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Pryzm Alpha Hour - $PRYZM is Live!
Recorded: July 23, 2025 Duration: 0:57:51Space Recording
Short Summary
The recent launch of the Prism token has set a new standard in the crypto space with its innovative liquidity bootstrapping pool, achieving 80% token sales and generating significant daily revenue. The project emphasizes community engagement and strategic partnerships, positioning itself for sustainable growth and yield opportunities.
Full Transcription
Thank you. Thank you. Can everyone hear me okay?
Can I get a thumbs up or a thumbs down?
Okay.
Thanks, Herb Hill.
Thanks, Hopper.
All right, nice.
I will just quickly ping in the Telegram and Discord,
and then we can get going.
Bear with me for about a moment. Thank you. All right, cool.
Hopefully people can still hear me.
Yeah.
I think basically today, yeah, I just wanted to... Oh to oh jg let me add you up
nice jg can you hear me okay yeah you know it's really weird you came in really loud and clear
before you made me a speaker now you're muffled to me but i hear you
am i am i still muffled now or is that better now you're better to me now
you're better good morning good morning i don't i don't know what it is about twitter spaces just
can't work out whether it wants to let my headset connect or whether it just wants to
reject my headset from my phone but um i just done it again i think to me you're loud and clear i
don't know if people want to give a thumbs up, but I can hear you good. Okay, cool. All right. Yeah, I thought, wow, we got 50 comments. There must be some probable spam here.
Show probable spam. Okay, yeah, wow. Oh, Scammer Doquan's in the comments. Nice.
Nice. All right. That's going to be fun when we're looking for genuine questions.
All right, that's going to be fun when we're looking for genuine questions.
Well, I basically, yeah, I thought it'd be good to catch up,
obviously do a bit of, I guess, like a debrief on the launch.
And then, you know, kind of talk about kind of what, you know, where we go from here,
what the things, what our top priorities are going to be you know and and most importantly like i want to get everyone else's um everyone else's
feedback as well uh so please if you do have comments i'm just gonna gonna block this troll
in the um we've got do kwan's prison i've seen these guys in other people's ones before, but this is fun having them here.
So the, yeah, so I think like,
and JJ, feel free to jump in any point, obviously,
but yeah, launch,
launch was, launch was super busy.
I guess, you know, it's the first ever time that to my knowledge like first ever
time a liquidity bootstrapping pool has done been done at a blockchain level um and what do i mean
by that like you know normally in the liquidity bootstrapping pool you the the weights have to be
adjusted manually by a bot so a bot
might be like okay we're going to decrease the weight every five minutes or 10 minutes or something
in the box suggests the weight uh the new weight update with prisms lvp because um it's built with
it's built as part of the blockchain rather than built with smart contracts. Obviously the weight updated every single block.
So basically it was like start at 99% prism weight
and at 10% prism weight and divide that
into how much you have to move every single block
and then do that every single block.
So it created kind of a real,
like a really interesting chart
where you kind of like continuously see the cell pressure every single block,
which I think like is super interesting and transparent compared to other LBPs
where you don't necessarily know when the next weight change
and price change is going to come exactly.
So I really liked it from that side.
I think we originally set
the parameters uh you know you're supposed to set an ldp above a fair starting price so for us that
was you know we said okay well you know a starting price where no one uh no one should be buying is uh sorry let me is um 500 million uh fully diluted valuation we set that when the prism
uh when we did the prism airdrop because we we set up the liquidity pools and everything when
we did the prism airdrop at that uh and so obviously what that actually meant was
you know the market has changed a bit since then so actually
the parameters were quite aggressive so you ended up seeing quite strong um quite strong downward
pressure from the bootstrapping pool that you wouldn't you probably wouldn't have seen if we'd
set the parameters you know the day before the liquidity bootstrapping pool based on current
market conditions so like in the end that means that probably more prism got sold from the liquidity
bootstrapping pool than otherwise would be which is you know to our mind actually ends up being a
good thing um it means the amount of funds users spent is actually less than it probably would have been otherwise um and so it's probably ended up forcing the price
uh lower than lower than it otherwise would have been in an lbp um so that was cool it was it was
um it was cool to see you know people embracing the dca side of it. I think, you know, at first we were like, okay,
is this a good thing that we're doing it over a week?
Or, you know, should we be doing it over a much shorter period?
Like some of the LBPs on Ethereum are over three days or over,
I think, you know, some of them might be over five days.
And we chose to do this over seven.
I think, you know, in hindsight in hindsight you know i'm interested in
what other people think of it but i think in hindsight worked you know actually worked well
because even though probably the initial uh the initial downward pressure created by the weight
changes was you know might have been shocking for people um or sort of startling, I should say.
