NEW YORK, NY, April 8, 2024 (GLOBE NEWSWIRE) — primex financea non-custodial protocol for margin trading on decentralized exchanges, has announced the launch of a new points-based community rewards initiative in partnership with . coin list.
The goal of the Contribute and Earn Rewards campaign is to encourage user engagement and drive lending and trading activity within the Primex ecosystem. At the same time, the program offers active users a great opportunity to accumulate points and earn top spots in biweekly snapshots. By allocating 2% of the total supply of Primex tokens (PMX) to this initiative, Primex will distribute his Early Primex token (ePMX) rewards to the best performing participants.
As part of the Contribute and Earn Rewards campaign, Primex will leverage CoinList's established platform and its community to drive ecosystem activity and bring new lenders and traders to the protocol. The program will last for 12 weeks starting from his April 8, 2024, and will be spread out in six different stages. Each stage will be held live for two weeks, during which participants will be able to collect points proportional to their on-chain lending and trading activities on Primex.
At the end of each stage, a snapshot of contestants' points and on-chain activity will be taken, and ePMX rewards will be distributed to the top 200 participants of the round. ePMX, an initial non-transferable version of the native PMX token, will eventually be replaced by a fully functional PMX after the protocol's token generation event later this year.
As a result, holders will be able to exchange their accumulated ePMX for PMX.
To ensure the fairness of the contest, points are automatically reset after each round, giving both existing participants and new participants an equal opportunity in the next round.
To participate in the contest, entrants must complete the following conditions: Primex Onboarding Quest So you can get familiar with non-custodial physical margin trading protocols. Once joined, participants can begin collecting points by meeting program criteria and achieving various milestones related to traders and lenders. For more information on these, please see the article Donate and earn rewards campaigns. Primex Blog. Participants can track the performance of lender and trader activities. Achievement page.
The Contribute and Earn Rewards campaign offers Primex users a unique opportunity to learn how to use the protocol while earning points to move up the leaderboard rankings.In addition, the 200 most active Participants will be eligible for ePMX rewards that can be exchanged for fully-featured products “PMX tokens later,” said Primex co-founder Dmitry Torok.
About Primex Finance
Founded in 2021, primex finance is a decentralized protocol for DEX spot margin trading. It connects lenders and traders and allows traders to take advantage of the lender's liquidity to make leveraged trades on the popular DEX. Primex provides traders with a familiar CEX-like trading interface and tools for greater flexibility in their trading strategies. Primex aims to expand the number of use cases available with v2, scheduled for release in mid-2024. With Primex v2, users will have access to new opportunities such as leveraged liquidity provisioning on DEXs, leveraged liquid staking, and expanding supported asset types beyond fungible tokens.
Disclaimer: The information provided in this press release is not a solicitation to invest and is not intended as investment advice, financial advice or trading advice. Before investing in or trading in virtual currencies or securities, we strongly recommend that you exercise due diligence, including consulting with a professional financial advisor.
CONTACT: Anton Demenko info at primex.finance
