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What is APX (APX)?
Quick Facts
- Native token of ApolloX Finance (also known as APX Finance)
- Blockchain: BNB Smart Chain (BEP-20)
- Launched: 2021, rebranded to APX Finance in 2023
- Use cases: Staking, governance voting, trading fee discounts
- Platform type: Decentralized perpetual futures exchange (DEX)
- Audited by: CertiK, Salus Security, and PeckShield
- Key feature: Dual-product model — order book (V1) and on-chain perps (V2)
Introduction
APX is the native utility and governance token powering ApolloX Finance, a decentralized exchange (DEX) focused on crypto derivatives. Originally launched as ApolloX in 2021 and rebranded as APX Finance in 2023, the platform carved out a strong position as one of the leading derivatives DEXs on BNB Chain.
The protocol allows traders to access perpetual futures contracts — a popular derivatives instrument — without relying on a centralized exchange or giving up custody of their assets.
History & Background
ApolloX launched in 2021 on BNB Chain, quickly building traction in the on-chain derivatives space. The team introduced V2 — a fully on-chain liquidity model — to complement the original order-book-based V1 product, offering improved transparency and lower slippage.
In 2023 the platform rebranded to APX Finance. By 2025, APX had merged with Astherus to form Aster, a multi-chain DEX, with APX holders eligible to convert their tokens to ASTER.
How APX Works
ApolloX operates two distinct trading products. V1 is an order-book perpetuals model supporting multiple chains including BNB Chain, Ethereum, Arbitrum, zkSync Era, and Base. V2 is a fully on-chain model where all trades are executed against the ALP pool — a shared liquidity pool of stablecoins and blue-chip assets.
V2 uses a dual-oracle model combining Binance Oracle and Chainlink for accurate, manipulation-resistant pricing. Traders can access leverage of up to 1001x under the platform's 'Degen Mode,' with zero slippage for select pairs.
Tokenomics
APX serves multiple roles within the ecosystem. It is used to pay trading fees in V1, earn staking rewards, and access governance rights through APX DAO. The token contract includes a built-in burn-and-DAO-treasury mechanism, where a portion of each transfer is either burned or directed to the DAO treasury.
Stakers lock APX for set periods and earn a share of platform trading fee revenue, distributed in stablecoins or BNB. Distribution is designed to reward long-term holders who actively support the protocol.
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Circulating supply
| 790.81 million APX |
|---|---|
| |
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Total supply
| 9.84 billion APX |
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Max supply
| 10.00 billion APX |
Ecosystem & Use Cases
- Trading: Access perpetual futures on 25+ markets across major asset classes
- Staking: Lock APX to earn protocol fee revenue and boost trading rewards
- Governance: Vote on protocol parameters and treasury decisions via APX DAO
- Liquidity provision: Mint ALP tokens to participate in V2 market making and earn yield
- Fee discounts: APX holders benefit from reduced trading fees on the platform
Team, Governance & Community
ApolloX is backed by credible venture capital firms and institutions. The platform integrates a DAO governance model, allowing APX stakers to vote on key protocol decisions including trading parameters and treasury allocation.
The community coordinates through official channels including Telegram and Twitter, and the platform has partnered with 30+ ecosystem projects, including PancakeSwap.
Advantages
- Non-custodial trading — users retain full control of their assets at all times
- Dual-product model — V1 order book and V2 on-chain perps serve different trader needs
- Multi-chain support — V1 available across BNB Chain, Ethereum, Arbitrum, and more
- Real yield — staking rewards derived from actual protocol fee revenue, not inflation
- Audited security — smart contracts reviewed by CertiK, Salus Security, and PeckShield
Risks & Challenges
- High leverage risk — ultra-high leverage like 1001x amplifies both gains and losses significantly
- Smart contract risk — on-chain protocols remain vulnerable to undiscovered exploits
- Competition — the perpetuals DEX space is crowded, with rivals like dYdX and GMX
- Token migration — APX's merger into ASTER introduces uncertainty for existing APX holders
- Liquidity concentration — ALP pool performance directly impacts V2 traders and providers
Long-Term Vision
ApolloX aimed to bring the full functionality of centralized exchange derivatives trading to DeFi — combining deep liquidity, high leverage, and transparent on-chain settlement. With its evolution into Aster, the project is pursuing a broader multi-chain DEX strategy, seeking to consolidate the ApolloX ecosystem into a unified platform capable of competing across major blockchain networks.
Frequently Asked Questions
- What is APX token used for?
APX is the native utility and governance token of ApolloX Finance. It is used for staking to earn protocol fee rewards, voting in DAO governance, and receiving trading fee discounts on the platform.
- On which blockchain does APX operate?
APX is a BEP-20 token deployed on BNB Smart Chain. The ApolloX trading platform also supports Ethereum, Arbitrum, zkSync Era, and Base for its V1 order-book product.
- What is the ALP pool?
ALP is ApolloX's liquidity provider token representing a pool of stablecoins and blue-chip assets. All V2 trades are executed against the ALP pool, and users who mint ALP participate in V2 market making and earn a share of trading fees.
- What is the difference between ApolloX V1 and V2?
V1 is an order-book-based perpetuals model offering deep liquidity and multi-chain support. V2 is a fully on-chain liquidity model using the ALP pool, delivering more transparent trades with very low to zero slippage.
- How does APX staking work?
Users lock APX tokens in APX DAO for defined periods and receive a proportional share of platform trading fee revenue. Staking also grants voting power for governance decisions and can boost trading rewards.
- Is ApolloX audited?
Yes, ApolloX smart contracts have been audited by CertiK, Salus Security, and PeckShield, three well-known blockchain security firms.
- What happened to APX with the Aster merger?
In 2025, ApolloX merged with Astherus to form Aster, a multi-chain DEX. APX holders became eligible to convert their APX tokens to the new ASTER token at a defined ratio.
- Where can I trade APX tokens?
APX tokens are primarily traded on PancakeSwap on BNB Chain. They can also be accessed on other decentralized exchanges by importing the contract address from BscScan or official documentation.