In today’s ever-evolving crypto landscape, staying competitive requires businesses to be agile and innovative. One way to achieve this is by streamlining product development processes, thus bringing products to market faster, reducing costs, and increasing overall efficiency.This case study looks at how Palmswap achieved this with the Palmswap Hybrid Exchange, powered by ApolloX DEX Engine.<h2 id="header-0">Meeting rising demand for Palmswap services</h2><a href="https://palmswap.org/" rel="noopener noreferrer nofollow">Palmswap</a> is a decentralized trading platform built on the BNB Chain. It aims to provide an ecosystem of DeFi products with a main focus on its perpetual futures exchange.To meet the needs of both retail and institutional-grade traders, Palmswap identified the need for two protocols: A 100% on-chain perpetuals decentralized exchange (DEX) utilizing a VAMM model, and a hybrid infrastructure model utilizing an order book.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/df99249fc3e34d228d9d357760ff9f16.png" />Palmswap on-chain exchangePalmswap had planned to fully develop both protocols and launch the Palmswap Hybrid Exchange after launching its on-chain DEX. However, the development of the on-chain DEX came with challenges.Bernd Stöckl, Co-Founder of Palmswap, said, “We were working on problems that occurred on-chain, such as offering leverage trading, liquidations on time, flash crash security barriers, securities to prevent price manipulation.”The team needed time to build the best on-chain trading product. Meanwhile, Palmswap was steadily catching the interest of its community. To avoid losing momentum with users while still meeting rising user demand for Palmswap trading, Palmswap partnered ApolloX DEX Engine to launch its hybrid infrastructure model at a significantly earlier date.<h2 id="header-1">Launching the Palmswap Hybrid Exchange</h2>“ApolloX DEX Engine enabled us to quickly offer a hybrid DEX solution to our customers,” said Bernd.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/76f4e57a60b347778183a6dac129980b.png" />Palmswap Hybrid Exchange, powered by ApolloX DEX EngineThe <a href="https://www.apollox.finance/en/broker" rel="noopener noreferrer nofollow">ApolloX DEX Engine</a> is a trading solution for any business looking to launch its own derivatives DEX. In less than a week, Palmswap onboarded DEX Engine and responded to market demands by launching the Palmswap Hybrid Exchange.As a ready-to-go solution, DEX Engine helped Palmswap reduce their time to market by leveraging ApolloX DEX’s order book, matching engine, perpetual trading pairs and order types. Its customizable, user-friendly trading interface also helped Palmswap build on its brand.“We and our users like the fact that there are many markets to trade,” shared Bernd when asked about the most-liked feature on the Palmswap Hybrid Exchange. There are currently over 65 perpetual contracts on the exchange.<h2 id="header-2">Checking off milestones as a growth-focused business</h2>As the ApolloX DEX Engine is free to onboard, DEX Engine was a cost-effective solution for Palmswap, who could continue dedicating its resources to the on-chain DEX. That’s not all. Palmswap also shares trading fees collected on the Palmswap Hybrid Exchange with ApolloX. This opened a new revenue stream for the project.The majority of fees collected are used to <a href="https://blog.palmswap.org/further-development-of-the-buyback-and-burn-strategy" rel="noopener noreferrer nofollow">buy back and burn PALM</a>, Palmswap’s native token, to permanently remove them from the total supply. This helps to stabilize and support the token for a longer period of time while helping to effectively engage PALM holders, benefiting Palmswap.Since the launch of the Palmswap Hybrid Exchange, Palmswap has achieved several milestones for its on-chain DEX:<ul><li><a href="https://blog.palmswap.org/product-update-and-milestones" rel="noopener noreferrer nofollow">3 working testnets</a> running in perpetuity</li><li>Developed robust developer tools to maintain and test the exchange</li><li>In the final testing phase before Alpha Mainnet launch</li></ul>All in all, the ApolloX DEX Engine is a powerful tool that helped Palmswap streamline its product development process. The Palmswap Hybrid Exchange helped to expand Palmswap’s offerings, increase their revenue, and strengthen their brand.Bernd concluded: “We had the time to look for solutions for our on-chain DEX because we didn&#39;t have to worry about the hybrid exchange through ApolloX DEX Engine.”Join Palmswap and 30 other ApolloX DEX Engine partners in launching your own perpetuals DEX!<h2 id="header-3">Set up your DEX in a few days</h2>Whether your business wants to expand into the derivatives market, cater to both beginner and pro traders in your user base, or even add more use cases to your native token (ask us about this!); ApolloX DEX Engine promises a fuss-free, ready-to-deploy experience. Furthermore, you can expect marketing and customer support from ApolloX to ensure a smooth onboarding.<h3 id="strong-3-simple-steps-strong">3 Simple Steps</h3>1. Fill in the <a href="https://docs.google.com/forms/d/e/1FAIpQLSdoPdHeK5RjEEQP1FpoyBXR6A072ReqoMFsAN77bA9wbHqyMw/viewform" rel="noopener noreferrer nofollow">application form</a> and submitOur dedicated support team will review each submitted application with care. Successful applicants will be guided to proceed to the next step.2. Create your own domain nameBefore you start, help your users easily identify you by creating your branded domain name.3. Download our proprietary SDK and customize it according to your preferencesCustomize the ApolloX DEX Engine SDK to better cater to your business needs. After mandatory testing, prepare for launch.

Case Study: How ApolloX DEX Engine helped Palmswap streamline its product development process

Table of Contents

APX

Other articles published on Feb 20, 2023

Binance Unveils Fan Club Program with Exclusive Team Rewards for Users

ICON hits 20K followers here on CoinMarketCap Community!

Why Giving is the New Green?

ThunderCore Celebrates 4th Anniversary of Building a Better Web3 Ecosystem

Announcing The Minting of gCOTI, COTI’s Treasury Governance Token!

Our Unique Developments

Join our free newsletter for daily crypto updates!