PromPrice

(PROM)

Prom (PROM) is a modular ZK-rollup Layer 2 blockchain built using Polygon's Chain Development Kit (CDK). It aims to achieve high-speed, low-cost interoperability across various blockchain networks, including both EVM and non-EVM chains. Initially, Prom was known as an innovative gaming NFT marketplace designed to make Web3 gaming accessible through play-to-earn (P2E) models, allowing users to buy, sell, and trade unique digital collectibles.

Prom addresses blockchain fragmentation by enabling seamless cross-chain communication between diverse networks. It provides unified identity solutions across decentralized applications (dApps), especially within the gaming and NFT sectors, tackling the issue of scattered digital identities. By leveraging zero-knowledge proofs (zkSNARKs), Prom aims to reduce transaction costs and latency, while benefiting from Ethereum's security, thereby resolving scalability challenges for dApps requiring multichain access.

Prom operates as a decentralized ecosystem, initially using the Ethereum blockchain for NFT creation and trading. As a Layer 2 solution, it employs Polygon's CDK and recursive STARK technology to batch thousands of transactions off-chain, verifying them efficiently using zero-knowledge proofs. Its zkEVM compatibility allows Ethereum dApps to deploy without code modifications. Prom also utilizes Hyperlane infrastructure for secure cross-chain messaging, facilitating communication between networks like Ethereum, BSC, and Arbitrum.

Prom's primary applications include gaming and NFTs, supporting the creation, management, and trading of digital assets, and enabling play-to-earn models where gamers can earn and rent assets. It also offers decentralized identity solutions, allowing users to create unified digital identities for cross-platform gaming and dApp interaction. Additionally, Prom facilitates secure data exchange through its Prometeus marketplace. Its scalable and interoperable infrastructure supports various DeFi and dApp applications, enhancing user experience by addressing issues like high transaction fees and delays.

The PROM token is fundamental to the Prom ecosystem, serving several key utilities. It enables governance, allowing holders to vote on protocol changes and network upgrades, with voting power amplified by vePROM. PROM is used to pay for gas fees within the network and as access fees for certain identity or NFT services. It also facilitates staking, where users can earn passive income and contribute to network security, and supports network participation, allowing users to become validators or delegates in Prom's DAO.

Yes, Prom offers staking opportunities. Holders can stake their PROM tokens via various platforms to earn passive income, while also contributing to the network's security and governance. Staking rewards are distributed based on the amount and duration of PROM staked, and users gain voting rights for protocol upgrades. Typically, there isn't a lockup period for PROM in the Stability Pool, allowing withdrawals at any time unless a liquidation event is in progress. Users should ensure they use a compatible Web3 wallet and official platforms to avoid phishing.