Place/Date: Kyiv, Ukraine - January 18th, 2023 at 4:45 pm UTC · 3 min read
Contact: Anton Demenko, CMO, Source: PrimexLabs OÜ
Cross-chain prime brokerage protocol Primex Finance rolls out a major update to its application. Launching in two stages, Beta 0.3.0 introduces a variety of new features, as well as improvements and fixes of existing functionalities.
Starting on January 12th, 2023, Phase 1 was exclusively available for Primex Early Users, who could be the first to have a hands-on experience with Beta 0.3.0. From now on, Early Users will get privileged access to all major protocol updates in the future (beginning from Beta 0.3.0). In addition to the chance to test new releases before other community members, participants of the program also enjoy further benefits, such as direct communication with the Primex team and fellow Early Users via Discord, as well as the ability to participate in private challenges and earn exclusive prizes.
On January 18th, 2023, the Primex team will open access for the public to Beta 0.3.0, allowing anyone to launch the application and test the new release without restrictions.
Beta 0.3.0 introduces four new core features. As the first and the most important, Primex now deploys to two new blockchains: the Polygon Mumbai and Polygon zkEVM testnets. Consequently, users can now test Primex by trading and lending digital assets on DEXs across four different blockchains (Ethereum Goerli, zkSync 2.0 testnet, Polygon Mumbai, and Polygon zkEVM testnet). With the new multi-chain functionality, traders and lenders can now swap between different networks via a single interface.
Vlad Kostanda, Primex Finance’s Co-Founder, said:
“When we asked our community which chains we should deploy Primex on, Polygon was by far the top choice among voters. While we were happy about the results, they didn’t come as a surprise for our team. Mumbai is the testnet of Polygon PoS, the Layer 2 blockchain with the highest DeFi TVL that can achieve up to 7,000 TPS. On the other hand, zkEVM is a newer solution that uses ZK-rollups via the ultra-fast Polygon Zero technology to achieve a 90% fee reduction for users on Ethereum’s L2. For these reasons, it makes great sense to deploy Primex on the testnets of these two blockchains.”
Besides the above core features, the Primex team introduced additional changes to the protocol as part of the Beta 0.3.0 update, including:
Founded in 2021, Primex Finance is the first-ever cross-chain prime brokerage protocol that seeks to solve the DeFi market’s liquidity fragmentation issue by enabling spot margin trading backed by lenders across numerous DEXs and blockchains with a totally decentralized trade execution mechanism. In September 2022, the team advanced to the next stage of its roadmap by launching the platform’s Beta release. Recently, the project rolled out Beta 0.3.0, a major update to the protocol introducing a wide range of important features, functionalities, and fixes. For more information, visit Primex’s website and blog.
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