Primex Finance Launches New Update Beta 0.3.0, Deploys To Polygon Mumbai and Polygon zkEVM Testnets

Primex Finance Launches New Update Beta 0.3.0, Deploys To Polygon Mumbai and Polygon zkEVM Testnets

Primex Finance, a cross-chain protocol for spot margin trading on DEXs, is elated to announce the launch of a major update to its applications that introduces a variety of new features.

According to the team, the update, Beta 0.3.0, will be launched in two stages, bringing improvements, fixes, and new features. The update began on January 12 2023, with Phase 1, which was exclusively available for Primex Early users. Notably, the early users will get privileged access to upcoming major protocol updates, the ability to participate in private challenges, earn exclusive prizes, and get direct communication with the Primex team and other users through Discord.

Today, January 18, 2023, the Primex team has opened access to Beta 0.3.0 to the public. This allows users and the Primex community to launch the application and test the new release without restrictions.

Notably, the upgrade brings with it four main new features. First, Primex now deploys on two blockchains, namely, Polygon zkEVM and Polygon Mumbai testnets. As a result, users can test Primex by lending and trading digital assets on DEXs across four blockchains, including zkSync 2.0 testnet, Polygon Mumbai, Ethereum Goerli, and Polygon zkEVM testnet. The multi-chain functionality will allow swapping between different networks through a single interface.

Commenting on the project, Vlad Kostanda, Primex Finance’s co-Founder, stated:

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“When we asked our community which chains, we should deploy Primex on, Polygon was by far the top choice among voters. While we were happy about the results, they didn’t come as a surprise for our team. Mumbai is the testnet of Polygon PoS, the Layer 2 blockchain with the highest DeFi TVL that can achieve up to 7,000 TPS. On the other hand, zkEVM is a newer solution that uses ZK-rollups via the ultra-fast Polygon Zero technology to achieve a 90% fee reduction for users on Ethereum’s L2. For these reasons, it makes great sense to deploy Primex on the testnets of these two blockchains.”

Other changes to the Primex protocol as part of the Beta 0.3.0 update include support for the PKX wallet, integration of the QuickSwap v2 DEX on Polygon Mumbai, improved UX, and additional optimization and bug fixes. Users will also experience enhanced trading experience through new bots that periodically synchronize asset prices and the ability to see the date and time when an order or position was created on the trading page.

Since its launch in 2021, Primex Finance has sought to solve the DeFi market’s liquidity fragmentation issue. To solve this problem, Primex enables spot margin trading backed by lenders across numerous DEXs and blockchains.