Table of Contents
What is the APEX Token?
APEX is a cryptocurrency that serves as the native token of the Apex protocol. It has a maximum and total supply of 1 billion tokens, and its current circulating supply is nearly 50 million and can be used for various purposes within the protocol.
What is the use case of APEX?
Token holders are able to participate in governance by submitting and voting on proposals. Users can also earn APEX through participation rewards and liquidity mining on the protocol. Additionally, users can stake APEX in order to receive staking rewards in the form of more APEX.
What APEX token types are there?
There are two other types of APEX that can be earned through staking: esAPEX and veAPEX.
What is esAPEX?
If you stake APEX, you will receive a staking reward in the form of esAPEX. esAPEX can be converted back into APEX after a vesting period of six months, during which time you cannot access or sell these tokens. If you choose to keep staking your esAPEX, you will continue to earn more esAPEX as a reward.
What is veAPEX?
Voted Escrow APEX or veAPEX serves veAPEX serves as a proof of staking ‘certificate’ and allows holders to earn fee rewards and have voting rights for governance.
Where to buy the APEX Token?
APEX can be bought on ByBit and decentralized exchange, Uniswap.
How to buy the APEX Token on ByBit?
To purchase APEX tokens, you can use centralized exchange Bybit. On Bybit, the tokens are available on the spot market against USDT or USDC. Here are the steps to follow:
- Sign up for an account on Bybit.
- Deposit (or trade) USDT or USDC into your account.
- Search for the APEX/USDT or APEX/USDC trading pair on the spot market.
- Place a buy order for the desired amount of APEX tokens.
- Confirm the order and wait for it to be filled.
How to buy the APEX Token on Uniswap?
To buy APEX tokens from on Uniswap, you will need to follow these steps:
- Make sure you have a digital wallet that is compatible with the Ethereum blockchain and has some Ethereum (ETH) in it. This is the cryptocurrency that you will use to purchase APEX or will definitely need for the transaction fee.
- Go to the Uniswap website and click on the “Connect Wallet” button in the top right corner. Follow the prompts to connect your wallet to the platform.
- Once your wallet is connected, search for “APEX (0x52a8845df664d76c69d2eea607cd793565af42b8)” in the search bar at the top of the page. This will bring up the APEX/ETH trading pair.
- Click on the trading pair to go to the APEX/ETH exchange page.
- Enter the amount of APEX tokens you want to buy in the “Buy” field on the right side of the page. The corresponding amount that you will need to pay will be displayed.
- Review the details of your purchase, including the exchange rate, the total cost in ETH. If everything looks correct, click the “Swap” button to initiate the trade.
- Confirm the transaction in your wallet to complete the purchase.
- Once the transaction is complete, you should see the APEX tokens in your wallet.
If you are considering buying APEX on Uniswap and there is a lack of liquidity for the APEX/ETH trading pair, you may want to consider buying it via ByBit or wait until the liquidity on Uniswap improves.
What was the APEX Token Allocation?
The distribution of APEX tokens is as follows:
- 15% of the tokens will go to the team, with a cliff period of 12 months (March 2023), meaning that the team will not be able to access any of these tokens for the first 12 months. After this period, the tokens will be released over a vesting period of 24 months, meaning that the team will be able to access them gradually over a 2-year period.
- 8% of the tokens will go to early investors, with the same cliff and vesting period as the team’s tokens.
- The remaining 77% of the tokens will go to the Strategic DAO (Decentralized Autonomous Organization). These tokens will not have a cliff period and will be available to the DAO immediately, but they will be locked for 36 months. This means that the DAO will not be able to sell or transfer these tokens for 3 years.
