♻️ Easy and Fair DeFi Trading
Primex and how it creates an easy and safe ecosystem for trading DeFi.
Today's Highlights
- Primex - uniting traders and financial organizations in a proper ecosystem for trading
- Learn - a couple of courses to further your knowledge in crypto.
- In Other News - a few interesting developments we're tracking.
Primex - uniting traders and financial organizations in a proper ecosystem for trading
Decentralized Finance has become integral to the world of digital assets, with both the trader and the lender increasing profits without having to deal with traditional banking to exchange value. It's a growing industry but there are still limitations that are gradually being addressed by innovative products like Primex Finance.
Primex offers solutions that let lenders bypass banks and borrowers have access to liquidity without the need to meet the requirements of middlemen. Primex is addressing the need for a fully decentralized solution to replicate margin trading in a DeFi environment by providing access to lending so traders can open and close trades and amplify their positions using decentralized lender liquidity.
The way Primex approaches the challenges of leveraged trading in the crypto space is unique in the market, solving multiple issues with one protocol. The current market landscape is highly fragmented. The number and availability of assets on the limited number of centralized exchanges is another major issue. With cross-DEX trading with a protocol deployed across multiple chains, the number of positions and types of trades available becomes limitless through Primex ; the market is opened up for more diverse trading options.
By using trading returns, traders can yield farm — the traditional equivalent of earning interest on deposits. Because interest is backed by trading fees and profits from margin trades that can be executed across multiple DEXs, high profits are made which can then be shared with lenders, offering a strong incentive to offer liquidity through Primex.
With Primex, only the initial trading deposit is locked and there is no need for a protocol to send borrowed assets to traders’ wallets. If a trade were liquidated, assets are moved back to the protocol. Traders always interact with the DEXs through Primex smart contracts.
Deeper protection for lenders is baked into the Primex protocol. When version 2.0 is launched, a machine learning-based scoring mechanism will continuously score traders according to their trading history. Traders will be placed into buckets which will assist lenders in determining the risk they are prepared to take when providing funding.
By offering a platform to increase liquidity in blockchain-based markets and enabling cross-DEX trading, Primex will fundamentally change how decentralized markets operate. Primex Finance has raised $5.7M in funding. “In developing Primex, our mission is to unite the two biggest DeFi use cases: DEXs and lending, into a new ecosystem, as well as give access to margin trading in a truly decentralized way,” said Dmitry Tolok, co-founder of Primex Finance.
📚 Learn
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Arvind Narayanan
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Cam Harvey
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In Other News
Coinbase
Reynaldo Marquez
Best Owie