What is Prom Token and How to Trade in $PROM Spot?

Web3.0’s pillar technology Blockchain has grappled with the challenge of scaling decentralized applications. Which is why many layer 2 chains have emerged and Prom is aiming to bridge that challenge through an innovative infrastructure. 

In this article we will take you through what the Prom network is and how you can invest and trade in its native token called $PROM.

What is Prom Network?

Prom is a high-performance scalable network built on Polygon CDK (Chain Development Kit) that leverages zero-knowledge proof technology to deliver enhanced throughput, reduced transaction costs, and improved security. What sets Prom apart is its seamless integration with Ethereum, requiring no special tools or wallets for developers and users to interact with the network.

Since its mainnet launch on November 21, 2024, Prom has demonstrated impressive performance metrics. The protocol has processed over 25 million transactions and serves more than 2 million unique wallets, showcasing its capability to handle large-scale adoption.

What is the Technology Behind Prom Network?

One of Prom’s most distinctive features is its innovative State Machine design strategy. This approach enables the network to maintain a consistent state while processing multiple transactions simultaneously, resulting in improved performance and reliability. The State Machine design also facilitates seamless interoperability between different blockchain ecosystems.

At its core, Prom employs a sophisticated ZK-Rollup system that processes transactions off-chain while maintaining the security guarantees of the Ethereum mainnet. This architecture allows for significant improvements in transaction speed and cost-efficiency while ensuring complete compatibility with the Ethereum Virtual Machine (EVM).

The network’s ZK-based architecture addresses several critical challenges that have plagued traditional blockchain networks:

1. Scalability: By processing multiple transactions off-chain and generating a single proof of validity, Prom can handle a substantially higher transaction throughput than base layer solutions.
2. Security: The implementation of zero-knowledge proofs ensures that all transactions are cryptographically verified without revealing sensitive information. This approach provides robust security while maintaining transaction privacy.
3. Cost-Efficiency: Through the strategic use of zkSNARKs technology and Polygon’s infrastructure, Prom significantly reduces transaction costs compared to traditional Layer-1 solutions.

What are the Key Features of ‘Prom’ Network?

Prom’s architecture includes several key features that make it stand out:

Prom stands out from other blockchain networks, particularly in the realm of zk rollups, due to several distinctive characteristics:

• Zero-Knowledge Rollups (ZK-Rollups): Prom utilizes zk-SNARKs technology to enhance transaction privacy and efficiency. This allows for off-chain transaction processing while maintaining security and reducing costs.
• Interoperability: The Prom network is designed to facilitate seamless communication between different Layer 1 and Layer 2 blockchains. This interoperability reduces reliance on complex third-party bridges, making cross-chain transactions more straightforward.
• Scalability and Speed: By combining Layer 1 and Layer 2 solutions, Prom can handle a high volume of transactions at significantly faster speeds compared to traditional networks. This capability is crucial for mass adoption and enhances user experience by minimizing transaction delays.
• Decentralized Governance: PROM token holders have governance rights, allowing them to vote on key decisions regarding the network’s future. This empowers users and fosters a sense of ownership within the community.
• Developer-Friendly Environment: Prom provides intuitive development tools and APIs aimed at attracting developers to build decentralized applications (dApps) easily. This encourages innovation across various sectors such as finance, gaming, and supply chain management.

What are Prom Tokens Used For?

The PROM token serves as the native currency of the network, playing a crucial role in:

• Network governance: PROM tokens empower holders to participate actively in the governance of the Prom network. This decentralized governance model allows users to vote on crucial decisions, such as protocol upgrades, feature implementations, and other significant changes that shape the future of the network. By giving users a voice, Prom fosters a sense of community ownership and accountability.

• Transaction fee payment: Within the Prom ecosystem, PROM tokens are utilized for transaction fee payments. Whenever users engage in transactions, whether they are sending tokens, executing smart contracts, or interacting with decentralized applications (dApps), they pay fees using PROM. This mechanism ensures that the network remains sustainable and incentivizes validators and participants who maintain its integrity.

