Prisma Finance is live: Unleash the Power of Liquid Staking Tokens on Ethereum Mainnet

We are excited to announce the successful deployment of Prisma Finance on the Ethereum mainnet!

Starting Friday at 9am UTC, users can access the protocol at and realize the full potential of their liquid staking tokens (LSTs).

To ensure a smooth and secure experience for all users, Prisma Finance is undergoing a guarded launch. We have set debt caps on each collateral, and will progressively increase them over time. Interest rates are set to 0% to encourage early participation. Token emissions are initially disabled.

At launch, Prisma supports the following assets as collateral: wstETH (Lido), rETH (Rocket Pool), sfrxETH (FRAX), and cbETH (Coinbase). The total amount of mkUSD mintable for each collateral is $6M for wstETH, rETH and sfrxETH, and $2M for cbETH. We will give a 24 hour notification prior to any increases in these caps.

The PRISMA Token

As we exit the guarded launch, Prisma will introduce the PRISMA token. Users will be able to lock PRISMA to receive vePRISMA, allowing them to participate in governance and boost their PRISMA emissions.

With vePRISMA, LST protocols can incentivize demand for their tokens, increasing yield opportunities by voting for PRISMA rewards on their own collaterals.

vePRISMA can be directed towards boosting PRISMA rewards:

  • for stability pool staking

  • for minting new mkUSD with a certain collateral

  • to maintain an active borrow with a certain collateral

  • for staking LP tokens that are relevant to Prisma

Details on the specific tokenomics will be released prior to the start of emissions. Read more on what sets Prisma apart here.

Protocol Security

The security of the Prisma protocol is our top priority:

  1. Our smart contracts have been through multiple independent third-party audits. The results of the audits are available in the External Audits & Security section of the Prisma documentation.

  2. The 3rd-party Prisma Risk Team has evaluated all of our initial collaterals for potential risk. These reports are available in our documentation.

  3. We are actively monitoring the protocol at all times for any potential attack vectors. In the event of a threat, the emergency multisig can step in and quickly pause protocol operations. The emergency multisig cannot access or block withdrawal of user funds under any circumstances.

The Future of Liquid Staking Tokens

The launch of Prisma Finance on Ethereum mainnet marks a significant milestone in our mission to extend the utility and use of liquid staking tokens throughout the DeFi ecosystem. We aim to serve as a critical infrastructure, providing secure and efficient access to liquidity for all LSTs.

We look forward to the journey and hope you will be a part of it with us! 🌈

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