Primex, the protocol for spot margin buying and selling on DEXs, launches its mainnet beta

New York, USA, October nineteenth, 2023, Chainwire

Non-custodial protocol for spot margin buying and selling Primex Finance broadcasts the launch of its long-awaited mainnet Beta. Representing a big milestone for the protocol, the most recent model has been deployed on Polygon’s PoS chain. Consequently, merchants can make the most of the Primex app and entry spot margin buying and selling on the Uniswap, Balancer, Curve, Sushiswap, Quickswap, and Meshswap DEXs.

Connecting Lenders with Merchants, Primex permits Merchants to make the most of Lender liquidity for leveraged spot buying and selling on current DEXs whereas benefiting from CEX-like tooling and interfaces. In trade for supplying belongings to the protocol, Lenders earn curiosity on deposited digital belongings. With Primex, Lenders reap the benefits of excessive lending APYs and the flexibility to diversify their portfolio primarily based on their danger urge for food by way of Credit score Buckets, specialised liquidity swimming pools that join lenders with margin merchants.

The protocol achieves decentralized commerce execution by means of a community of community-hosted Keepers. As a substitute of utilizing centralized order books (CLOB), Keepers are liable for executing all automated trades and liquidating Merchants’ dangerous positions to guard Lender funds. Apart from non-custodial spot margin buying and selling, Primex will allow different leveraged operations throughout numerous DeFi protocols in future variations.

At the side of the mainnet Beta, Primex Finance can be launching its Liquidity Mining Program. This program is important for accumulating early Lender liquidity and buying and selling quantity, and it consists of rewards for bucket launch participation and Early Lenders and Merchants rewards. Contributors within the Liquidity Mining Program will likely be eligible for Early Primex Tokens (ePMX) primarily based on their roles and actions. Sooner or later, holders may have the flexibility to trade the ePMX they’ve earned for totally purposeful Primex Tokens (PMX).

Along with the Liquidity Mining Program, Primex additionally launches an on-chain Referral Program that performs an vital function within the mainnet Beta’s launch. The referrers are eligible for a fee paid from the protocol income for actions generated by the referees, whereas referees will profit from unique NFTs that may be utilized to scale back protocol charges and enhance lender curiosity. The connection between referrers and their referees is saved in a wise contract, guaranteeing each side are rewarded for his or her exercise.

“Devoted months of onerous work have led to the launch of the mainnet Beta, turning a distant aim right into a actuality. Primex’s first mainnet lastly permits undercollateralized, totally decentralized lending for buying and selling functions. Now, with the launch of the mainnet Beta, merchants can make the most of a wealthy characteristic set and interfaces for buying and selling on their favourite DEXs with leverage,” said Dmitry Tolok, Co-founder 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 standard DEXs. Primex gives merchants acquainted CEX-like buying and selling interfaces and instruments to reinforce flexibility for his or her buying and selling methods.

For extra info go to Primex Finance’s:

Contact

CMO
Anton Demenko
Primex Finance
[email protected]