It ended up, you know, it ended up because it was a slightly longer period,
the bootstrapping pool was over.
It ended up giving people to kind of like time
to process, like digest the information,
see what was happening on chain,
work out where they kind of wanted to set their orders
and what the sort of prices were um so generally um you know i think i think a week
was an okay time i think what we what we want to do is we're hoping that this you know can kind of
set an example for other fair launches where the community gets to you know buy first
before vcs before everyone else um and so we'd love people's feedback on how they thought the
launch went um and if you know if we were to try and propose to all the protocols and blockchains
that they used uh they use this kind of way of launching, then that could be a good thing for them.
And so community feedback would be super helpful
if you hear of other products or protocols
that are launching and you think that
this kind of launch method could be good for them,
then definitely let them know and let us know
and we'd be happy to chat to them.
But yeah, like ultimately
the launch meant that it was over eight percent of the Prism supply ended up getting bought out of the liquidity pool. A lot of liquidity was provided which meant that people were able to get
significant amounts of Prism tokens with very little price impact.
And now obviously like Prism incentives are live,
we're seeing people have waited a bit
for the liquidity to get added.
We saw some initial airdrop sellers
that were kind of selling their airdrop tokens
at quite big discounts um compared to
their fair values and i think you know there's definitely some community members that are pretty
happy to pretty happy to buy up those um and so yeah that's probably that's probably like my
my semi-launch recap jg you were you were you were following, participating, cheering on.
Yeah, you know, I fully participated.
I think I did pretty well.
I started, I used the DCA tool for a couple buys,
but I pretty much got everything at like a cent and a half and lower.
So I feel like I timed it really well.
And I'm excited for the op drop,
which will allow me to get like a double up with the 50% discount. That's kind of the other parts
that I'm looking forward to, to me, since this is a bootstrapping, I think some people fail to
realize, you know, in a bootstrapping price is not designed to go up. We're bootstrapping for
the pair. We're bootstrapping for the next phase in this project right so it's not just about
okay tokens live now price go up no it's like this was another component piece and we are all
i mean for lack of a better term we're all part owners now right so i'm gonna claim my op drop
i'm gonna buy my discounted prism and i'm gonna prepare prepare for the next, the next phase of, of this.
Yeah, no, I think we, um,
normally in liquidity bootstrapping pools,
about half of the tokens get sold. Uh,
I think because the price pressure ended up getting pushed down quite a lot,
uh, obviously like 8% of the, you know,
80% of the tokens ended up getting sold.
So what that means, yeah, like is,
A, more tokens went into community hands
than otherwise would have done.
And also like you say,
it means there's 2% of the tokens now available
for the OpDrop boost.
And actually because the price got pulled down, pushed down quite a lot by the selling pressure
from the LPP, the finishing price of the bootstrapping pool was something like 0.007,
which means that the activation price on the op-drop is 0.014.
So now what that means is like,
when the price hits 0.14,
oh sorry, 0.014, anyone who has the op drop boost
is gonna be able to buy a share of these 2% of Prism tokens
that are available for that.
And so the first people that are available for that.
And so the first people that are going to get to buy are the people that have the LVP Chad badge,
then it's going to be people that have the Prism launch badge,
then the referrers badge.
And so I don't think everyone will take up their option
on the OpDrop boost.
And it's going to be know we would give windows for each
of those groups to like claim they're interested in what you know interested in community feedback
on how long those windows should be you know should it be you know six hours for the chads to
claim and then if they haven't done if they if there's residual left after those six hours then
you open it up to the launch people for six hours and then residual left, then you open it up to the referral champs.
So just, you know, deciding the window on those.
But I mean, you could end up seeing kind of a situation where like the activation price of 0.014 gets hit but then the
price just carries on blasting through and so you might get up to you know you can get up to
0.03, 0.04, 0.05 and people are still able to buy tokens at 0.007 so it's going to be it's
definitely going to provide some really interesting dynamics and And it is literally a free option for people.
And so they can then decide whether they want to use their discount voucher or not use their discount voucher.
That's going to be fun to watch.
I mean, everyone that bought in the launch gets to kind of like share in the success if they want, if the price ends up doubling from launch.
sharing the success if they want, if the price ends up going,
doubling from launch, which I think, you know,
given where it's trading and kind of like relative value versus on tokens,
I can't opine too much, but I just think at the current market cap that it's at,
there's, you know, there's, there's good, good potential upside, I think.
But yeah, I, I, not financial advice, et cetera, et cetera.
I'm obviously biased and conflicted. It's, you know, blah, blah, blah.
But it's just going to be, it's going to be, you know, fun to watch.
