The new product is a one-stop solution that will enable blockchain protocols to seamlessly deploy derivatives trading on their platforms.
ApolloX Unveils Derivatives Engine
One of BNB Chain‘s leading decentralized derivatives protocols, ApolloX, has developed a customizable Decentralized Exchange (DEX) engine for derivatives trading.
The new ApolloX derivatives DEX solution, which was announced by the platform through a tweet on July 23, will make it easier for blockchain protocols to deploy derivatives trading on their platforms. Almost like plug-and-play, the protocols only need to tweak the frontend user interface to suit their brand, while ApolloX takes care of the backend functionality and provides liquidity access, security, trading application programmable interface (API), full client support, etc.
Research by JumpCrypto indicates that derivatives, such as futures trading, contribute more than 57% to the monthly transaction volume of major exchanges such as Binance, KuCoin, etc. The derivatives market is unique because it is always boisterous and active regardless of whether the market is bearish or bullish since traders can profitably trade in both market conditions, unlike spot traders.
As such, expanding into derivatives may be a good business decision for decentralized finance protocols as it could guarantee profitable trading activity at all times. In addition to the profits accruing to a platform from derivatives trading, users would pay trading fees using the native tokens of those DeFi protocols. It is thus a way to increase the utility of a platform’s native token.
According to ApolloX, blockchain-based platforms that can integrate the derivatives DEX engine include wallet protocols, crypto exchanges, swap protocols, asset management protocols, etc.
AmpleSwap, a decentralized exchange on BNB Chain, recently integrated the ApolloX derivatives DEX engine and launched its derivatives trading feature. Apart from AmpleSwap, other notable decentralized finance protocols that have deployed the ApolloX DEX engine include Pancakeswap and BabySwap.
Decentralized Finance will progress more as an ecosystem when protocols collaborate. ApolloX’s customizable DEX derivatives engine is a good example of how protocols can form synergy and leverage each other’s area of competitive advantage, which is a win-win situation for everyone. For platforms interested in signing up for the ApolloX DEX Derivatives engine, here is the application form.
What is ApolloX?
ApolloX launched in 2021, with a mission to make crypto trading accessible to everyone. The platform’s ecosystem comprises BNB Chain’s foremost decentralized crypto derivatives exchange – ApolloX DEX, an in-built DeFi Wallet, ApolloX NFTs, and its proprietary derivatives trading solution – ApolloX DEX Engine.
ApolloX is among the top BNB Chain decentralized exchanges and has attracted seed funding from major venture capitalists like Binance Labs and Kronos Research, 3Commas, and LUX Capital.
Where to find ApolloX:
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