Primex Finance Expands to Arbitrum, Enabling Leverage on DEXs

Nov 27, 2023

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New York, November 27, 2023 — Primex Finance Deploys to Arbitrum to Enable Leverage on Its DEXs

Primex Finance, a non-custodial protocol for spot margin trading on DEXs, has announced its deployment on Arbitrum One. This deployment marks an important milestone for Primex’s multichain initiatives, increasing flexibility for users and enhancing the trading experience. It also allows the project to reach a larger audience.

Primex Finance is on a mission to unify liquidity in the DeFi market by connecting lenders with traders for spot margin trading on decentralized exchanges. Traders benefit from CEX-like tooling and interfaces, while lenders gain access to high lending APYs by supplying liquidity to Credit Buckets, which are specialized smart contract-powered liquidity pools.

One of the key features of Primex Finance is its ability to facilitate spot margin trading with decentralized trade execution. Instead of using central limit order books (CLOBs) and centralized backends, the protocol relies on a network of Keepers to execute automated trades and liquidate unprofitable positions. In the future, Primex aims to expand the protocol’s functionalities to include other DeFi-based leveraged operations.

Arbitrum One is a layer 2 scalability solution that utilizes Optimistic rollups to achieve enhanced throughput while leveraging Ethereum’s decentralization and security. By batch-processing transactions on the second layer, Arbitrum One provides users with inexpensive gas fees and fast block times. With over $7 billion TVL and 14.1 million unique addresses, it is the largest market for decentralized finance.

Primex’s deployment on Arbitrum One is a significant milestone, allowing users to trade and lend with reduced gas fees and fast confirmation times. It also opens up opportunities for Primex to tap into Arbitrum’s large user base and expand its audience. To further accumulate liquidity in Credit Buckets, Primex invites community members to join the Liquidity Mining Program and offers incentives through the Referral Program.

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