StellaSwap collaboration with Prime, the first natively cross-chain protocol that allows you to borrow against the value of your entire portfolio across all blockchains. After their successful launch supporting 17 assets across 4 networks, Prime is set to revolutionise the way you DeFi.#

What is Prime Protocol?

Prime a cross-chain prime brokerage that allows you to borrow across chains using your entire portfolio, irrespective of where your tokens reside. This simply means that you can collateralize your assets on Ethereum and borrow on Moonbeam, without the token bridges.

Prime solves a key friction in DeFI; fragmented networks. Gone are the days where you’ll need to jump across different blockchain networks manually to chase yields or optimize your portfolio. Without incurring bridge risks, you can finally receive a single revolving line of credit no matter where your collateral is or where you need the loan.

How Can You Supercharge Your DeFi with StellaSwap & Prime?

One of the beautiful things about DeFi is composability, which simply means the ability for you to supercharge your assets across the numerous vaults & pools available in DeFi. On Moonbeam Network, you can use both StellaSwap & Prime to your advantage and maximize the potential of what the ecosystem can offer.

Step #1: Start Depositing Your Assets on Prime

Kickstart your journey by depositing your assets on Prime. Head over to their website and deposit any supported assets. As you’ll be borrowing assets on Moonbeam, it will be ideal to collateralize your assets on either Ethereum, Avalanche or Arbitrum.

Step #2: Borrow Assets on Moonbeam

After depositing your assets on Prime, you can now borrow assets directly on Moonbeam against the total value of your portfolio. Here is a complete guide for depositing and borrowing on Prime: Guide to Prime.

Step #3: Stake on StellaSwap

Ecosystem rewards are now in full force on StellaSwap, which is the recipient of the largest grant allocation for the latest round of ecosystem grants. You can finally supercharge your DeFi by staking your borrowed assets on StellaSwap. Depending on the assets that you borrow, you can stake in the various stablecoin pools and Pulsar pools available.

About StellaSwap

StellaSwap a hybrid DEX that features a standard, stable and concentrated liquidity AMM to facilitate the most optimal price discovery for assets on Moonbeam. As the largest DEX and an integrated DeFi gateway, users can access the ecosystem with ease through our native bridge, swap-for-gas feature, as well as various DeFi opportunities in a click of a button.

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This architecture is a significant departure from today’s multi-instance approaches. Many siloed implementations of an application exist across chains but aren’t able to communicate with each other. With connected smart contracts on Moonbeam, Prime can allow users to borrow against their existing portfolio of assets on other remote chains. It doesn’t need to bridge those assets to Moonbeam.

PARTNERSHIP BENEFITS FOR EACH COMPANY

This represents a major shift forward for Web3 usability. Teams can now offer unified access to assets and services from a single application. Preventing the fragmented user experiences, liquidity, and functionality that is inherent in decentralized applications today.

“Current multi-chain deployments with isolated smart contracts result in a fragmentation of liquidity, features, and user experiences. The connected contracts approach that the Prime team has taken directly addresses this fragmentation. IT gives them the ability to provide superior protocol efficiency and user experiences. I believe we are at the beginning of a big shift in how DeFi protocols are built to handle multi-chain requirements in a unified way. Prime is a leading example of this shift.”—Derek Yoo, Founder of Moonbeam

“Moonbeam has positioned itself to be a gateway for cross-chain connections, joining functionality from remote chains within the EVM universe and the rapidly-growing Polkadot ecosystem. We are extremely excited to collaborate and join the incredibly strong community Moonbeam has built.”—Colton Conley, founder of Prime Protocol

Cross-chain connected applications like Prime are part of the Moonbeam team’s broader vision to create more compelling user experiences by removing the constraints of solo chain development and unlocking true interoperability. Ultimately, built-in interoperability reduces the reliance on traditional bridges as a means of moving assets from chain to chain. Instead, it allows users to tap into functionality from many blockchains through a single application.

This initiative comes on the heels of Moonbeam’s announcement of Harvest Moon, a campaign designed to expand DeFi activity and attract the next wave of connected applications to come build on Moonbeam. The Moonbeam Foundation has indicated that it has allocated up to 1.5% of its native token (GLMR) genesis supply to fund grants as part of the Harvest Moon campaign.

ABOUT Moonbeam

Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. Moonbeam is expected to accumulate developer and user activity from the 80+ projects building DApps and protocols on the network.

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ABOUT 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.

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