Primex Launches Alpha Version of Decentralized Prime Brokerage Protocol on Testnet

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  • Primex is launching its first Alpha version on the upcoming testnet.
  • The Alpha offers the vast majority of the features intended for mainnet, marking the last testing stage before full release.
  • Primex offers utility to two classes of users: the Lenders and the Traders.
  • Lenders take their assets and supply them into buckets with different assets and trading rules.
  • The rules limit how Traders can use the funds they borrow from these buckets, indicating which pairs they can use and what is their max leverage.
  • The primary benefit for traders using Primex is that they can access leverage trading and other trading tools on-chain, without using derivatives and in a completely decentralized way.
  • Lenders in their turn have an opportunity to generate significantly higher interest compared to regular lending platforms, as its backed by trading profits and fees.
  • Buckets and Traders in Primex are evaluated by community-nominated notaries, special community members who have the expertise to assess the activity on the platform.
  • High on-chain reputation and history of success makes it more likely that traders will be allowed into riskier buckets.
  • For lenders, higher leverage equals higher yield than on regular DeFi lending platforms, with little added risk.
  • The Primex Alpha release includes all the core functionality of the platform, with three initial buckets available for Lenders.
  • These use test ERC-20 tokens that can be minted from the Primex faucet.
  • Lenders can provide funds, see their balances and history of actions.
  • Traders will be able to borrow these tokens and conduct complex trading operations with stop loss and limit orders.
  • While this first stage doesnt involve real money, attracting testers to use the system and find out potential bugs is critical for the platforms success.
  • Primex will also be running its anticipated referral program where all the referred liquidity/trading volume will later be rewarded.
Primex Launches Alpha Version of Decentralized Prime Brokerage Protocol on Testnet
Primex Launches Alpha Version of Decentralized Prime Brokerage Protocol on Testnet 2

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