And I think there's a lot of people probably that are like,
that hadn't been following along with Prism or didn't want to learn,
you know, hadn't learned how to use prism that might now be reengaging because the,
you know,
because the tokens out there and you end up getting a bit more interest and
all the airdrop,
you know,
airdrop hunters have now had the opportunity to kind of like clear out.
So yeah,
I'm,
I'm excited to,
I am excited to see what happens here.
Hey, Ali.
I just wanted to chime in real fast.
You know, more than just the Prism token being live, I was just listening to the space with Magmar talking.
And you know how they pivoted away from EBM.
Personally, I'm happy that this happened.
And he also stated what the direction is
for uh generating like value into cosmos and into atom and you know prism since prism uh does best
of giving atom utility and um what they're going to do is i think i think prism is right um is
perfect to capture a lot of the network effect, right? Because basically what they're talking about is software as a service for like big corporations and even governments know, using the stack and they have validators and they're coming in through the infrastructure, then these are going to become like a river of assets that Prism will have access to do its thing with.
Right. So I, you know, anybody who's trying to catch up on what's going on, they recorded this space.
You should just give it a listen. he talks very clearly what the direction is and i think it's going to have a big impact especially um where the market cap is right
now prism i think the network effect could be huge and um i think the token launching now is
kind of serendipitous and perfect timing to be honest yeah i'm i'm with you that I'm super happy, Dave. Abandon Cosmos said, or the Cosmos Hub said,
what we're going to do is we're going to allow people
to deploy smart contracts on the Cosmos Hub.
And what we're also going to do is we're going to add an EVM module,
which allows people to deploy contracts on the Hub
that are written in Solidity.
So what that kind of meant is people could, you know,
are they could deploy on the hub without needing to change
their code or Uniswap could deploy on the hub without needing
to change their code because that's all written in solidity.
What, like generally I think, you know,
cool for the hub to have smart contracts if there's
unique stuff that's going to get built on the hub um what I was what I was kind of
a bit disappointed by uh was the direction they were going is they were like we're just going to
deploy a you know a um we're just going to deploy and kind of another generic decks on the hub and that's going to be a priority and we've invested in that and actually we're not going to deploy kind of another generic DEX on the hub and that's going to be a priority
and we've invested in that
and actually we're not going to show interest
to other DEXs around the interchain
or we're going to deploy a generic money market
on the hub
and to me that kind of
and I know you and I chatted about this JG
and DMs and stuff as well
but to me that just said
all that's happening now is the hub has decided that it just wants to be a generic smart contract platform
like any of the Ethel 2s or, you know, Ethereum itself or Solana
or something like that.
And I just think if you're trying to compete with those on what they're doing
and you're not building any unique products necessarily straight away.
You're just focusing on building,
building generic products when you already have osmosis as the, you know,
as the swapping hub of the inter chain and you already have, you know,
decent money markets or beer at the moment, it's just on a neutron really,
but hopefully,
hopefully Mars will get more active on osmosis and other places
where there's good liquidity.
But I think it's great that they're now not just going
for being a generically competitive hub
and they're focusing actually more on,
what they were trying to do before,
which is be the internet of blockchains, provide a, you know,
a framework for people like Prism or DYDX or, you know, Osmosis
to set up, you know, unique app chains that take all the standard modules
from the Cosmos developer kit,
but then are also able to kind of write your own bespoke modules
like we've done with Flowtrade, PulseTrade,
RIMM, all these different things.
So yeah, so I'm with you.
Like I really like the new direction.
You know, Ondo is one of the big teams
that is going to be deploying
the Cosmos SDK blockchain.
That means that they're going to be deploying
all the equities and ETFs tokenized onto the interchain.
So it's all hopefully going to be transferable via IBC,
which means you're then going to be able to trade
all of these tokens via IBC.
And what the super cool thing is that Ondo on those doing which is really cool for prism is it's not just going to be tokenizing the stocks
without a cash flow like they're going to tokenize the stocks with their dividends so if you just
hold the apple um the apple token that gets issued by undo what what they've said is if there's any
dividends paid then your token is just going to increase
in value then the dividends aren't going to get paid to you out in cash flow the dividends are
going to get um effectively also compounded for you that's kind of super cool because that means
as you know for prism we can then start allowing people to like trade yield on Apple shares or, you know,
the S and P ETF or whatever people want to,
it's going to be really cool.
Or even things like,
you know,
if on those start tokenizing like emerging markets debt,
you know,
you've got dollar denominated debt with a 15,
20% yield.
So you can start,
you know,
trading that trading yield on that kind of stuff or like getting yield on that. think it's going to be i think it's really really cool and we'll see what
happens with the institutions and the sovereigns that they kind of are looking to onboard but
i feel like yeah i feel a lot more excited about the cosmos sub direction now than i did
a couple of weeks ago and yet like prism prism benefits because we're in the middle of all of that action
and we're all connected via IBC and IBC Eureka.
