Add a ApeCoin Perpetual market
This proposal is a request to create an APEPERP market, a futures synth market which tracks the price of APECOIN
$APE is a meme coin released by Yuga Labs and airdropped to all BAYC (bored ape yaght club) and MAYC (mutant ape yacht club) NFT holders. Given the massive popularity of BAYC in the retail world, APE was listed on every major exchange before it was even released. The only other token to be listed as quickly as APE on every major exchange was the UNI token when it was released in September 2020.
One of the key advantages of Synthetix as an exchange is the ability to create a tradable market for any token which meets the basic liquidity criteria to be a synth. Apecoin, currently one of the hottest new tokens, is not offered on any DeFi derivatives platform. Synthetix has the opportunity to attract an enormous amount of volume through an sAPE perpetual market given that it's so new and APE futures are limited to Centralized Exchanges currently. Creating an APEPERP is one of those rare instances where not only will Synthetix attract a ton of trading volume from it's market, but will also benefit from the marketing exposure of the hottest newest memecoin.
The following is the market depth and trading volume for APECOIN:
|Exchange||Pair||Price||Spread||+2% Depth||-2% Depth||24h Volume||Volume%|
request Chainlink price feed for APE/USD
Open Interest caps for Perpetuals
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