SolApe Finance Announces ApeXleverage

Users can analyze markets and enter leveraged positions with the new tool from the Solana platform.

By
Utulu Hope
on
June 13, 2021
Category:
Breaking News

Sol Ape Announces ApeXleverage 

SolApe has announced the introduction of ApeXleverage via Twitter on the 11th of June 2021. With its introduction, users will be able to trade $SOL, $SRM, $ETH and $BTC at 5X leverage integrated on SolapeSwap and powered by Mango Markets. 

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Leverage Trading 

Leverage trading of cryptocurrency essentially lets users increase their potential profits and losses. By giving users an option to control their positions between 5X and even up to 120X times the amount needed to open, leverage increases one’s potential yield. There are several platforms that offer leverage trading like Binance, ByBit, Morpher. ApeXleverage will help to introduce the Solana blockchain to these options, which are highly popular thanks to their tremendous profit potential. It is advised that anyone engaging in leveraged trading has a suitable amount of market experience and takes care with their portfolio. Leveraged options are some of the riskiest plays available for investors, and there is just as much chance of catastrophic losses as there are enormous wins.


What is ApeXleverage? 

ApeXleverage is a leveraged trading platform built on SolApe Swap. The platform gives users the option to trade assets with leverage positions. Presently, ApeXleverage holds trading support for BTC, ETH, SOL, and SRM, with morr to be added in the future. Users need to connect their Sollet or Phantom wallets to access its unique features. On ApeXleverage, one can trade, borrow, and check asset statistics such as total deposits, total borrows, deposit interest, borrow interest, and utilization powered by Mango Markets. 

Leverage trading on the SolApe-owned platform is very straightforward. Users can either buy long or sell short, similar to other leverage trading platforms. The only difference is that leverage trading on ApeXleverage is at a fixed position — 5X.  Users can choose to buy/sell at either limit or market price. This means that they can enter the market at its current price or set the entry point manually. Therefore, users can utilize SolApe’s decentralized exchange (DEX) to analyze the market and use their analysis to maximize their profit on ApeXleverage. 


Final Thoughts  

Since launching on the 7th of May, the development of SolApe and SolApe Swap (SolSwap) has attracted the attention of both users and industry professionals. The protocol has expanded its team to meet up the demands of its users amidst the constant growth. One key feature about the platform is its DEX — SolSwap. SolSwap has attracted both newbies and expert traders thanks to its ease of use that doesn’t sacrifice functionality. The protocol aims to make SolSwap the DEX gateway for inexperienced users on the Solana ecosystem, offering reliability and superb features. 

The platform has inbuilt trading tools for traders to keep track of market systems. Its native SOLAPE token is making the rounds lately, as approximately 9 Million $SOLAPE were traded in the past 24 hours at the time of writing. At current prices, that makes $SOLAPE the 13th highest volume pair on Serum ($180,000). 

The introduction of ApeXleverage is one that will provoke more adoption thanks to the leverage options now available. SolApe is making moves towards becoming a one-stop DEX on the Solana ecosystem, offering passive earning and high-risk-high-reward trading.


About SolApe

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SolApe is a most-degenerate DEX that offers token charts and trading tools for users. The DEX offers fast and cheaper trading thanks to Solana’s unique offerings. The team has stayed busy since the project’s launch, due to increased demand from an audience that is growing daily.

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Utulu Hope

UC Hope is a passionate fan of crypto who could weave the latest event into sparks of inspiration and information. He leaves no stone unturned to get to the core of a story. Aside from writing, he spends his hours poring over algorithms and protocols, preparing for a future career as a computer programmer.