Proposal for ApolloX ($ALP) Syrup Pool on Arbitrum

PancakeSwap Welcomes ApolloX ($ALP) to Syrup Pool on Arbitrum!

Dear CAKE holders, we’re proud to announce a new Syrup Pool with ApolloX, the partner for PancakeSwap Perpetuals V2 on Arbitrum!

ApolloX Finance is a decentralized derivatives exchange that designed the ApolloX DEX Engine, which powers PancakeSwap Perpetuals V1 and V2 on BNB Chain. PancakeSwap Perpetuals V2 has achieved over $1 billion in trading volume since April 2023, and in partnership with ApolloX, is now expanding to Arbitrum.

The Syrup Pool:

Stake ALP tokens to earn CAKE tokens!

• Total Tokens: ~22,500 CAKE + 1,125,000 APX (converted into CAKE)
• Distribution duration: 45 days
• Start time: Approx. 1300 UTC on 28 Aug 2023
• Finish time: Approx. 1300 UTC on 12 Oct 2023
• Token rewards per second: CAKE (will depend on final CAKE amount)

The CAKE tokens used to fund this Syrup Pool will be provided by PancakeSwap and ApolloX equally. The final CAKE amount will depend on token prices at time of conversion.

On PancakeSwap’s side, the CAKE tokens will not come from increased emissions, but rather will be taken from our ‘Multichain Warchest’ allocation. The yield from the Syrup Pool will encourage more users to participate in ApolloX’s deployment on Arbitrum, increasing liquidity for PancakeSwap Perpetuals V2, ultimately leading to greater CAKE burn from increased volume and fees.

Image taken from our tokenomics page

Max Stake per Wallet:

There will be no cap on how much CAKE a user can stake in the Syrup Pool. This is to encourage as much on-chain ALP liquidity as possible.

What is Perpetual Trading?

Disclaimer: This information presented in this proposal does not constitute any form of financial advice or recommendation, please do your own research before making any investment decisions.

Perpetuals, perpetual swaps, or perps are a special type of futures contract without an expiration date.

Futures trading allows users to enter positions on margin (leverage) using borrowed funds to optimize capital. Using leverage allows a user to enter a position with a size that is larger than their account balance. For example, using 10x leverage, a user could trade 100 CAKE for the price of 10 CAKE. In this example, the initial margin would be 10 CAKE which is used to collateralize the leveraged position.

In PancakeSwap Perpetuals V2, we've streamlined our interface by removing the order book and market depth displays. Instead, our partners ApolloX have introduced the ALP pool, which now provides liquidity for all trading pairs, maximizing your capital usage. The ALP pool will actively participate in the market-making process for our V2 perpetual contracts.

More information can be found on ApolloX and on PancakeSwap Perpetual Trading.

What is $ALP?

From the team: “ALP is the ApolloX platform’s liquidity provider token made up of a pool of assets (USDC, USDT, ETH, BTC). Users can become liquidity providers by using any of the specified assets to buy ALP. ALP pool is the direct counterparty of V2 on-chain perp traders.

The initial issue price of ALP is USD$1. The price of ALP is influenced by the profit or loss of the pool and income from trading fees, funding fees and liquidations. Users can also stake ALP to earn APX rewards.

In the future, ApolloX plans to support more utility of ALP on the platform such as earning transaction fee rewards, using ALP as margin for perpetual trading, and participation in DAO governance and voting.

A step-by-step guide on buying, selling, and staking ALP can be found here”

To learn more, visit the project’s official channels:

• App: https://perp.pancakeswap.finance/en/futures/v2/
• Blog: https://blog.pancakeswap.finance/articles/ep-6-5-perpetuals-v2-trading-guide
• Twitter: https://twitter.com/ApolloX_Finance
• Telegram: https://t.me/apolloxchange
• Discord: https://discord.com/invite/q5eH3zktcm
• Audits: https://apollox-finance.gitbook.io/apollox-finance/about-us/audit-reports

How do you stake $ALP to earn $CAKE rewards?

Follow this guide to staking in Syrup Pools:

https://docs.pancakeswap.finance/products/syrup-pool/syrup-pool-guide

⚠️⚠️⚠️BEWARE OF FOOD POISONING⚠️⚠️⚠️💀

The official ALP token contract address on Arbitrum One is:

https://arbiscan.io/token/0xbc76b3fd0d18c7496c0b04aea0fe7c3ed0e4d9c9

​Any other ALP token will be a scam. Always verify the token address before buying tokens. If you receive an ALP token airdrop from another address, it’s probably a scam, and we advise you to ignore it.