And, you know, the Cosmos Hub
is still developing the EVM module,
which means Prism is going to be able to use it,
which means Solidity DAPs
will be able to deploy on top of Prism
and people will be able to interact with Prism using MetaMask.
And they still said that that's going to be coming out, I think, Q3.
Correct me if I'm wrong, JG, but I think that's still what they were saying
they're going to be doing for Babylon and some of the other chains
and Ondo as well.
So that's great for Prism. And then the other great thing is,
you know, Atom should benefit.
And on Prism, you can speculate and trade on Atom.
You know, we actually, one of the things that happened
in the midst of the launch actually was,
photons on Atom got increased
because it is the most liquid asset
because instant yield campaigns
like the backbone campaign that's going on at the moment
use Atom.
So now Atom liquidity shot up thanks to,
you know, the photons increase
and people deploying more Atom into the base pool
in particular, which allows for much cleaner swaps
between Atom itself and C Atom or or P atoms and vice versa.
And so, yeah, if you want to, you know, if you want to,
if people in the cosmos who are bullish atom
want to speculate on whether they think atoms
are going to increase in price, then, you know, they'd be,
you know, in my view, and hopefully lots of the people here,
I guess, because it will prison music. It's like,ism users, like, if there are people that think they're
Atom bulls and they're not looking at Prism and not looking at, like,
whether they can get 30% yield or 40% fixed yield on their Atom rather
than, like, the 20% they're getting from being delegated and locked,
then these people aren't really Atom bulls if they're
not looking at how they can, like,
actually optimize properly.
So, yeah, so I'm excited for that,
definitely for the new Cosmos direction, for sure.
And then, yeah, JG, why don't you touch on
how the campaign's going?
Normally, with these instant yield ones,
the excitement sort of really ramps up to the end
because you get, you know, people that are opportunistic
about where Atom's trading and selling some future yields
by some sold tokens or some SCAR tokens.
But then, like, right at the end,
you get people looking at the relative value and being like,
okay, I might just burn my whole stack and do instant yield looping in order to be able to maximize my soul now that I know roughly how many I'm going to get because it's near the end.
But how's it all going?
I mean, it's been a really smooth experience just for any project who might be interested.
It was a very, it's been very easy.
We've had a very good experience with the Instant Yield.
I think in Season 2, because there's more options,
I think we should play with some of the other options besides just Instant Yield.
We totally want to experiment and also be able to showcase that.
We're not stuck in a singular vein.
To us, you know, again, like we are a backbone, you know, we are L2 builders, but we're really
users, right?
So we want to showcase these tools.
And so, you know, again, I just want to harp on the fact that, you know, what Prism's done
and the path that they've chosen, it really is one of the most organic launches I've seen.
They do not have anybody sitting in the wings, like waiting to dump who's like made like some crazy weird deal.
Right. To me, that's like such a nice thing to participate in.
So I think the season's coming to an end. Season one's coming to a close, I think, in like a week or two.
Season's coming to an end. Season one's coming to a close, I think, in like a week or two.
So we do need to, I mean, I'll just DM you.
We should talk about the other features and how we can showcase them in the next season.
Really want to get that happening.
Yeah, nice one. And then we've got, hopefully we can get the, fire up the Necropolis now
and start doing the refractive beast NFTs and all the bits and pieces.
I think now that we've got launch out of the way and have a little bit more
bandwidth, some of that stuff will be exciting.
Yeah, we can, we can get right on that. Actually. I'm pretty sure.
I don't want to speak for Thomas, but, but he knows that that's,
that people are waiting for that.
Yeah. I think, I think, I think you guys whitelisted the address,
didn't you? So it's all,
it seems like it's all in a pretty good situation to go.
Yeah, we're ready.
We're ready to go.
We're just waiting on this thing to kind of settle, and we can now, all of us, focus on the next thing.
Yeah, yeah, yeah.
I mean, it's definitely, I don't know.
It's so hard.
Like, the market just kind of feels a bit like a coiled spring at the moment
and you kind of really open it things off.
I think people, I think it'll be great for Prism users just given the,
you know, given the ability to buy cheap Bitcoin or cheap or discounted Atom,
et cetera, at the moment.
So I think there should be
if the market really starts getting a bit more volatility upwards there should be some
hopefully some great success stories um yeah and then and then so in terms of like what
what the team's focusing on at the moment um and then now we've transitioned out of launch phase.
I think the main focus is driving utility,
revenue and network effects to the Prism token.
So, trying to increase the audience
to increase the audience for the Prism token.
