ApeX Protocol Debuts USDT Contract Listings With Negative Market Maker Fees and 5,000 USDT Rewards Pool

By Chainwire

November 15, 2023 – Saint Vincent and the Grenadines, Caribbean

The leading non-custodial derivatives DEX (decentralized exchange, ApeX Protocol proudly unveils the beta release of USDT contracts today. This significant development marks ApeX as one of the pioneering DEXs, offering support for both USDC and USDT perpetual contracts.

Recognizing USDT’s substantial share in the stablecoin market – accounting for 69.5% as of November 15, 2023 – ApeX takes a significant step forward by broadening its product range.

The introduction of USDT contracts, initiating with the BTC-USDT pair, provides traders with 50x leverage, with additional contract listings in the pipeline for the near future.

This strategic expansion underscores ApeX’s commitment to user-centric innovation and responsiveness to market trends, reaffirming its position as a leading player in the DeFi space.

As part of this launch, ApeX is introducing the USDT Market Maker Incentive Plan, which offers participants negative maker fees of -1.2 basis points for the initial 120 days.

Subsequent to this initial period, participants can access long-term incentives of up to -1.1 basis points based on their trading volume.

Furthermore, the launch comes with the 5,000 USDT Beta Bounty event, designed to reward traders who actively test the platform and provide feedback, recognizing their contributions to establishing a secure and optimal trading experience on ApeX.

Tekla I, head of business development at ApeX Protocol, said,

“The integration of USDT contracts is not just about expanding our platform’s offerings – it’s a testament to our unwavering dedication to providing traders with tools that enhance efficiency and broaden opportunities.

“We believe in a decentralized future where trading is more accessible, transparent and aligned with the true spirit of blockchain.”

About ApeX

ApeX is a non-custodial trading platform that delivers limitless cross-margined perpetual contracts to its metacommunity under a new social trading framework.

It is primed to provide unlimited access to the perpetual swaps market with its order book model, as it remains committed to the promises of speed, efficiency and security with transparency on traders’ preferred derivatives trading assets.

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