Bybit’s Launchpad 2.0, ApeX protocol, first project.
The decentralized, non-custodial, permissionless, censorship-resistant perpetual derivatives project.
From Davion Labs’ ApeX protocol state that it will be the first project on Bybit’s newly floats Launchpad 2.0.
Launchpad 2.0 is a complete redesign of Bybits’s flagship product, the Launchpad trading platform.
The new platform is rebuilt from the ground up to be faster; more stable, and more user-friendly than ever before.
Users can now purchase best-performing tokens directly through the launchpad.
And participate in a lottery system that gives them access to USDT-denominated allocations of new tokens.
Bybits provides cutting-edge online spot and derivative trading services, mining and staking solutions; an NFT marketplace, as well as API access to both retail and institutional customers.
The ApeX protocol is a new order matching engine that Bybits has developed specifically for cryptocurrency trading.
The protocol is designed to provide traders with the best possible prices and execution quality.
The background movers
Oracle Red Bull Racing is a Formula One racing team that the firm has link with.
It’s has links with esports teams NAVI, Astralis, Alliance, Virtus. pro, and Oracle Red Bull Racing Esports; as well as association football (soccer) clubs Borussia Dortmund and Avispa Fukuoka.
ApeX is a blockchain-based protocol that allows users to exchange markets for any token pair; and trade crypto derivatives on the Ethereum 2 network without having to worry about private keys or dealing with any middlemen.
The ApeX protocol, which operates by its own cryptocurrency $APEX; provides a variety of services such as governance, protocol incentivization, and staking.
Dragonfly Capital Partners was the seed investor for the project, which receives the support of other big names like; Jump Trading, Tiger Global, Mirana Ventures, Kronos, M77 Ventures, and CyberX.
Users may now subscribe to the $APEX, a cryptocurrency with a finite supply of 1 billion tokens and either BIT or USDT, on Bybit’s Launchpad 2.0.
BitDAO is the world’s largest decentralized autonomous organization, and its native coin is known as BIT.
To participate in the lottery on the launchpad, you must invest a minimum of 50 BIT or 100 USDT.
The user will be able to purchase only one lottery ticket for the amount required.
All participants will have an equal and random opportunity of winning the token allocation.
The ApeX token debuts in April, shortly after ApeX’s initial NFT collection as public offer at a formal sale.
The 8 percent lifetime transaction fee discount and $APEX allocation; is given to project NFT holders as a result of the initiative.
The ApeX NFTs are currently available for purchase for 0.87 ETH, up from 0.45 ETH before the launch, which indicates a gain of more than 40%.
Bybits is a cryptocurrency trading platform debuts in March 2019.
The company operates from Singapore and has offices in the United Arab Emirates, China, and South Korea.
Bybits has a team of 30 people and receives the support of investors such as; Fenbushi Capital, Divergence Digital Currency Fund.
Others are, Hashkey Capital, Jehan Chu, Kenetic Capital, Arrington XRP Capital, 8 Decimal Capital, Spartan Group, and others.
The Bybits platform allows for spot and margin trading with up to 100x leverage.
It also offers derivative contracts including perpetual contracts and futures contracts.
Bybits has grown rapidly since its launch and now has over 200,000 users from over 100 countries.
All these efforts by the firm are to retain existing investors and attract potential investors.