What Is ApolloX(APX)?

ApolloX (APX) is the token offering of ApolloX, a CEX-DEX hybrid network. The Centralized Cryptocurrency Exchanges (CEX) are platforms where individuals can trade cryptocurrencies. The foundation goal of the platform is to make cryptocurrency easily accessible to everyone. ApolloX aims to create a customer-centric platform through Binance Cloud Chain technology. Binance Cloud Technology is a technology that aids in launching other crypto-based networks.

As per the website, the ApolloX platform draws inspiration from the Apollo Space Program, the first mission to land humans on the moon. The platform envisions a similar growth for the crypto market and users through ApolloX.

APX, the token offering of the platform, follows BEP20 standards and works on Binance Smart Chain (BSC). BEP20 is a specific token standard of the BSC network, similar to ERC20 on the Ethereum network.

ApolloX aims to dedicate 44% of the total supply as rewards for token holders through staking and liquidity. The platform also plans to allocate 3.5% as mining rewards, 5% for marketing, and burns 1% of transaction tax from all transactions on the network. Burning is the process of withdrawing tokens from the market to increase the value and reduce the supply. As per the website, the burning number of APX tokens stands at 224 million.

ApolloX aspires to make cryptocurrency trading simple and less technical for users worldwide by employing the hybrid CEX-DEX model.

History of ApolloX (APX)

ApolloX’s founding team includes Jingyi Zhou and Will Li. The platform development began in 2018 with the goal of decentralizing the global e-commerce industry. ApolloX’s first token issue was made in 2021. The total supply of APX stands at 10 billion.