- ApolloX DEX has secured a strategic investment to drive continued expansion and shape of Web3 commerce
- Investors who participated in the seed funding round include Binance Labs, Kronos Research, and 5 others.
- ApolloX looks to build new product lines in its ecosystem and move to DAO self-management
ANTIGUA , Antigua and Barbuda , June 8, 2022 /PRNewswire/ — ApolloX , a top 10 decentralized exchange (DEX) on CoinMarketCap as of June 2022, announced today that it has raised an undisclosed amount of seed funding from investors like Binance Labs and Kronos Research.
Other investors participating in the round include Lingfeng Capital, SafePal, TokenPocket, 3Commas, and LUX Capital.
The strategic funding will help ApolloX expand its current product and create new product lines in the ecosystem, such as spot trading, earnings prediction and DEX as a service. Since its launch in September 2021, ApolloX continues to see stellar growth, with cumulative trading volume reaching $158.87 billion as of May 2022.
“Decentralized finance is increasingly eating away at centralized finance market share. Protocols are rapidly innovating in this competitive space as users demand more control, value, and accessibility. We are very pleased that our contributions are recognized by our investors.” to this evolution towards decentralization and Web3,” said ApolloX Captain, founder of ApolloX .
ApolloX offers an affordable yet sophisticated decentralized trading solution. The team’s understanding and passion for the industry drives ApolloX to build features that will change the experience of everyone interested in cryptocurrency and blockchain.
ApolloX 2.0 and DAO self-management
In April 2022, the platform announced its future plan to achieve its vision of Web3: ApolloX 2.0 , a burn of 5.75 billion worth of APX tokens, and the transition to decentralized autonomous organization (DAO) self-management.
The DAO structure will help foster the adoption of decentralized crypto assets and user-centric blockchain technology globally. ApolloX DAO will use industry standard solutions to implement decentralized governance and facilitate transparent and trustless decision-making by the platform development community.
ApolloX believes that the future of DAO will help eliminate centralized leadership and empower the next generation of protocols to take blockchain innovation to greater heights. This will lead to new markets and opportunities for the industry.
In the coming year, ApolloX will execute its roadmap and continuously improve its degree of decentralization. It will also continue to expand its strong network of partners with platforms and companies such as CoinMarketCap, PancakeSwap, and Banxa Holdings.
