Prisma Finance Launched $PRISMA Token

The LSD stablecoin protocol Prisma Finance has officially launched the governance token PRISMA on the Ethereum mainnet and announced the token's contract address. On-chain data shows that the total supply of PRISMA is 300 million tokens.

Earlier this year, the LSD stablecoin protocol Prisma Finance completed a funding round, with the specific amount undisclosed. Investors included Michael Egorov, founder of Curve Finance, C2tP, founder of Convex Finance, FRAX Finance, Conic Finance, Tetranode, Llama Airforce, CoinGecko founder, OKX Ventures, DeFiDad, MrBlock, Impossible Finance, 0xMaki, GBV, Agnostic Fund, Swell Network founder, Adam Cochran of The Block's Eden research, Ankr Founders, MCEG, and Eric Chen, among others.

Prisma supports the collateralization of various Ethereum liquid staked derivatives (such as Frax, Lido, Rocket Pool, Binance, and Coinbase) to mint stablecoins. Additionally, Prisma's overcollateralization model supports automatic repayment, allowing the use of Ethereum staking yields to automatically pay off debt.