Primex Finance Raises $5.7M Seed Funding to Close the Gap Between DEXs and Lending Protocols
Tallinn, Estonia, 4th February, 2022,
–Primex Finance is pleased to announce that it has closed a $5.7M strategic funding round co-led by Stratos Technologies and CoinFund, with participation from Hypersphere, and GoldenTree Asset Management along with leading liquidity providers including Wintermute, GSR, and LedgerPrime.
Adding to the above participants, joining the seed round are NxGen, Mask Network, Pragma Ventures, Morningstar Ventures, HG Ventures, Formless Capital, Peech Capital, ZBS Capital, Mapleblock, Magnus Capital, and a few notable angel investors.
This strategic investment is one of the key milestones to moving Primex to market, enabling version one of the protocol to launch, which allows leveraged trading in cross-DEX environments. In the initial stage, Primex is already aiming to be deployed on a few chains to bridge their DEXs with liquidity.
“We are excited to have such enormous support from some of the world’s leading investors, trading organizations, and market makers from around the globe,” said Dmitry Tolok, Primex Finance co-founder and VP of Growth. “Having such great partners and expertise onboard will help Primex Finance close the gap between the two biggest DeFi use cases: lending and decentralized exchanges, as well as enabling advanced trader tooling in a truly decentralized way.”
“Primex is a game changer for those looking to run a levered portfolio without going through a centralized exchange or a collateralized lending protocol.” said Rennick Palley, Chief Investment Officer, Stratos Technologies. “Primex replicates many of the capabilities of TradFi prime brokers, but in a way that is composable with other protocols, especially DEXs, and consistent with the philosophy of DeFi.”
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, while lenders then have an opportunity to earn high yields; their interest is generated from margin fees and profits on successful trades.
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.
To learn more about Primex Finance and its upcoming developments, join Primex community:
Website: https://primex.finance/
Twitter: https://twitter.com/primex_official
Telegram: https://t.me/primexfinance
Discord: https://discord.com/invite/tMAK2mVhwf
Medium: https://blog.primex.finance/
Contacts
Co-founder
- Dmitry Tolok
- Primex
- dmitry@primex.finance
