Skyline Launches Wrapped CAP3X Token on Cardano for Enhanced Interoperability

Skyline, a prominent developer of interoperable blockchain solutions, has announced the launch of the Wrapped CAP3X token on the Cardano network. This initiative is part of a broader strategy to enhance access to utility tokens and enable interoperable decentralized finance (DeFi) applications between Cardano and the Apex Fusion ecosystem. The deployment of the wrapped token, cAP3X, will facilitate interoperability between the two networks, allowing for the seamless transfer of value and cross-chain engagement.

The cAP3X token will be fully compatible with Cardano wallets and DeFi protocols, providing initial liquidity and supporting coordination with Cardano-based decentralized exchanges (DEXs). An ADA/cAP3X trading pair will be established to further integrate the token into the Cardano ecosystem. Following the deployment in July, users will be able to transfer cAP3X from Cardano to PRIME Chain, the UTXO Layer 1 of the Apex Fusion ecosystem, via the Skyline Bridge. This bridge enables the secure transfer of tokens and assets between the two blockchain ecosystems. Once bridged to PRIME, cAP3X will be converted into native AP3X, which can be used across various Apex Fusion protocols.

Once cAP3X has been bridged to PRIME Chain, it will be redeemed 1:1 for native AP3X. The AP3X token on PRIME can be staked in Apex staking pools, where users can earn up to 10% APY rewards via liquid staking mechanisms already live on the network. This initiative is designed to provide a simple and transparent on-ramp for ADA holders to engage with the Apex Fusion network while also introducing AP3X as a viable utility asset within the Cardano ecosystem.

PRIME Chain, which combines Bitcoin’s UTXO security model with Ethereum’s smart contract programmability, provides a foundation for supporting cross-chain applications. It has been designed to address growing web3 fragmentation by integrating existing blockchain networks. Operating as a Layer 1 network, PRIME Chain leverages the Ouroboros consensus mechanism for secure and decentralized staking. Following the deployment of the cAP3X token and liquidity provisioning, bridge activation and staking will be made available on PRIME, enabling users to participate in liquid staking and other DeFi activities on Apex Fusion’s fully interoperable Layer 1, PRIME.

Skyline's initiative to launch the Wrapped CAP3X token on Cardano is a significant step forward in enhancing cross-chain interoperability and expanding the utility of the Apex Fusion ecosystem. By leveraging the strengths of both Cardano and Apex Fusion, Skyline is positioning itself as a leader in the blockchain industry, paving the way for future advancements and collaborations. This move is expected to attract more users and developers to the Apex Fusion ecosystem, as it provides a more flexible and interconnected platform for decentralized applications and services. The launch of the Wrapped CAP3X token is a testament to Skyline's commitment to innovation and its dedication to fostering a more interconnected blockchain landscape.