ApeX Protocol (APEX) is a decentralised, non-custodial, and permissionless perpetual derivatives protocol operating on the Ethereum blockchain. It facilitates the creation of perpetual swap markets for any token pairs. Unlike centralised exchanges, ApeX enables users to maintain control of their private keys, ensuring direct, peer-to-peer trading without intermediaries. The protocol employs an Elastic Automated Market Maker (eAMM) and supports multichain liquidity trading to enhance trade efficiency and liquidity.

ApeX Protocol is primarily used for decentralised derivatives trading. Users can trade various cryptocurrencies with up to 10X leverage in a fully permissionless environment, making it suitable for both mainstream and niche markets. The protocol also supports staking and rewards programs, allowing users to earn APEX tokens. Additionally, ApeX integrates features like multichain liquidity provision, automated trading strategies, and gasless transactions, which aim to improve user experience and reduce costs. It also includes governance functionalities, enabling token holders to participate in decision-making processes.