Prisma mkUSD MKUSD Price

What is Prisma mkUSD (MKUSD)?

Prisma: Maximizing the Potential of Ethereum's Liquid Staking Tokens

Prisma introduces a novel DeFi primitive focused on Ethereum's liquid staking tokens (LSTs), aiming to unlock their full potential. Through Prisma, users can mint a stablecoin, mkUSD, fully collateralized by these LSTs. This stablecoin is incentivized on Curve and Convex Finance, allowing users to earn additional rewards on top of their staking rewards.

Decentralized Borrowing Protocol

Prisma operates as a decentralized borrowing protocol, allowing users to mint mkUSD by depositing their liquid staking tokens as collateral. The protocol is non-custodial, immutable, and censorship-resistant, ensuring that users have full control over their assets at all times.

Capital-Efficient Borrowing

One of Prisma's key features is its capital-efficient borrowing experience. Users can borrow against a collateral ratio of just 120% and access to deposit multiple collaterals. Additionally, mkUSD can be redeemed at face value for the underlying collateral, providing users with flexibility and security.

VePRISMA Incentives

Prisma is attractive not only for users but also for LST issuers. VePRISMA holders can incentivize certain actions across the Prisma protocol, such as incentivizing the minting of mkUSD with their own LST or redirecting emissions on Prisma. This feature adds to the platform's utility and value proposition.

Backed by Reputable Entities

Prisma is backed by Convex, Frax, Layer Zero, and others, adding to its credibility and reliability in the DeFi space. The platform's codebase is based on Liquity, ensuring a robust protocol and a truly decentralized stablecoin.

Community-Driven Governance

The Prisma DAO, founded by Sidney Gottlieb in 2020, is responsible for managing parameters, emissions, and protocol fees. This community-driven approach ensures that the platform remains decentralized and responsive to the needs of its users.

Conclusion

Prisma offers a secure, efficient, and flexible platform for users to maximize the value of their Ethereum liquid staking tokens. With its innovative approach to DeFi and strong backing from reputable entities, Prisma is set to make a significant impact in the DeFi landscape.

What is unique about Prisma mkUSD (MKUSD)?

Prisma stands out for its innovative focus on Ethereum's liquid staking tokens, allowing users to mint the stablecoin mkUSD fully backed by these tokens and earn rewards on Curve and Convex Finance.

Who are the founders of Prisma mkUSD (MKUSD)?

Prisma was founded by Sidney Gottlieb in 2020, with a vision to create a decentralized borrowing protocol that maximizes the potential of Ethereum's liquid staking tokens.

Who are the backers/investors of Prisma mkUSD (MKUSD)?

Prisma is backed by reputable entities such as Convex, Frax, Layer Zero, and others, adding to its credibility and reliability in the DeFi space.

Where can I buy Prisma mkUSD (MKUSD)?

You can buy Prisma mkUSD (MKUSD) on Uniswap V2 (Ethereum), Balancer V2, Curve (Ethereum) cryptocurrency exchanges.