Primex Finance Launches Points-Based Program to Drive User Engagement

Primex Finance, a non-custodial margin trading protocol, has launched a "Contribute and Earn Rewards" campaign in partnership with CoinList. This 12-week initiative aims to incentivize user engagement, lending, and trading activities within the Primex ecosystem. Participants can earn points for on-chain activities, with top performers receiving Early Primex Token (ePMX) rewards. The program provides an opportunity for active users to claim top positions in bi-weekly snapshots and accumulate ePMX, which will be exchangeable for PMX tokens following the network's Token Generation Event.

Primex Finance's Points-Based Community Rewards Initiative: Incentivizing Growth and Engagement

New York, USA - April 8th, 2024

Primex Finance, a decentralized protocol for margin trading on decentralized exchanges (DEXs), has announced the launch of a groundbreaking points-based community rewards initiative in collaboration with the pioneering platform CoinList. This initiative is designed to bolster user engagement and foster growth within the Primex ecosystem, incentivizing lending and trading activities through a robust rewards system.

Contribute and Earn Rewards: Empowering Active Users

The "Contribute and Earn Rewards" campaign aims to empower active users, rewarding their contributions to the Primex platform with points that can be accumulated and leveraged to secure a place among the top performers in bi-weekly snapshots. Primex has allocated a significant 2% of its total Primex Token (PMX) supply to this initiative, ensuring substantial rewards for the most dedicated participants. Early Primex Token (ePMX) will be distributed to these high-achieving individuals as a testament to their support and contributions.

Strategic Partnership with CoinList: Fostering Ecosystem Growth

Through this strategic partnership with CoinList, a renowned platform known for its robust community and industry expertise, Primex intends to amplify ecosystem activity and attract new lenders and traders to its protocol. The campaign is set to commence on April 8th, 2024, spanning 12 weeks and unfolding in six distinct stages. Each stage will endure for two weeks, presenting participants with ample opportunities to amass points commensurate with their on-chain lending and trading activities on Primex.

Reward Distribution: Recognizing Top Performers

At the culmination of each stage, a snapshot of participants' points and on-chain activities will be captured to determine the rightful recipients of ePMX rewards. These rewards will be bestowed upon the top 200 performers of each round, serving as an acknowledgment of their exceptional contributions to the platform's growth and development. ePMX, initially a non-transferable precursor to the native PMX token, will ultimately be redeemable for fully functional PMX after Primex's Token Generation Event scheduled for later this year.

Equal Opportunities for All: Ensuring Fairness

To ensure a level playing field and fairness in the competition, points will be automatically reset after each round. This mechanism provides existing participants and newcomers alike with equal opportunities to succeed in subsequent rounds, regardless of their point accumulation in earlier stages.

Onboarding Quest: A Gateway to Participation

To embark on this exciting journey, participants are required to complete the Primex Onboarding Quest, a comprehensive guide that familiarizes them with the non-custodial spot margin trading protocol. Upon successful completion, contestants can embark on the path to point accumulation by fulfilling the program's established criteria for Traders and Lenders, as well as achieving various milestones. Detailed information regarding these requirements can be found in the dedicated "Contribute and Earn Rewards" campaign article published on the Primex blog. Participants can also track their performance for Lender and Trader activities through the Achievements Page.

Executive Perspectives: Embracing Engagement

"The 'Contribute and Earn Rewards' campaign provides Primex users with an unparalleled opportunity to enhance their understanding of the protocol while earning points that can propel them up the Leaderboard rankings," remarked Dmitry Tolok, Co-Founder of Primex. "Furthermore, the 200 most active participants will be eligible for ePMX rewards, which can be exchanged for fully functional PMX tokens in the future."

About Primex Finance: A Leader in Decentralized Margin Trading

Primex Finance, founded in 2021, has emerged as a leading decentralized protocol for spot margin trading on DEXs. Its mission is to seamlessly connect lenders with traders, empowering traders to leverage lender liquidity for amplified trading capabilities on popular DEXs. Primex's user-centric approach has resulted in the development of trading interfaces and tools that mirror those found on centralized exchanges, providing traders with the flexibility to execute their trading strategies with confidence.

Primex is currently focused on expanding the use cases for leverage in its upcoming v2 release, projected for mid-2024. This enhanced version is poised to introduce groundbreaking opportunities such as leveraged liquidity provisioning on DEXs, leveraged liquid staking, and a significant expansion of supported asset types beyond fungible tokens.

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