Apex's Total Valued Locker hits $95 million, with overall volume closing in on the $100 billion mark
In the dynamic world of decentralized finance (DeFi), Apex Protocol has made significant strides, establishing itself as a leading player in the derivatives market.
Apex Protocol, a non-custodial derivative trading protocol, offers two flagship products: Apex Pro and Apex Omni. Apex Pro, a permissionless decentralized exchange (DEX), operates as a platform for cross-margined perpetual contracts, offering up to 50x leverage and instant settlement. Apex Omni, on the other hand, is a multi-chain DEX designed for maximum efficiency and optimal performance.
The combined trading volume of Apex Pro and Apex Omni platforms surpassed $96 billion in 2024. This impressive figure is a testament to the growing popularity of these platforms among traders and investors.
In 2024, the Apex decentralized derivatives platform expanded significantly, showing growth in TVL (Total Value Locked), liquidity distribution across chains, and enhanced performance of its trading products, Apex Pro and Apex Omni.
The TVL and liquidity distribution of Apex Protocol are noteworthy. Apex Protocol aggregates omnichain liquidity through Apex Omni, supporting multiple blockchains including Ethereum and Solana. The liquidity pool benefits from Protocol Controlled Value (PCV) and an Elastic Automated Market Maker (eAMM), which stabilize liquidity and reduce risks like rug pulls. This multi-chain liquidity aggregation contributed to a notable increase in TVL during 2024, as Apex Omni enhanced cross-chain capital efficiency and supported a wider variety of perpetual contracts.
Apex Pro offers leveraged perpetual contract trading with up to 50x leverage, operating as a permissionless, non-custodial decentralized exchange. Apex Omni complements this by providing a streamlined, privacy-focused trading experience without KYC requirements, suitable for companies and institutional users. The use of StarkEx validity proofs ensures high security for user funds and rapid transaction finality, supporting heavy trading volumes and reducing counterparty risks.
The platform's native token, $APEX, underwent a 50% supply reduction in 2024 to improve tokenomics. It remains central to governance, staking rewards (including recent dual yields with APEX-USDT LP tokens), and tiered VIP access with trading fee discounts that incentivize liquidity provision and protocol loyalty.
While Apex grew, decentralized perpetual trading platforms made major technological strides in 2024. Competitors like Perpetual Protocol introduced Smart Liquidity frameworks combining on-chain and off-chain order books for improved liquidity matching and trading efficiency, positioning DEXs at near parity with centralized exchanges. Apex’s omnichain liquidity approach via Apex Omni similarly boosted its competitive edge by supporting diverse assets and chains with deep liquidity pools.
As of the current writing, the TVL of the Omni platform is approximately $6 million, reaching a record high of $6.6 million on August 30. Arbitrum-based assets dominate the Omni platform, accounting for about two-thirds of the TVL. Binance Smart Chain, Mantle, and Ethereum follow in order, making up the remaining TVL on the Omni platform.
The growth of Apex Protocol is evident in its performance. Apex Pro supports crypto assets on multiple blockchains, with Ethereum accounting for 99% of deposited liquidity. On August 5, 2024, daily volume on Apex Omni hit a record $1.65 billion. Apex Omni handles over $180 million in derivatives trading volume per day. The Omni platform recorded its third day of daily inflows exceeding the $1 million mark on August 30.
In conclusion, Apex Protocol’s 2024 expansion solidified its role as a leading decentralized derivatives hub, driven by increased TVL via its omnichain liquidity aggregation, strong performance and security of Apex Pro and Apex Omni trading interfaces, and strategic governance token upgrades enhancing user incentives and protocol sustainability. Apex has gained over 50% since the beginning of the year, further demonstrating its robust growth in the DeFi space.
[1] Apex Protocol Official Blog: https://blog.apexprotocol.io/ [2] Perpetual Protocol Whitepaper: https://perpetualprotocol.io/wp-content/uploads/2021/06/Perpetual-Protocol-Whitepaper-v1.0.pdf [3] StarkWare Official Blog: https://blog.starkware.co/
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