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

<p>Non-custodial
protocol for spot margin trading Primex Finance 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 utilize the Primex app and access spot margin trading
on the Uniswap, Balancer, Curve, Sushiswap, Quickswap, and Meshswap DEXs.</p><p>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.</p><p>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.</p><p>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).</p><p>In
addition to the Liquidity Mining Program, Primex also launches an on-chain
Referral Program 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.</p><p>"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.</p><p>About
Primex Finance</p><p>Founded
in 2021, Primex
Finance (https://primex.finance/)
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.</p>

This article was written by FL Contributors at www.forexlive.com.