{"id":177474,"date":"2023-10-20T01:05:54","date_gmt":"2023-10-19T19:35:54","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=177474"},"modified":"2023-10-20T01:05:54","modified_gmt":"2023-10-19T19:35:54","slug":"spot-margin-trading-protocol-primex-finance-launches-mainnet-beta-announces-incentives-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/spot-margin-trading-protocol-primex-finance-launches-mainnet-beta-announces-incentives-crypto-news\/","title":{"rendered":"Spot Margin Trading Protocol Primex Finance Launches Mainnet Beta, Announces Incentives – Crypto News"},"content":{"rendered":"
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Spot margin trading protocol Primex Finance<\/a> has launched its mainnet Beta. The protocol is now on Polygon\u2019s PoS chain, marking a major milestone for the project. As a result, the Primex App now\u00a0grants traders access to spot margin trading on the Uniswap, Balancer, Curve, Sushiswap, Quickswap, and Meshswap DEXs.<\/p>\n

Primex bridges the gap between Lenders and Traders. It does this by\u00a0allowing traders\u00a0to use lenders\u2019\u00a0access to Lender liquidity for spot trading on preexisting DEXs using\u00a0CEX-like tools and interfaces. In return, lenders receive interest on their deposited digital assets as payment for contributing them to the protocol. Primex\u2019s first mainnet introduces fully collateralized, decentralised lending for trading, which was previously impossible without collateral.<\/p>\n

Lenders on Primex benefit from high annual percentage yields (APYs) and portfolio diversification according to their risk tolerance. This is done through\u00a0Credit Buckets, which are specialised liquidity pools that connect lenders with margin traders.<\/p>\n

\u201cNow, with the launch of the mainnet Beta, traders can utilize a rich feature set and interfaces for trading on their favorite DEXs with leverage,\u201d stated Dmitry Tolok, Co-founder of Primex.<\/p>\n

The protocol uses\u00a0a distributed network of Keepers hosted by the community to enable\u00a0decentralised trade\u00a0execution. To safeguard Lender funds, Keepers execute all automated transactions and close out Traders\u2019 risky positions instead of using centralised order books (CLOB).<\/p>\n

Future versions of Primex will also support other leveraged activities across different DeFi protocols and non-custodial spot margin trading.<\/p>\n

What else is in the pipeline?<\/h2>\n

Primex Finance has released\u00a0the Beta version of the mainnet and launched\u00a0its Liquidity Mining Programme simultaneously. The Liquidity Mining Programme, which includes rewards for taking part in the bucket launch as well as rewards for early Lenders and traders, is crucial for amassing early Lender liquidity and trading volume.<\/p>\n

Primex will reward early participants in the programme using Early Primex Tokens (ePMX). The amount of tokens received will depend on the roles and activities they participate in. Token holders will be able to convert their earned ePMX into fully functional Primex Tokens (PMX) in the future. <\/p>\n

Primex has also introduced an essential component of the mainnet Beta launch: an on-chain Referral Programme<\/a>. The Referral Program will give referrers access\u00a0to exclusive NFTs that they can\u00a0use\u00a0to reduce protocol fees and enhance lender interest. On the other hand,\u00a0referees\u00a0will receive a commission paid from the protocol revenue for activities performed by referees. A smart contract will\u00a0record\u00a0the referral relationship between the two parties, guaranteeing that both referrers and referees\u00a0receive compensation.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Spot margin trading protocol Primex Finance has launched its mainnet Beta. The protocol is now on Polygon\u2019s PoS chain, marking a major milestone for the project. As a result, the Primex App now\u00a0grants traders access to spot margin trading on the Uniswap, Balancer, Curve, Sushiswap, Quickswap, and Meshswap DEXs. Primex bridges the gap between Lenders […]<\/p>\n","protected":false},"author":2,"featured_media":177475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-177474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=177474"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177474\/revisions"}],"predecessor-version":[{"id":177476,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177474\/revisions\/177476"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/177475"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=177474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=177474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=177474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}