Primex, the instant margin trading protocol on DEXs, Launche Cryptocurrency scrgruppen
New York, USA, October 19, 2023, Chainwire
A non-custodial protocol for spot margin trading Premix Finance Announces the launch of the long-awaited mainnet beta. Marking an important milestone for the protocol, the latest version has been published on Polygon’s PoS chain. Therefore, traders can Use the premix app And access to instant margin trading on Uniswap, Balancer, Curve, Sushiswap, Quickswap and Meshswap DEXs.
By connecting lenders to traders, Primex allows traders to leverage lender liquidity for instant leveraged trading on existing DEX exchanges while leveraging CEX-like tools and interfaces. In exchange for providing assets to the protocol, lenders earn interest on the deposited digital assets. With Primex, lenders benefit from high lending APY rates 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 central order books (CLOB), Keepers are responsible for executing all automated trades and liquidating risky trader positions to protect the lender’s funds. Besides unfriendly spot margin trading, Primex will enable other leveraged operations via various DeFi protocols in future releases.
In conjunction with the mainnet beta, Primex Finance is also launching its own liquidity mining software. This program is essential for accumulating early liquidity and trading volume for lenders, and consists of rewards for participating in the pool launch and rewards for early lenders and traders. Participants in the liquidity mining program will be eligible to receive Early Primex (ePMX) tokens based on their roles and activities. In the future, holders will have the ability to exchange their earned ePMX for fully-functional Primex (PMX) tokens.
In addition to the liquidity mining software, Primex is also launching an on-chain software Referral program Which plays an important role in the mainnet beta launch. Referrers are eligible to receive a commission paid from the protocol’s revenue for activities created by referees, while referees will benefit from exclusive NFTs that can be used to reduce protocol fees and increase lender interest. The communication between referrers and their referees is stored in a smart contract, ensuring that both sides are rewarded for their activity.
“Dedicated months of hard work have led to the launch of the mainnet beta, turning an elusive goal into reality. Primex’s first mainnet finally enables fully uncollateralized, decentralized lending for trading purposes. Now, with the launch of the mainnet beta, Traders can use the rich set of features and interfaces to trade on their favorite DEX platforms with leverage,” said Dmitry Tolok, co-founder of Primex.
About Premix Finance
Founded in 2021, Premix Finance It is a decentralized protocol for spot margin trading on DEXs. It connects lenders with traders, enabling traders to leverage lender liquidity to trade with leverage on popular DEX exchanges. Primex offers traders familiar CEX-like interfaces and trading tools to enhance flexibility in their trading strategies.
For more information visit Primex Finance: Official Website | Twitter | Sedition
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Chief Marketing Officer
Anton Demenko
Premix Finance
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