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Primex Finance Deploys to Arbitrum to Enable Leverage on Its DEXs

Press Releases Crypto News BeInCrypto Primex Finance Deploys to Arbitrum to Enable Leverage on Its DEXs

Primex Finance, a non-custodial protocol for spot margin trading on DEXs, announces new deployment on Arbitrum One.

In addition to being live on Polygon PoS, the current event is an important milestone in Primex’s multichain initiatives. Simultaneously, deploying the protocol to Arbitrum increases users’ flexibility, enhances traders’ and lenders’ user experience, and enables the project to reach an expanded audience.

On the mission of unifying liquidity in the DeFi market, Primex connects lenders with traders to enable spot margin trading on existing decentralized exchanges. While traders can benefit from CEX-like tooling and interfaces, lenders can access high-lending APYs by supplying liquidity to Credit Buckets, specialized smart contract-powered liquidity pools. Besides earning interest on their deposited assets, lenders can also utilize Buckets to diversify their portfolio based on their risk appetite.

As a key protocol feature, Primex Finance facilitates spot margin trading in the ecosystem with decentralized trade execution. Instead of central limit order books (CLOBs) and other centralized backends, a Keepers network is responsible for executing automated trades and liquidating traders’ unprofitable positions that fall below the maintenance margin.

In the future, Primex aims to expand the protocol’s functionalities with other DeFi-based leveraged operations beyond non-custodial spot margin trading.

Arbitrum One is a prominent layer 2 scalability solution that utilizes Optimistic rollups to achieve enhanced throughput while relying on Ethereum’s decentralization and security for transaction finality. By batch-processing transactions on the second layer, the L2 chain offers users inexpensive gas fees and lightning-fast block times. With over $7 billion TVL and 14.1 million unique addresses, it is the largest market for decentralized finance.

“The recent deployment on Arbitrum translates into an important milestone for Primex. It makes the protocol multichain, offers users more options to lend and trade at reduced gas fees and fast confirmation times, and provides lenders

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Author: BeInCrypto Team

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