The APIS is a masternode platform that enables the entire spectrum of users to have easy access to a two-tier incentivized network, also known as the “Masternode Network”. Masternodes refer to nodes in the cryptocurrency market that fulfill a specific function beyond simply relaying transactions.
A masternode’s most distinctive feature is that anyone running a masternode can get masternoding rewards periodically by locking up their cryptocurrency in the masternode. However, despite its attractive characteristic, hosting a masternode is quite out of reach for most individuals as masternodes require substantial capital and intricate software engineering to set up. By aiding these individuals and bringing them together to form a masternode, APIS aims to encourage more people to participate in masternoding as well as provide them with a much safer masternoding channel rather than deep diving into technical undertakings without sufficient experience.
$APIS is the primary token of APIS platform issued on both Ethereum and APIS Mainnet, which allows users to access the blockchain products on the APIS platform. However, the $APIS on Ethereum now is suspended, and has been converted to $APIX, while $APIS on APIS Mainnet remains the same. And the token on the two chains are exchangeable. Besides, only users own $APIS on APIS mainnet are allowed to run their own APIS Mainnet Masternodes and PoS Mining Nodes and get block rewards.