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How it works
LSTs!?
The Fam
Values
FAQ


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Claim $ETHNEA from
PrismaFinance Treasury Pool

Claim $ETHNEA from
PrismaFinance Treasury Pool

All users who had an active position open on Primsa Finance prior to yesterday’s
Snapshot are Eligible to Claim $ETENA From the Prisma DAO Treasury Pool.
Allocation amount based on Your Prisma Position Sizes.

All users who had an active position open on Primsa Finance prior to yesterday’s
Snapshot are Eligible to Claim $ETENA From the Prisma DAO Treasury Pool.
Allocation amount based on Your Prisma Position Sizes.

Check Eligibility

mkUSD circulating

 

163,870,024.6

Collateral value

 

$472,775,379.3

PRISMA locked

 

25,721,906.0 (61.2%)

How does Prisma work?

Mint

Choose your favorite LST and deposit it as collateral to mint mkUSD.

Collateral Ratio of 180%

120150200250

 mkUSD

0.0

 wstETH Collateral

1.8

Earn

Earn yield on your mkUSD’s via Prisma’s Stability Pool or on other DeFi apps
such as Curve and Convex.

Vote

Earn PRISMA for minting mkUSD, maintaining an active loan or depositing into the
Stability Pool. Lock this PRISMA to direct emissions and take advantage of
additional incentives.

Choose a collateral
to borrow against

Prisma supports multiple collateral types, therefore users can open multiple
vaults, one for each supported collateral.

wstETH

Total Value Locked

$261.1m

Minted mkUSD

82.4m/200.0m

MCR

110%

Debt Interest Rate

4.00%

Staked Ether APR

3.5%

Choose wstETH

rETH

Total Value Locked

$66.2m

Minted mkUSD

25.9m/60.0m

MCR

110%

Debt Interest Rate

4.00%

Staked Ether APR

2.9%

Choose rETH

cbETH

Total Value Locked

$18.0m

Minted mkUSD

7.0m/7.0m

MCR

120%

Debt Interest Rate

4.00%

Staked Ether APR

4.0%

Choose cbETH

sfrxETH

Total Value Locked

$127.5m

Minted mkUSD

48.6m/50.0m

MCR

110%

Debt Interest Rate

4.00%

Staked Ether APR

4.3%

Choose sfrxETH

Take advantage of Ethereum’s proof of stake network and unlock loans where the
collateral grows.

Since Ethereum’s transition to proof-of-stake, staked Ether has been an
attractive yield opportunity.

Using liquid representations of staked Ether as collateral for loans means that
your collateral is growing all the time.

3.6%

Staked ETH APR

28.8m

Total Ether Staked

$72.8b

Size of Staked Ether

Staked ETH v LST

Still a bit lost?
Read more in our FAQ

Family & Friends

Backed and supported by most of Defi's finest.



Audited and verified

Prisma's codebase has received multiple audits from top firms.
Our codebase is immutable and without proxies, as DeFi should be.

No Proxy
Contracts

Audited By:



Immutable

FAQ

What is the Prisma Protocol?



Prisma is a decentralized borrowing protocol that allows users to mint a
stablecoin, mkUSD, that is fully collateralized by liquid staking tokens.

In addition to the collateral, the loans are secured by a Stability Pool
containing mkUSD and by fellow borrowers collectively acting as guarantors of
last resort. Learn more about these mechanisms under liquidations.

Prisma as a protocol is non-custodial, immutable, and censorship-resistant.
Learn more about the protocol here.

How do I use the Prisma Protocol?



To create a new vault, earn, or vote on governance proposals, head over to the
Prisma interface and connect a Web3 wallet. Be aware that each transaction on
Ethereum costs Ether (ETH). For a more detailed walkthrough, check out our Help
Guides.

If you're a developer interested in building on top of the Prisma Protocol,
please refer to our extensive docs.

How does the Prisma Protocol work?



Prisma is a borrowing protocol. In practical terms, it is a collection of smart
contracts that define a standard way to deposit collateral, mint mkUSD, and
liquidate positions. A vault is where you take out and maintain your loans
against a specific collateral type.

For a more in-depth description, check out the concepts from the documentation.
What are the benefits of using Prisma? Prisma offers a capital-efficient
borrowing experience with:

- A collateral ratio of just 120%
- Access to deposit multiple collaterals
- Directly redeemable - mkUSD can be redeemed at face value for the underlying
collateral, always and at any time
- Censorship resistant

Prisma is also attractive to LST issuers as vePRISMA holders provide access to
incentivize certain actions across the Prisma protocol like incentivizing
minting of mkUSD with their own LST or redirecting emissions on Prisma.

What is boost?



Vote locking is a feature on Prisma where PRISMA is locked in return for
vePRISMA. The longer the time period that PRISMA is locked for, the more
vePRISMAs are received. The minimum locking period is 1 week and the maximum
period is 52 weeks.

One of the major incentives of vote-locking PRISMA is the ability to boost your
PRISMA emissions. This means that a vault with "max boost" earns PRISMA rewards
at 2x the rate of a vault that is unboosted.

Still unsure?
Read the docs.

Get started
with Prisma

Open App

Twitter

Docs

Github

Prisma Discord

Have a question or want to contribute?
Join the Prisma community on Discord.

Have a question or want to contribute? Join the Prisma community on Discord.

Open Discord

Prisma Finance 2023