Primex Finance, a non-custodial protocol for margin trading on decentralized exchanges, announces the launch of a new points-based community rewards initiative in partnership with CoinList.
The goal of the Contribute and Earn Rewards Campaign is to incentivize user engagement, as well as to boost lending and trading activity within the Primex ecosystem. Simultaneously, the program provides an excellent opportunity for active users to accumulate points and claim the top positions on the bi-weekly snapshot. By allocating 2% of the total Primex Token (PMX) supply to the initiative, Primex will distribute Early Primex Token (ePMX) rewards to the best-performing participants.
As part of the Contribute and Earn Rewards Campaign, Primex leverages CoinList’s established platform and its community to foster ecosystem activity and onboard new lenders and traders to the protocol. Starting from April 8, 2024, the program will last for 12 weeks and will unfold in six different stages. Each stage will be live for two weeks, during which participants will be able to collect points proportional to their on-chain lending and trading activities on Primex.
At the end of each stage, a snapshot of contestants’ points and on-chain activities will be taken to distribute ePMX rewards to the top 200 participants of the round. As the early, non-transferable version of the native PMX token, ePMX will eventually be replaced by the fully functional PMX following the protocol’s Token Generation Event later this year.