Primex Finance, a non-custodial agreement for spot margin trading, announced the launch of its long-awaited mainnet beta.。The latest version has been deployed on Polygon's PoS chain, after which traders can use the Primex app to trade spot margin on Uniswap, Balancer, Curve, Sushiswap, Quickswap and Meshswap DEX。

Primex connects lenders with traders, enabling traders to leverage the liquidity of lenders on existing DEX while benefiting from CEX-like tools and interfaces。In exchange for providing assets to the agreement, the lender may earn interest on the deposited digital assets。With Primex, lenders can enjoy high annual lending rates and diversify their portfolios through credit buckets (Credit Buckets), a professional liquidity pool that connects lenders and margin dealers, based on their risk appetite.。

The protocol enables decentralized transaction execution through a community-hosted Keepers network。Instead of using a centralized order book (CLOB), Keepers is responsible for executing all automated trades and clearing traders' risk positions to protect lenders' funds.。In addition to escrow spot margin trading, Primex will also enable additional leverage operations across various DeFi protocols in future releases.。

In conjunction with the launch of the mainnet beta, Primex Finance also launched a liquidity mining program。The program is critical to building up liquidity and trading volume for early lenders, and it includes incentives for participating in the launch of the barrels as well as early lender and dealer incentives.。Participants in the liquidity mining program will be eligible to receive early Primex tokens (ePMX) based on their roles and activities.。In the future, the holder will have the ability to exchange the acquired ePMX into a fully functional Primex token (PMX).。

In addition to the liquidity mining program, Primex has also launched an on-chain recommendation program, which plays an important role in the release of the main network beta.。Referrals are eligible to receive commissions from the agreement income generated by the activities of the recommended person, and the recommended person will benefit from an exclusive NFT that can be used to reduce agreement fees and increase lender interest。The connections between the referrals and their referrals are stored in smart contracts, ensuring that both parties are rewarded for their activities。

"Primex's first mainnet culminates in low-mortgage, fully decentralized lending for trading purposes.。"Now, with the launch of the mainnet beta, traders can leverage trading on DEX with a rich feature set and interface," said Dmitry Tolok, co-founder of Primex.。"