junhyun82
Joined 6 years ago
Karma
1
Submissions
12
Member since
Aug 19
Builder / Operators of 3 startups. Prev backed by Draper. Proud Cal Alum.
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Comment · 2 years ago
Primedex Project Update and Future Collaboration
Hello Community Members,
I wanted to share an update regarding the Primedex project. After careful consideration, I’ve decided to pause the project to realign my focus and resources.
For those unfamiliar, Primedex was designed to enhance the blockchain space through its innovative exchange credit mechanism. This system aimed to protect users from significant losses, ensuring that no one gets ‘rekt’ during transactions.
While the project is on hold for now, I am still open to exploring future collaborations and discussing new opportunities. If any of you are interested in potential co-founder roles or early team positions for future projects, please feel free to reach out via DM. I’d be delighted to explore any synergies or ideas that align with this vision.
Thank you once again for your support and feedback on Primedex. I look forward to connecting with you and exploring new ventures in the future.
Best regards, Joseph
Comment · 2 years ago
So using the example above. You lost USD 10,000 and you get USD 10,000 Credit that you have to earn out. You happen to face bad luck and a series of bad trading decisions. Instead of earning USD 10,000, you actually lose USD 2000 more. The next month, the USD 2000 is credited given the period to earn back the USD 10,000 has lapsed and now you have a chance to earn back USD 2,000.
Comment · 2 years ago
The exchange does but you have to earn it.
Example
So lets say you have a 10,000 USD perp call position on BTC. You are levered (lets say 10x). You suddenly get rekt because of some news. Your PnL is -10,000 USD with the DEX and we will give you USD 10,000 exchange credit at the end of the month. The following month when you trade, you can earn back the credit to withdraw by having at least USD 10,000 positive PnL. There is not limit to how much you use to trade so if you are a whale, you can have a 100K position and earn 10% which would allow you to get you to realize your USD 10,000.
Comment · 5 years ago
Search DeFi products by DeFi product name or Activity
Real-Time TVL Updates and ranked by TVL.