Prism Protocol
Refracting and revolutionizing DeFi
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PRISM is a new DeFi primitive empowering digital asset investors with the same derivatives available in traditional finance. PRISM allows users to lock in a fixed yield or price, or to take capital-efficient exposure to these components.
PRISM splits a yield-bearing digital asset into its core components, a yield token (YT) and a principal token (PT). The yield-bearing asset is placed in a vault and the YT and PT are minted to be used at the asset-provider’s discretion.
YT and PT are traded on an AMM, allowing the market to determine the clearing level or value of each instrument.
YTs and PTs can be (1) staked in PRISM to earn the underlying asset’s yield or for participation in proxy governance voting , (2) committed to liquidity pools on the AMM to earn incentives and trading fees, (3) bought or sold on the AMM or (4) used as collateral to borrow or lend.
Yes -- $PRISM’s purpose is for governance and it captures value by earning a percentage of the asset’s staking yield and network transaction fees. More exciting details will be shared shortly!
The MVP creates a perpetual Luna YT and PT. Users who want to receive future LUNA airdrops and staking rewards will sell the PT and keep the YT, and users who want liquidation-free leverage to LUNA’s principal price performance will sell the YT and keep the PT.
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Prism Protocol
Refracting and revolutionizing DeFi
PRISM is a new DeFi primitive empowering digital asset investors with the same derivatives available in traditional finance. PRISM allows users to lock in a fixed yield or price, or to take capital-efficient exposure to these components.
PRISM splits a yield-bearing digital asset into its core components, a yield token (YT) and a principal token (PT). The yield-bearing asset is placed in a vault and the YT and PT are minted to be used at the asset-provider’s discretion.
YT and PT are traded on an AMM, allowing the market to determine the clearing level or value of each instrument.
YTs and PTs can be (1) staked in PRISM to earn the underlying asset’s yield or for participation in proxy governance voting , (2) committed to liquidity pools on the AMM to earn incentives and trading fees, (3) bought or sold on the AMM or (4) used as collateral to borrow or lend.
Yes -- $PRISM’s purpose is for governance and it captures value by earning a percentage of the asset’s staking yield and network transaction fees. More exciting details will be shared shortly!
The MVP creates a perpetual Luna YT and PT. Users who want to receive future LUNA airdrops and staking rewards will sell the PT and keep the YT, and users who want liquidation-free leverage to LUNA’s principal price performance will sell the YT and keep the PT.
Prism Protocol
Refracting and revolutionizing DeFi
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