Primex Finance

Discord

Spot

New York, USA, October 19th, 2023, Chainwire
Non-custodial protocol for spot margin trading <a href="https://xyzl.ink/lhmbko" rel="noopener noreferrer nofollow" target="_blank">Primex Finance</a> announces the launch of its long-awaited mainnet Beta. Representing a significant milestone for the protocol, the latest version has been deployed on Polygon’s PoS chain. Consequently, traders can <a href="https://xyzl.ink/wgtwqn" rel="noopener noreferrer nofollow" target="_blank">utilize the Primex app</a> and access spot margin trading on the Uniswap, Balancer, Curve, Sushiswap, Quickswap, and Meshswap DEXs.&nbsp;
Connecting Lenders with Traders, Primex enables Traders to utilize Lender liquidity for leveraged spot trading on existing DEXs while benefiting from CEX-like tooling and interfaces. In exchange for supplying assets to the protocol, Lenders earn interest on deposited digital assets. With Primex, Lenders take advantage of high lending APYs and the ability to diversify their portfolio based on their risk appetite via Credit Buckets, specialized liquidity pools that connect lenders with margin traders.
The protocol achieves decentralized trade execution through a network of community-hosted Keepers. Instead of using centralized order books (CLOB), Keepers are responsible for executing all automated trades and liquidating Traders’ risky positions to protect Lender funds. Besides non-custodial spot margin trading, Primex will enable other leveraged operations across various DeFi protocols in future versions.
In conjunction with the mainnet Beta, Primex Finance is also launching its Liquidity Mining Program. This program is essential for accumulating early Lender liquidity and trading volume, and it consists of rewards for bucket launch participation and Early Lenders and Traders rewards. Participants in the Liquidity Mining Program will be eligible for Early Primex Tokens (ePMX) based on their roles and activities. In the future, holders will have the ability to exchange the ePMX they have earned for fully functional Primex Tokens (PMX).
In addition to the Liquidity Mining Program, Primex also launches an on-chain <a href="https://xyzl.ink/ntbhmmp" rel="noopener noreferrer nofollow" target="_blank">Referral Program</a> that plays an important role in the mainnet Beta’s launch. The referrers are eligible for a commission paid from the protocol revenue for activities generated by the referees, while referees will benefit from exclusive NFTs that can be utilized to reduce protocol fees and increase lender interest. The connection between referrers and their referees is stored in a smart contract, ensuring both sides are rewarded for their activity.
<blockquote>
 “Dedicated months of hard work have led to the launch of the mainnet Beta, turning a distant goal into a reality. Primex’s first mainnet finally enables undercollateralized, fully decentralized lending for trading purposes. Now, with the launch of the mainnet Beta, traders can utilize a rich feature set and interfaces for trading on their favorite DEXs with leverage,” stated Dmitry Tolok, Co-founder of Primex.
</blockquote>
About Primex Finance
Founded in 2021, <a href="https://xyzl.ink/lhmbko" rel="noopener noreferrer nofollow" target="_blank">Primex Finance</a> is a decentralized protocol for spot margin trading on DEXs. It connects lenders with traders, enabling traders to utilize lender liquidity for leveraged trading on popular DEXs. Primex offers traders familiar CEX-like trading interfaces and tools to enhance flexibility for their trading strategies.
For more information visit Primex Finance’s: <a href="https://primex.finance/?utm_campaign=dsxmrlna&amp;utm_id=lhmbko&amp;utm_source=chainwire&amp;utm_medium=wire&amp;utm_term=mainnetbetapolygon" rel="noopener noreferrer nofollow" target="_blank">Official Website</a> | <a href="https://twitter.com/primex_official" rel="noopener noreferrer nofollow" target="_blank">Twitter</a> | <a href="https://discord.com/invite/primexfinance" rel="noopener noreferrer nofollow" target="_blank">Discord</a>
<h5>Contact</h5>
CMO Anton Demenko Primex Finance info@primex.finance 
The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/primex-the-protocol-for-spot-margin-trading-on-dexs-launches-its-mainnet-beta/">Primex, the Protocol for Spot Margin Trading on DEXs, Launches its Mainnet Beta</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.

Primex, the Protocol for Spot Margin Trading on DEXs, Launches its Mainnet Beta

Crypto News Land

Other articles published on Oct 19, 2023

Optimism Price Prediction: Everlodge Sees New Wave of Investors, Litecoin Sets New Milestone

XRP NEWS: SEC Drops Lawsuit Against Ripple $XRP Executives, XRP will Reach $10 Soon?

BitMart Token (BMX) Price Prediction 2024, 2025, 2030, 2040, and 2050

Ripple Executives Triumph Over SEC’s Charges

Demand for Ethereum Staking has Dropped Significantly – What's Going On?

Elon Musk and Mark Cuban spoke out against SEC

Join our free newsletter for daily crypto updates!