@prism_protocol will initiate its launch on JAN 25.
The launch will have four phases in which you will be able to get $PRISM and refract your $LUNA
How do those four phases look like, and how to get ready to become a refractor?
Ultimate PRISM launch thread incoming 🙇♂️
👇 🧵/n
1/ PRISM will have four different launch phases.
You will get the chance to participate in the price discovery (Phase 1) to get PRISM.
Afterwards, you can buy PRISM for the market price (Phase 2) or farm it with your yLUNA in (Phase 4) 🧑🌾
Let´s deep dive into the process 🧐
2/ PHASE 1 | PRICE DISCOVERY
During the first phase, you are invited to add $UST to the PRISM Launch Vault, which is holding 70M $PRISM
The final amount of $UST in the vault will define the price of $PRISM 🧮
Phase 1 is divided into a "deposit" and a "withdraw" stage.
3/ Phase 1 starts on JAN 25th.
The first four days are the "deposit" stage (0-96h). You can add and remove as much $UST as you wish.
On day 5, we enter the "withdraw" stage. Now, you can only withdraw $UST. However, only one time and the amount you can withdraw decays linearly
4/ PHASE 2 | EXCHANGE LISTING
After the price discovery comes the IDO. If you participated in phase 1, you will get $PRISM based on your vault share.
Now, PRISM SWAP goes live and you are able to spot buy $PRISM for the market price 👨💻
5/ PHASE 3 | EXPERIENCE
On Feb 4th, phase 3 kicks off with the go-live of the PRISM dApp 👀
From here on, you will have access to the whole PRISM experience refracting the first asset: $LUNA
If you refract your LUNA, you will yLUNA, which you can use in phase 4 to farm PRISM
6/ But before we jump to phase 4, let´s check what the PRISM dApp brings to the table.
You will be able to refract assets (BOND) & swap them (SWAP).
In case you want to benefit from additional yield, you could join one of the seven LP pools or stake $PRISM to xPRISM.
7/ PHASE 4 | FARMING
Finally, you can use your yLUNA from the third phase to farm $PRISM.
130M $PRISM will be distributed linearly over a year.
Note that the farmed prism will be vested for a month. However, you can always stake or unstake your yLUNA freely 🧑🌾
8/ Time to become a refractor? We are so close to the PRISM launch 🙇♂️
Please note that the dates can be moved by PRISM on short notice.
In case you would like to see the deep-dive as a video, I got something for you too 🙂📹
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