Skyline announces wrapped cAP3X token launch on Cardano
Blockchain developer Skyline has announced plans to deploy cAP3X, a wrapped AP3X token, on the Cardano blockchain, according to the information shared with Finbold on July 10. The launch, developed in...
Blockchain developer Skyline has announced plans to deploy cAP3X, a wrapped AP3X token, on the Cardano blockchain, according to the information shared with Finbold on July 10.
The launch, developed in collaboration with the Apex Fusion Foundation, will create a Cardano-native asset that provides access to the Apex Fusion ecosystem.
The wrapped utility token will operate natively on Cardano (ADA), enabling interoperability between the Cardano and Apex Fusion networks. Users will be able to engage in cross-chain value transfers between the two blockchain ecosystems.
Token integration and trading
The cAP3X token will be compatible with Cardano wallets and DeFi protocols, with plans to establish an ADA/cAP3X trading pair and provide initial liquidity for Cardano-based decentralized exchanges.
After deployment in July, users can transfer cAP3X from Cardano to PRIME Chain, Apex Fusion’s UTXO Layer 1 blockchain, using the Skyline Bridge. Once bridged to PRIME, cAP3X converts to native AP3X at a 1:1 ratio for use across Apex Fusion protocols.
Staking rewards
The native AP3X tokens on PRIME Chain can be staked in Apex staking pools, offering up to 10% APY rewards through liquid staking mechanisms currently active on the network.
PRIME Chain combines Bitcoin’s UTXO security model with Ethereum’s (ETH) smart contract functionality, utilizing the Ouroboros consensus mechanism for staking operations. The network aims to address blockchain fragmentation by integrating existing networks.
Following the token deployment and liquidity setup, bridge activation and staking features will become available on PRIME Chain. Technical documentation and integration guides will be released prior to the wrapped token launch to support developers and users.
Featured image via Shutterstock.
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