Primex Unveils Mainnet Plans: Launching Sept 2023!
• Primex Finance is set to launch its mainnet Beta in September 2023.
• The mainnet will support leveraged trading of Wrapped Ether (wETH), Wrapped Bitcoin (wBTC), Polygon (MATIC), USD Coin (USDC), and Tether USD (USDT).
• Lenders can earn yield by supplying liquidity to Primex Credit Buckets, while traders can borrow assets for spot margin trading.
Primex Finance Mainnet Launch
Primex Finance is thrilled to announce the upcoming launch of its highly anticipated mainnet. With the code frozen and the auditing process underway, the Primex core team is making significant strides toward the release. With independent auditors expected to complete the auditing process in the next 12 weeks, Primex Finance is scheduled to launch its mainnet Beta in September 2023.
The mainnet launch will introduce support for leveraged trading of Wrapped Ether (wETH), Wrapped Bitcoin (wBTC), Polygon (MATIC), USD Coin (USDC), and Tether USD (USDT). These five assets will be available for trading in Primex Credit Buckets, specialized smart contracts that facilitate margin trading on the platform.
Lenders will have the opportunity to earn yield by supplying liquidity to the Buckets, while traders can borrow assets for spot margin trading. In addition to margin trading, Primex’s initial deployment will enable users to engage in non-leveraged trading through Spot1X trades and decentralized limit swaps.
Subsequent Protocol Versions
Following the mainnet launch, the team is actively developing subsequent protocol versions, which will be rolled out in early 2024 to align with the Primex V1 release.
Deployment on Polygon Network
For its initial deployment, Primex will be launching on the Polygon PoS network, leveraging the network’s fast-growing ecosystem.