APEX Network and Red Pulse Phoenix to Merge and Develop Horizon DeFi Platform
The merger has been said to create a larger, more powerful infrastructure and ecosystem, effectively leveraging the best resources both companies have to offer (technology, platforms, token economics, liquidity, human talent, investor base, and marketing). This is the first notable instance of a token merger, in which a few cases were mentioned in the past but did not seem to be successfully executed.
The combined entity will become Phoenix Global, and APEX Network token holders will be granted Phoenix tokens at a ratio calculated based on moving average price, with the swap already executed as of early November, with the merged token Phoenix Global trading on major exchanges such as Binance.
A spokesperson from the merged project noted that now the combined Phoenix Global community will have a reach of over 60,000 individuals through social media and over 100,000 through mailing list subscriptions. Additional Phoenix Global has announced a new Defi platform called Horizon, an on-chain DeFi platform for the exposure to real-world assets.
Phoenix Horizon is a unique, differentiated DeFi platform focused on the real economy and enterprise ecosystem, and will enable crypto-users to participate in an array of DeFi use cases outside of the traditional DeFi scenarios, at the same time reaping rewards for contribution to use cases that provide real-world value. At the core of the Horizon platform will be a synthetic assets platform that will make a variety of financial instruments, economic indices, intangible assets, and data to be able to be traded on-chain. It’s noted that Horizon will have a close working relationship and tie the platform in with the Binance ecosystem and Binance Smart Chain (BSC).
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