"id":19221,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/19220\/revisions\/19221"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media\/19195"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=19220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=19220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=19220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}