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Stablecoin protocol Prisma Finance announced its successful deployment on the <a target="_blank" href="https://tokeninsight.com/en/coins/ethereum/overview">Ethereum</a> mainnet. The protocol will be accessible to users today at 9 am UTC.
Prisma Finance allows users to use $ETH liquid staking tokens (LST) as collateral to mint the protocol's stablecoin, $mkUSD, and supports $wstETH, $rETH, $sfrxETH, and $cbETH as collateral. The protocol is undergoing a Guarded Launch and initially, there's a debt cap for each collateral. The total amount of $mkUSD mintable for each collateral is $6 million for $wstETH, $rETH, and $sfrxETH, and $2 million for $cbETH.
After the Guarded Launch, Prisma Finance will launch its token $PRISMA, which can be locked by users to receive $vePRISMA, allowing them to participate in governance and boost their $PRISMA emissions.
Related: <a target="_blank" href="https://tokeninsight.com/en/news/stablecoin-protocol-prisma-finance-raises-funds-from-curve-founder-okx-ventures-and-others">Stablecoin Protocol Prisma Finance Raises Funds from Curve Founder, OKX Ventures and Others</a>
<img src="https://s2.tokeninsight.com/static/calendar/img20230901024741110e5edf-b5bd-4557-bc27-dd9cfed69935.jpg">
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Stablecoin Protocol Prisma Finance Live on Ethereum Mainnet, to Launch $PRISMA Token

TokenInsight

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