Testnet Guide — Primex Finance
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Introduction
Primex Finance (Twitter: https://twitter.com/primex_official) is a multichain prime brokerage protocol allowing traders to use decentralized lender liquidity to margin trade cross-DEX, with totally decentralized trade execution as opposed to crypto derivates platforms.
They are backed by Coinfund, Stratos Technologies, Golden Tree, and many others.
Rules
Primex is currently having a early users program for their incentivized testnet.
You can sign up at https://primex.finance/earlyuser. We’ll cover trading and liquidity providing in the guide so you might want to sign up as Liquidity provider and Trader.
Make sure to join their discord at https://discord.gg/tMAK2mVhwf and get your early roles by reacting to the message at #get-early-user-role.
Guide
Getting Started:
Primex is on Rinkeby testnet (available by default on MetaMask).
If you need some testnet ETH tokens, get them at the faucet.
Step 1:
Head to https://app.primex.finance/faucet and connect your wallet. Mint the testnet tokens for trading from the faucet.
Step 2:
Let’s start by lending (being a liquidity provider).
Go to “Lend”. Then choose “Buckets”.
Click “Deposit” on one of the buckets.
Input the amount to deposit and confirm.
To withdraw, go to “Deposits”.
Click “Withdraw” and input amount. Confirm.
Step 3:
We move on to margin trading (being a trader).
Click “Trade” then “Margin Trading”.
We first try a market order. Enter the amount of WBTC to buy.
We can set the following options for each trade:
- When to take profit/stop loss(auto-execution)
- What DEX to use (Uniswap, SushiSwap, or Primex automatic selection of DEX)
- Leverage (2x, 5x, custom)
First decide the take profit price and stop loss price.
Then the DEX to trade on.
Finally we choose our leverage level.
To confirm the order, click “Open Position”.
If you want to close your position, go to “Open positions”.
Step 4:
Next we try a limit order. Enter the amount and the limit price.
Go through the same options and “Create Limit Order”.
If you want to cancel your order, go to “Limit Orders”.
That’s all for the guide. If you found any bugs, let the team know by submitting the form,
