Prime Numbers Labs — A Truly Rewarding DeFi Ecosystem

3 min readJun 6, 2024

What is Prime Numbers Labs and what does it solve?

Prime Numbers Labs is a truly rewarding DeFi ecosystem that combines Prime Finance’s lending and borrowing protocol and PrimePort NFT Marketplace with the Prime Numbers NFT Staking System.

Prime Numbers Labs is responsible for creating a multitude of thriving ecosystems. The first is the Prime Numbers XDC Ecosystem, our birthplace and the stepping stone to becoming the entity we are today. Now Prime Numbers Labs is expanding to more EVM blockchains, like Ethereum.Prime Numbers Labs’ portfolio can be divided into four distinct components:

PRNT NFTs possess unique qualities and characteristics. They are the nexus connecting the entire Prime Numbers Labs ecosystem on any network. They offer numerous advantages and user experiences that a regular user does not have, including a system that allows you to stake inside the NFT and earn rewards.
XDC NFTs possess unique qualities and characteristics. They serve as a way of XDC Staking and masternode rewards. The collection receives a share of the fees generated by Prime Finance.
PrimePort is the first NFT Marketplace on the XDC Blockchain. It has a user-friendly interface, and a portion of the secondary sales is distributed to our NFT holders. We created it as a place to trade our NFTs.
Prime Finance is a decentralized finance (DeFi) protocol that enables the borrowing and lending of cryptocurrency, RWAs, and NFTs. It is our heart and the most essential part of the ecosystem.

Token Overview

Token name: Prime Numbers Labs
Token symbol:PRNT
Total supply:9.852.140

The PRNT token can be used in the below scenarios:

Staking:Prime Numbers has a revolutionary staking system where you stake PRNT tokens inside your PRNT NFTs to earn rewards. The only possibility to earn rewards from all our ecosystem is by having PRNT tokens staked on your PRNT NFTs.
DAO Governance:Thanks to our DAO, you can participate in the decisions made in the ecosystem by having PRNT tokens.
PRNT NFTs: The main utility of the PRNT token is to level up your NFT
Prime Finance: Access loans before they become available and advanced analytics.

What are the strengths of Prime Numbers Labs?

Prime Numbers Labs is a prominent player in the DeFi and NFT space, leveraging advanced blockchain technology to offer a range of financial services and products. Here are some of its key strengths:

Comprehensive Ecosystem: Prime Numbers Labs integrates various DeFi and NFT protocols, creating a multifaceted ecosystem. This includes Prime Finance for lending and borrowing, PrimePort for NFT marketplace activities, and unique NFT collections with staking capabilities
Scalability and Speed: Built on the XDC Network, Prime Numbers Labs benefits from high scalability with 2-second block finality and a throughput of 2,000 transactions per second (TPS). This ensures fast and efficient operations, crucial for both DeFi transactions and NFT trades
Low Transaction Fees: Operating on the XDC Network, Prime Numbers Labs enjoys low transaction fees, making it cost-effective for users to engage in various activities such as trading, lending, and borrowing
Innovative Financial Products: Prime Finance offers a pooled liquidity system for lending and borrowing, providing low-risk, passive income opportunities. The integration of NFTs into this framework further distinguishes it from traditional DeFi protocols
Robust NFT Marketplace: PrimePort is a multichain NFT marketplace that supports the creation, trading, and staking of NFTs. This platform is continuously evolving, with plans to integrate additional blockchains such as Ethereum, Polygon, and Kusama, expanding its reach and functionality

Conclusion

Looking ahead, Prime Numbers Labs is well-positioned to continue its expansion and innovation within the DeFi and NFT landscapes. With its strategic focus on scalability, low fees, and interoperability, it aims to attract a growing user base and foster a vibrant, inclusive ecosystem. The platform’s commitment to continuous development and its strong industry relationships further solidify its role as a leader in the decentralized finance space.

Prime Numbers Labs Official Media

Website Telegram Twitter

About Coinstore

Accessibility. Security. Equity.

As a leading global platform for cryptocurrency and blockchain technology, Coinstore seeks to build an ecosystem that grants everyone access to digital assets and blockchain technology. With over 7 million users worldwide, Coinstore aims to become the preferred cryptocurrency trading platform and digital service provider worldwide.

Coinstore Social Media