Primex Finance Launches Mainnet Beta for Spot Margin Trading on Polygon
Primex Finance, a non-custodial protocol for spot margin trading, has announced the launch of its highly anticipated mainnet Beta. The latest version of the protocol has been deployed on Polygon’s PoS chain, allowing traders to access spot margin trading on various DEXs such as Uniswap, Balancer, Curve, Sushiswap, Quickswap, and Meshswap. This milestone enables traders to utilize lender liquidity for leveraged spot trading while benefiting from CEX-like interfaces and tooling.
Connecting Lenders with Traders
Primex facilitates the connection between lenders and traders by allowing traders to utilize lender liquidity for leveraged spot trading on existing DEXs. Lenders earn interest on their deposited assets while diversifying their portfolio through Credit Buckets, specialized liquidity pools that connect lenders with margin traders. The decentralized trade execution is carried out by community-hosted Keepers who execute automated trades and liquidate risky positions to protect lender funds.
Liquidity Mining Program and Referral Program
In addition to the mainnet Beta launch, Primex Finance has also introduced its Liquidity Mining Program. This program incentivizes early participation and offers rewards for bucket launches, as well as rewards for early lenders and traders. Participants in the program can earn Early Primex Tokens (ePMX) based on their roles and activities. The tokens can be exchanged for fully functional Primex Tokens (PMX) in the future.
Furthermore, Primex has launched an on-chain Referral Program that rewards referrers with commissions from protocol revenue generated by referees. Referees receive exclusive NFTs that can be used to reduce protocol fees and increase lender interest. The smart contract ensures that both referrers and referees are rewarded for their activity.
Hot Take: Primex Finance Empowers Traders with Spot Margin Trading on Polygon
The launch of Primex Finance’s mainnet Beta on Polygon marks a significant achievement for the protocol. Traders can now engage in spot margin trading on popular DEXs, benefiting from CEX-like interfaces and tools. By connecting lenders with traders, Primex enables leveraged trading while offering high lending APYs and risk diversification through Credit Buckets. The use of community-hosted Keepers ensures decentralized trade execution and protection of lender funds. The Liquidity Mining Program and Referral Program further incentivize participation and reward early adopters. With its innovative features, Primex Finance is poised to revolutionize spot margin trading in the DeFi space.
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