Xianfeng Cross chain Bulk Commodity Broker AgreementPrimex FinanceAnnounced in zkSync 2.0 to detect the online deployment of its recently released beta version. The integration will be carried out at the end of October 2022, which will lead to a good transaction rate for customers to conduct margin transactions in DEX. At the same time, traders will be able to take advantage of the relatively low natural gas cost and relatively high security level of Primex Beta.

The Layer 2 (L2) protocol of zkSync uses zero expertise (ZK) induction technology to conduct low-cost and fast transactions, which is a promising solution to improve the scalability of Ethernet currency. At the same time, it mainly inherits the first layer (L1) security level through the Ethernet currency vm virtual machine (EVM) compatibility mode.

Known by Vitalik Buterin as a potential long-term winner of the "business scale war", ZK concluded that demand exceeds supply among Web3 developers. As the top solution in this field, zkSync has more than 100 new projects focusing on the upcoming release of zkSync2.0 on the network, including sophisticated DeFi investors and infrastructure construction service providers, such as Uniswap, Curve, Year, Chainlink, the Graph, Argent and Gnosis.

In the task of defragmenting its DeFi sales market, Primex Finance is one of the projects seeking to integrate its ecosystem with zkSync modularity. Later in October, Primex will test the beta version of its platform deployed online in zkSync 2.0, which has been running since February 2022.

With the upcoming zkSync integration, Primex Finance hopes to enrich the functions of DEX by completing sporadic spot margin transactions. Primex is not an independent ecosystem. It can operate above many blockchain technology exchanges in zkSync, allowing consumers to browse a wider range of traders' tool properties.

At this stage, users can play the role of lender and trader on Primex Beta. For example, the lender gives digital currency to the liquidity pool called credit buckets, and traders use this liquidity pool to borrow funds for the margin trading positions. As a swap for liquidity, the lender can obtain a high return encouraged by the guarantee fee. In addition, because each individual credit bucket is a different set of main risk parameters, such as encouraged assets and large leverage ratio, the latter participant can effectively control its risk.

Unlike most DEX, which has the function of collateral transaction, Primex uses unlicensed escrow Internet to replace the dense order book and other back pages, and implements completely scattered transactions. The custodian shall be responsible for the implementation of position settlement, stock stop loss, profit or price limit orders on the chain.

"In the long run, ZK concluded that it has great development potential in dealing with the scalability of Ether, and zkSync is one of the advanced solutions in this field. Taking full account of the large and highly liquid DEX has been looking for deployment on such an L2, and our team is very wise to deploy Primex on zkSync's test network. In that way, we can introduce a truly fragmented feeling of spot margin trading, so that more Dmitry Tolok, founder of Primex Finance, said: "Our customers can benefit from the lower natural gas cost and faster transaction rate provided by ZK's inductive technology.