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 canConnecting 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.
The protocol achieves decentralized trade execution through a network of community-hosted Keepers. Instead of using centralized order books , 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.
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 based on their roles and activities.
"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.is a decentralized protocol for spot margin trading on DEXs.
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Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: Cointelegraph - 🏆 562. / 51 Read more »