Primex Finance Raises $5.7M Seed Funding to Close the Gap Between DEXs and Lending Protocols

Tallinn, Estonia--(Newsfile Corp. - February 4, 2022) - Primex Finance^[1] is pleased to announce that it has closed a $5.7M strategic funding round co-led by Stratos Technologies^[2] and CoinFund^[3], with participation from Hypersphere^[4], and GoldenTree Asset Management^[5] along with leading liquidity providers including Wintermute^[6], GSR^[7], and LedgerPrime^[8].

Adding to the above participants, joining the seed round are NxGen^[9], Mask Network^[10], Pragma Ventures^[11], Morningstar Ventures^[12], HG Ventures^[13], Formless Capital^[14], Peech Capital^[15], ZBS Capital^[16], Mapleblock^[17], Magnus Capital^[18], and a few notable angel investors.

Primex

To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8506/112667_d83c93d0c4efdb41_001full.jpg^[19].

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.

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_officialTelegram: https://t.me/primexfinanceDiscord: https://discord.com/invite/tMAK2mVhwfMedium: https://blog.primex.finance/^{[20][21][22][23][24]}

Contact:Dmitry TolokCo-founderdmitry@primex.finance^[25]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112667^[26]

References

1. ^{^} Primex Finance (www.newsfilecorp.com)
2. ^{^} Stratos Technologies (www.newsfilecorp.com)
3. ^{^} CoinFund (www.newsfilecorp.com)
4. ^{^} Hypersphere (www.newsfilecorp.com)
5. ^{^} GoldenTree Asset Management (www.newsfilecorp.com)
6. ^{^} Wintermute (www.newsfilecorp.com)
7. ^{^} GSR (www.newsfilecorp.com)
8. ^{^} LedgerPrime (www.newsfilecorp.com)
9. ^{^} NxGen (www.newsfilecorp.com)
10. ^{^} Mask Network (www.newsfilecorp.com)
11. ^{^} Pragma Ventures (www.newsfilecorp.com)
12. ^{^} Morningstar Ventures (www.newsfilecorp.com)
13. ^{^} HG Ventures (www.newsfilecorp.com)
14. ^{^} Formless Capital (www.newsfilecorp.com)
15. ^{^} Peech Capital (www.newsfilecorp.com)
16. ^{^} ZBS Capital (www.newsfilecorp.com)
17. ^{^} Mapleblock (www.newsfilecorp.com)
18. ^{^} Magnus Capital (www.newsfilecorp.com)
19. ^{^} https://orders.newsfilecorp.com/files/8506/112667_d83c93d0c4efdb41_001full.jpg (orders.newsfilecorp.com)
20. ^{^} https://primex.finance/ (www.newsfilecorp.com)
21. ^{^} https://twitter.com/primex_official (www.newsfilecorp.com)
22. ^{^} https://t.me/primexfinance (www.newsfilecorp.com)
23. ^{^} https://discord.com/invite/tMAK2mVhwf (www.newsfilecorp.com)
24. ^{^} https://blog.primex.finance/ (www.newsfilecorp.com)
25. ^{^} dmitry@primex.finance (www.newsfilecorp.com)
26. ^{^} https://www.newsfilecorp.com/release/112667 (www.newsfilecorp.com)