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Stablecoin protocol Prisma Finance announced it has raised funding from a group of supporters, including <a target="_blank" href="https://tokeninsight.com/en/coins/curve-finance/overview">Curve</a> founder Michael Egorov, <a target="_blank" href="https://tokeninsight.com/en/coins/convex-finance/overview">Convex</a> founder C2tP, <a target="_blank" href="https://tokeninsight.com/en/coins/frax/overview">Frax Finance</a>, OKX Ventures, and others. The amount is not disclosed.Prisma Finance will launch $acUSD, a decentralized stablecoin fully collateralized by <a target="_blank" href="https://tokeninsight.com/en/coins/ethereum/overview">Ethereum</a> liquid staking tokens (LSTs). Users will be able to mint $acUSD using $wstETH, $cbETH, $rETH, $sfrxETH or $WBETH as collateral. Prisma Finance will incentivize the stablecoin on Curve and Convex.Prisma Finance's codebase is based on <a target="_blank" href="https://tokeninsight.com/en/coins/liquity/overview">Liquity Protocol</a> and is immutable. The parameters will be governed through the Prisma DAO using a veToken model. The protocol's tokenomics and mechanisms will be revealed soon.&nbsp;<a target="_blank" href="https://tokeninsight.com/en/cryptocurrencies">TokenInsight</a> is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email <a href="mailto:news@tokeninsight.com">news@tokeninsight.com</a>. Your trust will be well respected.

Stablecoin Protocol Prisma Finance Raises Funds from Curve Founder, OKX Ventures and Others

TokenInsight

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