


The DAO for BNB Chain derivatives trading platform ApolloX is voting to move away from staking rewards for APX-BUSD to other coins, including $BNB.
BUSD Phaseout Impacts DeFi
The Decentralized Autonomous Organization (DAO) for ApolloX is considering a proposal to move away from staking rewards for the original APX-BUSD LP token, citing “the uncertainty and potential risks of the BUSD stablecoin.”
🗳 ApolloX DAO Proposal-10
— ApolloX (@ApolloX_Finance) February 14, 2023
ApolloX proposes to migrate the staking rewards for the original APX-BUSD LP token obtained on PancakeSwap to APX-USDC, APX-USDT or APX-BNB liquidity pairs.
👉 Learn More: https://t.co/OfjYUA3EWd
👉 Vote Now: https://t.co/212coaGJLV pic.twitter.com/E21RCDk6x4
The BNB Chain derivatives trading platform is one of many Decentralized Finance (DeFi) protocols that will have to make similar decisions following news that Paxos Global will stop minting the Binance-branded stablecoin on Ethereum.
For example, BSC News reported earlier that the DAO for massive crypto lending platform Aave Protocol is weighing a proposal to freeze its BUSD reserves.
(See our review of DeFi protocols with the largest yield-producing BUSD pools here.)
The ApolloX proposal gives voters four options for migrating staking rewards: APX-USDC, APX-USDT, APX-BNB or keeping APX-BUSD.
Very early returns have APX-BNB leading with 65% of the vote. The DAO vote ends Feb. 18.
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:
Website | Twitter | Telegram | Discord | Reddit | Instagram
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News


Exploring BRC-20: Top Five NFTs Building on Bitcoin Network

Presenting the top five NFT collections on Bitcoin Blockchain according to Magic Eden.
TL;DR:
- Bitcoin network introduces BRC-20 standard for NFT development, expanding beyond Ethereum.
- Top five NFT projects building on the Bitcoin network: Bitcoin Frogs, DogePunks, Misprints, BTC DeGods, and NPC Ordinals.
- Each collection offers unique digital assets stored securely on the Bitcoin blockchain.
- These projects showcase the potential of NFTs on Bitcoin, with significant trading volumes and sales recorded in the last 30 days.
Non-Fungible Tokens (NFTs) have taken the digital world by storm, revolutionizing how we perceive and trade digital assets in the blockchain industry. While Ethereum has been the primary blockchain platform for NFT development, the Bitcoin network has now entered the fray with its unique standard called BRC-20.
This article will delve into the top five NFT projects building on the Bitcoin network and explore the potential they bring to the NFT ecosystem. Important metrics would be obtained from Magic Eden and OrdinalHub. Further, all the NFTs listed in this article can be purchased on Magic Eden.
Bitcoin Frogs
Bitcoin Frogs, as the name implies, is a collection of 10,000 generative frogs on the Layer1 blockchain, with several unique traits and designs. The floor price of each NFT on Magic Eden is worth approximately 0.08 BTC ($2,000+).
According to OrdinalHub, the total volume of Bitcoin Frogs NFTs traded across numerous marketplaces is over $11M in the last 30 days. The collection is also close to recording 10,000 sales in the NFT space.
DogePunks
DogePunks is a unique collection of NFTs blending the legendary CryptoPunk theme with the iconic Doge meme. Each artwork is unique, with proof of ownership stored on the Bitcoin Blockchain.
The design comes in different varieties, including normal, zombie, ape, and alien DogePunks. Further, each digital piece has its own unique trait.
The floor price for DogePunks is 0.0155 BTC ($421), and the total volume of NFTs traded in the last 30 days is over $2M. In addition, the collection has recorded 10,000 sales within this period, representing a significant milestone in the Bitcoin NFT space.
Misprints
Although the Misprints collection looks very much like Bitcoin Frogs, it is not affiliated with the collection. The floor price is 0.0141 BTC ($383).
The total volume of Misprints NFTs traded in the last 30 days is over $1M with 2172 sales.
BTC DeGods
BTC DeGods is arguably the biggest NFT collection on the Layer1 blockchain. It is a digital art collection and global community of creators, developers, entrepreneurs, innovators, and more.
The floor price of each unique digital piece is worth 1.05 BTC, with over $1M in volume traded in the last 30 days. Apart from trading the collection on supported marketplaces, DeGods NFTs can also be staked to earn rewards on the website, offering users passive income.
NPC Ordinals
NPC Ordinals is a collection of 10,000 NPCs on the Bitcoin blockchain with a floor price of 0.0027 BTC ($73) and over 8,000 sales across numerous marketplaces in the last 30 days.
Other notable mentions on the Bitcoin blockchain include Bitamigos, Bitcoin Punks, Battle of BTC, Neo Yauto, Pepe & Pepita, and Bixels. BSC News recommends visiting OrdinalHub for NFT analytics on the Bitcoin blockchain.
As the NFT space continues to evolve, these projects are at the forefront, bringing unique and exciting experiences to collectors, artists, and enthusiasts alike. The future of NFTs on the Bitcoin network looks promising as more developers and innovators explore new possibilities of digital assets through the BRC-20 framework.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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