And I think some community members
have had some really helpful ideas on that.
I think the utility of the PRISM token
is going to be something that,
obviously something that we're focusing on.
So launching these other products
are going to add extra utility to PRISM itself,
but also the tokens created by PRISM.
So, you know, P tokens and Y tokens.
And the first thing that's going to launch is the uh seal order book which is like a unique reservation based order book i think we
it's going to add a lot of utilities prism tokens but you know the way we want to we want to pitch
this and you know we'd love the community to help with this is we think that this is is the
interchain order book like you can have tokens on cosmos or um or uh you know osmosis or injective
or any any chain with an ibc connection and um what's called packet forward middleware and you
can just with one click using seal,
you can create a limit order for that token at any price you choose for any other token.
So you don't have to stick specific pairs.
You can create any order.
And then people who see your order,
the moment that they believe that they can execute your order,
they can then reserve your order
and then go buy the they can execute your order they can then reserve your order
um and then go buy the tokens uh and fulfill your order and so it means that you get really you get really fast execution because the moment is profitable for someone to
uh complete your order they'll they'll reserve it and do it but they don't have to fund all of
the capital straight there so you don't have to have all of the liquidity sitting on prism someone could say okay well actually you know randomly there's some really
good price for this token on neutron so actually i'm going to reserve the order on prison and that
gives me five minutes to go and buy the token on neutron bridge it over and then fill the order on
prison fill the reservation the thing i'd reserved on prison um so that's going to be that's going to be a really useful tool i think for people but also
you know where you have yield tokens and principal tokens that you have a fixed price that you'd like
to sell at um and you don't want to you don't necessarily want a dca or you don't want to do a
flow trade this gives this is just a really useful tool for people.
And then, yeah, and then we've got the money market.
We've got the contracts written for that.
And this is, as I mentioned before, like fixed term, fixed interest,
no liquidations, no oracles.
So that'll be something unique that I think works really well
with principal tokens, which are you know
fixed interest fixed term uh tokens so you know depositing those into a money market that's fixed
and fixed interest makes a lot of sense um and those are going to be deployed the aim of those
is to deploy them both on prism but also on top of ethereum and you know airdrop tokens from each
of those will have their own token and then airdrop
those tokens to, there'll be an airdrop to Prism holders.
Already had a couple of people asking actually like which Prism tokens it'll
go to, you know,
will it go to Y Prism or will it go to general, you know,
Prism LPs or whatever.
So, you know,
more than happy for people to make their suggestions of what they think is, they think is the fairest.
But we're going to try and get to see it out as soon as possible.
You know, hopefully there's a live version within, you know, a matter of a matter of weeks.
And then, yeah, like we want people to, you know, the other side of side of this is you know what's the point in a project
ideally you know for us it's
to try and you know produce cash you know the project needs to produce cash flow
for token holders and so Prism's
you know focusing on Prism's treasury and increasing the amount of revenue that
gets sent to Prism's treasury is important.
I think at the moment, Prism's treasury is making about $2,000 a day at current token prices.
So I think that equates to something like $700,000 a year.
year and what that means is $700,000 and the market cap is you know 1.2 million dollars
and 1.1 million dollars at the moment so you've got people to kind of consider.
And so I think with the Treasury,
Prism holders can decide whether they want to distribute it to stakers
or whether they want to do a buyback and burn
or whether they want to keep the funds
because some of the tokens that are held in the Treasury are yield-bearing
or whether they want to send the tokens to the community pool and they can despite
you know they can potentially sell that you know distribute them later on to kind of like people
that make proposals to the community pool so I think that'll be an exciting one because obviously
if they did a buyback and burn if they waited for a year to do a buyback and if everything was the same in a year and you tried to do a buyback and
burn with seven hundred thousand dollars on something that was a 1.2 million dollar market
cap um that could be that could be definitely be some fun dynamics but yeah so i think i think
doing that and um you know we're going to try and get governance live as soon as possible
that and um you know we're going to try and get governance live as soon as possible
and that that's just normal governance and then also try and get governance on uh liquid governance
so people can vote with their p prisms um for them and c prisms and then hopefully we'll look
at lp prisms as well so there's the those are kind of like some of the kind of like top priority
things at the moment
but yeah i uh we've had some really good feedback from the community
uh and that's been super helpful and i think on the launch side you know every the community like
we definitely really felt like the community kind of like really leaned into it and gave us so much helpful feedback that i think in the end we were able to do a launch that was really fair and the UI hopefully gave people the
information that they needed and a lot of that was based on the feedback we had. So I think going
forward we want to do more of the same where we keep gathering people's feedback and ideas and suggestions and we try and implement
and work in partnership with people.
