Apyx Opens to the Public and Launches the Apyx Pips Campaign
Intro
On February 26, Apyx’s Pips Campaign begins, marking the official public launch of apxUSD. During the campaign, Pips track and represent how much each user contributes to the Apyx ecosystem over time.
Recap: apxUSD and apyUSD
apxUSD is a synthetic dollar backed by preferred shares issued by Digital Asset Treasuries (DATs), designed to channel high yield, offchain dividend cash flows into onchain dollar liquidity.
apxUSD does not pay yield to holders. Instead, it is intended to serve as the protocol’s primary liquidity layer, providing deep liquidity in secondary markets and broad usability across DeFi and CeFi.
apyUSD is the token representing locked apxUSD. apyUSD accrues yield from dividends paid by the DAT preferred shares backing apxUSD. It is designed as a scalable alternative to traditional stablecoin yield strategies that are often difficult to scale and rely on higher risk to generate returns.
How Pips Campaign Works
The Apyx Pips system is designed to reward participation across the activities that matter most within the Apyx ecosystem, including both on-app usage and DeFi liquidity engagement. Points are earned through qualifying actions such as holding, locking, committing assets, providing liquidity, or trading yield-based tokenized products.
Each Epoch may apply Points multipliers to specific actions, depending on what that Epoch is focused on.
Duration:
We do not intend to run a long, drawn-out points program. Season 1 will end when either 12 weeks have elapsed or the apxUSD supply reaches $1 billion, whichever happens first.
Notice:
Season 1, Epoch 1 is focused on providing liquidity to Curve’s apxUSD pools. After that, future Epochs will be designed around other core activities within the ecosystem.
These incentives are intentionally designed for long-term participants and genuine users of the protocol, not for people looking for a short-term airdrop with a quick exit. If that is your goal, you will be disappointed. Through the Pips campaign, we aim to encourage meaningful participation across the most important parts of Apyx and align with users who are committed to supporting Apyx’s long-term success.
Participation is restricted in certain jurisdictions, including the United States, the European Union, the European Economic Area, and any sanctioned jurisdiction. Users in those jurisdictions will not be able to access the relevant parts of the Apyx web application, including the dApp interface.
Season 1, Epoch 1: Curve LP (apxUSD/USDC)
Epoch 1 focuses on users who provide liquidity to the Curve apxUSD/USDC pool.
Users who provide liquidity to this pool can then commit their Curve LP tokens through the Apyx frontend. Once committed, users earn multipliers based on the locked value of their LP tokens.
Multipliers
- apxUSD/USDC pool: 12x multiplier
Pool cap
- apxUSD/USDC pool: $50 million cap
Once the pool cap is filled, Apyx plans to open a feature in the dApp that allows users to commit apxUSD. In that case, committed apxUSD earns a 10x multiplier.
Simply providing liquidity does not earn Points. LP tokens must be committed to be eligible.
For assets held outside the LP pools, apxUSD that is not committed earns a 5x multiplier, while apyUSD (which represents locked apxUSD) earns a 1x multiplier.
If you lock or commit tokens, a cooldown applies when you withdraw (unlock or uncommit), and no Points are earned during that cooldown period. apyUSD: 30 days, commited apxUSD: 30 days, and commited Curve LP tokens: 30 days.
Referrals
Referrers earn an additional 5% of the Points earned by referred users. Referral rewards are capped at 100% of the referrer’s own Points, and no additional bonus is granted for using a referral link.
Steps for Epoch 1
- Visit the Apyx landing page (Join the app using a referral link)
- Connect your wallet
- Go to 'Swap' tab and buy apxUSD
- Go to 'Rewards' tab and select a pool to LP
- Provide liquidity on Curve in the apxUSD/USDC pool to receive LP tokens
- Return to the 'Rewards' tab and commit your LP tokens
- Earn Points
For additional updates, be sure to follow us on Twitter, and join our Discord and Telegram to learn how to participate in the campaign, earn Pips, and stay updated on new epoch announcements.