Apex will launch a buyback program next week with an initial investment of $12 million.

According to ChainCatcher, Apex has officially announced the launch of a token buyback program, allocating a one-time investment of $12 million from previous revenues for the buyback.

The buyback will begin next week. In addition to the initial $12 million, 50% of ApeX protocol's daily revenue will subsequently be used to repurchase APEX tokens from the open market. Over time, the proportion of revenue used for buybacks will gradually increase, up to a maximum of 90% of total revenue. All repurchased tokens will be transferred and locked in an on-chain public address.