Prisma FinanceIntroducing PRISMA - The Prisma DAO governance token
Since its inception, we committed towards building a protocol that belongs to its community, a DAO that would serve as responsible stewards of the Prisma Protocol. We’re excited to introduce the PRISMA governance token, ensuring community ownership and decentralized decision-making to guide Prisma towards the future. Starting next week on November 2nd, the future of Prisma belongs to the DAO community.PRISMA DistributionPRISMA will have a max supply of 300 million, and will be distributed as ...
Prisma FinanceImportant Vault Updates
Prisma Finance launched at the tail end of August, 2023, enabling holders of various types of LST collateral to mint mkUSD against their tokens. The DAO launched a month later with an innovative new veToken model. This multi-collateral system was an advance on the codebase Prisma uses; later Prisma unveiled the ability to have multiple tranches for each collateral and launched PrismaLRT and the stablecoin $ULTRA for liquid restaking tokens. As a latest piece, Prisma will soon be launching a t...
Prisma FinanceRewards and Fees structure of Leading Liquid Staked ETH issuers
Liquid staking has emerged as a popular solution for Ethereum holders, offering the opportunity to stake their ETH while maintaining liquidity. We’ll explore several prominent liquid staked ETH issuers and provide insights into their respective fee structures. Different platforms will be covered, each contributing to the growth of liquid staking in the Ethereum ecosystem.Lido: Lido allows users to stake their ETH and receive stETH tokens in return. These stETH tokens represent users staked ET...
The end game for liquid staking tokens. A non-custodial and decentralized Ethereum LST-backed stablecoin.
Prisma FinanceIntroducing PRISMA - The Prisma DAO governance token
Since its inception, we committed towards building a protocol that belongs to its community, a DAO that would serve as responsible stewards of the Prisma Protocol. We’re excited to introduce the PRISMA governance token, ensuring community ownership and decentralized decision-making to guide Prisma towards the future. Starting next week on November 2nd, the future of Prisma belongs to the DAO community.PRISMA DistributionPRISMA will have a max supply of 300 million, and will be distributed as ...
Prisma FinanceImportant Vault Updates
Prisma Finance launched at the tail end of August, 2023, enabling holders of various types of LST collateral to mint mkUSD against their tokens. The DAO launched a month later with an innovative new veToken model. This multi-collateral system was an advance on the codebase Prisma uses; later Prisma unveiled the ability to have multiple tranches for each collateral and launched PrismaLRT and the stablecoin $ULTRA for liquid restaking tokens. As a latest piece, Prisma will soon be launching a t...
Prisma FinanceRewards and Fees structure of Leading Liquid Staked ETH issuers
Liquid staking has emerged as a popular solution for Ethereum holders, offering the opportunity to stake their ETH while maintaining liquidity. We’ll explore several prominent liquid staked ETH issuers and provide insights into their respective fee structures. Different platforms will be covered, each contributing to the growth of liquid staking in the Ethereum ecosystem.Lido: Lido allows users to stake their ETH and receive stETH tokens in return. These stETH tokens represent users staked ET...
The end game for liquid staking tokens. A non-custodial and decentralized Ethereum LST-backed stablecoin.
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Recent excitement in EigenLayer and restaking has seen a surge in the popularity of a new asset class called Liquid Restaking Tokens (LRTs). Empowered by EigenLayer, several new Liquid Restaking Protocols have emerged providing access to additional yields from restaking.
To date, liquid restaking boasts an impressive TVL that surpasses $3 billion with several notable protocols like Ether.fi, Renzo, KelpDAO, and Swell building on top of EigenLayer.
However, LRTs are facing the same problems LSTs experienced when Prisma was being built: what do you do with your LRT once you have it?
$ULTRA is a new stablecoin issued by PrismaLRT, a new borrowing protocol developed by Prisma focused on unlocking liquidity for Liquid Restaking Tokens (LRTs).
PrismaLRT is purpose-built with parameters and features tailored specifically to realize the full potential of LRTs. A new protocol that will be integrated within the Prisma UI allowing users to seamlessly borrow using their LSTs or LRTs.
