Introducing Universal Access on Prime Protocol: Originate a transaction on any chain!
Prime Protocol is excited to announce “Universal Access”, a new feature that will allow users to originate a transaction on any chain supported on the platform! We truly believe cross-chain is the future of DeFi, and we’re looking forward to all of the future use cases of Prime. Universal Access is our way of solidifying Prime as the fastest solution for borrowing cross-chain!
User experience in DeFi has always suffered from the disabilities of accessing new blockchains, and we think Universal Access is the universal solution to the problem. By providing access to any chain supported on Prime by using the assets you already own, users will no longer face the struggles that arise when trying to enter new ecosystems.
What is Universal Access?
Universal Access on Prime will allow users to originate a transaction from any supported chain on the platform. Users who wish to initiate a transaction on a chain that normally takes a longer amount of time to reach finality (ex. Ethereum or Polygon) will instead be able to initiate that transaction on a chain that is much faster and cheaper (ex. Moonbeam or Avalanche)! This feature allows for withdrawals or borrows to be requested on any chain, therefore granting users access to assets faster than anywhere else!
Another possible use case for Universal Access will allow users to access liquidity on a chain without ever having a single asset on that chain! Let’s say a user wants access to a brand new yield farm on Polygon, but doesn’t have any $MATIC for gas fees. With Universal Access, the user can request a borrow of $MATIC from Polygon with any asset they hold on Prime, and use the $MATIC they receive to pay for gas for a borrow of the asset needed on Polygon to enter the yield farm. Users can receive assets in as little as two clicks on Prime.
Universal Access marks a major milestone in Prime Protocol’s mission to simplify the DeFi landscape. With this innovative solution, we are providing a seamless and efficient cross-chain experience, offering users unparalleled access to liquidity. The team is proud to be at the forefront of this revolution, and we believe that Universal Access will have a lasting impact on the future of DeFi. We are confident that this feature will help users navigate the DeFi space with ease, making Prime the go-to platform for all their cross-chain borrowing needs.