We're seeing if we got any questions.
Oh yeah.
Lethal says, can you go more in depth
on the options platform coming in Q4 yeah for sure so the options platform
is uh code named hedgehog and in very simple terms i say in very simple terms options options
are uh options give great opportunities for trading that um aren't necessarily the easiest thing to understand.
Actually, anyone that understands how OpDrop works has had a good intro lesson into
how options work. And so what the options protocol does is it'll effectively say,
effectively say um i'm just trying to think of a say atoms uh say atoms at five now what you would
be able to do with the options protocol is you would be able to say i want to uh or if you hold
if you hold an atom you would be able to say i have one one atom and I am happy to sell this atom at six.
So atoms at five at the moment, you're like, I'm happy to sell this atom at six.
Anytime during the next 30 days.
And someone can buy the right off me to buy that token at six.
six the token is trading at atoms trading at five now but you'll say look i'll give someone the right
The token is trading at atoms, trading at five now.
to buy that token off me at six for 30 days so any point during this next 30 days they can buy
my atom off me at six so you might say okay well i'm going to charge someone a dollar for them to
have the right to buy my atom at six dollars6. So if you hold Atom at five
and you were going to take profits at six anyway,
then it's great for you because if Atom goes to six,
then you've collected a dollar
that you received from that person up front.
Plus they also then buy your token off you at six
in the future.
If Atom doesn't go to six, then you've kept your dollar that they paid you to
have the right to buy your atom at six and then you've also got your what you've still got your
one atom so it's effectively getting getting paid to like leave a limit order um and you can do this
from any token to any other token all that all that really needs to happen is you say i'll sell my atom at six and i for someone to have the right to buy the atom for
24 hours a week 30 days um you you tell them what fee they have to pay you and then they can decide
what fee they uh if they're happy with that fee or um you or potentially counter your fee.
So that's kind of like, most options at the moment in crypto are only on major assets because they involve people trading on margin and they need very deep liquidity in the perpetual
markets in order to be able to trade them.
This is a really new way of doing it that exists
for a lot of um it it's again one of these ones that exists in private banking and for
you know wealthy individuals um and hedge funds but it doesn't exist for retail users really as
much uh in kind of you know where you can do these what's called kind of um uh covered you
know cover call strategies or whether you're doing cash secured puts that that's the kind of thing
they'd be called so it basically means like any any any token you want to buy upside to
um you can buy the you can buy the option and any person who wants to
earn a little yield for leaving a limit order to sell their token um can earn some yield doing that
and you can't you so conversely like on that example i mentioned where someone would
buy you know someone says okay well i've got one atom and i'll sell the right to buy it at six for the next 30 days for one dollar you know that person who bought that atom that that option at one dollar
uh if if the token price goes above um above you know say atom goes up to 10
then they're super happy because they've spent a dollar they bought atom at six
um they exercise the option to buy atom at six and then they've spent a dollar they bought atom at six um they exercise the option to buy
at six and then they've got a token worth ten dollars so they're they're super happy because
um they spent a total of seven dollars and they've got something worth ten dollars um
and so like it obviously like if it goes more and more then you end up getting much more leverage
and no one risks any liquidations with options because it's all just upfront payments,
and you have the right to exercise the option or not exercise the option.
We can put out options.
Probably one of these things that's easy to understand visually,
so we'll definitely put out a proper document on it.
But hopefully, lethal, that answers the question a little bit.
And then,
and then,
yeah,
like any more I can,
I can definitely hop into it,
hop into a discord,
probably,
probably share my screen is,
is a better way to kind of explain it.
And then we'll also put documents and charts out,
but basically just,
do you want to get paid to leave a limit order?
Or the other side is people that are
like i want what's called non-recourse leverage upside to a token where i know i'm not going to
get liquidated but if the token you know really rallies then i get then i get um then i get much
much higher leveraged exposure to it so that is that crypto doi
hopefully I've pronounced that right
you've said when on
PTYT will really
expand outreach to more users
especially Koreans
we were
we really like the
mantra team we were in
doing great discussions
with them about building an om lst
uh and then i think they obviously got um you know had quite an eventful time uh and so
we sort of uh pushed that a little bit to the back burner just because they had some uh
they had some other bits to deal with but now that the dust has settled,
I think we'd definitely be interested to work with them on and on LST
so that people could do key OM and YOM.
And I think, you know, given where Mantra was trading before,
there's obviously potentially pretty good upside for people.
If I do that, but obviously they had they they had a lot
of stuff to deal with but i haven't been i haven't been involved with the uh omis myself but i've
heard they uh i've heard it's a pretty um like buoyant community i think some of our uh some of
the some of the prism community were saying saying. So definitely something we could look to do if there's demand.
