- Prime Protocol has officially launched on Mainnet.
- The protocol aims to revolutionize cross-chain DeFi and provide users with easier access to assets across different blockchains.
Prime Protocol introduces cross-chain DeFi capabilities
Prime Protocol, which originated as an idea in early 2022, has successfully launched on Mainnet, marking a significant milestone for the DeFi ecosystem. The protocol, developed by Prime Founder Colton Conley, addresses the challenges of navigating across blockchains in the DeFi space and introduces innovative cross-chain capabilities.
Prime Protocol, the first cross-chain DeFi protocol that lets users easily manage assets across multiple chains, has joined the Polkadot ecosystem, successfully launching on the @MoonbeamNetwork parachain.
This technology is revolutionary in the crypto space, and will… https://t.co/0JueKviH3e
— Polkadot (@Polkadot) May 10, 2023
Universal Access and Prime Early Adopter Program enhance user experience
Prime Protocol introduces two notable features: Universal Access and the Prime Early Adopter Program. Universal Access allows users to initiate transactions on any supported chain using assets they already own on a different chain as gas fees. This feature simplifies access to desired blockchains for trading purposes, enhancing the user experience.
Additionally, the Prime Early Adopter Program rewards users with points based on their transactions, providing incentives for engagement and participation in the Prime ecosystem.
The launch of Prime Protocol on Mainnet brings to fruition its vision of enabling users to deposit assets from any supported chain and borrow assets from other chains based on their overall account value. This revolutionary technology eliminates friction and fragmentation between chains, facilitating the spread of wealth across the crypto ecosystem. By reducing barriers, Prime Protocol empowers users to maximize the value of their portfolios and navigate the DeFi landscape with greater ease.
The protocol’s launch includes essential features that have undergone thorough testing with the support of the Prime community, including Money Markets and the core cross-chain functionality. The phased rollout begins with support for Arbitrum, Avalanche, Moonbeam, and Ethereum, with plans to expand to more chains and assets in the near future. The Prime team welcomes input from the community regarding desired blockchains and assets for integration into the platform.
To further engage users and reward their participation, Prime Protocol introduces the Prime Early Adopter Program. Users can accumulate points based on their transactions, with points earned through deposits and borrows. The program offers accelerated point accumulation rates based on the duration that assets are kept in the protocol, incentivizing long-term engagement and participation.
The points and earning rates are automatically calculated and displayed on the user’s dashboard, providing transparency and gamifying the experience.
As Day 1 of Prime on Mainnet signifies a significant milestone, the Prime team emphasizes that this is just the beginning. The protocol’s roadmap includes plans for supporting additional asset types, chains, and features in the near future. With its commitment to continuous innovation and community feedback, Prime Protocol aims to redefine DeFi by offering native cross-chain prime brokerage services.
The launch of Prime Protocol on Mainnet sets the stage for a transformative era in managing portfolios and accessing assets across diverse blockchains. Follow Prime Protocol on social media channels to stay informed about the latest developments and updates from the project.