The ApeX Eternal Derivatives Protocol (APEX) announced that it has completed its token burn, reducing the total supply to 600 million tokens. This action is aimed at increasing the scarcity and value of the cryptocurrency, as well as improving the market dynamics of the token. 📉🔥
This is the third stage of a plan to reduce the supply of APEX by 50%, from 1 billion to 500 million, to increase the value of the token. ApeX began burning tokens in January and conducted another tranche in April.
The APEX token plays a key role in the ApeX protocol, providing revenue distribution through the ApeX staking program. Additionally, the asset will be important for governance purposes, allowing holders to influence the roadmap and various settings.
The project recently collaborated with zkLink, a developer of zero-knowledge blockchain solutions, to launch ApeX Omni. This new product is modular, intent-driven, and DEX chain agnostic. It includes a multi-chain trading structure with aggregated liquidity and aims to improve the DEX trading experience with new features and high performance.