Prime Protocol is Entering the Avalanche Ecosystem!
Prime Protocol is excited to announce support for Fuji, Avalanche’s testnet chain, in our upcoming testnet beta! Avalanche has averaged over a million processed transactions per day in the last month.
Users will be able to deposit funds from Fuji as well as funds from several other testnets into Prime Protocol and borrow against the entire value of their collateral. Prime Testnet will support MetaMask, Coinbase Wallet 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 Avalanche?
Avalanche is an open, programmable smart contract platform for decentralized applications. Smart contracts on Avalanche are able to confirm transactions instantly and can process thousands of transactions per second. Deploying those contracts costs about a tenth of what it costs on Ethereum. Avalanche is built on interoperability, and with the Avalanche Bridge, transferring existing assets from Ethereum to Avalanche is quick and easy.
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!
