Prime Numbers Labs (PRNT) is a blockchain-centric organization focused on decentralized finance (DeFi) and non-fungible tokens (NFTs) on the XDC Network. It operates a lending and borrowing protocol, Prime Finance, which integrates NFTs and offers a pooled liquidity system. Additionally, it features a Liquid NFT Staking System, combining liquid staking with NFTs. PRNT tokens are the native tokens of Prime Numbers Labs and can be traded on various exchanges, including MEXC.
Prime Numbers Labs Ecosystem (PRNT) is a cryptocurrency used within a decentralized finance (DeFi) ecosystem. The ecosystem combines lending and borrowing protocols with a non-fungible token (NFT) marketplace and an NFT staking system. Here are the key ways PRNT is used:
Lending and Borrowing: PRNT tokens are part of the Prime Finance protocol, which allows lenders to generate stable income through interest on loans. The protocol operates on the XDC network and is compatible with most Ethereum Virtual Machine (EVM) networks.
NFT Marketplace: The ecosystem includes the PrimePort NFT Marketplace, where users can buy, sell, and trade NFTs. This marketplace is integrated with the lending and borrowing protocol, enhancing the overall functionality of the ecosystem.
NFT Staking System: The Liquid NFT Staking System allows users to stake digital assets, merging the flexibility of liquid staking with the benefits of NFTs. This system has various applications, including creating masternodes, rewarding liquidity providers, and token staking rewards.
- Trading: PRNT tokens can be traded on centralized and decentralized exchanges, such as MEXC, where the most active trading pair is PRNT/USDT.
In summary, PRNT is used to facilitate lending, borrowing, NFT trading, and staking within the Prime Numbers Labs Ecosystem, providing a comprehensive DeFi experience.
To store Prime Numbers (PRNT) tokens securely, you have several options:
Centralized Exchange Wallets: You can store your PRNT tokens on the wallets provided by centralized exchanges like Binance Wallet. This is a convenient option, but keep in mind that these wallets are always online, making them more vulnerable to hacking risks.
Crypto Wallets: You can use third-party crypto wallets like Trust Wallet, which offer better security than exchange wallets. These wallets are also online, but they are generally more secure than exchange wallets.
Cold Wallets: For long-term storage and maximum security, consider using cold wallets. These are offline wallets that protect your tokens from hacking risks. There are two types of cold wallets:
- Paper Wallets: Generate public and private keys offline and print them on paper. This method is highly secure but less convenient.
- Hardware Wallets: These are physical devices that store your crypto addresses and keys. They are highly secure and preferred by many users for storing large amounts of tokens.
It is essential to choose a storage method that balances convenience and security based on your needs and risk tolerance.
To buy Prime Numbers (PRNT) tokens, you need to follow these steps:
Choose a Centralized Exchange (CEX): Select a CEX that supports Prime Numbers (PRNT) trading, such as MEXC Global, Uniswap (V3), or ProBit Global. Ensure the exchange is available in your region and compliant with local regulations.
Register and Verify Your Account: Sign up for an account on the chosen CEX's official website or app. Verify your identity by providing a government-issued identification document and enable two-step verification for added security.
Buy a Supported Cryptocurrency: Use fiat to purchase a cryptocurrency that can be easily traded for PRNT, such as USDT, ETH, or BNB. You can use the CEX's over-the-counter (OTC) trading service or a financial service platform like PayPal or Robinhood (for US residents).
Transfer Funds to the CEX: If the CEX supports both fiat purchases and PRNT trading, you can proceed to the next step. Otherwise, transfer the purchased cryptocurrency to the CEX that supports PRNT trading.
Buy PRNT in the Spot Market: Use the transferred cryptocurrency to buy PRNT in the spot market on the chosen CEX.
Alternatively, you can use a Decentralized Exchange (DEX) like xSwap, built on the XDC Network, to purchase PRNT.