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Prisma FinancePrisma Financeby0xcaD9653550286Eb1D4779D622A6a5218b446b57CPrisma Finance

[PIP-46] Shutdown Prisma Finance & Introduce Resupply

Voting ended about 1 year agoSucceeded

This proposal outlines the plan to sunset Prisma Finance to prepare for the launch of Resupply by executing the following actions:

  1. Terminate Prisma Emissions: Replace the current Prisma emissions schedule contract with one that returns 0.

  2. Disable Prisma Debt Caps: Set all Prisma Finance debt caps to 0.

  3. Sunset all collaterals: Set trove managers to sunset all collaterals, raising interest rates and encouraging redemptions.

  4. Reallocate Treasury Assets: Transfer all Prisma treasury assets and tokens held in the fee receiver to the Resupply treasury.

  5. Distribute RSUP Tokens: Prisma tokens will be redeemable for RSUP tokens. All PRISMA, cvxPRISMA, and yPRISMA holders will be redeemable for RSUP tokens. 15% of the RSUP supply is allocated for Prisma redemptions. An additional 2% of RSUP supply is allocated for Prisma hack victims not yet made whole.

These actions will officially end Prisma Finance’s operations and pave the way for the launch of Resupply, a new Convex Finance and Yearn subDAO. Resupply will introduce a decentralized stablecoin backed by Collateralized Debt Positions (CDPs), leveraging the liquidity and stability of lending markets.

Off-Chain Vote

Yes
2.67M vePRISMA100%
No
0 vePRISMA0%
Abstain
0 vePRISMA0%
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Discussion

Prisma Finance[PIP-46] Shutdown Prisma Finance & Introduce Resupply

Timeline

Dec 23, 2024Proposal created
Dec 23, 2024Proposal vote started
Dec 26, 2024Proposal vote ended
Jan 11, 2025Proposal updated