Prime Protocol to Enter the Domain of Avalanche Ecosystem
Prime Protocol is extremely proud and pleased to announce that they would now provide complete support and reinforcement to Avalanche’s testnet chain, Fuji. Also to be absorbed and digested is that even presently, Avalanche has crossed the staggering figure of a million mark, in the form of processed transactions, that too daily, in the previous month itself.
Prime Protocol is in the process of creating the first of its kind natively cross-chain prime brokerage. In general financial jargon, what margin loans signify, is what Prime is placing on offer. In this case scenario, it will be loans in the form of an over-collateralized stablecoin.
This will further be supported by the investor’s total and complete digital portfolio irrespective of the type of asset involved, or blockchain, for that matter. To make matters easier and more transparent, the path has been laid so that any supporting chain will be open to accepting deposits of collaterals.
On the other hand, Avalanche is a platform for programmable smart contracts, assisting in decentralized applications. Avalanche has created a system wherein smart contracts can instantly establish and pass all viable transactions, thereby helping to process thousands of transactions in a single second.
Moreover, on thee price front, AVAX faced bearish pressure but still it managed to hold its crucial support of $17. Explore our Avalanche price predictions for further possible momentum of the crypto.
This partnership further assists in lessening the cost factor immensely compared to Ethereum. The glory in this situation is that Avalanche, which can interoperate with the help of the Avalanche Bridge, is successfully able to make transferring assets from Ethereum to Avalanche twice as fast and really simple.
Therefore, now it is easy to decipher the fact that, with Prime Protocol and Avalanche coming together, every user will benefit tremendously. In this position, they will be equipped with the ability to deposit their assets into Prime Protocol by drawing from not only Fuji but just about any other testnets they may be utilizing.
The avenue will also open up for the users to borrow required funds based on the entire value of the collateral. As they say, the comfort now will be with the user for dealing with everything under one roof.
