Prime Protocol announces support for Fantom on testnet!
Prime Protocol is excited to announce the addition of Fantom Testnet to our upcoming testnet app! Fantom has thousands of active daily users, and Prime welcomes the Fantom community to test the functionality of Prime during the beta period.
Users will be able to deposit Fantom testnet funds, as well as funds from several other testnets, into Prime Protocol, and borrow against the entire value of their collateral. Prime Testnet supports MetaMask and Wallet Connect to give users a variety of options to deposit their funds into the application. Some lucky users who interact with our testnet will be rewarded with a special Prime NFT and other incentives!
What is Fantom?
Fantom is a high-performance, scalable, EVM-compatible and secure smart contract platform. Its consensus mechanism, Lachesis, allows for much higher transaction speeds and improvements, without sacrificing security or decentralization. Fantom is powered by a leaderless Proof-of-Stake protocol to secure the network. Fantom is open-source and permissionless, meaning anyone can use the technology and anyone can participate in securing the network through validator nodes.
What is Prime Protocol?
Prime Protocol is building the first natively cross chain prime brokerage. Similar to margin loans in traditional finance, Prime offers over-collateralized stablecoin loans backed by investors’ entire digital portfolios, regardless of asset type or blockchain. Collateral can be deposited on any supported chain, and loans will be made available on any supported chain. This model of interoperability is revolutionary in the DeFi space, where existing infrastructure only supports loans within single blockchain ecosystems, often only backed by a single collateral type.
We’re building Prime for the entire DeFi community, and we want you to help build this experience with us. Follow the instructions here to join our OG Program to be among the first to try our testnet!
