New York - November 18, 2022 - Multi-chain permissionless trading network ApeX Protocol today announced its partnership with Stork, a specialized low-latency oracle that provides off and on-chain price feeds for decentralized applications (dApps).
The partnership includes the development of a brand new and ultra-fast price feed that was designed to more accurately present market conditions for assets on ApeX Pro, the non-custodial order book-based derivatives decentralized exchange (DEX) built on ApeX Protocol.
Created by Stork for ApeX Pro, traders can catch trading opportunities at every second with minimal risks when they utilize the price feed. It features a custom asset — mark price — instead of the standard latest price at which a contract is trading at real-time.
The Need for an Enhanced Price Feed
Ensuring swift and accurate price data is paramount for every trader as the difference of a millisecond in price reporting could make or break a profitable trade. In the nascent decentralized finance (DeFi) arena, the adoption of existing DEXs has been much slower than expected even with the promises of decentralized transparency and security. There is no doubt that challenges such as limited asset data availability at high costs and lagging price updates have been significant deterring factors for traders.
With Stork’s low-latency, decentralized off and on-chain hybrid price feed designed for EVM and STARK compatible chains, ApeX Pro has unlocked price data availability down to a fraction of a second for its traders so they can prioritize trading performance and portfolio strategies to their fullest.
Price Feed Based On Mark Price
In a first for both Stork and ApeX Pro, this newly created custom price feed utilizes mark price, which assigns a “smoother”, fair market value to a contract than what is determined by the spot price of the contract or underlying asset.
The newly created Stork mark price is a volume-weighted average of the mark price from a number of leading exchanges including Binance, Bybit, FTX, and OKX.
This allows ApeX Pro to ensure a superior trading experience for traders and liquidity providers, and also lower trading risks caused by insufficient response time to market volatility, including unnecessary forced liquidations and market manipulation.
Trusted Data Aggregation & Verification
ApeX Pro is powered by StarkWare’s Layer 2 scalability engine StarkEx as it utilizes STARK-proofs to safely validate transactions on Ethereum and any EVM-compatible chains. Stork’s price feed will boost ApeX Pro’s full spectrum multi-chain support on the price data end, providing an off-chain market data pool where updated prices for all digital assets are provided by trusted publishers.
Decentralized Trades Boosted at Hyperspeeds
Since its inception, ApeX Protocol has consistently built improvements to the DEX trading experience. Guaranteeing price accuracy that traders can trust is therefore critical in the ApeX Pro journey. Traders will stay consistently at the forefront of price changes at the lowest costs and highest frequency of 50 milliseconds, under Stork’s multi-layered price publishing verification both off and on-chain.
ApeX Protocol continues to strive in offering low-cost decentralized derivatives trades to its users, prioritizing in-depth liquidity, appreciable market depth and high transaction speeds typically associated with centralized exchanges. All these bolstered by the secure and transparent trading architecture provided by a DEX, on ApeX Pro.
About ApeX Pro
ApeX Pro is a non-custodial trading platform built on the ApeX Protocol, that delivers limitless cross-margined perpetual contracts to its metacommunity under a new social trading framework. Next, it aims to reshape the way trading in DeFi works by introducing a social, community focus, where trades made together are better.
Stork is a reference price oracle for decentralized exchanges. Stork combines the milisecond-level performance of traditional data feeds with the verifiability of decentralized on-chain oracles to ensure more up-to-date prices and higher leverage. Stork is available on StarkNet, StarkEx, Arbitrum, Avalanche, and MOVE-compatible chains.
Non-custodial derivatives DEX ApeX Pro has partnered with oracle provider Stork, bringing its traders lightning-quick price updates at an impressive frequency of 50 milliseconds, all at the lowest costs possible.
Instead of featuring the last price, ApeX Pro’s price feed is based on a newly created custom asset — mark price, which follows the true value of a contract more closely than the last price standard does. ApeX Pro is thus able to offer superior trading and liquidity to its users, and also lower trading risks as a result of market volatility and unnecessary forced liquidations.
Prices are aggregated and pulled off a decentralized publishers network, then verified on and off-chain with Stork's hybrid oracle architecture, ensuring that all price data for any available assets on ApeX Pro accurately update as soon as changes occur.
Now, ApeX Pro traders can catch every trading opportunity to maximize their gains, adjust their investment strategy and focus on enhancing their trading performance with this new integration.