Introducing Prime Protocol

TL;DR We’re building Prime, the first natively cross-chain protocol that allows you to borrow against the value of your entire portfolio across all blockchains. It doesn’t matter which chain you deposit collateral on or where you need the loan. You find the yield, we give you the liquidity to chase it.

The Future is Multi-Chain

There is a never ending list of different digital assets you can own, and DeFi is ripe with protocols that allow you to borrow against each of those assets. If you want to finance a new position using Maker or Abracadabra, you have to pick one type of asset as collateral. Every new position means a new line of credit, another ecosystem, another bridge. That didn’t make sense to us: your wallet is the combination of all of your assets. Shouldn’t your entire wallet and the assets, plural, that you own serve as collateral for on demand credit where you need it the most?

Today’s DeFi dApps leave users stuck on a series of siloed islands. Products are wedded to single chains and force users to choose between ecosystems. The result: DeFi users can’t unlock their collateral to its fullest extent. Tomorrow’s “xApps” are natively interconnected. They are chain-agnostic and secular by design. They help users enjoy a natively multi-chain experience without the hassle, complication and capital inefficiency of hopping between fragmented ecosystems.

Enter Prime Protocol

Prime protocol is a one-stop-shop that can meet all of your liquidity needs. As a DeFi investor, you can deposit all of your digital assets into a single protocol, Prime, across different chains, and receive a single revolving line of credit. No matter where your collateral is or where you need the loan, we’ve got you covered.

Prime protocol makes your crypto work for you as collateral regardless of what chain it’s on or what kind of token it is. Rather than borrowing against each asset individually, you can take out a loan on any chain and it will be backed by the collateral value of your cross-assets.

OK, great. What would this actually look like for you?

An Example

Suppose you have $1,000 dollars of ETH on Ethereum L1. It’s currently sitting in Compound earning interest. However, you’re super bullish on a new project that just launched on AVAX and need liquidity to buy the token. You don’t have time to wait for a bridge because the opportunity might be gone.

You deposit your cETH into Prime. You don’t have to sell, and the interest you’re earning from Compound keeps accruing. Then, you switch to Avalanche C-Chain and request a loan of $600 from Prime. You don’t have any assets deposited with Prime on Avalanche, but that’s okay because Prime saw that you deposited $1,000 worth of cETH on Ethereum mainnet.

Your loan would then be instantaneously approved and you would be able to go buy that token on AVAX without needing to sell your ETH or having to use a slow bridge to move your assets between chains.

So what does all of this mean for you?

Prime protocol gives you access to lower rates, liquidity where you need it most, and high LTV ratios. No need to exit a position on one chain to earn yield on another. Earn yield on both! Simply deposit your ibTokens into Prime, take out a loan on the chain of your interest, and watch your money multiply. With Prime, you get:

• One simple line of credit for your entire portfolio

• The ability to earn yield on interest bearing tokens, even when they are used as collateral

• Capability to get a loan, regardless of chain, without bridging collateral

• Crazy low interest rates and high LTV ratios

We’re building Prime for the entire DeFi community, and we want you to help build this experience with us! If you have any ideas, questions, or just want to chat crypto with some fellow degens, come say hello. Join our discord group or follow us on Twitter to stay up to date with all things Prime.

Introducing Prime Protocol

TL;DR We’re building Prime, the first natively cross-chain protocol that allows you to borrow against the value of your entire portfolio across all blockchains. It doesn’t matter which chain you deposit collateral on or where you need the loan. You find the yield, we give you the liquidity to chase it.

The Future is Multi-Chain

There is a never ending list of different digital assets you can own, and DeFi is ripe with protocols that allow you to borrow against each of those assets. If you want to finance a new position using Maker or Abracadabra, you have to pick one type of asset as collateral. Every new position means a new line of credit, another ecosystem, another bridge. That didn’t make sense to us: your wallet is the combination of all of your assets. Shouldn’t your entire wallet and the assets, plural, that you own serve as collateral for on demand credit where you need it the most?

Today’s DeFi dApps leave users stuck on a series of siloed islands. Products are wedded to single chains and force users to choose between ecosystems. The result: DeFi users can’t unlock their collateral to its fullest extent. Tomorrow’s “xApps” are natively interconnected. They are chain-agnostic and secular by design. They help users enjoy a natively multi-chain experience without the hassle, complication and capital inefficiency of hopping between fragmented ecosystems.

Enter Prime Protocol

Prime protocol is a one-stop-shop that can meet all of your liquidity needs. As a DeFi investor, you can deposit all of your digital assets into a single protocol, Prime, across different chains, and receive a single revolving line of credit. No matter where your collateral is or where you need the loan, we’ve got you covered.

Prime protocol makes your crypto work for you as collateral regardless of what chain it’s on or what kind of token it is. Rather than borrowing against each asset individually, you can take out a loan on any chain and it will be backed by the collateral value of your cross-assets.

OK, great. What would this actually look like for you?

An Example

Suppose you have $1,000 dollars of ETH on Ethereum L1. It’s currently sitting in Compound earning interest. However, you’re super bullish on a new project that just launched on AVAX and need liquidity to buy the token. You don’t have time to wait for a bridge because the opportunity might be gone.

You deposit your cETH into Prime. You don’t have to sell, and the interest you’re earning from Compound keeps accruing. Then, you switch to Avalanche C-Chain and request a loan of $600 from Prime. You don’t have any assets deposited with Prime on Avalanche, but that’s okay because Prime saw that you deposited $1,000 worth of cETH on Ethereum mainnet.

Your loan would then be instantaneously approved and you would be able to go buy that token on AVAX without needing to sell your ETH or having to use a slow bridge to move your assets between chains.

So what does all of this mean for you?

Prime protocol gives you access to lower rates, liquidity where you need it most, and high LTV ratios. No need to exit a position on one chain to earn yield on another. Earn yield on both! Simply deposit your ibTokens into Prime, take out a loan on the chain of your interest, and watch your money multiply. With Prime, you get:

• One simple line of credit for your entire portfolio

• The ability to earn yield on interest bearing tokens, even when they are used as collateral

• Capability to get a loan, regardless of chain, without bridging collateral

• Crazy low interest rates and high LTV ratios

We’re building Prime for the entire DeFi community, and we want you to help build this experience with us! If you have any ideas, questions, or just want to chat crypto with some fellow degens, come say hello. Join our discord group or follow us on Twitter to stay up to date with all things Prime.