Dear Baby Wealthy Club folks, the crypto winter seems to be warming up a little bit recently. It’s a good chance for the Baby Wealthy Bank to step up and get some earnings. Now we are facing a relatively solid opportunity with good returns - ApolloX LP staking.
ApolloX is the biggest decentralized crypto derivatives exchange on BNB Chain shaping Web3 trading. Through “off-chain matching + on-chain settlement” model, ApolloX Finance achieves high transaction performance and fast response speeds while ensuring the safety and transparency of users’ funds. Users can enjoy a smooth trading experience while connecting to ApolloX Finance with just one click through their decentralized wallets.
ALP is the ApolloX platform’s liquidity provider token. Users can become liquidity providers by using any of the specified assets to buy ALP. Trading PnL is credited to ALP asset value, hence users can profit when ALP asset value increases.
To learn more, visit the project’s official channels
ApolloX Finance: ApolloX DEX | Decentralized Crypto Derivatives Exchange
ApolloX LP: - | ALP | Decentralized Crypto Exchange | ApolloX
Docs: What is ApolloX Finance? - ApolloX Finance
Benefit - Staking Rewards
This proposal is seeking to approve a budget of 300 BNB for ApolloX LP staking. The staking duration will be adjusted as appropriate based on subsequent earnings. By staking ALP, we become the liquidity provider of the ApolloX platform. We share ALP Pool trading profits and earn extra APX token rewards. The current APY of ALP staking is 30.70%.
Estimated Monthly Earning
= 300BNB x 313.8USDT x 30.70%APY / 365 x 30
= 2375.42 USDT
(All the calculation is based on the current data and is only estimated staking result. The actual situation will probably alter based on the APX token price, total liquidity, and market volatility.)
Risk - ALP Price
Any investment comes with corresponding risks. The initial issue price of ALP is USD$1. The fluctuation of ALP price is correlated with the value of the liquidity pool and its trading PnL. Thus, the price of ALP changes accordingly with the profit or loss of the liquidity pool.
Our ultimate goal is to build the cohesion of the Baby Wealthy Club, raise the floor price of the BWC NFT collection, and bring good vibes to the community. If the proposal passes through, we have two options for the rewards usage:
A. 50% of the rewards go back to Bank; 50% buyback of $BRC
B. 50% of the rewards go back to Bank; 50% distribute to BWC holders through lucky draws (5 winners a week)
Snapshot Link: Snapshot
Start date: Feb 21, 2023, 6:00 PM UTC
End date: Feb 23, 2023, 6:00 PM UTC