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Cross-Chain Master Brokerage Protocol Primex Finance is rolling out a major update to its app. Launched in two stages, beta 0.3.0 introduces a variety of new features, as well as improvements and fixes to existing features.
Primex Finance Beta 0.3.0 is now open to the public
Starting January 12, 2023, Phase 1 was exclusively available to early Primex users, who could be the first to have hands-on experience with Beta 0.3.0. From now on, early adopters will have privileged access to all major protocol updates in the future (beta 0.3.0 onwards). In addition to the ability to test new releases before other community members, program participants also enjoy other benefits, such as direct communication with the Primex team and other early adopters via Discord, as well as opportunity to participate in private challenges and win exclusive prizes.
On January 18, 2023, the Primex team will open public access to Beta 0.3.0, allowing anyone to launch the app and test the new version without restrictions.
Beta 0.3.0 introduces four major new features. As the first and largest, Primex is now rolling out on two new blockchains: Polygon Mumbai and Polygon zkEVM testnets. Therefore, users can now test Primex by trading and lending digital assets on DEXs on four different blockchains (Ethereum Goerli, zkSync 2.0 testnet, Polygon Mumbai and Polygon zkEVM testnet). With the new multi-channel functionality, merchants and lenders can now switch between different networks through a single interface.
Vlad Kostanda, co-founder of Primex Finance, said:
“When we asked our community which channels we should deploy Primex on, Polygon was by far the top choice among voters. Although we are happy with the results, they came as no surprise to our team. Mumbai is the testnet of Polygon PoS, the layer 2 blockchain with the highest DeFi TVL of up to 7,000 TPS. On the other hand, zkEVM is a newer solution that uses ZK rollups via ultra-fast Polygon Zero technology to achieve a 90% fee reduction for Ethereum Layer 2 users. For these reasons, it makes perfect sense to deploy Primex on the testnets of these two blockchains.
In addition to the core features above, the Primex team introduced additional changes to the protocol as part of the Beta 0.3.0 update, including:
- Support for OKX wallet, which users can now use to connect their wallets to Primex alongside MetaMask and WalletConnect
- The integration of QuickSwap v2 DEX on Polygon Mumbai
- Improved trading experience via a new bot that periodically syncs asset prices on the testnet with the mainnet
- Improved UX for downloading trading history
- The ability to see the date and time an order or position was created on the trading page
- Bug fixes related to the translation of some components of the Primex app and translation delays after a user changed language
- Additional optimizations and bug fixes
Founded in 2021, Primex Finance is the first-ever cross-chain prime brokerage protocol that seeks to solve the liquidity fragmentation problem of the DeFi market by enabling lender-backed spot margin trading on numerous DEXs and blockchains with a fully decentralized trade execution mechanism. In September 2022, the team moved to the next stage of its roadmap by launching the beta version of the platform. Recently, the project rolled out Beta 0.3.0, a major protocol update introducing a wide range of important features, functionality, and fixes.