Prime Protocol Enhances Cross-Chain Communications with LayerZero
In the ever-evolving landscape of DeFi, addressing the critical issue of the lack of interoperable infrastructure has become very evident over recent months. DeFi users have endured some crippling challenges in the crypto world, marked by significant losses stemming from security breaches and unreliable infrastructure.
At Prime Protocol, we’ve been at the forefront of transforming the ever-evolving cross-chain ecosystem, one where an individual is no longer bound by the constraints and difficulties of navigating between blockchains. Security is the number one priority for our team, and today, we’re reaffirming our commitment to providing a product where users can safely manage their entire cross-chain portfolio in one place with Prime Protocol.
That’s why we’re excited to bring LayerZero to Prime Protocol! LayerZero provides an extra layer of convenience to the protocol, allowing Prime users the choice to use LayerZero or Axelar for their deposit and repay transactions.
What is Prime Protocol?
Prime Protocol is DeFi’s first natively cross-chain prime brokerage. Deposit any asset from any chain on Prime, and borrow any other asset on any other chain backed by the total value of your account. Prime currently supports 8 different blockchains, including Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Moonbeam, Polygon, and Optimism.
The key to growing a cross-chain protocol like Prime is scalability and easing the user experience. Adding LayerZero to Prime will enable the protocol to handle a higher volume of transactions and allow for an easier onboarding process through faster deposits, ensuring that the protocol becomes more accessible to a broader crypto audience.
In order to use LayerZero on Prime Protocol, you must be performing either a deposit or a repay transaction. In the two corresponding windows, you’ll see a dropdown box like the one below, which allows you to choose between LayerZero and Axelar for your transaction.
Every deposit or borrow transaction on Prime Protocol will also earn you Prime Points! Prime Points is a system that offers a quantifiable measure of a user’s contribution to the success of the Prime ecosystem. Read more about the Prime Points program here!
Thank you to the LayerZero team for their help! Be sure to follow Prime Protocol on Twitter and join our Discord to stay up to date with all the latest from Prime!
About Prime Protocol
Prime Protocol is the first natively cross-chain prime brokerage. Prime offers borrowing 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.
About LayerZero
LayerZero is an omnichain interoperability protocol designed for lightweight message passing across chains. LayerZero provides authentic and guaranteed message delivery with configurable trustlessness.
