Thread by @pLUNADAO

"WHAT THE F*CK IS $pLUNA?" Say no more!

Finally it's here, the COMPREHENSIVE GUIDE to $pLUNA 📚📚📚

A thread🧵for all #LUNAtics, #THORChads and those just looking to invest in strong fundamentals 🚀

1/ The overview

1. What is $pLUNA? (tweet no. 2)
2. What can you currently do with it?🛰 (tweet no. 7)
3. What will you be able to do with it #soon?🚀 (tweet no. 10)

LFG!

2/ What is $pLUNA?

To understand $pLUNA, we must first introduce its parent: @prism_protocol and their one-of-a-kind "refraction" mechanism that they recently introduced to the @terra_money ecosystem.

3/ By refracting your $LUNA on @prism_protocol , you are effectively splitting it into an equal amount of its two components:

- $yLUNA (detailed guide coming #soon!) and
- $pLUNA

4/ Many seem to still be struggling as to "why" such a refraction mechanism, i.e. the splitting of $LUNA, is necessary.

The answer...

5/ The team at @prism_protocol identified the chance for a whole myriad of use cases if multi-functionality (staking, governance, etc.) tokens could be split into sub-tokens that are each assigned a part of the original token's functionalities.

6/ A TVL of already > 300mm🤯seems to confirm their idea, although the true extent of @prism_protocol's capabilities will become more and more apparent in the coming weeks and months!

Anyway, we digress...

7/ Now that we've covered that $pLUNA is a synthetic sub-token representing a part of the underlying $LUNA, let's look at:

What can you currently do with $pLUNA?🛰

8/ Currently, $pLUNA's functionality is admittedly limited. You can..

- trade it on @prism_protocol's AMM DEX or you can
- earn trading fees from #liquiditymining in the $pLUNA/ $PRISM pool

9/ Another worthy mention is $pLUNA's ability to unlock premium features on @coinhall_org. As one of @prism_protocol's validators they deserve a huge shoutout for recognizing $pLUNA's potential early on!❤️

10/ Despite all this, current $pLUNA functionality is limited, there's no denying that.

This current lack of functionality is why we have seen $pLUNA trading at a significant discount to $yLUNA.

9/ At @pLUNADAO we believe the market to severely underestimate $pLUNA and we want to educate the broader @terra_money community, on why that might be the case!

So...

10/ What will you be able to do with it #soon?🚀

This aspect is crucial to understanding the long-term value proposition that $pLUNA offers.

11/ Collateral

As TVL on @prism_protocol continues to increase, more & more projects within the @terra_money ecosystem are recognizing the win-win situation for cross-protocol integrations of #refracted assets.

12/ One of the major use cases will be the ability to lend against $pLUNA, i.e. use it as collateral. We've said it before: Only a matter of time until we see the $pLUNA on:

- @TeamKujira 🐋
- @EdgeProtocol 🔪
- @mars_protocol 🪐
- @Levana_protocol 🐉

13/ Further, and this is a big one as well: #Governance rights of the full underlying $LUNA belong solely to $pLUNA.

What that means: You can currently get liquidation-free leveraged exposure to $LUNA governance rights by buying $pLUNA 😲

14/ At current ratio that is 4.5 $LUNA votes for the price of 1👀

If you're thinking: Well, but I don't care about on-chain #governance, I rarely ever vote on something in the first place...

15/ Well, we could try having @anchor_protocol and @JunoNetwork telling you about their recent showcases about the importance of governance..

or...

We might simply say, "#bribes are coming".

That means you'll be able to earn a substantial APR for voting with your $LUNA.

16/ If we look at other networks, we can easily see #bribe APRs of > 20 %.

What's 4,5 x 20 %? The then attainable yield on $pLUNA bribes at current market prices 👀📈

17/ Need we say more 😉?

Alright, here's some additional alpha...

At @pLUNADAO we are hardcore #LUNAtics and have $pLUNA's best interest in mind.

As such, something interesting for all $pLUNA holders is cooking behind the scenes🤫🤯

18/ And that's it: We hope you enjoyed this guide on $pLUNA 📚📚📚

What you make of this information is up to you...

In the meantime, come join us at @pLUNADAO to stay in the loop and not miss out on any developments❤️