ApolloX Protocol

ApolloX Protocol

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Created using Figma

Last Update

Sep 6, 2018

ApolloX protocol is the standard for empowering a new generation of decentralized global e-commerce. ApolloX enables building decentralized e-commerce applications and services on blockchain. ApolloX uses tokenization and decentralization to replace today’s rent-seeking enterprise with a new model of complete shopping protection, data security and minimal commission.
Pre Sale
Sep 1, 2018
Sep 21, 2018
100% completed
$2 000 000
cap
goal
100% cap completed
Goal 2 000 000 USD
Cap 2 000 000 USD
past
Angel Round
May 1, 2018
Jul 1, 2018
100% completed
$2 000 000
cap
goal
100% cap completed
Goal 2 000 000 USD
Cap 2 000 000 USD
past
Token Details
Ticker
APXT
Additional Details
MVP/Prototype
Yes
Platform
Ethereum/Cosmos
Whitelist
Yes , from Aug 12, 2018 till Oct 1, 2018
KYC
Yes

About ApolloX Protocol

  • Mission and Vision

The rise of the ecommerce industry in the last 2 decades has led to the emergence of giant online shopping companies such as Amazon, eBay and Alibaba. However, the centralized nature of this industry has created issues of unfair pricing, hidden costs, data abuse and more.The problems that the e-commerce industry is facing are based on their centralized model.

ApolloX solves the above problems with a blockchain-based protocol that empowers decentralization in the e-commerce industry. ApolloX is to disrupt today’s e-commerce marketplace industry and provide everyone all the benefits of trading through a marketplace like Amazon without the unnecessary costs that come from monopolistic intermediaries.

ApolloX uses tokenization and decentralization to replace today’s rent-seeking enterprise with a new model of complete shopping protection, data security and minimal commission. ApolloX believes that with the implementation of their model, ecommerce costs can be reduced by up to 40%. Their goal also is to create an ecosystem that thrives on community. 

  • ApolloX Solution - Decentralized Trust

Instead of relying on an entire company to maintain trust between buyers and sellers, the execution and utilization of ApolloX protocols means trust will be provided by community consensus.F or example, if a buyer runs into problems with a fraudulent seller, they know their case will be reviewed by a group of their peers. Their centralized equivalent would profit from the success of the transaction, regardless of the damage done to the buyer.

  • ApolloX Solution - Lower Prices

With the current ecommerce model, we pay up to 5 times the amount an item costs to manufacture for convenience. Every link in the supply chain is taking a profit. By implementing blockchain technology to the platform, we’re closer to conducting business peer-to-peer. The ApolloX team anticipates a reduction of 40% for consumers by eliminating middlemen with the blockchain.

  • ApolloX Solution - Data Control

Inherent in blockchain technology is the ability to encrypt sensitive information and store it on an immutable ledger. If the information needs to be accessed, a user is able to do so with their private key. ApolloX only allows buyers to access their browsing and purchasing activity. Buyers can even choose not to leave any activity history. By having access to this valuable information, users can voluntarily share their data with service providers on the network to earn rebates or personalized services.

  • The Team

ApolloX founding team are from top university and companies including MIT, Stanford, Tsinghua, and Google. ApolloX is also backed by reputable ventures in both US and China: Amino Capital, Redmoon Capital, and Hofan Capital.

ApolloX team has successful track record in building e-commerce marketplace. They founded ApolloBox in 2016 and now has 1 million active users, over 800 global brands, and $15 million annual run rate. 

  • The Progress

Over 100 global brands and online shops have become members of the ApolloX decentralized marketplace within 2 months since the announcement of the ApolloX platform. Many brands and seller communities positively responded to the new blockchain based marketplace model that ApolloX is building. Based off these reviews, the ApolloX team aims to partner with 1000 stores before the platform’s official launch.

ApolloX will launch with 1 million users and 15 million annual revenue thanks to its strategic partner ApolloBox, a fast growing vertical marketplace in the US. ApolloX users will be able to use both APXT(ApolloX’s native token)  and fiat currency to make purchases from ApolloBox and earn rewards.

Features

ApolloX Protocol is a set of built-in functionalities for all essential e-commerce transactions and community developers are encouraged to build more features set on top of the system.

  • Attribution Protocol

ApolloX’s attribution protocol allows shops to keep existing traffic channels with better transparency and lower costs. It also enables token based incentive for community driven traffic so shops can enjoy lower customer acquisition cost while customers can earn extra money from recommending products to their friends. 

  • Payment Protocol

ApolloX Payment Protocol handles the end-to-end payment escrow process between buyers and sellers. It also supports third party insurance and the transformation between fiat currency and cryptocurrency on ApolloX platform. ApolloX Payment Protocol can prevent  majority of online shopping scams with the help of distributed ledger and smart contracts.

  • Arbitration Protocol

ApolloX Arbitration Protocol solves post-purchase dispute and complaint settlement by employing the popular Deposit-Challenge-Vote mechanic in every dispute handling to ensure transparency and independence. When two members , usually a buyer and a seller, within the community cannot reach agreement on a case by themselves, either one of them can open a case by depositing a smaller amount of ApolloX tokens. The opposite party is required to deposit the same amount of ApolloX for this case and provide their reasoning.

  • Reputation Protocol 

Customers rely heavily on the reviews and ratings of products and sellers on a marketplace to make decisions on their shopping choices. Therefore it is important to prevent people from manipulating the review system and encourage genuine reviews from verified buyers. To accomplish this, ApolloX Reputation Protocol is created to reward authentic reviews and penalize fraudulent reviews.

  • Oracle and Data Protocol

As a platform for e-commerce business, we rely on certain outside informations to keep the system running, such as logistics data and advertising data. This information will be provided to smart contracts as trusted data through the ApolloX Oracle Protocol.

