Update: Please note, as of Jan 18, 2024, the total supply of $APEX has been reduced from 1B to 850M tokens (check the transaction here). The decision about the token supply reduction was made earlier this year as a strategic move to enhance scarcity and boost the value proposition of $APEX, while offering benefits to the community of contributors and platform users. According to the plan, consecutive token burns are scheduled for the first month of each quarter. Read more here.The $APEX token powers the ApeX Protocol, a decentralized network that is leading the charge on shaping a free and open ecosystem for all users to grow their wealth in a safe and trusted environment, where they can participate within an interconnected metacommunity.
The $APEX token is central to the ApeX Protocol, mainly facilitating revenue distribution via the ApeX Staking Program, where stakers of $APEX/$esAPEX tokens earn a share of trading fees. Furthermore, the token is poised to be a key player in the protocol's governance, influencing the roadmap and settings, highlighting a dedication to decentralization and the active participation of the community in guiding the protocol's future trajectory.
$APEX Tokenomics Summary
Total supply of 850,000,000 $APEX tokens
23% allocated to the core team and early investors with a 24-month cliff and a vesting period of 24 months
77% for participation rewards, ecosystem building and liquidity bootstrapping where it is 100% unlocked for TGE, but tokens allocated to the DAO will be locked for 36 months. $APEX utilized for trading or staking rewards will see 10% of the allocation unlocked at TGE with linear vesting over 48 months
25,000,000 $APEX have also been allocated to mint $BANA, ApeX Pro's exclusive trading reward token distributed via its flagship program Trade-to-Earn, and locked over a minimum period of 12 months
The vesting period lasts for up to a total of four years, which can incentivize long-term and continued involvement of all parties
The $APEX token supply distribution is as follows:
The liquidity incentive, strategic DAO allocation, team, community incentives and partnerships, and Trade-to-Earn segments are self explanatory. Here's a brief refresher on the remaining segments:
Early Investors: Made up of global investors Dragonfly Capital, Jump Trading, Kronos, M77 Ventures, Mirana Ventures, Tiger Global, Cobo, and CyberX
OG and Predator NFTS: NFT offerings from the initial ApeX eAMM launch in early 2022 — for OG NFTs in particular, there are a total of 20 holders. In total, they will receive an allocation of approximately 1,041,666 $APEX each, locked for the first six months following the TGE and linearly vested on a monthly basis thereafter.
Please note that the monthly token distribution for OG NFT holders has changed from $APEX to $esAPEX as of February 2023.
$esAPEX is an escrowed version of $APEX, converting which to $APEX governance token requires six (6) months of vesting.
Bybit Launchpad: The public debut of the $APEX token via Bybit's project and token-discovery platform
BitDAO Token Swap: The recently passed BIP-17 on BitDAO's official snapshot, which proposed for a token swap of $2M in USDC for 11M $APEX tokens
For more information on the release schedule, check out our explainer here.