Primex Finance

Arbitrum

Polygon

<p><a href="https://xyzl.ink/kyljjnn" target="_blank" rel="noreferrer noopener nofollow">&nbsp;Primex Finance</a>, a non-custodial protocol for spot margin trading on DEXs, announces new deployment on Arbitrum One. In addition to being live on Polygon PoS, the current event is an important milestone in Primex’s multichain initiatives. Simultaneously, deploying the protocol to Arbitrum increases users’ flexibility, enhances traders’ and lenders’ user experience, and enables the project to reach an expanded audience.</p> 
<p>On the mission of unifying liquidity in the<a href="http://thenewscrypto.com/tag/defi/" target="_blank" rel="noreferrer noopener"> DeFi</a> market, Primex connects lenders with traders to enable spot margin trading on existing decentralized exchanges. While traders can benefit from CEX-like tooling and interfaces, lenders can gain access to high lending APYs by supplying liquidity to Credit Buckets, specialized smart contract-powered liquidity pools. Besides earning interest on their deposited assets, lenders can also utilize Buckets to diversify their portfolio based on their risk appetite.</p> 
<p>As a key protocol feature, Primex Finance facilitates spot margin trading in the ecosystem with decentralized trade execution. Instead of central limit order books (CLOBs) and other centralized backends, a network of Keepers is responsible for executing automated trades and liquidating traders’ unprofitable positions that fall below the maintenance margin. In the future, Primex aims to expand the protocol’s functionalities with other DeFi-based leveraged operations beyond non-custodial spot margin trading.</p> 
<p>Arbitrum One is a prominent layer 2 scalability solution that utilizes Optimistic rollups to achieve enhanced throughput while relying on <a href="http://thenewscrypto.com/news/ethereum-news/" target="_blank" rel="noreferrer noopener">Ethereum’s</a> decentralization and security for transaction finality. By batch-processing transactions on the second layer, the L2 chain offers users inexpensive gas fees and lightning-fast block times. With an<a href="https://l2beat.com/scaling/summary" target="_blank" rel="noreferrer noopener nofollow"> over $7 billion TVL</a> and<a href="https://arbiscan.io/chart/address" target="_blank" rel="noreferrer noopener nofollow"> 14.1 million unique addresses</a>, it is the largest market for decentralized finance.</p> 
<p>“The recent deployment on Arbitrum translates into an important milestone for Primex. It makes the protocol multichain, offers users more options to lend and trade at reduced gas fees and fast confirmation times, and provides lenders and traders with more flexibility for their activities. Simultaneously, Primex can now tap into Arbitrum’s $7 billion TVL and large user base to expand its audience and reach more retail and institutional clients,” said Vlad Kostanda, Primex’s Co-Founder.</p> 
<p>In tandem with Primex’s Arbitrum deployment, the protocol invites community members to join the Liquidity Mining Program to help accumulate liquidity in Credit Buckets for their launch in the layer 2 network. In exchange for their contributions, participants can receive rewards based on their roles and activities. As part of the<a href="https://primex.finance/referral" target="_blank" rel="noreferrer noopener nofollow"> Referral Program</a>, users can also earn rewards in a portion of the referred generated protocol revenue as referrers or Early Primex NFTs as referees.</p> 
<h2 class="wp-block-heading" id="h-about-primex-finance">About Primex Finance</h2> 
<p>Founded in 2021, <a href="https://xyzl.ink/kyljjnn" target="_blank" rel="noreferrer noopener nofollow">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. In October 2023, the protocol launched its long-awaited mainnet Beta release on Polygon, representing a significant milestone in its roadmap.</p> 
<h2 class="wp-block-heading" id="h-contact-information">Contact information</h2> 
<ul> 
 <li>CMO</li> 
 <li>Anton Demenko</li> 
 <li>Primex Finance</li> 
 <li>info@primex.finance</li> 
</ul> 
<p><strong>Disclaimer</strong>: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.</p>

Primex Finance Deploys to Arbitrum To Enable Leverage on Its DEXs

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