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.

Primex invites the CoinList community to join its new 'Contribute and Earn' campaign, featuring a reward pool of 20,000,000 ePMX tokens, representing 2% of the total token supply. The campaign aims to onboard Lenders and Traders over a 12-week timeline.

The campaign aims to create fair competition among participants, with the ability to earn ePMX tokens on a bi-weekly basis based on their on-chain activities within the protocol.

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.

Contribute & Earn with Primex

The Primex point-based achievement program is calling on the CoinList community to earn points through their activities as Lenders and Traders across any supported chain, including 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.

There are no specific restrictions or eligibility criteria apart from the following:

• A wallet (e.g., via MetaMask) is required to connect with and engage in the campaign and to use all Primex features on all Primex official domains. Please ensure that you use the same wallet address for all activities. Visit the Campaign Page and Primex App connect your wallet to perform all quests.
• You must complete the Primex Onboarding Quest to become familiar with all the features included in the campaign and earn points.
• Certain jurisdictional limitations apply (i.e. users must be non-U.S./Canada and OFAC compliant), as outlined here.

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

PMX serves as both a utility and governance token. Holders can use it to access various Primex features and to govern the protocol after the DAO's launch. They can take advantage of benefits such as discounts on protocol fees. Simultaneously, the token also acts as an incentive for key mechanisms, such as rewarding Keepers for carrying out trade executions that are necessary for the protocol’s operation.

You can find the list of PMX’s utilities below:

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
• Overcollateralization 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.