Prom (PROM) Cryptocurrency Market Data and Information

What is Prometeus (PROM)?

Prometeus (PROM) is a utility and governance token powering the Prom ecosystem, a decentralized platform focused on the burgeoning GameFi sector. In essence, Prom strives to create a comprehensive suite of tools and services tailored to the unique needs of blockchain-based gaming. This includes a peer-to-peer (P2P) NFT marketplace, rental solutions for in-game assets, a launchpad for new GameFi projects, and various decentralized finance (DeFi) options aimed at providing liquidity and earning opportunities within the gaming sphere. The core vision behind Prometeus is to empower gamers and developers alike by offering a transparent, secure, and efficient platform for trading, managing, and leveraging in-game assets. PROM aims to address key challenges currently facing the GameFi space, such as high transaction fees, limited interoperability, and a lack of user-friendly tools for managing and monetizing in-game assets. By integrating advanced Web3 technologies and fostering a strong community, Prom intends to become a leading hub for GameFi innovation and adoption. Prom seeks to make GameFi accessible to a broader audience by streamlining the user experience and providing intuitive interfaces for interacting with blockchain-based games and assets. By fostering a vibrant ecosystem where gamers can connect, trade, and participate in the development of new gaming experiences, Prom aims to drive the future of blockchain gaming.

How Does Prometeus (PROM) Work?

The Prom ecosystem functions through a combination of interconnected components, each designed to support various aspects of the GameFi landscape. At its core is the peer-to-peer (P2P) NFT marketplace, which facilitates the direct exchange of in-game assets between users without intermediaries. This marketplace utilizes smart contracts to ensure secure and transparent transactions, allowing players to buy, sell, and rent game-related NFTs. Furthermore, Prom integrates the innovative Prom zkEVM, a Layer 2 scaling solution that utilizes zero-knowledge proofs to optimize transaction efficiency and reduce gas fees on Ethereum-compatible networks. The Prom zkEVM aims to alleviate the congestion and high costs often associated with Ethereum, making it more practical for microtransactions and frequent interactions within GameFi applications. Prom also has a launchpad for new GameFi projects, providing a platform for developers to raise funds and introduce their games to the Prom community. This launchpad offers a streamlined process for token sales and NFT drops, giving new projects access to a ready-made audience of potential users and investors. The platform leverages the PROM token to power its various services. PROM is used to cover transaction fees on the NFT marketplace, access premium features like promoting rental offers, and participate in governance decisions through the Prom DAO. This utility creates demand for the token and incentivizes users to actively engage with the Prom ecosystem.

Prometeus (PROM) Key Features and Technology

Prometeus boasts several key features and technological advancements that set it apart in the GameFi space. The integration of Prom zkEVM, a modular ZkEVM Layer 2 solution is a cornerstone of its functionality, using zero-knowledge proofs to significantly reduce gas fees and improve transaction speeds on Ethereum-compatible networks. This makes the platform more accessible and efficient for users engaging in frequent transactions within GameFi applications. Another key feature is the NFT marketplace, designed as a peer-to-peer (P2P) platform to directly connect buyers and sellers of in-game assets. This decentralized approach eliminates custodial interference and provides users with greater control over their assets. The rental solutions within the Prom ecosystem enable players to rent out their NFTs to other users, creating passive income opportunities and increasing the accessibility of valuable in-game items. This feature fosters a more dynamic and collaborative GameFi environment. The governance mechanism, powered by the PROM token, allows token holders to participate in decision-making processes regarding platform upgrades, game listings, and delistings through the Prom DAO. This decentralized governance model ensures that the platform evolves in line with the needs and preferences of the community. Security is a critical aspect of Prometeus, with the implementation of Safe Vaults to protect user assets from potential vulnerabilities and exploits. These vaults provide an extra layer of security, ensuring the safety of user funds and NFTs within the Prom ecosystem. Finally, the interoperability focus is another significant feature, as Prom aims to enable cross-chain functionality, allowing assets and data to flow seamlessly between different blockchain networks.

What is Prometeus (PROM) used for?

The PROM token has a multifaceted utility within the Prom ecosystem. Its primary function is as a means of payment for transaction fees within the NFT marketplace. This includes fees for buying, selling, and renting in-game assets, as well as other platform services. PROM holders also gain access to premium features, such as the ability to promote their rental offers, enhancing visibility and attracting potential renters. Beyond transaction fees, PROM serves as the governance token for the Prom DAO, granting holders the right to participate in decision-making processes that shape the future of the platform. This includes voting on platform upgrades, game listings, and delistings, ensuring that the community has a voice in the direction of the Prom ecosystem. The token also grants access to advanced analytical tools, providing users with valuable insights into NFT valuations, transaction histories, and user behavior. These tools empower users to make more informed decisions and optimize their strategies within the GameFi space. As the native currency within Prom’s Layer 2 solution, Prom zkEVM, PROM facilitates faster and more cost-efficient transactions across Ethereum-compatible networks. This usage supports the scalability of the Prom ecosystem and enhances the overall user experience. PROM also incentivizes community engagement through loyalty programs, staking options, and exclusive NFT offers. These initiatives reward active participants and foster a strong sense of community within the Prom ecosystem. PROM helps in the management of digital identities and authentication processes within the Prom ecosystem. This ensures secure and seamless access to various platform features and services.

