Jul 5, 2023
Primex Finance announces the upcoming launch of its highly anticipated mainnet.
US/New York - July 5, 2023 /MarketersMEDIA/ —
Non-custodial prime brokerage protocol Primex Finance is thrilled to announce the upcoming launch of its highly anticipated mainnet. With the code frozen and the auditing process underway, the Primex core team is making significant strides toward the release.
With independent auditors expected to complete the auditing process in the next 12 weeks, Primex Finance is scheduled to launch its mainnet Beta in September 2023. Meanwhile, the team is actively developing subsequent protocol versions, which will be rolled out in early 2024 to align with the Primex V1 release.
For its initial deployment, Primex will be launching on the Polygon PoS network, leveraging the network's fast-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 Primex Credit Buckets, specialized smart contracts that facilitate margin trading on the platform. Lenders will have the opportunity to earn yield by supplying liquidity to the Buckets, while traders can borrow assets for spot margin trading.
In addition to margin trading, Primex's initial deployment 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.
Ethereum mainnet stands as the leading DeFi ecosystem, with over $26 billion locked in decentralized finance protocols on its mainnet. Considering Ethereum's established infrastructure, it presents an attractive choice for Primex's expansion, particularly catering to traders with large position sizes. Simultaneously, the protocol aims to support the broader community by leveraging more L2 blockchains to accommodate lower position sizes.
"We are thrilled about the upcoming mainnet launch, as it signifies a significant 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, offering a risk-free environment to explore and test the platform's capabilities."
Alongside the mainnet update, the Primex team has unveiled additional information regarding the protocol's documentation. Users can now conveniently access the project's Whitepaper and the highly anticipated Yellow Paper.
About Primex Finance
Founded in 2021, Primex Finance is a non-custodial prime brokerage protocol that bridges the gap between lenders and traders. 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, providing traders with more options and flexibility in their trading strategies.
Contact Info:
Name: Anton Demenko
Email: Send Email
Organization: Primex Finance
Website: https://primex.finance/
Release ID: 89101475
If you detect any issues, problems, or errors in this press release content, kindly contact [email protected] to notify us. We will respond and rectify the situation in the next 8 hours.
Canes & Tales at Waldorf Astoria Osaka introduces The Great Railway Bazaar, a menu inspired by American novelist and travel writer Paul Theroux’s rail journey across Europe and Asia and the happy accidents that make travel memorable. The menu spans five famous railways - the London Underground, the Orient Express, India’s Grand Trunk Railway, Japan’s beloved Shinkansen and the International Express which journeys across Southeast Asia. Each is represented by two cocktails bringing to life the flavors of the region - with one offered in both alcoholic and alcohol-free versions - inviting guests to wander any path that speaks to them.
This year, Barbados celebrates 60 years of independence from Britain. This island paradise is one of the world’s foremost tourist destinations, pairing serene beaches and stunning landscapes with a cool, laid-back feel. But how much do you really know about Barbados? We’ve compiled 60 facts to celebrate 60 years of Barbadian independence, with help from the team at Royal Westmoreland, purveyor of luxury villas for sale in Barbados.
A nationwide aviation shutdown across the United States brought air travel to an unprecedented standstill on Friday, November 13, after the Federal Aviation Administration (FAA) ordered all departing flights at US airports to remain on the ground following a major communications failure affecting the country’s air traffic control network. The extraordinary decision disrupted thousands of flights, stranded passengers at airports across the country and created widespread uncertainty for airlines and travellers, with some of the busiest aviation hubs in the world affected.
tulah Clinical Wellness, developed by KEF Holdings in Kozhikode, Kerala, has partnered with US-based Apex Opinion, operated by Krivox Inc., to provide Indian patients access to independent medical second opinions from US board-certified specialists. The service, expected to become available from November 2026, will cover multiple medical disciplines through remote consultations and medical record reviews.
Towards the end of 2025, Charmaine Wong Szu Lin was scrolling through her Instagram DMs when a message stopped her cold. A South Korean production company wanted her to join a reality baking show. Her first instinct was deep suspicion. “Is this a scam?” the self-taught Malaysian baker, 30, recalls asking herself. It was not – the offer came from Bite Me Sweet, a baking competition that eventually aired on Viu from April to May this year. The show pairs five renowned female pastry chefs from...
When looking to book a five-star hotel, it’s tempting to play it safe and opt for one of the usual suspects. Brands like Four Seasons, Mandarin Oriental, Ritz-Carlton, St Regis, Peninsula and the likes – all wonderful hospitality groups with long histories behind them – have properties in pretty much every single global metropolis these days. It’s becoming increasingly rare to come across an independent five-star hotel that offers the same kind of service and facilities as those well-known...
Every globetrotter deserves to arm themselves this handy portable clothes steamer and these beloved travel-friendly pants. View Entire Post ›
Because they'll be here before we know it. View Entire Post ›
Political resignations are often presented as expressions of accountability after public disasters. Yet the departure of a senior official does not necessarily mean that the individual was personally responsible for what happened. Recent events in Hong Kong and Spain illustrate the distinction between accepting political responsibility and being directly culpable. In Hong Kong, Chief Executive John Lee and seven senior officials apologised over the Wang Fuk Court fire in Tai Po, which killed 168...
The man in his early forties felt perfectly well. A desk-based office worker, he had come in for a routine health assessment. The finding of prediabetes surprised him, despite a strong family history of diabetes and cardiovascular disease, recalls Hong Kong family medicine specialist Dr Geoffrey Lau Yue-young. They agreed on three goals: replace sugary drinks with unsweetened alternatives, walk for 20 to 30 minutes most days, and reduce the portion of rice or noodles at dinner. But business...
UN health officials on Friday hailed progress in the Ebola response six months after the outbreak first prompted global concerns, but cautioned that the disease continues to spread to more remote and dangerous parts of Congo.
Staying near prime tourist attractions in Manhattan can cost hundreds, even thousands, of dollars a night. These five properties welcome budget travelers of any faith.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.