GM!
Being a prominent derivatives DEX on the @BNBCHAIN, @ApolloX_Finance provides a multitude of unique features that set it apart from other derivatives DEXs.
Let's delve deeper!
Disclaimer:
Please note that this thread is intended for informational purposes only and should not be considered as financial advice.
Disclosure:
I have collaborated with @ApolloX_Finance for this post and have a personal financial investment in the platform.
Preparatory Reading:
For a more comprehensive understanding of the subject matter being discussed, we suggest acquainting yourself with the following topics through pre-reading
Table of Contents
🟣 What is @ApolloX_Finance?
🟣 Derivatives DEX in @BNBCHAIN
🟣 v1 - Orderbook
🟣 v2 - On-Chain
🟣 ApolloX vs Other DEXs
🟣 $ALP Pool
🟣 $APX Token and ApolloX DAO
🟣 The DEX Engine
@ApolloX_Finance introduces an innovative decentralized trading solution featuring:
• ApolloX DEX, a crypto derivatives exchange, available as OrderBook (v1) or On-Chain (v2)
• ApolloX DEX Engine, a specialized broker solution for derivatives trading
Within the @BNBCHAIN ecosystem, @ApolloX_Finance has positioned itself as the foremost derivatives platform with a TVL surpassing $45m, as visualized here.
Access the TVL data for @BNBCHAIN derivatives in @DefiLlama link below:
defillama.com/protocols/derivatives/BSC
Let's talk about @ApolloX_Finance v1.
ApolloX v1 integrates a hybrid model that uniquely combines off-chain transaction matching with on-chain fund settlement, ensuring fast processing, security, whilst ensuring transparency for user funds.
@ApolloX_Finance V2 utilizes a complete on-chain liquidity model, enabling trades with greater transparency and minimal slippage.
V2 traders do not borrow from the pool, and simply go long/ short with their collateral $USDT, $USDC, $ETH) and $ALP pool act as counterparty.
⚠️This model distinguishes itself from other LP tokens that serve as counterparties, where traders borrow assets from the LP token for their trades.
In contrast, the $ALP pool enables counterparty trading by allowing traders to open opposing positions, as illustrated above.
In this diagram below you can compare to see how @ApolloX_Finance stacks up against other derivatives DEX products.
Minting $ALP tokens offers benefits from the increased NAV of ALP through:
• Buy/ sell fees of $ALP
• Pool's profit from v2 PnL
• Platform income (trading, funding, and liquidation fees)
Furthermore, $ALP can be staked to earn $APX, @ApolloX_Finance governance token.
Explore the on-chain data and v2 metrics for $ALP token here:
dune.com/apollox/alp-v2-metrics
$APX token governs @ApolloX_Finance.
Users can lock $APX to obtain veNFT, participating in protocol decisions. veNFT enables:
• Voting on DAO proposals
• Boosted trading rewards (v2 trading)
• Earning $APX rewards from DAO staking pool
• Other upcoming utilities
@ApolloX_Finance's DEX Engine enables effortless creation of derivative DEX platforms.
It provides extensive customization for front-end and shared resources with ApolloX, such as marketing and liquidity.
Some prominent partners including: @PancakeSwap and @Biswap_Dex
References (Link in ALT)
If you like exploring on-chain data and metrics for derivatives DEXs like @ApolloX_Finance, check out the impressive Dune dashboard created by @JamesCliffyz, also known as Shogun, here:
dune.com/shogun/perpetual-dexs-overview
Tagging #DeFi friends:
@blocmatesdotcom
@rektdiomedes
@andrewtalksdefi
@ChadCaff
@0xTindorr
@JiraiyaReal
@ThorHartvigsen
@Louround_
@0xCrypto_doctor
@jake_pahor
@CryptoShiro_
@SmallCapScience
@Flowslikeosmo
@stacy_muur
@Slappjakke
@crypto_linn
@Cryptotrissy
@Crypt0_Andrew
You can read the unrolled version of this thread here: typefully.com/eli5_defi/P11AVTI