ApolloX, the biggest decentralized derivatives exchange on BNB Chain, is launching new product ALP and new trading mode Lite Mode for high-yield staking and zero-slippage trading.
ALP is the platform’s liquidity provider token representing a basket of assets — BUSD, USDT and BNB. ApolloX Lite Mode is a new trading interface hosting ALP-PERP contracts. The ALP liquidity pool supplies liquidity for ALP-PERP markets and is the counterparty for all BUSD contracts trading in Lite Mode.
The launch of ALP and Lite Mode is expected to boost on-chain trading volume and total value locked on ApolloX and BNB Chain, benefiting the ecosystem and users.
High-Yield Staking for Maximum Gains
Users who stake ALP participate in ALP-PERP market making and can earn high APY rewards in ApolloX’s native token APX. Staking rewards are derived from adjustments in APX allocation to ApolloX’s Trading Rewards Program. At launch, ALP will distribute an estimated 100,000 APX rewards every day.
Users can buy ALP starting from US$1. ALP price is dependent on the non-stable assets in the pool, and trading profit and loss (PnL) whereby PnL from ALP-PERP market making will be credited to ALP net asset value (NAV).
More Predictable, More Profits with Zero Slippage
While the original ApolloX Classic Mode utilizes an order book model, traders in Lite Mode directly trade against the ALP liquidity pool. Going long means that the liquidity pool automatically opens a short position, and vice versa.
ALP-PERP perpetual contracts have PnL settled in the BUSD stablecoin. At launch, ApolloX Lite Mode offers zero-slippage trading with up to 25x leverage for BTCBUSD, ETHBUSD and BNBBUSD contracts. Spreads are set at 0, hence trades will always execute at the mark price for the best value conversion.
ALP will be launched in phases. The ALP minting page will go live first for USDT and BUSD, then BNB, followed by ALP-PERP contracts in Lite Mode. In subsequent phases, more assets and contracts will be added.
ApolloX is the biggest decentralized crypto derivatives exchange on BNB Chain shaping Web3 trading. The platform offers:
- ApolloX Classic, a unique matching and settlement model for fast and intuitive trading
- ApolloX Lite, a new liquidity model offering low-slippage ALP-PERP trading
- ALP, the platform’s high-yield staking LP token
For more, visit: www.apollox.finance.