Funding follows a 10,000+ wallet and 160 M trading volume during Season 1 campaign, a unified across crypto and RWA perpetuals, and a finished CertiK audit — with Season 2 on the horizon.
HongKong, August 2026 — Primit, the perpetual DEX built on Avalanche, today announced the close of a $1M angel round . The round will fund the continued build-out of Primit's proprietary trading infrastructure, ecosystem growth, and the rollout of its V1.1 release.
Primit is built around a single principle: verifiable finance. Trades execute at CEX speed on Primit's self-developed matching engine — built in-house after the team moved away from third-party infrastructure in response to community feedback — while settlement happens transparently on Avalanche C-Chain, with sub-second finality and near-zero gas. No KYC. No custodial intermediaries. Every payout on-chain, every number third-party verifiable.
A product that keeps shipping
The raise caps a stretch of sustained execution:
-
Unified 4bps fee — crypto and RWA perpetuals now trade at one flat rate, with no premium on real-world assets
-
Primit Alpha — a quant and arbitrage dashboard surfacing funding rates and cross-exchange spreads, live alongside API tooling for programmatic traders
-
CertiK audit finished — a full-scope security audit with the industry's standard-setter
-
Ecosystem traction — ecosystem-level cooperation with Avalanche, official partnership with KuCoin Wallet, integration with Bitget Wallet, and public data tracking on DefiLlama
Next up is V1.1: the PLP liquidity vault, VIP fee tiers, and an enhanced broker dashboard.
Season 1: proof of community
Primit's inaugural trading season turned early users into a verifiable on-chain community:
-
10,000+ participating wallets
-
160M Trading volume during the season one
-
$100,000 distributed — every payout settled on-chain and publicly auditable
"Season 1 was never about the prizes — it was a live stress test of our thesis: that traders will show up for a venue that executes fast, charges fairly, and proves everything on-chain," said Jeremy, the CEO. "Our investor shares that thesis, and this round lets us scale it."
"Primit combines the two things that rarely coexist in DeFi: credible engineering and genuine transparency discipline," said the Primit team. "We're backing a team that treats verifiability as a product feature, not a marketing line."
Season 2 is coming
Details are under wraps, but the next season will go bigger — deeper rewards, new mechanics, and a broader playing field. Traders can position early by joining the community now.
About Primit
Primit is a perpetual DEX on Avalanche offering crypto and RWA perpetuals at a unified, powered by a proprietary matching engine — CEX-speed execution with DeFi-transparent settlement. Private. Proven. Compliant.
- Trade: app.primit.io · Follow: x.com/primitforall
- Contact for business and partnership: [email protected]
Note: This post was provided and published on behalf of a client. Publish0x does not guarantee the accuracy of the statements made in this post. The post should not be considered as an Publish0x endorsement of the products, services, or people mentioned. Readers should do their own research before taking any actions related to the company. Publish0x is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release or sponsored post.
