Dear ApolloX users,
ApolloX has officially launched V2 futures trading on 13 April 2023. Trading on V2 is executed completely on-chain. Users can trade easily without going through the deposit and registration processes.
During the initial phase, ApolloX will support five perpetual pairs: BTCUSD, ETHUSD, BNBUSD, EURUSD and GBPUSD. Users can use USDT as margin and the maximum leverage for cryptocurrency trading pairs and forex trading pairs are 50x and 100x, respectively.
Transition plan for ALP-PERP contracts:
The ALP pool will start to support V2 futures trading at the time of transition. Users who buy ALP tokens are deemed to be participating in V2 market making. The fluctuation in ALP price will be correlated to the value of the liquidity pool and its trading PnL. 50% of V2 trading fee income will be injected into the ALP pool. Furthermore, users who stake ALP can earn APX rewards.
There will be a 20-day transition period (12 April 2023 - 3 May 2023) for existing ALP perpetual contracts (BUSD trading pairs). During this period, transitioning accounts will provide liquidity for existing BUSD contracts and resulting PnL will not affect the price of ALP. ApolloX will also gradually reduce the position size of the BUSD trading pairs. After the transition period ends (3 May 2023), ALP-PERP will be adjusted to reduce-only mode and users will not be able to open any new positions.
We welcome all users to try out a new trading experience!
For more details, please check out the following:
Unlike the cryptocurrency market, the foreign exchange market is not open for trading 24/7. Traders may refer to the following timings:
|Day||Open/Close for trading|
Closed from 22:00 UTC onwards (DST)
Closed from 23:00 UTC onwards (Non-DST)
Open from 22:00 UTC onwards (DST)
Open from 23:00 UTC onwards (Non-DST)
In addition, the foreign exchange market will also be closed during the following public holidays:
25th December - 27th December
1st January - 2nd January