Will Prisma Finance Ignite The LST Wars?

Our guest today is the anonymous cofounder of Prisma Finance.

In this Quick Hit, we spotlight a new LSTfi protocol called Prisma Finance. We discuss will Prisma ignite the LST Wars, referring to the Curve Wars among protocols competing to capture voting power to allocate Curve liquidity rewards and bootstrap early DeFi protocols.

Self-described as “the end game for LSTs,” Prisma will offer a highly anticipated non-custodial and decentralized Ethereum LST-backed stablecoin. Prisma’s CoFounder discusses all you need to know about the upcoming launch and their stablecoin which will be incentivized on Curve and Convex Finance to create a capital-efficient flywheel where users can receive trading fees, CRV, CVX, and PRISMA on top of their Ethereum staking rewards.

Will Prisma trigger a new DeFi Summer? Tune in before Prisma’s summer launch date TBD (in late July / early August 2023)!

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THIS IS NOT A RECOMMENDATION OR ENDORSEMENT TO BUY ANY TOKEN(S) RELATED TO ANY PLATFORM(S) DISCUSSED.

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Topics Covered

00:00 – Intro
06:58 – Background of anon cofounder
09:21 – Why LST-backed stablecoins
11:22 – What is Prisma Finance
13:10 – How we will use Prisma
14:35 – Bolting veTokenomics onto a CDP protocol
16:30 – Prisma fees
18:51 – Will Prisma compete with crvUSD?
21:55 – Supported LST collaterals
22:42 – How liquidations work
24:22 – Thoughts on Recovery Mode
27:42 – Likely Curve and Convex integrations
30:30 – Lessons from Frax
33:13 – Will Prisma be immutable?
34:20 – PRISMA token and its functions
35:12 – Token launch
35:47 – LSTfi onboarding new LST holders
38:15- Platform launch and L2s
40:19 – Closing

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Guest Links

Prisma Finance on Twitter
https://twitter.com/PrismaFi

Learn about Prisma Finance
https://www.prismafinance.com/

Join Prisma Discord
https://discord.gg/prismafinance

Read the first ever Mirror post Prisma
https://mirror.xyz/prismafinance.eth/wYAgS4n7aL4tNFdxSed_m_5nrNXg_3yNc18CwBdCyfU

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🙏 The Edge Podcast is produced by 4RC Labs. If you’re a DeFi/Web3 builder, contact our team at: https://fourthrevolution.capital/

All opinions expressed by hosts and podcast guests are solely their own opinions and not necessarily those of Fourth Revolution Capital. Podcast guests and 4RC may have positions in the assets or other matters discussed in this podcast. DeFi Dad and Nomatic are angels in Prisma Finance. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research.