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(Press Release – Please Read Disclaimer)
Non-Custodial Prime Brokerage Protocol Primex Finance is thrilled to announce the upcoming launch of its highly anticipated Mainnet. With the code freeze and the auditing process underway, the Primex core team is making significant progress toward release.
Primex Finance is scheduled to launch its mainnet beta in September 2023, with independent auditors expected to complete the auditing process over the next 12 weeks. In the meantime, the team is actively developing a subsequent protocol version, which will be implemented in early 2024. Primex V1 Release.
For its initial deployment, Primex will launch on the Polygon POS network, leveraging the network’s rapidly growing ecosystem. The mainnet launch will introduce support for leveraged trading of Wrapped Ether (WETH), Wrapped Bitcoin (WBTC), Polygon (MATIC), USD Coin (USDC), and Tether USD (USDT). These five assets will be available for trading in the Primex Credit Bucket, specialized smart contracts that facilitate margin trading on the platform. Lenders will have the opportunity to earn a yield by supplying liquidity to Bakkt, while traders can borrow assets for spot margin trading.
In addition to margin trading, the initial deployment of Primex will enable users to engage in non-leveraged trading through Spot1X trades and decentralized limit swaps. Following the mainnet launch, the list of supported assets for these trade types is expected to expand significantly.
Beyond the Polygon network, Primex has plans to deploy on one or two additional chains in the near future. The team is actively exploring various options including Arbitrum and the Ethereum mainnet.
The Ethereum mainnet stands as the leading DeFi ecosystem, with over $26 billion locked in the decentralized finance protocol on its mainnet. Considering Ethereum’s established infrastructure, it presents an attractive option for PrimeX to expand, especially for large-cap traders. Additionally, the protocol aims to support a wider community by leveraging more L2 blockchains to accommodate the lower slot sizes.
“We are thrilled about the upcoming mainnet launch, as it represents an important milestone on our roadmap,” said Dmitry Tolok, co-founder of Primex. “In the meantime, Primex continues to be available to early users on the testnet, providing a risk-free environment to explore and test the capabilities of the platform.”
Alongside the mainnet update, the Primex team has unveiled additional information regarding the protocol’s documentation. Users can now easily access the project white paper and highly anticipated yellow paper,
About Primex Finance
Established in 2021, Primex Finance is a non-custodial prime brokerage protocol that bridges the gap between lenders and merchants. With a focus on enhancing the trading experience on existing decentralized exchanges (DEXs), Primex enables spot margin trading backed by lender liquidity. The platform revolutionizes trading on DEXs by offering a wide range of limit orders with decentralized execution, giving traders more choice and flexibility in their trading strategies.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
[ad_1]
(Press Release – Please Read Disclaimer)
Non-Custodial Prime Brokerage Protocol Primex Finance is thrilled to announce the upcoming launch of its highly anticipated Mainnet. With the code freeze and the auditing process underway, the Primex core team is making significant progress toward release.
Primex Finance is scheduled to launch its mainnet beta in September 2023, with independent auditors expected to complete the auditing process over the next 12 weeks. In the meantime, the team is actively developing a subsequent protocol version, which will be implemented in early 2024. Primex V1 Release.
For its initial deployment, Primex will launch on the Polygon POS network, leveraging the network’s rapidly growing ecosystem. The mainnet launch will introduce support for leveraged trading of Wrapped Ether (WETH), Wrapped Bitcoin (WBTC), Polygon (MATIC), USD Coin (USDC), and Tether USD (USDT). These five assets will be available for trading in the Primex Credit Bucket, specialized smart contracts that facilitate margin trading on the platform. Lenders will have the opportunity to earn a yield by supplying liquidity to Bakkt, while traders can borrow assets for spot margin trading.
In addition to margin trading, the initial deployment of Primex will enable users to engage in non-leveraged trading through Spot1X trades and decentralized limit swaps. Following the mainnet launch, the list of supported assets for these trade types is expected to expand significantly.
Beyond the Polygon network, Primex has plans to deploy on one or two additional chains in the near future. The team is actively exploring various options including Arbitrum and the Ethereum mainnet.
The Ethereum mainnet stands as the leading DeFi ecosystem, with over $26 billion locked in the decentralized finance protocol on its mainnet. Considering Ethereum’s established infrastructure, it presents an attractive option for PrimeX to expand, especially for large-cap traders. Additionally, the protocol aims to support a wider community by leveraging more L2 blockchains to accommodate the lower slot sizes.
“We are thrilled about the upcoming mainnet launch, as it represents an important milestone on our roadmap,” said Dmitry Tolok, co-founder of Primex. “In the meantime, Primex continues to be available to early users on the testnet, providing a risk-free environment to explore and test the capabilities of the platform.”
Alongside the mainnet update, the Primex team has unveiled additional information regarding the protocol’s documentation. Users can now easily access the project white paper and highly anticipated yellow paper,
About Primex Finance
Established in 2021, Primex Finance is a non-custodial prime brokerage protocol that bridges the gap between lenders and merchants. With a focus on enhancing the trading experience on existing decentralized exchanges (DEXs), Primex enables spot margin trading backed by lender liquidity. The platform revolutionizes trading on DEXs by offering a wide range of limit orders with decentralized execution, giving traders more choice and flexibility in their trading strategies.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
