Primex Finance Announces Community Rewards Campaign via CoinList
Premex Financea non-custodial protocol for margin trading on decentralized exchanges, announced the launch of a new points-based community rewards initiative in collaboration with: Coin List.
The goal of the Contribute and Earn Rewards campaign is to encourage user engagement and drive lending and trading activity within the Primex ecosystem. At the same time, the program provides an excellent opportunity for active users to accumulate points and achieve top rankings in bi-weekly snapshots. Primex will distribute Early Primex Token (ePMX) rewards to the best performing participants by allocating 2% of the total Primex Token (PMX) supply to the initiative.
As part of the Contribute and Earn Rewards campaign, Primex will leverage CoinList’s existing platform and community to drive ecosystem activity and onboard new lenders and traders to the protocol. Starting April 8, 2024, the program will last 12 weeks and be divided into six stages. Each stage will last for two weeks, during which time participants will be able to collect points proportional to their on-chain lending and trading activity on Primex.
At the end of each stage, a snapshot of participants’ points and on-chain activity will be taken and ePMX rewards will be distributed to the top 200 participants in the round. ePMX, an initial, non-transferable version of the native PMX token, will eventually be replaced by the fully functional PMX following the protocol’s token creation event later this year.
As a result, holders can exchange accumulated ePMX for PMX.
To ensure competition fairness, points are automatically reset at the end of each round, giving both existing and new participants an equal chance at the next round.
To enter the competition, participants must complete the following: Primex Onboarding Quest Become familiar with non-custodial spot margin trading protocols. Once involved, participants can collect points by meeting program criteria relevant to traders and lenders and achieving various milestones. More information can be found in our Contributions and Rewards Campaigns article. Primes Blog. Participants can track their performance on lender and merchant activities at: Achievements Page.
“The Contribute and Earn Rewards campaign provides Primex users with a unique opportunity to learn how to use the protocol while earning points to increase their leaderboard rankings. Additionally, the 200 most active participants will receive ePMX rewards, which It can be exchanged for products with PMX tokens for later use,” said Dmitry Tolok, co-founder of Primex.
About Primex Finance
Founded in 2021, Premex Finance A decentralized protocol for DEX spot margin trading. It connects lenders and traders, allowing traders to leverage lender liquidity for leveraged trading on popular DEXs. Primex offers traders a familiar CEX-like trading interface and tools to increase flexibility in trading strategies. Primex aims to expand the number of leveraged use cases in v2, which is expected to be released in mid-2024. Primex v2 gives users access to new opportunities, including provisioning leveraged liquidity on DEXes, staking leveraged liquidity, and expanding supported asset types beyond fungible tokens.
disclaimer: The information provided in this press release is not an investment recommendation and is not intended as investment advice, financial advice or trading advice. We strongly recommend that you practice due diligence, including consulting with a professional financial advisor, before investing in or trading cryptocurrencies and securities.
