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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According to a report from CoinTelegraph, nearly forty percent of institutional investors in Canada have exposure to cryptocurrency, as revealed by KPMG. This finding underscores the growing acceptance and adoption of digital assets among institutional investors in the country.
The report indicates that a significant portion of institutional investors in Canada are actively investing in or exploring opportunities in the cryptocurrency market. This trend reflects a shift in sentiment towards digital assets, with more investors recognizing the potential for long-term growth and diversification offered by cryptocurrencies.
KPMG’s findings highlight the increasing mainstream acceptance of cryptocurrencies among traditional investors, as well as the growing interest in blockchain technology and its potential applications across various industries. As institutional investors continue to enter the cryptocurrency market, they are expected to bring additional capital and liquidity, further fueling the growth and maturation of the digital asset ecosystem.
Overall, KPMG’s report signals a significant milestone in the adoption of cryptocurrencies in Canada, indicating that institutional investors are increasingly recognizing the value proposition of digital assets and integrating them into their investment portfolios. This trend is likely to accelerate the broader adoption and mainstream acceptance of cryptocurrencies in the country and beyond.
Source: cointelegraph.com
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Blockchain
BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests
The BounceBit (BB) Megadrop is now open for participation, as announced by Blockchain.News. This event presents an exciting opportunity for users to earn BB tokens by engaging in various activities, including subscribing to BNB locked products and completing Web3 quests.
Participants can join the BB Megadrop by subscribing to BNB locked products or completing Web3 quests, both of which offer different avenues for earning BB tokens. By participating in these activities, users have the chance to accumulate BB tokens and potentially benefit from the rewards associated with the Megadrop.
Subscribing to BNB locked products allows users to earn BB tokens by locking their BNB assets for a specified period. This not only provides users with an opportunity to earn rewards but also contributes to the liquidity and stability of the BounceBit ecosystem.
Additionally, completing Web3 quests offers users an alternative way to earn BB tokens by engaging in various tasks and challenges related to Web3 technology. These quests provide users with a fun and interactive way to learn about blockchain and cryptocurrency while earning rewards in the form of BB tokens.
Overall, the BB Megadrop presents an exciting opportunity for users to participate in the BounceBit ecosystem and earn rewards by engaging in activities that contribute to the growth and development of the platform. As the Megadrop progresses, participants can look forward to additional opportunities to earn BB tokens and potentially benefit from the rewards associated with this event.
Source: blockchain.news
The post BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests appeared first on HIPTHER Alerts.
Cronos, a prominent blockchain platform, has announced a collaboration with KYVE aimed at revolutionizing blockchain data, as reported by CryptoNewsZ. This partnership represents a significant step forward in enhancing the efficiency and scalability of blockchain data storage and retrieval.
The collaboration between Cronos and KYVE seeks to leverage KYVE’s decentralized data storage and retrieval solution to enhance the capabilities of the Cronos blockchain platform. By integrating KYVE’s technology, Cronos aims to address the challenges associated with storing and accessing large volumes of data on the blockchain, such as scalability and cost-effectiveness.
KYVE’s decentralized data storage solution utilizes a network of distributed nodes to store and retrieve data, ensuring high availability and reliability. This approach not only improves the efficiency of data storage and retrieval but also enhances the security and resilience of the blockchain network.
The partnership between Cronos and KYVE is expected to unlock new possibilities for decentralized applications (dApps) and smart contracts built on the Cronos platform. By providing a more efficient and scalable solution for blockchain data management, Cronos aims to attract developers and enterprises seeking to leverage blockchain technology for a wide range of applications.
Overall, the collaboration between Cronos and KYVE represents a significant development in the blockchain industry, highlighting the importance of innovation and collaboration in driving the evolution of decentralized technologies. As the partnership progresses, it is poised to deliver transformative benefits for blockchain data management and accelerate the adoption of decentralized applications and services.
Source: cryptonewsz.com
The post Cronos collaborates with KYVE to revolutionize Blockchain Data appeared first on HIPTHER Alerts.
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