Why Prime?
Prime solves the aforementioned core 3 issues with a re-engineered L2 optimized for DeFi, while improving on the best features of DeFi.
Native cross-margin account built at the base layer of chain: Users profit & loss positions across protocols offset each other to avoid liquidation - maximum capital efficiency enables profitable strategies that drive increased liquidity
Native CeDeFi implementation of highest throughput / lowest cost order book matching engine built at base layer of chain: Users, especially HFT firms, can reliably interact with order books as they do in CeFi further improving liquidity and driving volume
Single, unified front-end: Option for users to interact with dApps & view their account positions from a single portal, massively streamlining tedious user journeys
Why a New L2?
A native, chain-level implementation is required to enable cross-margining & matching engine in a gas-efficient way. Without this implementation, the cost of related transactions would be 3-4x more expensive and slower.
After exploring available L2 options to deploy Prime as a dApp - the Prime team realized a full re-architecture was necessary to achieve feature parity with CEXs.
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