I think really we want to be led by what other people,
or led by what the community wants in terms of assets
and outreach and community.
So I think, yeah, like if there's a great community
that people would think we'd get involved,
like the Omis, then that's great.
And then I think on Pism at the moment, the assets that people seem to most want to provide liquidity with are stablecoins and Bitcoin,
you know, given the popularity of USDY and Midas Bitcoin.
And then trading-wise, Atom seems, you know, Atom regularly is the most popular asset obviously now with
Prism derivatives end up
being a bit more popular but of the non
Prism assets Atom seems to be the one that
people
like trading the most
yeah like in
community outreach terms like I hope that
now the token is live some of the
you know some of the kind of like
Hedrop 5 and stuff can subside.
And that, you know, as JG was saying,
you know, obviously highlighting that
the Atom community is now not focused
on building their own smart contracts
and trying to compete with other chains.
I think hopefully there's good scope to, you know,
start getting more outreach to the Atom community to start off with and try to,
and trying to create a little bit more cohesion around the, you know,
the whole Cosmos because I think there was, you know,
it was pretty bleak for a little while recently where it felt like the cosmos hub was trying to compete with osmosis because they'd you know
hired stride to deploy an amm on there and you know the cosmos hub was then trying to compete
with neutron to be a smart contract layer um obviously neutron kind of just has mars and
astroport on it at the moment but um i think that that was their sort of raison d'etre um and so yeah so now now it feels
definitely feels less fractured so hopefully we can try and you know get you know prism will
hopefully start becoming part of the narrative because there's cool stuff you can do on prism
that you can't do any on any other chains um if anyone else has any questions feel free to feel free to come in i'm gonna i'm gonna swing
back it's not just the things that you can do right to me i'm always i the fact that that how
this has been launched and raised and i we've watched the evolution of the token and you know
that there's nobody like you didn't make any backdoor deals to me this is like the biggest
part of why i'm i'm so excited of being at this project at this level.
You know, who was it?
I think it was, what's his name?
He's one of the largest, I mean, he's one of the largest guys.
He pointed out that Pendle is like your closest competitor in offering of utility, right?
And the market cap differential is just
silly right so if we just look at this one aspect and you know and i factor in how it was launched
a fair launch like you know we've all participated we're all going to get this chance to double up
on the op drop um i'm really excited that to me this, like I'm always looking for an investment that's
like a community earning investment. I want my money to be smart money. I don't like just like
a meme coin to me. I'm like, okay, now I'm a part owner in this Prism experiment. And the yield to
market cap, as you highlighted is like 700,000 to like 1.4 million. These are great numbers.
These are great numbers. And, you know, I think a lot of times there's a lot of great ideas in crypto. And the projects are run by these like super brainiac devs who aren't really of the mind of how to make sound money or smart money or drive value necessarily to a token so I'm excited to participate in this project with you Ali as you have a more traditional understanding of money and
now paired with the devs that you teamed up with you know from TFL that have now
become you know your family probably over the last three years you know I'm
saying so this is a different dynamic of different leadership and a different
project structure and this is how I see it different leadership and a different project structure.
And this is how I see it. So not that that means shit, but that's what makes me excited about Prism.
I hate it.
Like, it's a...
I was kind of like looking at it the other day, like, sort of looking at everything on the web app and stuff the other day.
And I was like, and then just some of the comments that the community made and I was like you know it feels
like it feels fun from our perspective that you know we've created something that people
really enjoy really enjoy playing around with and that we've created these kind of you know in you know so far
there's been incentives and campaigns whether it's been awu or whether it's been you know the
photons campaign or whether it's been kind of you know op drop and these other these other bits and
pieces you know we've been able to try things out and do this experiment kind of like try new things
and not just kind of like repeat the same, you know, mistakes that other chains have made.
I think it feels good launching just to the community,
just on Prism's chain,
rather than giving a load of tokens to a sex and,
you know, paying a load of testnet users to, you know,
bump up your numbers and then giving them a load of tokens that they just go and then cheat on the sex later on and then i think you know i think
the reality is on a lot of these on a lot of these tokens like market cap is kind of just
it's almost just a fake number because any person can launch a token at some sort of crazy market
capital start a crazy market capital centralized exchange,
and there'd be not enough trading volume to really shift the price.
And then market makers are given a load of tokens on loan,
where they're like really incentivized to effectively pump the price much more
than airdrop recipients can dump it.
So it's a lot of,
you know,
a lot of this stuff's just looks artificially,
looks artificially high.
Whereas this is the price of Prism in the LBP is,
is genuine buying demand.
