Prime Protocol is extremely proud and happy to announce that they will now be providing full support and hardening to Avalanche’s testnet chain, Fuji. Also to absorb and digest is that even currently, Avalanche has crossed the staggering one million mark, in the form of transactions processed, that too daily, in the previous month even.
Prime Protocol is building the first natively cross-chain prime brokerage. In general financial lingo, what margin lending means is what Prime offers. In this scenario, it will be loans in the form of an overcollateralized stablecoin.
This will be further backed by the investor’s total and comprehensive digital portfolio, regardless of the type of asset involved, or blockchain, for that matter. To make things easier and more transparent, the way has been set for any support chain to be open to accepting security deposits.
On the other hand, Avalanche is a platform of programmable smart contracts, assisting decentralized applications. Avalanche has created a system where smart contracts can instantly establish and transmit all viable transactions, helping to process thousands of transactions in a single second.
Additionally, on the price front, AVAX faced some downside pressure, but still managed to hold its crucial support at $17. Discover our Avalanche Price Prediction for a possible new crypto boost.
This partnership further helps to significantly reduce the cost factor compared to Ethereum. The glory in this situation is that Avalanche, which can interact with the help of the Avalanche Bridge, is able to make transferring assets from Ethereum to Avalanche twice as fast and really simple.
Therefore, it is now easy to decipher the fact that with Prime Protocol and Avalanche together, every user will benefit immensely. In this position, they will have the ability to deposit their assets into the Prime protocol by tapping into not just Fuji, but pretty much any other testnet they might be using.
The possibility will also open up for users to borrow the necessary funds according to the total value of the guarantee. As they say, comfort will now be with the user to manage everything under one roof.