Primex Finance
PMX Price
What is Primex Finance?
Primex Finance is a non-custodial prime brokerage protocol that connects lenders with traders, enabling traders to utilize lender liquidity for leveraged spot trading on existing DEXs like Uniswap, Balancer, Curve, and more. On Primex, traders can also benefit from CEX-like trader tooling and interfaces.
The protocol is powered by the fully decentralized trade execution mechanism (community-hosted Keepers), enabling the execution of different types of limit orders in a decentralized manner.
A few other leveraged operations across various DeFi protocols will be supported in future versions.
Primex Finance Roles
First and foremost, it is crucial for users to confidently identify the role that best suits them within Primex Finance. Rest assured, users have the flexibility to assign themselves multiple roles in Primex. At present, Primex offers three primary roles: Lender, Trader, and Keeper.
- Lender is a participant who deposits assets to Credit Buckets and receives interest based on that liquidity usage by Traders.
- Trader performs Swaps, Spot 1X, and Margin trading borrowing liquidity from Credit Buckets to use it as leverage in their positions.
- Keeper is basically a node, run by an individual to perform decentralized position liquidations and limit orders including Take Profit and Stop Loss conditions.
What is PMX?
The Primex Token (PMX) is the native token that powers the Primex ecosystem.
PMX is an ERC-20 token with a total supply of 1,000,000,000. It functions as both the governance and the utility token. PMX has multiple utilities within the protocol, which are as follows:
- Protocol fee discounts for Traders
- Keeper incentivization
- Liquidity mining rewards for Traders and Lenders
- Listing fees for introducing new Credit Buckets and trading pairs
- Facilitating consensus among Keepers and Notaries through staking.
Additionally, PMX grants its holders access to special Credit Buckets and trader tiers.
It's important to note that initially, PMX will have limited utility, which will gradually expand as the Primex roadmap progresses. For example, the early release of PMX (ePMX) will be non-transferable, with a fully functional and transferable token replacing it later.
How to trade on Primex Finance?
On the main page of Primex Finance, locate the header menu and click on the "Trade" button to navigate to the Buckets Page.
The Trading Page interface is designed to be very similar to centralized exchange interfaces, so many users who are using CEXs will find Primex Finance as comfortable as their favorite trading platforms.
The trading widget is created to support various types of trades, such as Margin, Spot 1X (without leverage), and Swaps. It allows you to create both Market and Limit orders, as well as set Stop Loss and Take Profit conditions and other parameters, providing you with the flexibility to execute your trading strategy and manage risks.
At the bottom, there are multiple tabs where you can track and modify your open positions and orders, as well as review your positions, orders, and swaps history.
What are credit buckets and how to lend on Primex Finance?
The Credit Buckets are fundamental smart contracts in the Primex protocol, serving as programmable entities through which all margin trades occur. Each Credit Bucket is equipped with a risk profile that outlines liquidity usage rules. These Buckets act as an intermediary between end users, such as Lenders and Traders, and Decentralized Exchanges (DEXs). They allow Lenders to provide liquidity to Traders (to amplify their trading positions) and earn lending interest.
If you've made the decision to become a Lender on Primex Finance, follow this easy step-by-step guide to learn how to lend on Primex Finance.
As mentioned in the Trading section, you'll find an “Earn” button in the header of the Primex App. After a click, you'll be taken to the Buckets Page. There, you'll find a range of options to choose from, and you can even vote for the addition of a new bucket.
Where can you buy Primex Finance?
PMX tokens are currently unavailable to trade on exchanges listed on CoinGecko. Information will be updated when the token is available on centralized/decentralized exchanges.
When can we expect Primex Finance (PMX) tokens to launch?
While CoinGecko cannot provide details on the launch of PMX tokens, you can stay updated on PMX's price movements by adding PMX to your watchlist.