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Primex Finance
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A non-custodial prime brokerage platform offering leveraged trading on DEXs like Uniswap, mixing CEX-like tools with decentralized execution, currently operational on Arbitrum and Polygon networks.

Primex Finance (backed by CoinFund, Wintermute and GSR) is a non-custodial prime brokerage protocol that connects lenders with traders. It empowers traders to amplify their trading positions with leverage on popular decentralized exchanges, or DEXs, such as Uniswap. On Primex, traders can also benefit from CEX-like trading tools and interfaces. The Primex team is dedicated to providing a universally accessible trading and lending platform, empowering users to exchange value in a more effective way.

How it Works

  • Lenders supply liquidity to Credit Buckets and earn yield backed by margin trading fees.
  • Traders lock in their deposits and borrow lender liquidity from Primex Credit Buckets to access leverage.
  • Keepers constantly monitor and execute trades when specific criteria are met.

Primex Current state

Primex is live on two networks - Arbitrum, Polygon, with 7.2K unique users, 257K TVL, 30.5M cumulative trading volume.

Lenders provide liquidity to liquidity pools (Credit Buckets) and earn passive yield.

There are three types of trades currently available for traders:

  • Spot margin. Traders borrow funds from Credit Buckets and swap them for another asset through Uniswap. The purchased tokens are stored in Primex contracts, backing the position. If the price of the purchased asset reaches a critical level, the position is liquidated by decentralized Keepers - the tokens are sold on Uniswap to pay back the debt.
  • Spot 1x. Traders trade on Uniswap with their own liquidity but can automate stop loss and take profit with a decentralized layer of Keepers.
  • Swap. In this mode, Traders can swap their assets without opening positions. Swaps are also available with limits, to automatically execute a Swap at a specific price level.

Traders can use market and limit orders in every trading mode. Keepers (community-hosted bots) are responsible for the decentralized execution of limit orders, conditional closings and liquidations.

Spot margin trading is the first implemented Primex use case for the liquidity borrowed from Lenders. Primex aims to expand the number of use cases, with the next priority being leveraged liquidity providing.

Primex Finance History

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