Skyline, a blockchain development company focused on interoperability, will launch a wrapped token cAP3X on the Cardano blockchain. The token is created in partnership with Apex Fusion Foundation, which connects different blockchain types to support asset transfers and application development.
The cAP3X token will work as a wrapped version of AP3X and will be used to connect the Cardano and Apex Fusion networks. It will be compatible with Cardano wallets and DeFi platforms. A trading pair between ADA and cAP3X will also be introduced to support token exchange.
Starting in July, users will be able to move cAP3X from Cardano to PRIME Chain, the Layer-1 network of Apex Fusion, using the Skyline Bridge. Once transferred, cAP3X will be exchanged at a 1:1 ratio for native AP3X tokens. These can be used in Apex Fusion protocols, including staking features that offer up to 10% annual rewards.
The goal of the project is to improve access to utility tokens and support DeFi activity across both networks. This also allows Cardano users to connect with Apex Fusion without leaving their ecosystem.
Following the cAP3X launch and liquidity setup, users will be able to stake and transfer assets across networks. Technical resources will be provided for developers ahead of the rollout.
Image: Freepik