Like the demand had to,
the dollars actually had to buy it to put the price there
rather than us just picking some price that we decide
that's kind of like artificially high
and then paying a market maker to like,
keep pushing it up temporarily.
So I think what that means is we've now given you,
you know, users now have had the opportunity to kind of like accumulate.
And then what we now need to do is kind of work on distribution to make sure that more buyers can do it, more people can become aware of it.
But I think it's, you know, people probably saw absolutely zero Cosmos influencers flagging prison and that's that's not because we didn't have them you know
in our dms or uh or messaging us in you know telegram groups but the reality is all of them
wanted some sort of pretty much all of them wanted some sort of side payment side tokens
some sort of off-market investment opportunity or you know sponsorship of their
youtube channel and that kind of stuff and for us that's not a that's not a genuine transparent
way of doing it and we'd rather say no we're not going to give you tokens we'd rather sell tokens
cheaper to community like the aim of this isn't to pay you guys to shill it and then us you know the team be able to dump tokens
at a higher rate at a higher price the aim of this is get tokens out to the community and then
um at a lower price and then there's no better marketing than you know every everyone doing well
out of something and and you know having a having once you ignore the first part of the LPP curve, having a nice, you know, potential, potential kind of opportunity for everyone to kind of like
share in some, sharing some decent performance. So yeah, we, we are excited about it. It's definitely
been a really fun experiment so far. And we've got a lot of crazy people in the community
that have been with us all the way
and new people coming in recently as well.
So I'm excited about it.
I'm just seeing if anyone else has written any other bits.
I think, just trying to think what else there is.
I feel like, yeah, we're trying now that things are,
we've got a little bit more time to process
and a bit more bandwidth on the team.
Please do keep giving suggestions and feedback
because we want to make this product,
we're making this product for the users.
And now obviously, not just the users now, it's like the Prism token holders as well.
So please do, that's been super helpful that everyone has been forthcoming feedback.
And if people have stuff to add then please do
yeah please do let us know um and we'll be yeah around discord all the usual all the usual places
are great and then yeah follow the obviously rewards wise now you've got if you provide
liquidity with prism what we're doing is we have the, we've got these fixed incentives, which again, like, I think the reason that we did that is so many times when a token launches, like, you know, a Cosmos coin launches, they launch a liquidity pool with USDC.
The liquidity pool is 50 this token 50 usdc
normally the token launches at a really high price um people go and buy the token to provide
to this liquidity pool the liquidity pool has some absolutely crazy apr on it to start off with um
it drags everyone in to buy this token and not only provide liquidity with it,
also the staking APR is absolutely insane to start off with.
So everyone buys it and then locks it for 21 days
to delegate it or provide liquidity.
And then the token absolutely craters
and users ended up getting wrecked.
And then loads of other people joined
and the APR ends up getting massively diluted.
We didn't want to do that.
So like what we've done for the incentives is we said,
look, if you want to provide liquidity,
you can earn 200% fixed APR plus swap fees.
So it doesn't matter if new people join,
you know that your APR isn't going to get diluted.
We're going to pay this to you once a day.
And so we're like moving away from that model that we've seen that I just mentioned where you have crazy APRs
that suddenly get diluted and then everyone rushes to ape the token
and then gets absolutely wrecked.
So those are the incentives we've got now for Prism.
They're fixed APRs, so it's kind of like a guaranteed rate
and you don't get diluted.
And we've also got, yeah, like the Photons campaign
is still ongoing and that's, you know, people now,
you know, that shares 5 five percent of the prison token supply.
So people now have a good idea of like what that's worth or what they think that might be worth by the end of, you know, when when it pays out in a month's time.
And things should be interesting with instant yield towards the end, which I think is, you know, works for up to 2% of that supply.
And then obviously, yeah, like the backbone campaign, JG will, you know, we'll chat and come up with other ideas as well.
You know, and definitely, I think probably, yeah, I don't want to put words in your mouth, but I'm sure community might have some good suggestions
of things they'd like to see included in the Soul campaign,
like if you were to use bits other than instant yield.
So, you know, community can let us know what they like,
what they don't like, some of the PRISM campaigns
and what they think would work well for Soul and Scar.
But, yeah, I think... Yeah's thanks thanks very much everyone for like all the all
the feedback and being part of the community and helping make the launch you know uh go smoothly
and you know it's jobs only just getting started now so um it's good to have that milestone behind us.
But yeah, I appreciate everyone's support.
I will, I will leave it for now. So we're just, I realized we're just on the app, but like,
if anyone's got anything else to say or add,
feel free to write it in the comments here and we'll look at it or ping us in
pedagram and discord.
Nice one. Thanks everyone. look at it or thing us in um pedagogy and discord nice one thanks everyone have a good ollie cheers cheers joji Thank you.
