Bybit is happy to announce that ApeX Protocol (APEX), Bybit Launchpad’s newest project, is now live.
About ApeX Protocol (APEX)
- Token Name: APEX
- Price: 1 APEX = $0.05 (The exchange rate between BIT and APEX will be determined at the start of the subscription period)
- Total issuance: 1,000,000,000 APEX
- Launchpad distribution total: 10,000,000 APEX (1% of total issuance)
APEX is the native token of the ApeX protocol. ApeX, a decentralized derivatives protocol, helps create a perpetual contract market for any token trading pair.
You can invest in BIT to participate in the subscription, or invest in USDT to participate in the koi lottery to win the token allocation quota.
Note that you cannot participate in two projects at the same time.
For the Subscription:
- Committed Token: BIT only
- Cap per Subscriber: 7,000 APEX
- Total Allocation: 8,000,000 APEX
For the Lottery:
- Committed Token: USDT only
- Allocation per Lottery Winner: 400 APEX
- Total No. of Winners: 5,000
- Total Allocation: 2,000,000 APEX
1. Asset Snapshot Period: April 22, 2022 12:00 AM (UTC) to April 26, 2022 11:59 PM (UTC)
Subscription Tokens: During this period, your average daily BIT balance should not be less than 50 BIT, and the balance will determine the upper limit of the project tokens you can distribute.
Participate in the koi lottery: During this period, your daily average USDT balance should not be less than 100 USDT.
Average daily balance = the sum of hourly snapshots of your BIT or USDT balance in one day/24.
During this period, the balance of invested tokens (BIT or USDT) in your spot account, contract account, Launchpool and current wealth management (within wealth management account) will be automatically recorded through hourly snapshots.
A snapshot of your average daily balance for the day will be updated at 3AM (UTC) the following day.
2. Subscription period: April 27, 2022 from 3:30 am to 10:59 am (UTC)
If you choose the subscription method: You must click “Invest Now” to invest a certain amount of BIT during the subscription period. The minimum investment amount is 50 BIT.
You can subscribe multiple times.
If you choose Koi Lucky Draw: You must click “Insert Now” and invest 100 USDT during the subscription period to get the lucky draw ticket. Each participant can only subscribe for one raffle ticket.
Please note that the BIT or USDT you have invested will be locked before the final distribution of the project tokens, and no transfer, withdrawal or trading operations are allowed.
3. Distribution Period: April 27, 2022 11:00 am to 11:59 am (UTC)
Subscription participants: the final allocation amount = (the amount of BIT invested by individuals / the total amount of BIT invested by all subscription participants) * the total amount of APEX allocated to all subscription participants.
According to the final distribution result, the corresponding BIT equivalent amount will be deducted from the amount invested by the individual, and the APEX and remaining BIT allocated by the individual will be deposited back into the user’s spot account.
Note that there is a cap of 7,000 APEX that a user can earn, and the portion above that limit will be distributed to participants who have not yet reached this cap.
Koi Sweepstakes Participants: The winner will receive 400 APEX, and the remaining 80 USDT of the USDT that has been invested will be credited back to your spot account.
If you fail to win, your invested 100 USDT will be credited back to your spot account.
4. Online time
If the liquidity conditions are met, the new spot trading pair APEX/USDT will be listed on Bybit at 12:00 noon (UTC) on April 27, 2022.
The platform will launch APEX’s stored value and withdrawal functions at 10:00 a.m. (UTC) on April 26, 2022 and 10:00 a.m. (UTC) on April 28, 2022, respectively.
Trading to earn coins: During the period from 12:00 noon (UTC) on April 27, 2022 to 11:59 midnight (UTC) on May 4, users who have accumulated trading volume of more than 2,000 APEX on Bybit can share the 100,000 APEX prize pool.
Ready to jump into the project? Complete the following two steps now:
- Deposit or transfer BIT or USDT to your spot account.
- Circle the calendar and remember the subscription period.
After completing the identity authentication L1 personal authentication or institutional authentication, you can participate in the activity.
Users in restricted regions cannot participate in this event.
The asset snapshot period will be credited to the BIT or USDT balance in your spot account, contract account and wealth management account.
Please note that only the BIT or USDT pledged in Launchpool and current wealth management will be automatically included in the snapshot of the wealth management account.
BIT or USDT in other Bybit wealth management products (such as dual currency investment) will not be included in the calculation.
During the subscription period, if you hold BIT or USDT in your wealth management account or contract account, please manually transfer the BIT or USDT to the spot account.
If your BIT or USDT is still pledged in Launchpool and current wealth management, please go to the “Wealth Management Order” in “Orders and Transactions” to withdraw money, and manually transfer the amount to the spot account.
Please check Bybit official website or contact the customer support with regard to the latest information and more accurate details.
Bybit official website is here.
Please click "Introduction of Bybit", if you want to know the details and the company information of Bybit.
Comment by Hans
April 24, 2024
as I am trading here various assets, for me it's the most important feature. i mean, flexibility in tradable markets. i alternate trading styles, meaning that sometimes I trad...