Prism is a new DeFi-focused application-specific chain built using the Cosmos SDK. The project recently announced that Osmosis ($OSMO) holders can earn an airdrop by delegating to Prism’s Osmosis validator. The project states this allows $OSMO holders to support the development of Prism’s new Layer-1 and puts the Prism airdrop in the hands of those who are actively choosing to receive it.
Snapshots will be taken weekly commencing 9th February 2023. A weighted average of balances from the weekly snapshots will be used to determine the airdrop amount which will be claimable after mainnet launch.
Prism is a yield trading and deployment market. By splitting yield-bearing assets (YBAs) into two fixed term assets - a Principal Token (PT) and a Yield Token (YT) - users will have the opportunity to trade the future yield of their assets without having to lock them away or risk liquidation. The project was originally developed on Terra Chain and decided to build its own application-specific chain after the collapse of Terra.
Besides offering airdrop to $OSMO holders, Prism is also offering $ATOM holders the ability to earn an airdrop by delegating to Prism’s Cosmos Hub validator, started early January this year.
Cosmos
Derivatives
DeFi
