Difference between revisions of "Prisma Finance (PRISMA)"
(Created page with "Prisma allows users to mint a stablecoin (acUSD) fully collateralized by liquid staking tokens. ==Basics== *Based in: *Started in / Announced on: *Testnet release: *Mainnet release: ==History== ==Audits & Exploits== *Bug bounty program can be found [insert here]. ===Bugs/Exploits=== ==Governance== * The protocol itself is immutable, but it [https://mirror.xyz/0xcaD9653550286Eb1D4779D622A6a5218b446b57C/wYAgS4n7aL4tNFdxSed_m...") |
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==Basics== | ==Basics== | ||
*Based in: | *Based in: | ||
*Started in / Announced on: | *Started in / Announced on: [https://mirror.xyz/0xcaD9653550286Eb1D4779D622A6a5218b446b57C/wYAgS4n7aL4tNFdxSed_m_5nrNXg_3yNc18CwBdCyfU 31-5-2023], ''"In the coming weeks, we will reveal more about Prisma, its launch, its [[tokenomics]], and its novel mechanisms while the protocol goes through multiple audits"'' | ||
*[[Testnet]] release: | *[[Testnet]] release: | ||
*[[Mainnet]] release: | *[[Mainnet]] release: | ||
| Line 12: | Line 12: | ||
==Governance== | ==Governance== | ||
* The protocol itself is [[immutable]], but it [https://mirror.xyz/0xcaD9653550286Eb1D4779D622A6a5218b446b57C/wYAgS4n7aL4tNFdxSed_m_5nrNXg_3yNc18CwBdCyfU will have] a [[Decentralised Autonomous Organisation (DAO)|DAO]] for parameters (31-5-2023): | ===DAO=== | ||
*The protocol itself is [[immutable]], but it [https://mirror.xyz/0xcaD9653550286Eb1D4779D622A6a5218b446b57C/wYAgS4n7aL4tNFdxSed_m_5nrNXg_3yNc18CwBdCyfU will have] a [[Decentralised Autonomous Organisation (DAO)|DAO]] for parameters (31-5-2023): | |||
''"Prisma’s codebase is completely immutable, based on [[Liquity (LQTY)|Liquity]]. The Prisma DAO will be in charge of parameters, emissions, and protocol [[fees]]."'' | ''"Prisma’s codebase is completely immutable, based on [[Liquity (LQTY)|Liquity]]. We also wanted Prisma to be unique and stand on its own so we’ve added flexibility at the governance level over collaterals, parameters, and much more. Using veTokenomics, Prisma holders will have more control over the protocol. The Prisma [[Decentralised Autonomous Organisation (DAO)|DAO]] will be in charge of parameters, emissions, and protocol [[fees]]."'' | ||
===Notable Governance Votes=== | ===Notable Governance Votes=== | ||
===Treasury=== | ===Treasury=== | ||
| Line 23: | Line 22: | ||
===Token Allocation=== | ===Token Allocation=== | ||
===Utility=== | ===Utility=== | ||
PRISMA uses the veToken model which controls several aspects of the protocol: | |||
* The stability pool | |||
* Pool parameters for new collaterals | |||
* Protocol fees | |||
* Emissions (and which collateral should receive them) | |||
Governance participants, among other things, have the ability to incentivize the minting of acUSD or change mint and borrow fees on their collateral of choice with the goal of incentivizing LST protocols to participate in Prisma’s governance. vePRISMA holders can also choose to incentivize any LP tokens with PRISMA emissions. | |||
===Other Details=== | ===Other Details=== | ||
==Coin Distribution== | ==Coin Distribution== | ||
| Line 30: | Line 40: | ||
*Based on a [[fork]] of [[Liquity (LQTY)|Liquity]] | *Based on a [[fork]] of [[Liquity (LQTY)|Liquity]] | ||
===How it works=== | ===How it works=== | ||
* From their [https://mirror.xyz/0xcaD9653550286Eb1D4779D622A6a5218b446b57C/wYAgS4n7aL4tNFdxSed_m_5nrNXg_3yNc18CwBdCyfU announcement] (31-5-2023): | |||
''"Prisma allows users to mint Prisma’s native overcollateralized [[Stablecoins|stablecoin]] (acUSD) against any of the below-listed [[Liquid Staking Tokens (LSTs)|LSTs]] (wstETH ([[Lido (LDO)|Lido]]), cbETH ([[Coinbase (COIN)|Coinbase]]), rETH ([[Rocket Pool (RPL)|Rocket Pool]]), [[sfrxETH]] (Frax Ether), WBETH ([[Binance]])), providing holders of liquid-staking ETH tokens with unrivaled capital efficiency. With the help of Ethereum staking rewards, loans secured by LSTs eventually pay themselves back."'' | |||
===Fees=== | ===Fees=== | ||
===Upgrades=== | ===Upgrades=== | ||
Latest revision as of 04:15, 1 June 2023
Prisma allows users to mint a stablecoin (acUSD) fully collateralized by liquid staking tokens.
