ApeX Protocol unveils strategic initiatives to boost APEX Token value and market reach

ApeX Protocol, a permissionless and non-custodial decentralized exchange (DEX), has unveiled some strategic initiatives. The protocol seeks to boost its market position in the decentralized finance (DeFi) space with these initiatives.

Among the plans announced by the ApeX Protocol plans include expanding the project’s market reach and supporting the value of its native token known as $APEX. The initiatives align with the protocol’s plan to achieve its objectives while achieving sustainable growth.

$APEX Token Growth

The APEX token plays a key role in supporting the growth of the ApeX Protocol. Data from CoinGecko shows that over the past month, the token’s value has increased by more than 600%, making it among the top performers in the market.

$APEX hit an all-time high of $2.84 on January 17. It was trading at $2.32 on January 30 at 00:58 EST.

The rise in the value of the APEX token comes amid increased demand and confidence in the protocol. The team behind this project is now working towards positive changes that will improve the tokenomics model of the token to support community and project growth.

APEX is poised for more growth as the development team works to reduce the total token supply by 50%. The total supply will drop from 1 billion APEX tokens to 500 million APEX tokens.

To reduce this supply, the project is engaging in a burn process. It conducted its first burn event on January 18. The process reduced the supply to 850 million APEX tokens. The project plans to conduct more token burns during the first month of every quarter, which will make the APEX token scarce and increase its value.

Apex Protocol Is Collaborating With Leading DEXs

The ApeX protocol is also working with leading decentralized exchanges (DEXs) to launch APEX-ETH liquidity pools. The protocol also plans to give liquidity providers a chance to participate in the ApeX protocol revenue-sharing model and generate yields.

Some DEXs that the protocol is hinting at working with include Camelot on Arbitrum and AGNI on Mantle. ApeX plans to support customized incentive programs and revenue-sharing models to communities on every chain.

By expanding its presence across multiple blockchains, ApeX will have a broader reach while contributing to the growth and expansion of the entire ecosystem. Liquidity providers will also have a chance to enjoy more rewards in the native tokens of the respective DEXs and the ApeX protocol.

Apex to Launch Lock-In Feature to Its Staking Program

The ApeX staking program will also change to reward loyal contributors. The staking program is currently supporting $APEX and $esAPEX pools, giving users a chance to generate passive income via revenue sharing.

The staking program currently lacks a lock-in feature, giving users a chance to stake and unstake tokens at will. The staking program distributes USDC rewards each week through a dynamic reward calculation technique. The rewards depend on the amount staked, duration, and trading activities on ApeX Pro.

The protocol will launch a lock-in feature to the program. With this feature, users will lock tokens in pools for a designated period. This feature will improve earnings while giving users a chance to share in the revenues while contributing to the growth of the ApeX protocol. 

The Head of Business Development at ApeX Protocol, Tekla I, believes that these initiatives will be a major step for the project.

“We are dedicated to creating value for our community, and these enhancements reflect our commitment to delivering a robust and sustainable DeFi ecosystem,” Tekla said.

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