NEW YORK, April 8, 2024 — Primex Finance, a non-custodial protocol for margin buying and selling on decentralized exchanges, declares the launch of a brand new points-based neighborhood advantages initiative in partnership with CoinList.

The purpose of the Contribute and Earn Rewards marketing campaign is to encourage consumer engagement and drive lending and buying and selling exercise inside the Primex ecosystem. On the similar time, this system presents energetic customers an amazing alternative to build up factors and earn high spots in biweekly snapshots. By allocating 2% of the entire provide of Primex tokens (PMX) to this initiative, Primex will distribute his Early Primex token (ePMX) rewards to the most effective performing members.

As a part of the Contribute and Earn Rewards marketing campaign, Primex will leverage CoinList's established platform and its neighborhood to drive ecosystem exercise and produce new lenders and merchants to the protocol. This system will final for 12 weeks ranging from April 8, 2024 and shall be unfold out in six completely different phases. Every stage shall be held stay for 2 weeks, throughout which members will be capable of accumulate factors proportional to their on-chain lending and buying and selling actions on Primex.

On the finish of every stage, a snapshot of contestants' factors and on-chain exercise shall be taken, and ePMX rewards shall be distributed to the highest 200 members of the spherical. ePMX, an preliminary non-transferable model of the native PMX token, will ultimately get replaced by a completely useful PMX after the protocol's token technology occasion later this yr.

Because of this, holders will be capable of alternate their gathered ePMX for PMX.

To make sure the equity of the competition, factors are mechanically reset after every spherical, giving each present and new members an equal alternative within the subsequent spherical.

To take part within the contest, members should full the Primex onboarding quest to familiarize themselves with the non-custodial bodily margin buying and selling protocol. As soon as joined, members can start gathering factors by assembly program standards and attaining numerous milestones associated to merchants and lenders. For extra info on these, please see the Contribute and Earn Campaigns article on the Primex Weblog. Individuals can observe the efficiency of lender and dealer actions on the efficiency web page.

“The Contribute and Earn Rewards marketing campaign presents Primex customers a singular alternative to learn to use the protocol whereas incomes factors to maneuver up the leaderboard rankings. As well as, essentially the most energetic members 200 individuals shall be eligible for ePMX rewards that may later be exchanged for totally useful PMX tokens,” mentioned Dmitry Torok, co-founder of Primex.

About Primex Finance

Based in 2021, Primex Finance is a decentralized protocol for spot margin buying and selling of DEXs. It connects lenders and merchants and permits merchants to reap the benefits of the lender's liquidity to make leveraged trades on the favored DEX. Primex gives merchants with a well-recognized CEX-like buying and selling interface and instruments to extend the pliability of their buying and selling methods. Primex goals to develop the variety of use instances obtainable with v2, scheduled for launch in mid-2024. With Primex v2, customers can have entry to new alternatives corresponding to leveraged liquidity provisioning on DEXs, leveraged liquid staking, and increasing supported asset sorts past fungible tokens.

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