Basics
- Based in:
- Started in / Announced on: 31-5-2023, "In the coming weeks, we will reveal more about Prisma, its launch, its tokenomics, and its novel mechanisms while the protocol goes through multiple audits"
- Testnet release:
- Mainnet release:
History
Audits & Exploits
- Bug bounty program can be found [insert here].
Bugs/Exploits
Governance
DAO
"Prisma’s codebase is completely immutable, based on Liquity. We also wanted Prisma to be unique and stand on its own so we’ve added flexibility at the governance level over collaterals, parameters, and much more. Using veTokenomics, Prisma holders will have more control over the protocol. The Prisma DAO will be in charge of parameters, emissions, and protocol fees."
Notable Governance Votes
Treasury
Token
Launch
Token Allocation
Utility
PRISMA uses the veToken model which controls several aspects of the protocol:
- The stability pool
- Pool parameters for new collaterals
- Protocol fees
- Emissions (and which collateral should receive them)
Governance participants, among other things, have the ability to incentivize the minting of acUSD or change mint and borrow fees on their collateral of choice with the goal of incentivizing LST protocols to participate in Prisma’s governance. vePRISMA holders can also choose to incentivize any LP tokens with PRISMA emissions.
Other Details
Coin Distribution
Technology
- Whitepaper or docs can be found [insert here].
- Code can be viewed [insert here].
- Based on a fork of Liquity
How it works
- From their announcement (31-5-2023):
"Prisma allows users to mint Prisma’s native overcollateralized stablecoin (acUSD) against any of the below-listed LSTs (wstETH (Lido), cbETH (Coinbase), rETH (Rocket Pool), sfrxETH (Frax Ether), WBETH (Binance)), providing holders of liquid-staking ETH tokens with unrivaled capital efficiency. With the help of Ethereum staking rewards, loans secured by LSTs eventually pay themselves back."
Fees
Upgrades
Staking
Validator Stats
Liquidity Mining
- "The stablecoin will be incentivized on Curve and Convex Finance" according to Prisma (31-5-2023)
Scaling
Interoperability
Other Details
Oracle Method
Their Other Projects
Roadmap
- Can be found [Insert link here].
Revenue
Usage
Projects that use or built on it
Competition
Pros and Cons
Pros
Cons
Team, Funding and Partners
Team
- Full team can be found [here].
Funding
- From their announcement (31-5-2023):
"Prisma is backed by Curve Finance founder, Convex Finance founders, FRAX Finance, Conic Finance, Tetranode, Llama Airforce, Michael B. of LlamaNodes, Coingecko Founders, Amplice and Ivan from GearBox, OKX Ventures, DeFiDad, MrBlock, Impossible Finance, 0xMaki, GBV, Agnostic Fund, Swell Network Founder, Magnus from Dialectic Fund, Carlos from BITKRAFT, Adam Cochran, Eden Director of research at The Block, Kinnif from Fisher8, Tascha from Stella, Ankr Founders, Sam from NodeGuardians, MCEG, Eric Chen and Mirza from Injective, and many more."
Partners
(:
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