How Do You Buy Prometeus (PROM)?

Buying PROM involves navigating the cryptocurrency exchange landscape. The first step is to select a cryptocurrency exchange that lists PROM for trading. Popular options may include centralized exchanges (CEXs) like Binance or KuCoin, and decentralized exchanges (DEXs) like Uniswap or PancakeSwap. The choice of exchange will depend on factors such as geographic location, trading volume, and personal preferences regarding security and user experience. Once an exchange is selected, the next step is to create an account and complete the necessary verification processes, which typically involve providing personal information and identity documents. After the account is verified, users need to deposit funds into their exchange account. This can be done by transferring other cryptocurrencies, such as Bitcoin or Ethereum, or by using fiat currency through a bank transfer or credit card. Once the funds are deposited, users can navigate to the PROM trading pair on the exchange (e.g., PROM/USDT) and place an order to buy PROM. There are typically two main types of orders: market orders, which execute immediately at the current market price, and limit orders, which allow users to set a specific price at which they want to buy PROM. After the order is filled, the purchased PROM tokens will be deposited into the user’s exchange wallet. It is recommended to then transfer these tokens to a more secure personal wallet for long-term storage.

How Do You Store Prometeus (PROM)?

Storing PROM securely is crucial for protecting your investment. PROM, being an ERC-20 token, can be stored in any wallet that supports the Ethereum blockchain and ERC-20 tokens. The most common types of wallets include hardware wallets, software wallets, and exchange wallets. Hardware wallets, such as Ledger and Trezor, are considered the most secure option, as they store your private keys offline, making them resistant to hacking and malware. These wallets typically involve a one-time purchase and require a physical device to authorize transactions. Software wallets, such as MetaMask, Trust Wallet, and MyEtherWallet, are applications that can be installed on your computer or smartphone. These wallets are convenient and readily accessible, but they are generally less secure than hardware wallets, as your private keys are stored on your device. It’s important to choose a reputable software wallet and take precautions to protect your device from malware and unauthorized access. Exchange wallets are the wallets provided by cryptocurrency exchanges. While convenient for trading, they are not recommended for long-term storage, as you do not have control over your private keys, and the exchange could be vulnerable to hacks or security breaches. If you choose to store PROM on an exchange, it’s best to do so only for short periods and transfer your tokens to a more secure personal wallet as soon as possible. Regardless of the type of wallet you choose, it’s essential to back up your private keys or seed phrase and store them in a safe and secure location. This will allow you to recover your wallet if your device is lost or damaged.

Future Outlook and Analysis for Prometeus (PROM)

The future outlook for Prometeus (PROM) hinges on the continued growth and adoption of the GameFi sector, as well as the successful implementation of its ambitious roadmap. The potential for PROM to establish itself as a leading utility and governance token within the GameFi ecosystem is significant, given its focus on providing essential tools and services for both gamers and developers. The Prom zkEVM, a Layer 2 scaling solution, addresses a critical challenge in the blockchain gaming space: high transaction fees and slow confirmation times. If successfully implemented and adopted, the Prom zkEVM could significantly enhance the user experience and attract more users to the Prom ecosystem. The success of the NFT marketplace, which facilitates the direct exchange of in-game assets between users, will also be a key factor in determining the future of PROM. By providing a transparent, secure, and efficient platform for trading NFTs, Prom aims to empower gamers and developers alike. However, the GameFi space is highly competitive, and Prom faces competition from other established and emerging platforms. The ability of Prom to differentiate itself through innovative features, strong partnerships, and a vibrant community will be crucial for its long-term success. Furthermore, regulatory developments in the cryptocurrency and GameFi space could impact the future of PROM. Increased regulatory scrutiny could pose challenges, but it could also provide greater clarity and legitimacy to the industry, potentially benefiting well-established platforms like Prometeus. The long-term outlook for PROM will depend on its ability to adapt to the evolving landscape of the GameFi sector, address emerging challenges, and capitalize on new opportunities. Successfully executing its roadmap, fostering a strong community, and maintaining a focus on innovation will be key to achieving its vision of becoming a leading hub for blockchain gaming.

References

• CoinGecko
• CoinDesk