PrimeFi Lending

PrimeFi is an Aave-style lending and borrowing protocol built for Mersennet. It enables users to supply assets to earn interest and borrow against collateral—powering the DeFi credit layer of the ecosystem.

Overview

Feature	PrimeFi
Model	Aave-style (pool-based)
Supply	Deposit assets, earn variable APY
Borrow	Over-collateralized loans
Liquidations	Automatic when health factor < 1
Status	Contracts built, ready for deployment

info

PrimeFi smart contracts are built and audited. They are ready for deployment to Mersennet testnet. The PrimeFi UI (v2) and liquidator bot are also built and will be deployed alongside the contracts.

How It Works

Supply (Deposit)

1. Approve the PrimeFi pool contract to spend your tokens.
2. Call supply(asset, amount, onBehalfOf) to deposit.
3. Receive aTokens (interest-bearing receipt tokens) in return.
4. Your balance grows as interest accrues—redeem aTokens anytime for underlying + interest.

Borrow

1. Supply collateral first (e.g., WPRIM, USDC).
2. Call borrow(asset, amount, interestRateMode, onBehalfOf).
3. Receive borrowed assets to your wallet.
4. Interest accrues on the borrowed amount. Repay with repay() to reduce debt and free collateral.

Interest Rates

• Variable rate — Fluctuates based on utilization (how much of the pool is borrowed).
• Stable rate (if supported) — More predictable, may have different parameters.
• Higher utilization → higher borrow APY, higher supply APY for lenders.

Liquidations

When a borrower's health factor drops below 1 (e.g., collateral value falls or debt value rises), the position becomes liquidatable:

• Liquidators can repay part or all of the debt.
• In exchange, they receive collateral at a discount (liquidation bonus).
• This keeps the protocol solvent and incentivizes risk management.

Supported Assets (Planned)

PrimeFi will support the core Mersennet assets:

Asset	Use Case
WPRIM	Collateral, supply
USDC	Collateral, supply, borrow
USDT	Collateral, supply, borrow
DAI	Collateral, supply, borrow

Exact support depends on deployment configuration and oracle integration.

Architecture

┌─────────────────────────────────────────────────────────┐
│                    PrimeFi Protocol                      │
├─────────────────────────────────────────────────────────┤
│  Pool (LendingPool)                                      │
│  - supply() / withdraw()                                 │
│  - borrow() / repay()                                   │
│  - liquidationCall()                                     │
├─────────────────────────────────────────────────────────┤
│  PoolAddressesProvider  │  Oracle  │  aToken / debtToken  │
└─────────────────────────────────────────────────────────┘

PrimeFi Components

Component	Description
PrimeFi Contracts	Solidity, Hardhat, Aave-style logic
PrimeFi UI v2	React 19, Vite, wagmi — lending frontend
PrimeFi Liquidator	Node.js bot for monitoring and liquidating unhealthy positions
PrimeFi Omni	Cross-chain lending via LayerZero v2 (contracts ready)

Integration with Mersennet

• PrimeSwap — Borrow stablecoins, swap on PrimeSwap, supply for yield.
• PrimeOrders — Future: collateralize positions, use CLOB for hedging.
• WPRIM — Native token wrapper used as collateral and supply asset.

Deployment Status

Component	Status
Lending contracts	Ready for deployment
PrimeFi UI v2	Built (dist/)
Liquidator bot	Ready
PrimeFi Omni (cross-chain)	Contracts ready

Once deployed, contract addresses will be published in Deployed Contracts.

Related Resources

• PrimeSwap DEX — Swap and provide liquidity
• Deployed Contracts — Contract addresses when live
• Network Information — RPC and configuration