Welcome to the new Newsletter about Prisma !!
In case you were stuck in a cave since one week you probably noticed a lot of movement around Prisma Finance and the new token $PRISMA ! Here is a small summary of what happened.
Not sure yet if it twill be a weekly, monthly (or something else) newsletter . Let’s wait and see.
Prisma and $PRISMA elsewhere
Few days ago Prisma changed few parameters. On few an increase of the Debt Cap
New launch parameters are live!🌈— Prisma Finance (@PrismaFi) November 1, 2023
- New Debt Cap increase 📈
- Minimum Collateral Ration at 110%🔽 (for wstETH, rETH & sfrxETH)
- Interest Borrow rate at 1%✅
Less than one hour to go before the start of $PRISMA emission! pic.twitter.com/ScvA9ddA7N
And it didn’t take long to be filled again
And for sfrxETH
And it didn’t stop as TVL reached $300 million very quickly
Prisma just reached a TVL of $300 million, less than 24 hours after the launch of the governance token, $PRISMA 🌈— Prisma Finance (@PrismaFi) November 2, 2023
The community's support has been amazing, and we are only getting started!
Join us: https://t.co/MHJ3MzpUIT pic.twitter.com/JY2AS1pQ7c
The announcement of the $PRISMA token helped a lot ! As users were preparing for the start of $PRISMA emission!
We're thrilled to announce that $PRISMA, the Prisma Governance Token, is live now on Ethereum mainnet!🌈— Prisma Finance (@PrismaFi) November 2, 2023
Ethereum Address: 0xdA47862a83dac0c112BA89c6abC2159b95afd71C
The future of LSTfi is here! pic.twitter.com/GhnloO6Mkb
You can also farm $PRISMA on HTX
I didn’t take long for $PRISMA to be listed on CEX
Llamafolio integrated Prisma finance
You can now track @PrismaFi Governance token, $PRISMA, on https://t.co/JbWiclSBxD— LlamaFolio (@LlamaFolio) November 2, 2023
Prisma is a decentralized borrowing protocol that allows users to mint a stablecoin, mkUSD, that is fully collateralized by liquid staking tokens.
Claim and lock with convex
WHaaaaat ?? Looks juicy
Fees not looking too bad after the launch pic.twitter.com/aQBcJG0mGN— Sidney Gottlieb (@Sidn3yGottlieb) November 4, 2023
DYOR and act accordingly before it’s too late
A lot of people don't seem to realize that everyone is max boosted this week and that from next Thursday, the $PRISMA game changes as every user will need to either have locked Prisma or buy boost from the market place to claim max rewards.— Sidney Gottlieb (@Sidn3yGottlieb) November 3, 2023
Whales joined the party
In the past hour, a large address linked to Justin Sun has deposited $110M wstETH in the @PrismaFi pools, and has minted over $60M of the stablecoin mkUSD.— Arkham (@ArkhamIntel) November 2, 2023
This address 0x9FC currently owns >60% of the wstETH deposited in Prisma. pic.twitter.com/3Xl1QRMICh
And are dumping like savages
😬Justin Sun already taking the 50% penalty and dumping farmed $PRISMA— DefiMoon 🦇🔊 (@DefiMoon) November 2, 2023
Considering his size and how high FDV of PRISMA is currently.... I don't see how PRISMA can hold the current price!
Might not be a bad idea to activate some kind of value capture for PRISMA asap.$CRV #DeFi https://t.co/lcLBQhSp2X pic.twitter.com/xeuOic2DVZ
Justin does’t care
Pro-Tip: if you want to claim $PRISMA without the 50% staking penalty... @ConvexFinance allows you to claim 100% instantly through converting it to $cvxPRISMAhttps://t.co/jy5wXZLwmk https://t.co/nGSToWNhKT— TΞtranodΞ 🦇🔊 (@Tetranode) November 4, 2023
$PRISMA is a governance token, so is it used to vote and change the project. The first vote is already here
Prisma Improvement Proposal 001 has been passed🌈https://t.co/NsuPhE6cQC— Prisma Finance (@PrismaFi) November 3, 2023
Debt Cap for @LidoFinance wstETH will increase from 100m to 200m mkUSD, on Saturday, November 04, around 11pm UTC.
Thanks to everyone who participated in this inaugural vote for Prisma DAO! pic.twitter.com/GhRO5taNVl
If you voted for Prisma you will be happy soon !
From the community
We love to see this. Let’s be friends and not enemies
A super cool video game
Just told my gf about the upcoming $prisma airdrop I can claim next week - she just laughed at me saying „it sounds like a weird computer game“ 😑— Curve Rider 🦇🔊 (@curvellama) November 4, 2023
(I still love her)
cvxPRISMA will be the better choice ? DYOR
CvxPrisma 🧵— Tommy Genesis (@0xTommyGenesis) November 4, 2023
If you were buying $prisma as a long term hold, would you buy it at 50% discount if it meant forgoing the ability to vote and waiting ~a year for it to mature?
cvxAssets have proven to be strong, and lately have maintained close to 3% peg