• Primex Finance is scheduled to launch its mainnet Beta in September 2023, following completion of an independent audit.
• The mainnet will enable leveraged trading of Wrapped Ether (wETH), Wrapped Bitcoin (wBTC), Polygon (MATIC), USD Coin (USDC), and Tether USD (USDT).
• Primex plans to deploy on the Ethereum mainnet as well as one or two additional chains in the near future.
Primex Finance Mainnet Launch
Primex Finance is thrilled to announce the upcoming launch of its highly anticipated mainnet. 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 team is actively developing subsequent protocol versions, which will be rolled out in early 2024 to align with the Primex V1 release.
Supported Assets
For its initial deployment, Primex will be launching on the Polygon PoS network, leveraging the network’s fast-growing ecosystem. 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. Following the mainnet launch, the list of supported assets for these trade types is expected to expand significantly.
Deployment Plans
Beyond the Polygon network, Primex has plans to deploy on one or two additional chains in the near future. The team is actively exploring various options, including Arbitrum and the Ethereum mainnet. Ethereum mainnet stands as a leading DeFi ecosystem with over $26 billion locked in decentralized finance protocols on its mainnet due to its established infrastructure making it attractive choice for large position sizes while also supporting lower position sizes through other L2 blockchains .
Team Comments
“We are thrilled about the upcoming mainnet launch,” said Dmitry Tolok Co-founder of Primex “In meantime ,Primeex continues to be available on test net providing a risk free environment for users.”
Conclusion
The upcoming MainNet Launch of Primer Finance is set for a September 2023 date with support from multiple blockchains like Ethereum’s MainNet but also other L2 Blockchains like Arbitrum and Poloygon’s PoS Network . This project looks very promising with their goal being able leverage multiple networks while still catering towards all size positions .