• Validator staking: PROM tokens play a vital role in the staking process within the Prometeus network. Users can stake their PROM tokens to become validators or support existing validators in maintaining the network’s security and consensus. 

In return for their contributions, stakers earn rewards in PROM tokens, creating a mutually beneficial relationship that enhances network stability while providing financial incentives.

• Protocol participation incentives: To encourage active participation in various aspects of the Prom ecosystem, PROM tokens are used as incentives for users engaging with different protocols and services. 

This includes rewards for contributing to liquidity pools, participating in governance votes, or taking part in promotional events within the NFT marketplace. By offering these incentives, Prom aims to cultivate a vibrant community and drive user engagement.

• Access to Network Services: PROM tokens serve as a gateway for users to access a variety of services within the Prometeus network. 

Whether it’s utilizing data storage solutions or engaging with NFT marketplaces, holding PROM allows users to unlock features and participate fully in the ecosystem. This accessibility enhances user experience and encourages broader adoption of the platform.

Prom Token Price and Technical Analysis

• As of February 14, 2025, the Prom Token (PROM) is navigating through various market conditions, influencing its price movement and trading dynamics. Investors and traders looking to enter or exit positions in PROM should carefully examine key technical indicators to make informed decisions.

 Below is a comprehensive breakdown of the latest market trends, technical indicators, and potential future movements of PROM.

• The 14-day RSI is currently 46.61, positioning PROM in neutral territory. The RSI is a momentum oscillator that measures the speed and change of price movements on a scale of 0 to 100. At 46.61, PROM is neither in an extreme selling nor buying zone.

 This neutral stance means traders should wait for a clearer signal, either through a breakout above resistance or a dip into the oversold range, before making decisive moves.

• Prom token has recorded support levels at $5.47, $4.00, $2.57 and resistance levels at $8.37, $9.80, $11.27. If the token falls below its nearest support level of $5.47, it may see further downside toward $4.00. Conversely, breaking above $8.37 could open the door for a bullish reversal toward $9.80 and beyond.
• The 24-hour trading volume of $147.59 million reflects strong liquidity in the market, meaning there is significant buying and selling activity. High trading volumes often lead to increased volatility, providing opportunities for short-term traders to capitalize on price swings.
• The overall market sentiment surrounding PROM remains bearish, with traders exercising caution. The Fear & Greed Index is currently at 66.98, indicating heightened fear in the market. PROM is trading below its 50-day and 200-day SMAs, suggesting continued downside pressure.

Watch our detailed tutorial on How to Deposit Crypto On Bitunix?

How to Buy/ Sell $PROM Tokens?

To buy $PROM, you need to create an account on Bitunix. If you are already a registered user, you can skip this step.

Next, you need to deposit USDT in your Bitunix account. Simply head to your profile and click on the wallet icon. Next, click on deposit and follow the steps to deposit crypto in your account.

To trade in PROM/USDT, navigate to the main menu and click on the Markets tab and select ‘Marketplace’. 

Next, look up PROM/USDT and click on the search icon. 

Next, click on Trade to open the trading window for PROM/USDT.

You can choose to place a limit or a market order for buying and selling PROM tokens.

Watch our detailed tutorial on How to use Crypto Limit and Market Orders on Bitunix Futures?

How to Trade in PROM Futures on Bitunix?

To trade in PROM/USDT on Bitunix, head over to the Markets Tab and click on Marketplace from the drop down menu. 

Next, click on Futures Trading tab and search for Prom. Next, click on trade to open the PROM/USDT futures pair trading panel.

Now, you can place a long or short order on Prom futures.

Wrapping Up

Prom represents a significant advancement in blockchain technology, offering a practical solution to the scalability trilemma while maintaining security and decentralization. Its innovative use of zero-knowledge proofs, combined with the robust foundation of Polygon CDK, positions it as a promising platform for the future of decentralized applications.

As blockchain technology continues to evolve, Prom’s approach to scaling and interoperability could prove instrumental in driving wider adoption of decentralized technologies. With its strong technical foundation and growing ecosystem, Prom is well-positioned to play a significant role in the future of blockchain infrastructure.