Primex Launches Alpha Version of Decentralized Prime Commission Protocol on Testnet

Primex Finance, a DeFi platform that connects passive sharers with merchants, is launching its testnet, which is approaching its first Alpha release. Alpha will mark the final testing phase before a full release, delivering the vast majority of features designed for the mainnet.

Primex benefits two classes of users: Lenders and Traders. Lenders take assets and supply them with different assets and trading rules. The rules limit how Traders can use their borrowed funds and specify which pairs they can use and what their maximum leverage is.

The primary benefit for traders using Primex is that they can access leverage trading and other on-chain trading tools in a derivative-free and completely decentralized manner. Lenders have the opportunity to generate significantly higher interest rates compared to regular lending platforms as they are backed by trading profits and fees. Traders do not need to secure their margin debts, as trades are made through Primex smart contracts, not traders’ personal wallets.

It only locks initial trading deposits to a Primex smart contract. This is similar to margin trading on centralized exchanges where platforms know their trading positions will be subject to liquidation.

Lenders and Traders on Primex are evaluated by community nominated notaries, dedicated community members with expertise in evaluating effectiveness on the platform. A high reputation and track record of success on the chain makes merchants more likely to allow less risky lenders to enter. Higher leverage for lenders equals higher returns than regular DeFi lending platforms and involves little risk.

Primex Alpha edition includes all the core functionality of the platform with three starter packs for Lenders. These use test ERC-20 tokens that can be minted from the Primex faucet. Lenders can provide funds, see their balances and action histories. Traders can borrow these tokens and perform complex trading operations with stop loss and limit orders. While this initial phase doesn’t involve real money, helping testers use the system and find potential bugs is critical to the platform’s success.

“It has been a few months since we started the development process and we are finally launching Primex Alpha, the first big step towards mainnet launch,” said Vlad Kostanda, co-founder of Primex Finance. Alpha includes all the core features for the mainnet and offers both Lenders and Merchants a fun playground to check out the platform and test its functionality.”

Primex will also run the referral program, which is anticipated to reward all liquidity/trading volume directed later. Links between ERC-20 addresses will be stored on-chain in a smart contract.

About Primex

Primex is the main cross-chain brokerage liquidity protocol for cross DEX margin trading with trader scoring mechanisms.

On Primex, lenders provide liquidity to pools that traders can use for leveraged trading in cross-DEX environments.

Lenders will have the flexibility to manage their risk and returns by providing liquidity to various risk groups, which are subsets of liquidity pools that regulate trader risk strategies.