Prism protocol with LUNA tokens

Terra ($LUNA) has been in the limelight in recent times for all the right reasons. Its stablecoin UST is set to unseat DAI to become one of the foremost algorithmic stablecoin in the crypto space.

Interestingly, Terra ($LUNA) also has a new way for its token holders to earn better rewards on Prism Protocol. Prism protocol is a revolutionary derivatives protocol focused on introducing new assets to the decentralized finance (DeFi) space. Therefore, in this article, you will learn how you can take advantage of LUNa tokens in this protocol.

Terra Luna in Prism Protocol

A perfect description of a Prism can be found in the way a conventional glass prism separates a beam of light into its constituent colors. Prism Protocol also makes it possible for investors to separate their assets into Yield Token (YT) and Principal (Token).

Prism Protocol

Source – Prism Protocol 

Therefore, making it possible for them to determine important aspects of their investments. For example, the exact risks they are willing to take, etc. With Prism, investors will be able to:

  • Borrow funds with zero liquidation risk by relying on their asset’s future yield
  • Be able to swap their yield rates
  • Determine the level of leverage exposure for a particle asset’s yield or price
  • They will also be able to take part in capital-efficient staking,
  • Control currency risk exposure, etc.

Moreover, Prism protocol boasts of two major tokens namely:

  • The PRISM token – functions as the base for all Prism protocol liquidity pools.
  • xPRISM – This token has both Governance and Reward properties.

Did you know that you can now deposit or stake your $yLUNA to earn $PRISM every month? This is possible by the PRISM Farms. Following the launch of the farm, an estimated 13% (approximately 130 million $PRISM) of the total $PRISM supply has been set aside for the farming event.

Therefore, the farming event will take place over one year with an equal amount of $PRISM tokens released every block. Also, the 130 million $PRISM tokens will provide to the Base Pool and the AMPS Boosted pool.

In addition, 80% of the total tokens will stay in the Base pool, while the remaining 20% will go to the AMPS Boosted pool. However, these proportion allocations may change as the farming event progresses.

This means that 104 million $PRISM tokens from the base pool will be available to $yLUNA stakers over the next one-year period. The AMPS Booster pool, on the other hand, will have $26 million $PRISM tokens.

Interestingly, a user can also withdraw their staked $yLUNA from the farm without any hindrance or penalty. The pool is also a reliable way for interested persons to earn $PRISM tokens in a lossless manner.

In conclusion, instead of sitting on your $LUNA tokens, you can make good use of Prism’s $yLUNA vaults to earn exciting rewards.

PRISM Price Outlook

At the time of writing this article, the price of PRISM was trading at $0.6197 with a 24-hour trading volume of $3,2 million and a total supply of 1 billion tokens.

For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.

Find the most undervalued gems, up-to-date research and NFT buys with Altcoin Buzz Access. Join us for $99 per month now.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.