Technical Info

  • High Efficient Blockchain for Real-world applications

ApolloX is built with Tendermint-BFT and can  integration with Cosmos and enable features like distributed exchange and bridging for other cryptocurrencies. We choose Tendermint as our top candidate for the following reasons. First,  High performance over thousands of transactions per second.Second,.Proof-of-Stake based consensus mechanisms that is efficient. Third, Independent governance mechanism allowing quicker and cleaner resolutions to operations issues.

  • Large Data Storage

E-commerce applications usually generate large amounts of data in daily operation. It will be a great waste of resources if all that data was required to be stored on a blockchain. Thus in our design, we store certain non-core data off the chain and into a distributed database, such as Cassandra or decentralized data storage system such as IPFS.

  • Privacy Data Storage

Data stored on a blockchain is readable to every node of the blockchain, yet much information in an e-commerce application requires privacy protection, such as the buyer’s name and address. ApolloX handles the privacy data by encrypting them before storing them with the related parties’ public keys. For example, by default only the buyer and the seller have access to an order’s details,  and our system will encrypt the order data with the buyer’s key and seller’s key. After encryption, no one can read the order’s data without authorization from the buyer or seller.

ApolloX Protocol Roadmap

  • Nov 2017

  • ApolloBox passed $1M monthly sales.
  • Dec 2017

  • ApolloX Foundation founded for exploring blockchain technology for e-commerce
  • April 2018

  • ApolloX releases whitepaper
  • May 2018

  • ApolloX Token integrated with ApolloBox app
  • Read More
  • Oct 2018

  • ApolloX front-end system beta version release
  • Dec 2018

  • ApolloX alpha version running on distributed nodes
  • April 2019

  • ApolloX decentralized marketplace starts test operation
  • Q3 2019

  • ApolloBox migrates all operation onto ApolloX Infrastructure
  • 2020

  • ApolloX becomes a fully decentralized service

Activity

Status:
Newbie Copper Member
VERY LOW
Activity:
168
MEDIUM
Merit:
0
VERY LOW
Posts:
609
HIGH
Views:
2 687
LOW
Posts:
101
MEDIUM
Followers:
871
LOW
Likes:
868
LOW
Rating:
5
VERY HIGH
Reviews:
3
VERY LOW
Followers:
3 767
MEDIUM
Tweets:
186
MEDIUM
Members:
29 862
VERY HIGH
Alexa
Rank:
875 815
LOW
Delta:
0

Team

Verified 100%

Co-founder & Technology Lead
verified
Co-founder & Product Lead
verified
Marketing Lead
verified
Cryptography Researcher
verified

3 ICOs

$4 700 000

Marketing & Community Manager
verified
PR Specialist
verified
Logistics Specialist
verified

Advisors

Verified 80%

Attention. There is a risk that unverified members are not actually members of the team

10 ICOs

$7 415 286

Advisor
verified
Advisor
verified
Advisor
verified
Advisor
verified

Former members

Bowen Liu
Full-Stack Engineer
Jun Wu
Advisor
Felix Li
Advisor

ApolloX Protocol Interviews

Will Li
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Founder, CEO
Claire Zhou
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I am the co-founder of ApolloX. Decentralization provides a new opportunity to grow ecommerce to the next level. Blockchain and the community behind it will make it happen.
Dr. Shannon Ma
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I am the marketing lead for ApolloX. Decentralized marketplace is the future of eCommerce and ApolloX is spearheading the revolution.
Kyle White
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
A product-focused team, ready to make a splash in crypto!
Jannelle Garcia
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
My role is to spread the mission of ApolloX to major publications, crypto publications and crypto influencers.
Arianne Paulino
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Logistics Specialist

Last News

4.55
positive
5.0 15
ICO Profile Vision Activity Potential Product Team

ApolloX Protocol Reviews

Samson Owiti
Cryptotrader, Crypto investor, Blockchain business expert

APOLLOX

ApolloX is the first blockchain solution for e-commerce with a huge number of present customers and mainstream adoption. It operates on the rules formed by the community; all related data is kept in the blockchain and as such no single customer can alter them without all other parties knowing. In the event of a dispute, the platform’s arbitration process takes charge ensuring there are fairness and transparency.

PROS

  1. ApolloX centered on blockchain and as such eliminates the unnecessary intermediaries and facilitate more peer-to-peer transactions. This results in a product price reduction of up to 40 percent.
  2. It provides mutual protection to both online buyers and sellers. This is because the trust is provided by the entire community’s consensus through the execution of the platform protocol.
  3. All shopping data on the platform is permission enabled and privacy protected. All sensitive data are encrypted prior to appending blocks to the ledger.
  4. Being a decentralized e-commerce platform, ApolloX is made up of a large number of users (both sellers and buyers) spontaneously working for the improvement of the entire platform.
  5. The platform, through tokenization, connects together people with common interests and similar economic benefits leading to the creation of a community with higher user viscosity.
  6. The Whitepaper presents the concept in a clear and concise manner. It also balances various delivery methods like graphs, images, and charts.
  7. The team; the platform has a large number of proficient team members drawn from different digital currency and business fields.

CONS

  1. The Whitepaper is available in English only and has minimal color variation. Even the charts and graphs are only in different shades of black.
  2. There is a potential backlash from the current prominent e-commerce service providers.

SUGGESTIONS

  1. Team members should translate the white paper into many other languages and use different colors to break the boredom.
  2. The platform should find ways of partnering with existing giant market players to avoid possible criticism and libel.

NOTE:

ApolloX is a brilliant idea that is bound to gain traction. The present e-commerce actors exploit both the sellers and buyers and users will gladly adopt this platform. I will be among the first people to invest in this platform.

Read More
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