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New York, April 8, 2024 — Primex Finance, a non-custodial protocol for margin buying and selling on decentralized exchanges, pronounces the launch of a brand new points-based neighborhood rewards initiative in partnership with CoinList.
The aim of the Contribute and Earn Rewards Marketing campaign is to incentivize consumer engagement, in addition to to spice up lending and buying and selling exercise throughout the Primex ecosystem. Concurrently, this system offers a wonderful alternative for lively customers to build up factors and declare the highest positions on the bi-weekly snapshot. By allocating 2% of the full Primex Token (PMX) provide to the initiative, Primex will distribute Early Primex Token (ePMX) rewards to the best-performing members.
As a part of the Contribute and Earn Rewards Marketing campaign, Primex leverages CoinList’s established platform and its neighborhood to foster ecosystem exercise and onboard new lenders and merchants to the protocol. Ranging from April 8, 2024, this system will final for 12 weeks and can unfold in six totally different levels. Every stage might be dwell for 2 weeks, throughout which members will be capable of acquire factors proportional to their on-chain lending and buying and selling actions on Primex.
On the finish of every stage, a snapshot of contestants’ factors and on-chain actions might be taken to distribute ePMX rewards to the highest 200 members of the spherical. Because the early, non-transferable model of the native PMX token, ePMX will ultimately get replaced by the totally practical PMX following the protocol’s Token Technology Occasion later this yr.
Consequently, holders will be capable of change their accrued ePMX for PMX.
Factors are mechanically reset after every spherical to make sure the equity of the competitors, offering each present members and newcomers with equal alternatives in subsequent rounds.
To enter the competitors, members should full the Primex Onboarding Quest to allow them to develop into acquainted with the non-custodial spot margin buying and selling protocol. As soon as becoming a member of, contestants can begin gathering factors by fulfilling this system’s standards associated to Merchants and Lenders, in addition to reaching numerous milestones. These particulars will be discovered within the Contribute and Earn Rewards Marketing campaign article on the Primex weblog. Contributors can monitor their efficiency for Lender and Dealer actions on the Achievements Web page.
“The Contribute and Earn Rewards Marketing campaign gives Primex customers a singular alternative to discover ways to use the protocol whereas incomes factors to climb the Leaderboard rankings. Moreover, the 200 most lively members might be eligible for ePMX rewards, which will be exchanged for totally practical PMX tokens in a while,” stated Dmitry Tolok, Co-Founding father of Primex.
About Primex Finance
Based in 2021, Primex Finance is a decentralized protocol for spot margin buying and selling on DEXs. It connects lenders with merchants, enabling merchants to make the most of lender liquidity for leveraged buying and selling on common DEXs. Primex gives merchants acquainted CEX-like buying and selling interfaces and instruments to boost flexibility for his or her buying and selling methods. Primex is aiming to broaden the variety of use circumstances for leverage in its v2, which is ready for launch in mid-2024. With Primex v2, customers could have entry to new alternatives, together with leveraged liquidity provisioning on DEXs, leveraged liquid staking, and an growth of supported asset sorts past fungible tokens.
Contact data
CMO
Anton Demenko
Primex Finance
[email protected]
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