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- 1 ApeX is an innovative decentralized exchange (DEX) offering access to trading digital assets directly without intermediaries.
- 2 A next-generation trading entity is all set to accelerate DEX in Web3, helping users identify and invest in emerging market trends.
The concept of decentralized crypto exchanges became popular with time, offering a user-friendly interface without revealing the identity of the exchanges. Decentralized exchanges, and peer-to-peer marketplaces, allow traders to make direct transactions without any third-party involvement. One such innovative and advanced DEX emerging in the crypto ecosystem is ApeX. What is it and how well the platform is performing in the crypto space? Let’s find out the same.
ApeX Exchange at a Glimpse
Before examining the utility of the innovative DEX, it is essential to explore the history of the platform. ApeX, a standard and innovative DEX developed over Arbitrum, one of Ethereum’s popular layer 2 solutions, was introduced in the crypto environment to accelerate DEX in Web3.
The platform was developed by Bybit, a famous cryptocurrency trading platform. The permissionless and censorship-resistant protocol offers a safer trading environment. Introduced in 2022, the platform came up with the motive of making perpetual contract trading much easier for the trading world.
ApeX DEX and ApeX Pro, an actual trading platform associated with the ApeX protocol, take care of trading security, making a strong positioning in the decentralized space. In addition, the platform offers close to $34 Million locked-in TVL. After knowing the history and purpose of ApeX DEX, you are all set to explore the additional features of the platform.
What Does the Review Say?
Easy user interface and multi-channel support made ApeX DEX more effective in the crypto space. Despite development over the Arbitrum, the exchange supports seamless interaction with other networks including Ethereum, Binance, and Polygon. Unlike Ethereum, the ApeX DEX does not require a minimal investment and does not ask for any KYC or sign-up requirements.
Another feature is the token-powered ecosystem, offering two native tokens that are APEX and BANA. APEX is a governance token whereas MANA is a reward token. Rewards and referrals, staking support, and a smart liquidity pool make the platform more innovative in the crypto space. Also, ApeX Protocol is well-known for its ApeX NFT game offering players to earn APEX Token, accelerating DEX in Web3.
Despite all these advantages, the platform also holds some of the flaws that affect the positioning of ApeX in the crypto world. Limited selection of digital assets and trading instruments is one of the major drawbacks of the platform. For more tokens, users can visit other platforms like MuX Protocol, one of the fastest-growing DEX. Also, there is no option for live chat to communicate with technical support. Apart from this, the limited availability of bonuses, competitions, and staking is another factor that somehow disappoints traders with ApeX DEX.
Conclusion
ApeX DEX is emerging as one of the innovative DEX in the crypto world that made trading much easier for users. An easy user interface, multi-channel support, and a token-powered ecosystem make the platform much stronger in the crypto space. The limited selection of digital assets on the other hand is a drawback to the platform.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
