[FIP - 227] FRAX <> Prisma Finance pre-launch raise participation

Summary

Prisma is a brand new innovative Liquid Staking Derivative protocol. It will onboard a variety of liquid staked Ethereum derivatives (from Frax, Lido, Rocket Pool, Binance, and Coinbase) as collateral to mint a stablecoin which will be incentivized with CRV/CVX and our own governance token PRISMA. The loans will be self-repaying using the yield generated by the staked Ethereum and the protocol will become omnichain with LayerZero.

Token type: PRISMA will use the ve-Token model and will control several aspects of the protocol:

• The stability pool
• Pool parameters for new collaterals
• Protocol fees

Users can vote on which collateral will receive the most PRISMA emissions and vePRISMA holders receive protocol fees in the form of prUSD.

Allocation: 100.000 USD/FRAX for 1.000.000 PRISMA

Vesting period: Allocations will be vested over 12 months linearly.

Valuation: Prisma is raising 3,000,000$ for a 10% stake in the protocol. (30$M valuation)

Notable investors and commitments: Michael Egorov (Founder @ Curve), C2tp (Founder @ Convex), and Tetranode.

Vote

• For: Commits to investing 100,000 USD/FRAX to Prisma Finance and in return receive 1,000,000 PRISMA.
• Against: Do nothing.