Understanding the intricacies of the Early Primex Token (ePMX) is crucial for anyone interested in the Primex ecosystem. This guide provides an overview of ePMX and addresses common questions related to the token.
For a deeper understanding, refer to the blog post and Primex Tokenomics Paper.
What is ePMX?
ePMX is an early version of the Primex Token (PMX) that is launched as part of the mainnet Beta. It has restricted functionality and is non-transferable, meaning it can only be transferred to and from predefined addresses such as the Treasury and reward distributor.
Difference Between ePMX and PMX
The primary difference between ePMX and PMX lies in their functionalities. PMX is a fully functional token with complete utility in the Primex ecosystem, whereas ePMX is used during the early stages with limited features.
When and How to Get ePMX?
ePMX will be launched with the mainnet Beta. Users can earn ePMX through:
Liquidity Mining: Users can earn ePMX by participating in the Liquidity Mining Program, contributing to the protocol's trading activity and liquidity. For guidance please refer to the instructions for Lender and Trader.
Early Lender and Trader Rewards: Early Lenders and Traders receive ePMX based on their activities and roles.
Keepers’ Rewards: Keepers execute automated actions for the protocol and are rewarded in ePMX.
Token Utility and Value
ePMX can be used to pay Protocol Fees at a discounted rate, aimed at covering protocol costs and accumulating protocol revenue in the Treasury. However, ePMX's functionality will be limited compared to the full utility that PMX will offer upon its launch.
Versions on Different Chains
Primex will launch on multiple blockchains with each chain having its own version of ePMX (e.g., ePMX_Polygon and ePMX_Arbitrum). To maintain a stable total supply, ePMX from older chains will be burnt corresponding to the amount launched on the new chain.
Exchanging ePMX for PMX
Once Primex v1 enters its stable stage, a fully functional PMX will replace ePMX. Holders will be able to exchange their ePMX for PMX, subject to vesting periods.
Conclusion
ePMX provides an early glimpse into the Primex ecosystem, allowing users to earn rewards and participate in the protocol's growth even before the full functionality of PMX is rolled out. By understanding ePMX's role and utility, users can make informed decisions and maximize their engagement with the Primex platform.