In a recent announcement, Bybit says it has added support for the decentralized exchange ApeX Pro. Bybit is expanding its product offerings with the addition of ApeX Pro, giving traders more options to leverage both DEX and CEX features on a single platform. Bybit users will now have instantaneous access to the ApeX decentralized protocol via their Bybit accounts, making this new service available right away.
Because of this merger, investors can take advantage of both DEXs and CEXs. It blends the safety, efficiency, and user-friendliness of centralized exchanges with the transparency, control, and anonymity of decentralized ones. In addition, it levels the playing field so traders can feel more at ease using the order book model.
ApeX Pro is a non-custodial, permissionless DEX that uses StarkWare’s scaling engine, StarkEx, to provide high-performance perpetual contracts. It employs zero-knowledge proofs, in which only the changes to a wallet’s balance are recorded on the blockchain. This protects the anonymity of wallet owners. The order book model and the fact that ApeX Pro’s design looks and feels like Bybit drastically cut down on the learning curve.
Also, thanks to the integration, customers may easily move funds from their Bybit accounts into ApeX Pro. Users can start trading immediately with complete peace of mind because transactions take place instantly, and there are no platform fees. Many users are currently debating whether or not to continue using CEXs, so this integration couldn’t have come at a better time.
The failure of FTX has spread panic throughout the cryptocurrency market, and now many traders are looking for a way out of centralized exchanges (CEXs). There is a widespread perception that many CEXs are in the red and could follow the same path as FTX. Some CEXs have responded by publishing so-called “proof of reserves,” but this hasn’t quelled investor concerns.
This post was last modified on Dec 08, 2022, 10:37 GMT 10:37