Primex Finance Launches Its Beta Version, Letting Users Experience Its Cross-DEX Trading Features

Kyiv, Ukraine, Oct 13, 2022, Chainwire

Primex Finance, the first-ever cross-chain prime brokerage protocol, launches Primex beta on the Ethereum Goerli testnet. The beta version allows users to try out the protocol’s cross-DEX spot margin trading. With the beta release, Primex is also introducing a new referral program for early users, offering rewards for early registrants and referral-based rewards.

DeFi has the potential to empower investors and traders financially in ways unimaginable in the traditional financial world. Nevertheless, most of his existing DEXs with margin trading functionality still use a centralized trade execution mechanism, with a limited number of assets available for margin trading as derivatives. increase.

Primex decentralizes the trade execution mechanism to enable different actions on the DEX. Instead of a centralized order book, all automated trade executions on Primex are performed by a network of keepers. As a result, decentralization can be maintained throughout the trading process, from order creation to position closing.

The beta version of Primex’s protocol introduces key features such as:

• Spot trading without leverage: Primex traders will now be able to use different types of orders (Stop Loss, Take Profit, Limit Orders) for unleveraged spot trading in a decentralized manner, facilitating unleveraged trading of cryptocurrency pairs.
• Primex Splitter: A new mechanism that acts as an aggregation solution to help users trade more efficiently by splitting their swaps into multiple DEXs and finding the optimal swap rate with reduced slippage at no extra charge.
• Open positions and order changes: We have introduced the ability for users to change the deposit, take profit/stop loss (TP/SL), limit price and leverage of open orders.
• Closing a partial position: Traders can now partially close open positions. When a position is partially closed, the returned funds are distributed between credit buckets and traders according to the size of the liability.
• Spot orders and position data: Expanded the data display to include information about spot orders and positions for each trader.
• WalletConnect integration: In addition to MetaMask, users can now use WalletConnect, expanding the range of crypto wallets connected to Primex.
• New DEX integration: Primex Beta supports two new DEXs (Curve and Balancer) and Uniswap v3 pools with different pricing.
• Bucket reservation: A new mechanism that automatically moves a portion of a trader’s fees to each credit bucket’s reserve pool to protect against potential losses.
• Multilingual support: The Primex Platform is now available in 7 more languages to give you access to a more localized and user-friendly experience.

In addition to the new mechanics introduced in Primex Beta, Referral program Offer rewards in exchange for inviting new users to the platform. Connections and referral contributions are automatically tracked using smart contracts, and data is stored transparently on-chain. moreover, Early User Program Accept participation in private challenges for a chance to win exclusive prizes and access Primex’s private Discord channel.Eventually, early users will also be able to participate Ambassador Program Earn exclusive rewards exclusive to Ambassadors.

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Co-Founder and CEO Vlad Kostanda said: of Primex. This new upgrade enhances the functionality of the protocol while also bringing our team one step closer to the Primex mainnet launch.

About Primex Finance

Ukraine-led Primex Finance is a cross-chain prime broker liquidity protocol for cross-DEX margin trading with a trader scoring mechanism. Lenders have the flexibility to manage risk and return by offering liquidity to different risk buckets, which are subsets of the liquidity pool that regulate traders’ risk strategies. For more information, see: https://primex.finance/or visit Primex blog.

contact

CMO, Anton Demenko, Primex Labs O, [emailprotected]