# Prisma Shutdown & Transition Plan

By [Resupply](https://paragraph.com/@resupply) · 2024-12-30

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With the passing of [PIP-46](https://gov.prismafinance.com/t/pip-46-shutdown-prisma-finance-introduce-resupply/232), Prisma governance has confirmed the shutdown of Prisma Finance and the introduction of Resupply Finance.

This post outlines the required actions and roadmap for Prisma users who retain open loans, farming positions, or holdings to ensure a smooth transition.

Each phase requires on-chain governance actions. Read carefully to understand how they may impact existing positions.

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Key Action Items for Users
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*   📌 Close all open borrow positions promptly in Phase 2 to avoid excessive interest rates.
    
*   📌 Claim all unclaimed PRISMA emissions before Phase 3 to avoid forfeiture.
    
*   📌 Break vePRISMA locks during the snapshot period (Dec 18 - TBD) to maximize conversion value.
    

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### Phase 1: Initial Shutdown Actions

*   _✅ COMPLETE_
    
*   Debt ceilings set to 0 on all trove managers.
    
*   mkUSD distributions to lockers ceased.
    
*   New emissions to cease on January 2, 2025 at 00:00 UTC.
    

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### Phase 2: Launch mkUSD & ULTRA PSMs

*   📅 _Target date: January 3rd |_ [_follow Resupply for updates_](https://x.com/ResupplyFi)
    
*   As outlined in [PIP-47](https://gov.prismafinance.com/t/pip-47-operation-rainbow-pegger/238), launch two Peg Stability Modules (PSMs) along with a UI:
    
    *   mkUSD PSM
        
    *   ULTRA PSM
        
*   📌 Action Required: Close open borrow positions promptly. Delaying until Phase 3 will result in interest rates spiking to 50% to encourage all open loans to close.
    

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### Phase 3: Final Shutdown Actions

*   📅 _Target date: January 10th |_ [_follow Resupply for updates_](https://x.com/ResupplyFi)
    
*   Sunset all trove managers – interest rates will immediately increase to 50%.
    
*   Boost calculator updated to return 0 on all claims:
    
    *   This will eliminate all unclaimed PRISMA.
        
    *   Failure to claim will result in forfeiture of unclaimed emissions and loss of their value in RSUP.
        
*   📌 Action Required: Claim all PRISMA emissions before Phase 3 begins. All unclaimed PRISMA rewards with be forefeited.
    

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### Phase 4: Asset & Governance Transition

*   📅 _Target date: TBD after Resupply launch |_ [_follow Resupply for updates_](https://x.com/ResupplyFi)
    
*   Transfer of Prisma fee receiver assets to the Resupply Treasury (excluding PRISMA tokens, which will be burned).
    
*   Transfer of Prisma governance ownership to Resupply governance.
    

This phase marks the final transition into Resupply operations.

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### Additional Reminder

📌 Action Required: If you own a vePRISMA lock, ensure you break it within the designated time window. Failure to do so within the specified times will disqualify you from having your lock break penalty reimbursed. More info:

*   Lock break window opened: December 18th, 00:00 (UTC)
    
*   Lock break window closes one week afterthe protocol is launched.
    
*   PRISMA received from lock-breaking will be convertible to a vest via Merkle claim at the standard PRISMA:RSUP rate.
    
*   Refunds will be vested under the same terms as all ordinary conversions.
    

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For further updates about the Prisma to Resupply transition plan, please stay tuned to the [twitter](https://x.com/ResupplyFi) and [discord](https://discord.gg/resupplyfi).

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*Originally published on [Resupply](https://paragraph.com/@resupply/prisma-shutdown-transition-plan)*