Prisma is a new DeFi primitive focused on unlocking the full potential of Ethereum liquid staking tokens (LSTs).
Prisma allows users to mint a stablecoin (mkUSD) fully collateralized by liquid staking tokens. The stablecoin will be incentivized on Curve and Convex Finance to create a capital-efficient flywheel where users can receive trading fees, CRV, CVX, and PRISMA on top of their Ethereum staking rewards.
Prisma’s codebase is completely immutable, based on Liquity, in order to create a robust protocol and truly decentralized stablecoin with favorable and flexible collateral parameters to make it attractive for those wanting to get the best out of their LSTs without tail risks from other stablecoins. The Prisma DAO will be in charge of parameters, emissions, and protocol fees.
Prisma has complete three audits from Nomoi, MixBytes and Zellic and will begin its guarded launch in 48 hours.
• Website https://prismafinance.com/ • Documentation https://docs.prismafinance.com/ • Github Page https://github.com/prisma-fi/ • Communities https://twitter.com/prismafi Discord: https://discord.gg/prismafinance • Audits: https://github.com/prisma-fi/audits • Intro post: https://mirror.xyz/prismafinance.eth/wYAgS4n7aL4tNFdxSed_m_5nrNXg_3yNc18CwBdCyfU • Setting Prisma apart: https://mirror.xyz/prismafinance.eth/PClgs5ZMRkbo74E7K1Z8z_jM5lbbH6FhGSRqQvF55iw
mkUSD is the Prisma stable coin which you can mint using several LSTs including: frxETH, rETH, stETH and cbETH
Prisma Finance has acquired in an OTC deal and on chain over 2M CRV which we have locked with the intention of voting for our own pool.
Governance: The Prisma DAO will launch at the same time as the Prisma token in coming weeks.
Oracles: Prisma uses Chainlink oracles as well as a custom Frax oracle (also used by crvUSD)
Centralization vectors: Prisma is fully decentralized with minimal admin controls outlined here Admin Functions - Prisma Finance