How Stork facilitated ApeX in achieving ultra-fast 50ms latency and introducing USDT perpetual markets

USDC and USDT Perp Markets
Uptime of Stork Oracle Post-Launch
Maximum Data Latency

About the Company

ApeX is one of the leading decentralized exchanges (DEX) built on StarkWare's layer 2 scalability engine, StarkEx. With a focus on perpetual contracts within the broader decentralized derivatives market, ApeX’s mission is to provide a cutting-edge trading experience with high reliability, cost-efficiency, and performance. With over 40 trading pairs, ApeX traders enjoy cost-efficient gas-less trading with up to 50x leverage, low fees and instant settlement.

"Collaborating with Stork has been a streamlined process, with the team efficiently addressing our requirements regarding new listings. We appreciate their efforts in providing us with decentralized off-chain and on-chain price feed solutions, enabling us to deliver superior trading and liquidity to our traders."

Products Used

Perpetual Future Mark Price Index

Index Price

The problem

Data latency and reliability hinders the core trading experience on DEXs

With a robust order book interface architecture, advanced charting functions, and risk management tools, ApeX has established a trading landscape that is more effective, equitable, and accessible for all traders. By bringing a best-in-class experience to its decentralized perpetual swap trading platform, ApeX is putting its vision for the democratization and inclusivity of advanced financial instruments into practice.

While traditional financial markets are characterized by efficiency, speed, and reliability, these features can be hard for an exchange to offer in a decentralized environment. Bringing these characteristics and user-friendly experiences found in traditional markets to decentralized derivatives trading is a hurdle that DEXs must overcome to achieve widespread adoption.

ApeX knew that lack of access to dependable and low-latency data limited other DEXs’ ability to offer an efficient and user-friendly experience, especially in the case of delivering precise liquidation thresholds and accurate funding rates. Inaccurate or delayed data from oracles could lead to unjust liquidations or misaligned funding rates, in turn impacting traders' decisions and the platform's credibility.

The team at ApeX recognized this problem as a major technical roadblock that was critical to achieving commercial success and driving widespread adoption. Before partnering with Stork, ApeX conducted an extensive review of other oracle solutions. However, these alternatives proved inadequate for ApeX's unique needs. The oracles examined offered price feeds which were often several seconds behind real-time prices. This lag in data was unacceptable for a platform that required up-to-the-second accuracy for effective trading and risk management.

Reliability was another major concern of the oracles Stork considered, as inconsistent data feeds could significantly influence the likelihood of positive trading outcomes. Additionally, other oracle solutions had limited support for new and longtail assets and lacked flexibility in supporting a wide range of markets, limiting ApeX's ability to expand its market offerings.

Accepting these shortcomings would pose threats to not only ApeX’s functional viability, but also its reputation and user trust, both crucial considerations in navigating the competitive market of decentralized finance. Findings from this initial search led ApeX to solidify their decision criteria and seek a more robust and versatile solution, ultimately leading to Stork.

The solution

Stork meets ApeX’s unique needs for rapid, robust price data

ApeX’s partnership with Stork allowed both teams to further their shared mission of advancing standards for reliability and efficiency in the DeFi ecosystem. Stork's exceptional data quality, scalability and decentralized architecture, and seamless integration process equipped ApeX with the quality of data and market support needed to achieve the current leading position it holds in the decentralized trading market.

With its technical requirements satisfied, ApeX launched a perp contracts DEX that set new benchmarks for price accuracy, gave traders access to 40 USDC and USDT trading pairs, and offered a trading environment that fostered user trust and ApeX’s reputation as a leading derivatives DEX in the DeFi space.

ApeX differentiates itself in its risk mitigation capabilities. Powered by Stork’s data feeds, ApeX excels in efficient liquidation management and accurate funding rate calculations, creating a safer platform for traders and fostering an environment of trust and reliability. Stork’s support for long-tail markets with the same speed and reliability of data feeds for larger markets allowed ApeX to offer 50x leverage on long-tail trading pairs, attracting a broader base of traders and platform trading volumes.

Through this partnership, ApeX both enhanced its operational efficiency and market reach while setting a new benchmark for delivering a cutting-edge trading experience. Diving deeper, ApeX’s collaboration with Stork marks the beginning of a new era in trading, where innovation, reliability, and user satisfaction converge to create a market-leading platform.

The results

ApeX and Stork’s partnership drives continuous growth

With 100% uptime and <50ms latency data speeds, Stork empowers ApeX to deliver an unprecedented trading experience. This speed and reliability gives ApeX the ability to optimize liquidation thresholds and set accurate funding rates, fostering trust and confidence among its users.

The 40 USDT and USDC trading pairs that Stork provides data feeds for have established ApeX as a destination and hub for trading markets that aren’t available on other decentralized exchanges.

ApeX built its brand around core value propositions of trading efficiency, data reliability, and support for long-tail assets. Averaging 102% growth in trading volume month-over-month, ApeX has accumulated over $38B in trading volume since its launch back in 2022. This impressive growth is a testament to the fact that Stork's innovative data services can transform trading experiences, increase platform liquidity, mitigate risks, and establish market leadership.