BIP-17: ApeX Protocol Proposal to BitDAO

ApeX Protocol proposes:

1. Token swap of $2M USDC for 11M $APEX governance tokens

• BitDAO will commit not to sell the $APEX tokens for 2 years;
• The USDC may be used immediately to improve liquidity on ApeX Pro and support more trading pairs;
• Additionally, should any extenuating circumstances arise, BitDAO retains the rights to undo the token swap within a 2-year timeframe (pending BitDAO proposal).

||BitDAO Swaps|ApeX Swaps|| | --- | --- | --- | --- | ||$USDC|$APEX|| |Swap Units|2,000,000|11,000,000|| |Current Price|$1.00|$0.30|| |TWAP Price||$0.40|Discount| |Current Value|$2,000,000|$3,300,000|39%| |TWAP Value|$2,000,000|$4,433,000|55%| |Lockup|None|2 year hold|| Note: The TWAP price (2022/11/02-2022/11/15) of $APEX on Coingecko is 0.4028

2. Commitment from ApeX Protocol to prioritize the deployment of ApeX Pro on the upcoming BitDAO Infrastructure Project (BitNetwork).

Read the full proposal here