While many Web3 projects aim to create a completely decentralized mechanism, they find themselves having to still maintain at least some centralized aspects of the platform to ensure security. Just recently, dYdX received backlash from its users after it requested to verify their identity with a webcam. These kinds of centralized aspects often deter users from using DEX as a trading platform as it takes out its main advantage of providing an anonymous and community-managed trading platform.
To provide users with a completely decentralized trading platform, Primex Finance launches its beta, offering a chance for users to experience hands-on the first-ever cross-chain prime brokerage protocol.
Primex’s new beta version includes a wide variety of new features, such as:
- Spot trading without leverage: Primex Traders will now be able to use different types of orders for non-leveraged spot trades in a decentralized manner.
- Primex Splitter: A new mechanism that functions as an aggregation solution that splits up swaps across multiple DEXs and helps users make their trades more efficient by reducing slippage and finding the best swap rates, without any additional fees.
- Position and Order Editing: Introducing the ability for users to edit the deposit, Take Profit/Stop Loss (TP/SL), limit price, and leverage of open orders.
Vlad Kostanda, Co-Founder and CEO of Primex, said that the new prime brokerage protocol offers users open access to a truly decentralized spot margin trading experience across numerous DEXs and blockchains.
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