Blockchain
Primex Launches Alpha Version of Decentralized Prime Brokerage Protocol on Testnet
Tallinn, Estonia–(Newsfile Corp. – May 10, 2022) – Primex Finance, a DeFi platform connecting passive allocators with traders, is launching its first Alpha version on the upcoming testnet. The Alpha offers the vast majority of the features intended for mainnet, marking the last testing stage before full release.
Primex Alpha Testnet is Released
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Primex offers utility to two classes of users: the Lenders and the Traders. Lenders take their assets and supply them into buckets with different assets and trading rules. The rules limit how Traders can use the funds they borrow from these buckets, indicating which pairs they can use and what is their max leverage.
The primary benefit for traders using Primex is that they can access leverage trading and other trading tools on-chain, without using derivatives and in a completely decentralized way. Lenders in their turn have an opportunity to generate significantly higher interest compared to regular lending platforms, as it’s backed by trading profits and fees. Because trades are conducted through Primex smart contracts and not their trader personal wallets, the traders do not need to collateralize their margin debt, only lock their initial trading deposit on a Primex smart-contract. This is similar to margin trading on centralized exchanges, where the platforms know that the trading positions will remain liable to liquidation.
Buckets and Traders in Primex are evaluated by community-nominated notaries, special community members who have the expertise to assess the activity on the platform. High on-chain reputation and history of success makes it more likely that traders will be allowed into riskier buckets. For lenders, higher leverage equals higher yield than on regular DeFi lending platforms, with little added risk.
The Primex Alpha release includes all the core functionality of the platform, with three initial buckets available for Lenders. These use test ERC-20 tokens that can be minted from the Primex faucet. Lenders can provide funds, see their balances and history of actions. Traders will be able to borrow these tokens and conduct complex trading operations with stop loss and limit orders. While this first stage doesn’t involve real money, attracting testers to use the system and find out potential bugs is critical for the platform’s success.
“It’s been a few months after we started the development process and finally, we’re launching the Primex Alpha, the first major step toward mainnet launch,” said Vlad Kostanda, co-founder of Primex Finance. “The Alpha includes all the key features for mainnet, offering both Lenders and Traders a fun playground to check out the platform and test its functionality.”
Primex will also be running its anticipated referral program where all the referred liquidity/trading volume will later be rewarded. The connections between ERC-20 addresses will be stored on-chain in a smart contract and eventually be airdropped to support early governance.
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About Primex
Primex is the cross-chain prime brokerage liquidity protocol for cross-DEX margin trading with trader scoring mechanisms.
In Primex, lenders provide liquidity to pools where traders can use it for leveraged trading in cross-DEX environments.
Lenders will have the flexibility to manage their risks and return by providing liquidity to a variety of risk buckets, subsets of liquidity pools that regulate trader risk strategies.
Contact:
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Blockchain
UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System
The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.
Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.
“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”
ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.
“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”
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