Primex Finance and CoinList Team Up for Points-Based Community Rewards Program

Primex Finance launches a points-based community rewards initiative, the Contribute and Earn Rewards Campaign. Partnering with CoinList, the initiative aims to foster user engagement, boost lending and trading activity within the Primex ecosystem, and distribute ePMX rewards to the top-performing participants. Active users can accumulate points through on-chain lending and trading activities, with the top 200 participants in each two-week stage eligible for rewards.

Primex Finance Launches Points-Based Community Rewards Initiative in Partnership with CoinList

New York, April 8, 2024 - Primex Finance, a non-custodial protocol for margin trading on decentralized exchanges (DEXs), has announced the launch of a new points-based community rewards initiative in partnership with CoinList. The "Contribute and Earn Rewards Campaign" aims to incentivize user engagement, boost lending and trading activity within the Primex ecosystem, and provide active users with opportunities to accumulate points and secure top positions on bi-weekly snapshots.

Incentivizing User Engagement and Ecosystem Growth

To encourage user participation and drive ecosystem growth, Primex has allocated 2% of the total Primex Token (PMX) supply to the campaign. Participants can earn Early Primex Token (ePMX) rewards based on their performance. ePMX serves as an early, non-transferable version of the PMX token, which will be exchanged for fully functional PMX tokens upon the protocol's Token Generation Event later this year.

Leveraging CoinList's Platform and Community

Primex is leveraging CoinList's established platform and community to foster ecosystem activity and attract new lenders and traders to the protocol. The campaign will run for 12 weeks, divided into six stages, each lasting two weeks. During each stage, participants can accumulate points proportional to their lending and trading activities on Primex.

Rewards for Top Performers

At the end of each stage, a snapshot will be taken of contestants' points and on-chain activities, with ePMX rewards distributed to the top 200 participants. To ensure fairness and equal opportunities for all, points are automatically reset after each round.

Joining the Competition

To participate, users must complete the Primex Onboarding Quest to familiarize themselves with the non-custodial spot margin trading protocol. Once registered, they can collect points by fulfilling criteria for Traders and Lenders, as well as achieving various milestones. Detailed campaign guidelines are available on the Primex blog. Participants can track their Lender and Trader performance on the Achievements Page.

Quote from Primex Co-Founder

"The Contribute and Earn Rewards Campaign offers Primex users a unique opportunity to learn the protocol while earning points and climbing the Leaderboard rankings," said Dmitry Tolok, Co-Founder of Primex. "Additionally, the top 200 most active participants will be eligible for ePMX rewards, which can be exchanged for fully functional PMX tokens later on."

About Primex Finance

Established in 2021, Primex Finance is a decentralized protocol for spot margin trading on DEXs. It connects lenders with traders, allowing traders to leverage lender liquidity for leveraged trading on popular DEXs. Primex provides traders with familiar CEX-like trading interfaces and tools to enhance flexibility in their trading strategies. Primex plans to expand leverage use cases in its upcoming v2 release, scheduled for mid-2024, introducing leveraged liquidity provisioning on DEXs, leveraged liquid staking, and support for non-fungible tokens.

Contact Information

CMO
Anton Demenko
Primex Finance
[email protected]

Disclaimer

The information provided in this article is solely for promotional purposes. Readers are advised to conduct thorough research before engaging in any actions related to the content or the company presented. Coin Edition assumes no liability for any losses or damages arising from the use of the content, products, or services mentioned.