Prime Protocol’s 2023 Year in Review

It was nothing short of a phenomenal year for Prime Protocol. 2023 was the year that Prime officially came to life, pioneering seamless cross-chain liquidity for the first time ever. We can’t thank each and every member of the Prime community enough for believing in the product we’ve built. Let’s take a look back at the 2023 year for Prime Protocol.

Q1 — Build, Build, Build

The first quarter of the year was all about building for the Prime team. Building new ideas isn’t easy — and building a first-of-its-kind crypto product has many challenges to overcome. The team worked incredibly hard to develop and pioneer many of the same ideas that are incorporated into Prime today.

Notable Q1 Events

• Prime team attended first in-person conference at ETHDenver
• Multiple testnet chain integrations (Arbitrum, Optimism)

Q2 — A New Era of DeFi

Prime Protocol launched on mainnet on May 9, 2023 to a resounding success, supporting Arbitrum, Moonbeam, Ethereum, and Avalanche. TVL surpassed $1 Million in just a few days. Over a year’s worth of hard work and dedication finally came to fruition, and Prime was officially operational.

We quickly expanded Prime to support BNB Chain, as well as numerous new assets. We also launched Prime Strategies, partnering with some of the top DeFi protocols across the industry to provide users new ways to utilize Prime Protocol.

After a successful mainnet launch, we launched our revamped Prime Points program, allowing us to track early usage of the protocol amongst the community.

Notable Q2 Events

• Mainnet Launch
• BNB Chain integration
• Added support for BTC & DAI
• Partnered with Stellaswap, Thena, and Trader Joe

Q3 — Expanding Prime Protocol

Q3 brought 3 new chains to Prime — Polygon, Optimism, and Base, expanding the total count to 8 chains. We also introduced Moonbeam Grant Incentives, which allowed Prime users to earn extra rewards for depositing Moonbeam assets into the protocol.

Thanks to a new partnership with DIA oracles, we were able to bring support for liquid staking tokens to Prime.

Q3 also saw Prime Protocol surpass $5 Million in TVL for the first time!

Notable Q3 Events

• Launched Moonbeam Grant Incentives
• Added support for Polygon, Optimism and Base chains
• Launched Prime Points revamp
• Partnered with DIA oracles

Q4 — Looking to the future

Prime Protocol is sitting at an all time high of $13M in TVL going into 2024. We’ve seen some incredible momentum in the crypto market and interest in Prime over the last few months, and we plan to use that momentum to start off the new year strong.

We’ve got some great plans for Prime Protocol in 2024, and we hope you’ll enjoy what we’re building. Thank you to everyone in the Prime Community for the incredible support, and let’s make 2024 the year of cross-chain.

Notable Q4 events

• Added support for LayerZero
• Added support for Celo chain
• Surpassed $10M TVL for the first time (Now at ~$13M)