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    Unlocking Bigger Rewards: Trade-to-Earn Round 2

    Jan 18, 2024

    2 min read

    Trade-to-Earn

    ApeX

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    ApeX is ecstatic to roll out the red carpet for the 2nd iteration of our much anticipated Trade to Earn (T2E) event! Set to commence on January 22, 2024, at 12AM (midnight) UTC we're bringing back ApeXer's favorite year-long adventure — T2E Round 2, with slight modifications to make your trading journey even more rewarding.

    Before you dive in, take a moment to explore our comprehensive overview of this year's event! Discover the ins and outs, and get ready to unlock rewards while trading on ApeX Pro for the next 52 weeks!

    How Trade-to-Earn Works

    Trade-to-Earn is an opportunity for your trading activities on ApeX to earn you rewards. The mechanism is simple: the more you trade, the more you gain.

    T2E is not a one-off single event, but a 52-week long program consisting of several rounds, giving everyone a chance to build up their earnings. All you need to do is place your trades on any of our USDT contracts to start earning.

    For those of you just joining, here's a quick refresher: In November 2022, alongside the launch of ApeX Pro, we introduced our inaugural T2E event. Over 53,000 participants embarked on this journey, earning rewards on their trades throughout the year!

    Now, we're gearing up to go even bigger and welcome more traders on board this time around!

    What's New with T2E Round 2 This Year?

    We're introducing an upgraded structure for Trade-to-Earn Vol. 2 this year:

    1. New $BANANA Token

    T2E Round 2 will be supported by a brand new $BANANA token on the Ethereum network. $BANANA is minted with a total of 10,000,000 $APEX that is locked over a period of 12 months at an initial redeem rate of 0.001. Reward tokens will be automatically distributed among ApeXers who trade any and all USDT perpetual contracts on ApeX Pro on a bi-weekly basis.

    1. Enhanced Rewards Pool with Potential Airdrop Opportunities

    The new spin on the program is set to offer enhanced rewards pools, adding an extra layer of excitement and incentives for ApeXers with potential airdrop opportunities. In addition to $BANANA rewards, ApeX traders can now seize additional rewards in partner project tokens. Allocation will be based on traders' total T2E score and project-specific factors, soon to be unveiled with the launch of these prize pools/airdrop events. With this initiative, traders can seize the opportunity to have their trades yield multiple rewards, spanning not just one, but multiple tokens.

    How is $BANANA's Allocation Determined?

    The total amount of $BANANA traders can earn within a single epoch is dependent on several factors, including a combination of bi-weekly trading volume, USDT balance, and the amount of $BANANA-USDT LP Token balance during a single period, calculated using the Cobb-Douglas function.

    According to the calculation formula provided below, the final rewards will increase proportionally with the number of trades and the corresponding bi-weekly trading volume generated by traders:

    Hence, the more you trade and the more bi-weekly trading volume you generate, the greater the final allocation.

    For more information about how reward calculation happens, please visit our Gitbook explainer.

    3 Steps to Maximize Rewards

    1. Swap: $BANANA can be swapped for USDT via the $BANANA-USDT pool at any time during these 52 weeks.

    2. Add Liquidity: Add your $BANANA and USDT to the $BANANA-USDT Pool* to receive LP Tokens. LP Tokens held during an epoch will contribute to a trader's Average LP Token Holdings, a critical factor that will eventually decide the total amount of $BANANA distributed at the end of each epoch. The more LP tokens held, the more traders can receive stacked total rewards in $BANANA.

    3. Hold and Redeem: Traders who hold onto their $BANANA long-term can use them to redeem $APEX governance tokens pro-rata after the event period, at the end of the set 52 weeks. The redemption rate is dependent on the amount of $BANANA burnt in the Buy & Burn Pool* at the end of the event.

    *Please note, the $BANANA-$USDT liquidity pool on T2E Round 2 official page will be launched at the time of the commencement of the 2nd epoch.

    *The ApeX team will allocate a portion of ApeX Pro's trading fees for the buyback and burning of $BANANA tokens to uphold its price stability.

    Creating Value

    T2E events are designed with the primary goal of empowering the trader community to extract greater value from their contributions to the ApeX trading platform, ApeX Pro. Aligned with the fundamental principles of crypto and decentralized finance, our mission is to reciprocate to our community by enabling them to grow their wealth in a fair, transparent, and rewarding manner.

    We strongly believe in the synergy between decentralization and community, with traders at the heart of our platform. The emphasis on community is a core principle at ApeX, and this exciting program is designed to reward you for your contributions.

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