Announcing the Primex Finance Rewards Campaign on CoinList

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Primex Finance is a non-custodial prime brokerage protocol that connects lenders with traders. It empowers traders to amplify their trading positions with leverage on DEXs such as Uniswap, Balancer, and Curve.

Today, we’re excited to announce the Primex Finance “Contribute and Earn” Rewards Campaign. In an effort to onboard both Lenders and Traders, Primex is offering a reward pool of 20,000,000 ePMX tokens (2% of the total token supply) to qualifying participants for their contributions.

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Rewards:

During the campaign, 20,000,000 ePMX tokens will be distributed, representing 2% of the total token supply. ePMX is a non-transferable early version of PMX that will be available after the TGE later this year. At the TGE, the fully functional PMX token will launch and replace ePMX as the protocol’s native asset. When this happens, holders will have the ability to exchange their ePMX for PMX tokens.

This campaign aims to reward both Lenders and Traders based on their activities across supported chains; Ethereum mainnet, Polygon, and Arbitrum.

For Lenders, Primex offers:

  • Daily rewards that match the amount of liquidity you provide
  • Milestones that celebrate the total value of your locked-in liquidity over time

For Traders, the system rewards you based on:

  • Trading volume
  • The number of trades you execute
  • The variety of trades you engage in
  • Consistent weekly trading activity

Additional information regarding points and rewards can be found here.

Timeline:

*The Primex Finance team maintains the right to change the duration of rewards campaign phases at any time.

About Primex Finance:

Primex Finance is a non-custodial prime brokerage protocol that connects lenders with traders. It empowers traders to amplify their trading positions with leverage on DEXs such as Uniswap, Balancer, Curve, and others. On Primex, traders utilize lender funds as leverage for a variety of spot assets on existing spot trading venues without the necessity of trading in an isolated derivative DEX.

On Primex, traders can experience non-custodial trading powered by a decentralized trade execution mechanism and benefit from CEX-like trading tools and interfaces.

The trade execution is powered by so-called 'Keepers,' community-hosted bots responsible for actions such as liquidations and order execution on behalf of the protocol.

What problems does Primex solve?

  • Fragmentation of digital asset markets
  • Centralized trade execution still present in DeFi
  • Over-collateralization in DeFi
  • Limited number of assets, their combinations and pairs available for leverage
  • Sophisticated trading interfaces and limited automation tooling in DeFi

Spot margin trading is the first implemented Primex use case for the liquidity borrowed from Lenders, and it is already live on ETH mainnet, Arbitrum, and Polygon.

Primex aims to expand the number of leverage use cases in its v2, set for release mid-2024. Primex v2 will introduce opportunities such as leveraged liquidity provisioning on DEXs, leveraged liquid staking, and the expansion of supported asset types beyond fungible tokens. This expansion will enable lending and borrowing of LP tokens and even non-fungible assets such as Uniswap V3 LP position NFTs.

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