Planet, ApolloX Partner to Launch New Perpetual Trading on BNB Chain

Planet’s Perpetual Markets

Two big names in Decentralized Finance (DeFi) on BNB Chain are teaming up to expand perpetual trading choices for users. Planet and ApolloX Finance have partnered to launch perpetual trading within the Planet ecosystem.

Perpetual trading is a kind of futures trading allowing users to trade on margin without a set expiration date for the perpetual futures contract.

The new product will enable Planet to offer a greater range of assets for users to trade, including those new to Planet and BNB Chain.

“Planet’s Perpetual Markets signifies the first of many major releases & developments within the Planet ecosystem under Planet’s new leadership,” according to a Planet Medium post.

The Total Value Locked (TVL) on the Planet protocol reached an all-time high of more than $640 million in late November 2021 and has since declined significantly. Currently, Planet’s TVL sits at just under $20 million, after a drop of nearly 90% in the past month, according to DefiLlama.

The TVL of derivatives protocol ApolloX, meanwhile, has steadily increased since mid-2022 and currently stands at $38 million, according to DefiLlama.

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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