Dear ApolloX users:
ApolloX launched seven months ago and the platform has since achieved a remarkable ranking and transaction volume, placing itself at the forefront of the market. At the same time, it has established an in-depth cooperation with leading DEX PancakeSwap.
In the near future, ApolloX will actively cooperate with DeFi projects and continuously improve on the degree of decentralization. We aim to provide users with a better platform experience by exploring user-centric metrics that will help fulfill our vision of web 3.0.
With this goal and vision in mind, ApolloX will leverage market trends, execute its 2.0 plan, as well as launch the APX token burn plan and ApolloX DAO model.
APX Token Burn Details
ApolloX will proceed to burn 5,755,000,000 APXs. The amount before and after the burn is as follows:
|
Token distribution |
Before |
After |
|
ApolloX Treasury |
4,455,000,000 APX |
1,100,000,000 APX |
|
Marketing Expenses |
500,000,000 APX |
400,000,000 APX |
|
Trading Rewards |
4,300,000,000 APX |
2,000,000,000 APX |
|
Total Amount |
9,255,000,000 APX |
3,500,000,000 APX |
With this burn plan, the total amount of APX trading rewards in the Trading Rewards Program will be adjusted to 9,000,000 APX per round, starting from the 11th Epoch of Trading Rewards Program.
ApolloX DAO Self-Governance Model
What is DAO and why would ApolloX DAO utilize such a structure？
DAO (Decentralized Autonomous Organization) is a blockchain protocol governed by a set of rules, and designed to be automated and decentralized. ApolloX DAO will be composed of members who hold or lock APX tokens and who will be responsible for autonomous distribution processes (such as the Trading Rewards Program). This will ensure all participants are able to contribute and engage in a transparent and fair manner.
Many projects including ApolloX are moving toward a DAO structure. We believe that such a structure will help to eliminate centralized leadership and current limitations placed on blockchain technology.
What can users expect from ApolloX DAO？
ApolloX DAO will utilize Gnosis Safe, Gnosis Snapshot and industry standards of discourse to process off-chain voting and on-chain multi-signature participation to implement decentralized governance. At that time, we will be recruiting and designating some members of the community to be a key influence in ApolloX DAO. Community members who lock APX will also earn trading fee bonuses and can enjoy other benefits.
What will be the scope in Phase 1 of ApolloX DAO Governance?
- ApolloX platform development suggestions and new function iterations; For example: adjustments to protocol parameters, launch of new trading pairs.
- Marketing/platform activities, promotions and rewards; For example: formulating and adjusting trading reward rules.
- Updates on ApolloX DAO protocol such as governance and treasury management
The scope of the governance protocol may change over time as more proposals are discussed and voted on within the APX DAO Community.
The DAO governance model launched by ApolloX aims to create a transparent and autonomous structure for the development of the platform. The creation of a decentralized organization will provide more flexibility when adapting to market changes and also further adoption of decentralized crypto assets and blockchain technology on a global level. Through the DAO’s trustless decision-making framework, participating users can have more say in the platform’s development. Such inputs help to improve the overall structure and management of the DAO and aid the majority to align toward a common shared interest.
We believe the future of DAO will empower the next generation of protocols to bring blockchain innovation to greater heights. This will certainly bring forth new markets and opportunities for the entire blockchain industry.
We encourage all users to participate in defining and shaping the future with ApolloX.
There will be more announcements on ApolloX 2.0. Please stay tuned!
Thank you for your support!