What is PRISMA

1. Project Introduction
Prisma Finance is a decentralized stablecoin protocol that allows users to deposit LST/LRT as collateral to mint mkUSD/ULTRA, over-collateralized stablecoins. These stablecoins are incentivized on Curve and Convex Finance, offering users additional rewards such as trading fees, CRV, CVX, and PRISMA.
Summary: Since Ethereum's Shanghai upgrade in 2023, the liquid staking token (LST) market has grown rapidly. Prisma unlocks dual liquidity in the Ethereum ecosystem by enabling LSD assets to be used as collateral for minting stablecoins. The project has garnered support from prominent investors and founders, including those behind Curve Finance, Convex Finance, FRAX Finance, CoinGecko, OKX Ventures, and Swell.
2. Team & Investment Info
Team: No public details available.
Funding: In June 2023, Prisma Finance raised funds in a round that involved notable participants such as Michael Egorov (founder of Curve Finance), C2tP (founder of Convex Finance), FRAX Finance, Conic Finance, Tetranode, Llama Airforce, CoinGecko, OKX Ventures, DeFiDad, MrBlock, Impossible Finance, 0xMaki, GBV, Agnostic Fund, Swell Network, Adam Cochran (Eden Research Director at The Block), Ankr Founders, MCEG, and Eric Chen. The exact funding amount was not disclosed.
3. Social Media URLs
X: https://x.com/PrismaFi
Discord: https://discord.com/invite/prismafinance
4. Token Info
Token Symbol: PRISMA
Total Supply: 300,000,000
Token Type: ERC-20
Issuance/Burn Mechanism: Fixed supply
Contract Address: https://etherscan.io/token/0xdA47862a83dac0c112BA89c6abC2159b95afd71C
Token Distribution:
Emissions: 60% (controlled by Prisma DAO to incentivize actions within the Prisma protocol)
Core contributors: 20% (released linearly over 12 months starting from genesis)
Early supporters: 10% (released linearly over 12 months starting from genesis)
Prisma DAO treasury: 5%
veCRV voters & Prisma Point holders: 3%
5. Related Links
Official Website: https://prismafinance.com/
White Paper: https://docs.prismafinance.com/
Other Info:
https://www.rootdata.com/Projects/detail/Prisma%20Finance?k=ODA2NA%3D%3D