Supercharge your Yields using Prime Protocol with Trader Joe
Trader Joe users are no strangers to venturing forth into a multichain defi world. But what if we told you that you can now access the Trader Joe DEX without having to bridge a single asset?
Look no further! Let's dive into how Prime Protocol can help you trade more efficiently and earn higher yields on Trader Joe. Prime Protocol is a game-changing tool that allows you to borrow assets seamlessly across different chains, eliminating slippage fees and minimizing price risk.
Prime Protocol enables you to hedge against price risk and borrow assets from any supported chain without the need for complex bridging processes. It's as simple as depositing your collateral into Prime on your preferred chain and instantly borrowing the necessary assets for your trades. The best part? Your borrowing power is backed by the total value of your account, regardless of the chain(s) you initially deposited on.
Let's explore a few examples of how you can supercharge your yield using Prime and Trader Joe. Remember, the information provided here is for general informational purposes only and does not constitute financial advice.
Scenario 1: Avalanche
Visit app.primeprotocol.xyz to deposit your assets from various chains, including Arbitrum, Avalanche, BNB Chain, Ethereum, or Moonbeam.
Borrow BTC.b and USDC on Avalanche using Prime Protocol. Your borrowing power is secured by the total value of your Prime account.
If you don't have assets on Avalanche for gas fees, no worries! Use Universal Access on Prime to set the Gas Network to Moonbeam, paying your gas fees in $GLMR and receiving your assets on Avalanche.
Go to https://traderjoexyz.com/avalanche/pool and click on the BTC.b - USDC pool. Connect your wallet, enter the desired amounts, and process your transaction. Congratulations! You are now earning over 103% APR on Trader Joe without slippage fees.
Scenario 2: Arbitrum
Head over to app.primeprotocol.xyz to deposit your assets from various chains, including Arbitrum, Avalanche, BNB Chain, Ethereum, or Moonbeam.
Borrow ETH and USDC on Arbitrum using Prime Protocol. Your borrowing power is backed by the total value of your Prime account.
If you don't have ETH on Arbitrum for gas fees or want to reduce fees, change the Gas Network to Moonbeam on Prime, paying your gas fees in $GLMR and receiving your USDC/ETH on Arbitrum.
Visit https://traderjoexyz.com/arbitrum/pool and click on the ETH - USDC pool. Connect your wallet, enter the desired amounts, and process your transaction. Fantastic! You are now earning over 80% APR on Trader Joe with the collateral borrowed from Prime.
Scenario 3: BNB Chain
Go to app.primeprotocol.xyz and deposit your assets from various chains, including Arbitrum, Avalanche, BNB Chain, Ethereum, or Moonbeam.
Borrow BTC.b and BNB on BNB Chain from Prime Protocol. Your borrowing power is secured by the total value of your Prime account.
If you don't have BNB for gas fees, switch the Gas Network to Moonbeam on Prime, paying your gas fees in $GLMR.
Head to https://traderjoexyz.com/bnb-chain/pool and click on the BTC.b - BNB pool. Connect your wallet, enter the desired amounts, and process your transaction. Amazing! You are now earning a total of over 214% APR on Trader Joe using the collateral borrowed from Prime.
By combining the power of Prime Protocol and Trader Joe, you can unlock more value from your portfolio. Prime's Mainnet dApp includes an "Ecosystem" tab, providing a direct link to Trader Joe's dApp, making it even easier for you to take advantage of trading opportunities.
Prime Protocol's cross-chain technology has revolutionized the accessibility of new trades across different blockchains. These examples are just a glimpse of what's possible with Prime Protocol. Follow Prime on Twitter and join their Discord community to discover more DeFi strategies using Prime!
About Trader Joe
Trader Joe is a leading multi-chain decentralized exchange and the inventor of Liquidity Book, the most capital efficient AMM in DeFi. Trade your favorite tokens, access one-click yield farming and shop for the latest digital collectibles at the Joepegs NFT Marketplace. DeFi has never been easier thanks to Trader Joe.
About Prime
Prime Protocol is the first natively cross-chain prime brokerage. Prime offers borrowing backed by investors’ entire digital portfolios, regardless of asset type or blockchain. Collateral can be deposited on any supported chain, and loans will be made available on any supported chain. This model of interoperability is revolutionary in the DeFi space, where existing infrastructure only supports loans within single blockchain ecosystems, often only backed by a single collateral type.