TOKYO, Oct. 16, 2020 (GLOBE NEWSWIRE) -- PRISM is proud to launch the Prism Protocol IDO, an exciting new event set to take place over the course of three days, from October 21st to October 23rd (SGT). During this event, users will have the opportunity to purchase Prism coins through the Prism Ecosystem, ultimately purchasing voting rights toward the direction of the company. This exciting Initial Defi Offering is the first time where private users will have the opportunity to gain stake in the PRISM landscape.
This article will discuss the main premise of PRISM, and the Initial Defi Offering that will open up in the coming days.
What Is Prism Protocol?
Prism Protocol provides highly sustainable APY in cooperation with asset managers and insurers based on synthetic assets. With that said, it’s critical to remember that all matters, including the selection and duration of asset management, are implemented transparently and fairly through decision making governance. For example, 1 Prism is equivalent to 1 stake in voting rights.
This Initial Defi Offering is specifically designed to provide private users with the opportunity to buy into Prism Protocol, where earning is distributed only through a staking reward after the pre-sale. From there, users can earn rewards in a flexible form within multiple pools, all based on the classification of the following examples:
LP Staking – LP Staking allows users who establish the value between Pair and provide the pool for these pairs are known as Liquidity Providers.
Single Staking – If a user chooses to stake without the Liquidity Provision at hand, they’d be referred to as Single Staking users.
Earning Through Prism Protocol
Earning through the Prism Protocol is quite simple, and many users will have the opportunity to receive additional dividends in addition to their Annual Percent Yield and the interest generated by DeFi’s Yield Farming Pool through a corresponding revenue source. Essentially, this provides users with multiple streams to earn through, providing them with a tremendous advantage over other Farming Pools that rely solely on Yield Farming.
Currently, the APY is systemically influenced by the price and distribution of tokens, in which the APY’s deposits in search of high pools are expressed differently depending on a number of factors, such as farming/harvesting, staking, mining, etc.
In terms of rewards, the amount of rewards delivered by all earning pools and across all profit streams is typically supplied in a fixed amount to ensure that users are very well-aware of their returns ahead of time – and this holds true regardless of demand.
The amount of rewards received by a farmer from each pool is inversely proportional to the increase in the number of deposits in that pool. In other words, as liquidity mining decreases overtime, organic growth increases over time.
With that in mind, it’s clear to see that the quantity of rewards that can be obtained from each pool decreases as the Total Value Locked increases. However, as the Total Value Locked increases, the price of the Reward Token increases as well, providing users with a highly sustainable return overtime.
Swapping Makes Things Simple
One of the biggest selling points of Prism Protocol is that it allows users to swap their USDT with another ETH pair that has a higher APY amongst all of the farming pools within system. This means that a user can sell a Reward Coin as a ETH, causing the LP to reflect a decrease in demand for that unique pool. However, the expected hegemony of each Farmer will increase the overall APY, ultimately driving demand for Staking within that respective pool.
Swapping is not only a useful tool for individual users, but it also helps to keep the cycle going within the system. As different swaps are made within different pools, APY will fluctuate in line with demand, ultimately allowing users to leverage the highest performing APY at any given time.
The Rules of DeFi
Because Prism Protocol is a Decentralized Finance company, all distributed tokens provide users with the right to vote according to their quantity. Because all DeFi governance follows a decentralized voting policy, the future direction of all pools associated with Prism, in addition the reward system, is based solely on internal collective intelligence votes, which are possessed by individual users as determined by their number of tokens.
Essentially, Prism serves as a bank in regard to the funds deposited within the system, while simultaneously acting as an asset manager, insurer, lender, etc. From there, the role of the system is ultimately determined through the participation and determination of token owners who have their own hold over the governance of the system.
PRISM Protocol Is Around The Corner
In just a few days, Prism Protocol will launch its highly anticipated Initial Defi Offering. This exciting 3-day event will provide users with the opportunity to purchase tokens and begin farming/staking through the system.
On the 26th, the Prism Staking Pool will be launched. In the near future, the project plans to expand and go beyond the simple forecasting role of an asset manager and move toward the role of an SPAC. From there, Prim will provide distributed and transparent information to ecosystem participants.
Be on the lookout for the announcement of the Initial Defi offering in just a few days.
Social links
Medium: https://prismprotocol.medium.com/
Twitter: https://twitter.com/PrismProtocol
Media contact
Company: PRISM Protocol Ltd.
Contact: Sebastien Guillemot
Telephone: +81 70 7847 5043
E-mail: contact@prismprotocol.io
Website: https://prismprotocol.medium.com/