Primex Finance, a cross-chain protocol for spot margin trading on DEXs, has launched its Primex Beta on the Ethereum Goerli testnet.
According to the team, the Beta version allows users to experiment with Primex’s cross-DEX margin trading. At the same time, this launch introduces Primex’s new Referral program to early users, offering them various benefits and referral-based rewards.
This Beta version introduces key features and a few tweaks to existing functionalities. The first feature is spot trading without leverage. Primex Traders can now use different types of orders-stop loss, limit orders, and take profit for non-leveraged spot trades. This will be done decentralized, facilitating the trade of crypto pairs without leverage.
Users can use the open position and order modification features to modify the deposit, limit the price, take profit/ Stop Loss, and leverage open orders. Traders also have access to Prime Splitter, a new mechanism that functions as an aggregation solution. Primex Splitter slits up swaps across multiple DEXs. This feature helps users make their trades more efficiently by reducing slippage and finding the best swap rate. All this is done without any additional fees.
Another notable feature is the bucket reserves, a new mechanism that automatically moves parts of a trader’s fees to the Reserve pools of each credit bucket. This amount is used to insure traders against any potential losses. Other features include partial position close, spot order, position data, WalletConnect integration, New DEX integrations, and multi-language support.
Commenting on the Beta launch, Vlad Kostanda, Co-Founder and CEO of Primex, explained:
“We are right on track to fulfilling our mission of defragmenting the DeFi markets via the new prime brokerage protocol that offers users open access to a truly decentralized spot margin trading experience across numerous DEXs and blockchains. This new upgrade will enhance how the protocol works while bringing our team one step closer to Primex’s mainnet launch.”
Primex Finance is a Ukrainian cross-chain prime brokerage liquidity protocol for cross-DEX margin trading. Primex’s mission is to ‘unite regular people, traders, and financial organizations into an ecosystem, allowing them to trade freely and earn interest backed by trading profits worldwide.’