Summary:
Prisma DAO (Prisma) proposes to whitelist the Prisma CurveProxy contract in Curve’s SmartWalletWhitelist contract to be able to participate in Curve governance. Prisma will maintain a pernanent lock and vote for their PRISMA/WETH and mkUSD/FRAXBp pools.
Abstract:
Whitelist the Prisma CurveProxy contract in Curve’s SmartWalletWhitelist contract to be able to participate in Curve governance.
Motivation:
Prisma is a new DeFi primitive that enables users to mint a stablecoin, mkUSD, that is fully collateralized by liquid staking tokens.
Website: https://prismafinance.com/
Twitter: https://twitter.com/PrismaFi
Discord: Prisma Finance
Prisma will maintain a permanent lock on their acquired CRV position from an OTC deal with Curve founder @michwill , and use it to vote for their PRISMA/WETH and mkUSD/FRAXBP pools. Prisma will also provide incentives for veCRV voters for these pools via platforms such as Votium and Votemarket.
Alongside incentivized deposits via Convex, Prisma will allow users to LP for mkUSD and PRISMA pools directly using their own boost. A portion of all earned CRV will be used to increase Prisma’s veCRV position.
veCRV holders that approve this vote will receive a proportional share of a PRISMA airdrop as a locked position on the Prisma protocol. The airdrop is locked on Prisma for 52 weeks, but can be claimed early subject to a penalty. The locked positions can participate in Prisma DAO voting.
Approval of this proposal will bring new users, liquidity, fees, bribing and incentives to the Curve ecosystem from a DAO that will max-lock its CRV position.
Audits:
Prisma has completed two audits and is in the final stages completing one more. More information about Prisma and the audits can be found in the documentation.
Specification:
If approved the Curve DAO would execute the following function on SmartWalletWhitelist to approve the Prisma DAO CurveProxy contract:
approveWallet(0x490b8C6007fFa5d3728A49c2ee199e51f05D2F7e)
For:
Approval of this proposal will bring new users, liquidity, fees, bribing and incentives to the Curve ecosystem from a DAO that will max-lock its CRV position.