DUBAI, UNITED ARAB EMIRATES / ACCESSWIRE / April 18, 2022 / ApeX protocol, a decentralized, non-custodial, permissionless, censorship-resistant perpetual derivatives protocol incubated by Davion Labs, will be the first project on Bybit's new Launchpad 2.0. Bybit Launchpad 2.0 is a freshly revamped platform that features a new lottery model for new projects where users can try their luck to win allocations of new tokens with USDT. It also allows users to buy through the Launchpad directly the best performing tokens that were previously listed.

ApeX protocol enables the introduction of perpetual swap markets for any token pairs. It allows users to relegate crypto derivatives on the Ethereum layer2 blockchain with no intermediaries involved, while maintaining total control over their private keys. It has raised significant capital in a seed funding round led by Dragonfly Capital Partners. Alongside Dragonfly Capital Partners, other prominent investors such as Jump Trading, Tiger Global, Mirana Ventures, Kronos, M77 Ventures, and CyberX have also participated and contributed to the funding round.

$APEX, the native token of the protocol with a maximum supply of 1,000,000,000, powers the ecosystem with multiple utilities including governance, protocol incentivization, and staking. $APEX was first known to the market through the presentation of ApeX's original NFT collection on its public sale in early March this year. ApeX NFT holders can enjoy the 8% life-time transaction fee discount and the allocation of $APEX. The floor price of ApeX NFTs is 0.87 ETH at the time of writing as compared to the mint price of 0.45 ETH, and has been on the rise (for more insights, please visit :https://opensea.io/collection/apex-nft-predator)

Bybit users can subscribe to $APEX with either BIT (the native token of BitDAO - one of the world's largest decentralized autonomous organizations) or USDT Lottery. A minimum commitment amount of 50 BIT or 100 USDT is required for 1 lottery ticket, where each participant will be granted an equal, random chance of winning a token allocation.

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About Bybit

Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. The company provides innovative online spot and derivatives trading services, mining and staking products, an NFT marketplace as well as API support, to retail and institutional clients around the world, and strives to be the most reliable exchange for the emerging digital asset class. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.

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SOURCE: Bybit