Given that LRTs are an exciting and new developing asset, the development of a new stablecoin that can adjust to changes quickly, and provide more room to scale without impacting native LST users and holders of mkUSD was needed.
By minting $ULTRA with their LRT, depositors can retain all of the rewards, points, and upside from owning an LRT, and unlock their capital as ULTRA, a stablecoin that can help them capture additional opportunities and yield on Prisma or throughout DeFi.
We are proud to collaborate with some of the leading protocols in the LRT ecosystem. This close relationship allows us to design PrismaLRT to be as close as possible to the specificity and needs of this industry.
PrismaLRT will launch supporting initially one asset, weETH from ether.fi.
We have decided to initially start using weETH, with more assets to be added over time. Our strong collaboration with the respective LRTs teams and RedStone Oracles gives us confidence in the swift integration of these LRTs, providing Prisma users with more collateral options.
PrismaLRT will be governed by the PRISMA DAO, giving holders of locked PRISMA a say in the future of the protocol through voting. It is important to note that governance participants will be responsible for redirecting emissions towards PrismaLRT as well as voting on proposals made to the DAO.
PrismaLRT will be the cornerstone on which Prisma will expand within the LRT ecosystem, enabling more collateral options, while managing risk.
By unlocking liquidity for LRT holders and fostering collaboration with leading protocols in the field, PrismaLRT is set to open new market possibilities to benefit both PRISMA and LRT holders.
To get involved and stay up to date:
Visit the website: Prismafinance.com
Read through the documentation
Meet the community on Discord
Follow @PrismaFi on Twitter
Recent excitement in EigenLayer and restaking has seen a surge in the popularity of a new asset class called Liquid Restaking Tokens (LRTs). Empowered by EigenLayer, several new Liquid Restaking Protocols have emerged providing access to additional yields from restaking.
To date, liquid restaking boasts an impressive TVL that surpasses $3 billion with several notable protocols like Ether.fi, Renzo, KelpDAO, and Swell building on top of EigenLayer.
However, LRTs are facing the same problems LSTs experienced when Prisma was being built: what do you do with your LRT once you have it?
$ULTRA is a new stablecoin issued by PrismaLRT, a new borrowing protocol developed by Prisma focused on unlocking liquidity for Liquid Restaking Tokens (LRTs).
PrismaLRT is purpose-built with parameters and features tailored specifically to realize the full potential of LRTs. A new protocol that will be integrated within the Prisma UI allowing users to seamlessly borrow using their LSTs or LRTs.
Given that LRTs are an exciting and new developing asset, the development of a new stablecoin that can adjust to changes quickly, and provide more room to scale without impacting native LST users and holders of mkUSD was needed.
By minting $ULTRA with their LRT, depositors can retain all of the rewards, points, and upside from owning an LRT, and unlock their capital as ULTRA, a stablecoin that can help them capture additional opportunities and yield on Prisma or throughout DeFi.
We are proud to collaborate with some of the leading protocols in the LRT ecosystem. This close relationship allows us to design PrismaLRT to be as close as possible to the specificity and needs of this industry.
PrismaLRT will launch supporting initially one asset, weETH from ether.fi.
We have decided to initially start using weETH, with more assets to be added over time. Our strong collaboration with the respective LRTs teams and RedStone Oracles gives us confidence in the swift integration of these LRTs, providing Prisma users with more collateral options.
PrismaLRT will be governed by the PRISMA DAO, giving holders of locked PRISMA a say in the future of the protocol through voting. It is important to note that governance participants will be responsible for redirecting emissions towards PrismaLRT as well as voting on proposals made to the DAO.
PrismaLRT will be the cornerstone on which Prisma will expand within the LRT ecosystem, enabling more collateral options, while managing risk.
By unlocking liquidity for LRT holders and fostering collaboration with leading protocols in the field, PrismaLRT is set to open new market possibilities to benefit both PRISMA and LRT holders.
To get involved and stay up to date:
Visit the website: Prismafinance.com
Read through the documentation
Meet the community on Discord
Follow @PrismaFi on Twitter
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