Kyiv, Ukraine, October 13, 2022, Chainwire

primex finance, the first major cross-chain brokerage protocol, launches Primex Beta on the Ethereum Goerli testnet. The Beta version allows users to experiment with cross-DEX spot margin trading of the protocol. With the launch of the beta version, Primex is also introducing the new Early adopter Referral Program, offering benefits to early sign-ups and rewards based on referrals.

DeFi has the potential to financially empower investors and traders in ways previously unimaginable in the traditional financial world. Despite that, most existing DEXs with margin trading features still use centralized trade execution mechanisms and have a limited amount of assets available for margin trading as derivatives.

Primex decentralizes the trade execution mechanism to allow a wider variety of actions on DEX. Instead of centralized order books, all automated trade executions on Primex are done by a network of Keepers. Consequently, decentralization can be maintained throughout the entire trading process, from the creation of an order to the closing of the position.

The Beta version of the Primex protocol introduces key features, such as:

• Spot trading without leverage: Primex Traders will now be able to use different order types (stop loss, take profit and limit order) for non-leveraged spot trades in a decentralized manner, making it easier to trade cryptocurrency pairs without leverage.
• Primex Divider: A new mechanism that works as an aggregation solution that splits trades between multiple DEXs and helps users to trade more efficiently by reducing slippage and finding the best trade rates, without additional charges.
• Open Position and Modification of Orders: We introduce the possibility for users to modify the deposit, Take Profit/Stop Loss (TP/SL), limit price and leverage of open orders.
• Partial Position Closing: Traders now have the ability to partially close an open position. When a position is partially closed, the returned funds are distributed between the Credit Bucket and the Trader, depending on the size of the debt.
• Spot orders and position data: Data display expanded to include information on each trader’s spot positions and orders.
• WalletConnect integration: In addition to MetaMask, users can now use WalletConnect, expanding the variety of crypto wallets connected to Primex.
• New DEX integrations: Primex Beta supports two new DEXs (Curve and Balancer) as well as Uniswap v3 pools with different fees.
• Bucket Reserves: A new mechanism that automatically moves part of the merchants’ fees to the Reserve Fund of each Credit Cube to insure them against possible losses.
• Multilingual support: The Primex platform is now available in seven more languages ​​to provide access to a more localized and user-friendly experience.

In addition to the new mechanisms introduced with Primex Beta, the referral program offers rewards in exchange for inviting new users to the platform. Connections and referral contributions are automatically tracked using smart contracts to transparently store data on-chain. In addition, the Early User Program Grants participation in private challenges for a chance to win exclusive prizes and access to Primex’s private Discord channels. Ultimately, early adopters can also participate in the Ambassador Program to earn exclusive rewards just for ambassadors.

“We are well on our way to fulfilling our mission to defrag DeFi markets through the new major brokerage protocol that offers users open access to a truly decentralized spot margin trading experience across numerous DEXs and blockchains.” says Vlad Kostanda, co-founder and CEO. from Primex. “This new update will improve the performance of the protocol and bring our team one step closer to launching the Primex mainnet.”

About Primex Finance
Primex Finance, led by Ukraine, is the leading cross-chain brokerage liquidity protocol for cross-DEX margin trading with merchant scoring mechanisms. Lenders will have the flexibility to manage their risk and return by providing liquidity to a variety of risk categories, subsets of liquidity pools that regulate traders’ risk strategies. For more information, visit https://primex.finance/ or visit the Primex blog.

Contact

marketing director
Anton Demenko
PrimexLabs OU
info@primex.finanzas