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Pryzm Alpha Hour - $PRYZM Launch, Updates, and More!
Recorded: July 2, 2025 Duration: 1:02:39Space Recording
Short Summary
Excitement is palpable as the Prism team gears up for a significant token launch, unveiling plans for an NFT marketplace and innovative yield strategies, all while emphasizing community involvement and growth potential.
Full Transcription
Thank you. Thank you. Thank you. jg can you hear me yes yes glad i'm clear nice how you doing sir
uh you know i'm good i'm good i've been up since 3 a.m when you uh messaged
no i'm an early riser so it's all good it's all good i was i was up
okay i feel like when you're um when you're wet
i think you cut out can you hear me you cut out. Can you hear me?
You cut out for a second for me.
Sorry. Can you hear me?
Yeah, you're back.
I'm back.
How are you doing, Melina?
I'm happy you guys could hear me.
It's been one hell of a nice day on X Spaces.
Happy we could all hear each other.
I'm just changing over my mic, so just give me a second. Thank you. Sorry about this.
I'm having mic issues
I should be one minute
Sorry about that
Talk amongst yourselves
Apologies
I was about to ask
Backbone
Are we ragging?
How are you Backbone I forget your name I just know the
handle oh no worries no worries um it's JG um behind the mic hey JG hi hi hi uh yeah you know
things are really good you know we're really excited you know if you want to stay on topic
about prism we're really excited for this launch like I few minutes ago, I don't know if you heard, but, you know,
Ali, he messaged us really early this morning, letting us know that our wallets have been
whitelisted. So, you know, we're going to get ready to deploy an NFT marketplace. We're getting ready
to deploy a grave digger for B Prism. We're getting ready to, you know, try to time the
refracted beasts, I believe is the name of the collection. Like We're getting ready to, you know, try to time the Refracted Beasts, I believe is the
name of the collection. Like, we're getting ready to really try to start to get the momentum around
Prism going, the culture around Prism going, the education around, you know, why auto compounding
and compounding is really such an important financial tool, especially in today's world,
right? These are like the real, like, honestly, like when I look
back at my life, and I'm like, what did I learn, like, in schools, and like, later on in schools,
and I did not get good financial life lessons, right? And so I think this is like, really
a perfect time to highlight the power of the tool suite that has been built on Prism,
and like, what's coming after it. And again, so Backbone is, you know, for us, we are hyper focused on building culture.
Prism is hyper focused on building, you know, powerful DeFi tools.
And so we think that coming together and having fun is the way to go about it.
And so we're just really excited.
And so that's our news.
That's our news for this morning is that, you know, Backbone has permission to deploy on Prism. We're getting
start to get ready. We have rewritten our marketplace contracts for collection offers.
That was something that we haven't had and it was probably the most requested feature.
So we're testing that. We're getting ready to test that out on Terra first. We're just going to test out all the functionality of the new front end.
And we should be deploying on Prism shortly and trying to coordinate with Ali and the team around the launch of their token for the best impact.
So, yeah, that's our morning.
And I've been going since 3 a.m. in L.A.
It's 10, 10, 16.
I'm excited for that. I think it's going to be a.m. in L.A. It's 10, 10, 16. Yeah, I'm excited for that.
I think it's going to be the first proper thing to deploy.
I think we, can you guys hear me okay now?
Is that any better?
Yeah, you sound good.
You sound great.
Okay, cool.
Yeah, no, I think we, I would like you when I was saying Gigi,
like I think it'll be, yeah, one of the first proper things to deploy.
And also it works out really well because we had uh we um you know
uh we launched the awu mean token originally as like a kind of way of having like a main net on
a test net on mainnet if you want so people could like try out refracting and yield trading and that
kind of stuff um with a completely free token that we airdropped to
everyone uh who's going to get you know we airdropped to like 300 000 wallets or something
like that just this free meme token that was able to be used as gas on prism and like had all the
functionality um so lots of people lots of people did really well with it and managed to trade really well with it and grow their stack because it had a, it had a crazy high inflation rate.
So people that didn't yield traded with it actually ended up losing out.
Whereas people that did yield trade with it ended up growing their stack a lot. one of the things we said at the time is that we're going to try and launch a uh nf
project with it and so we've had the artwork done for the nft project but now with um backbone
labs deploying on prism you know potentially uh you know we're going to be able to uh launch this
like refracted labs campaign with uh sorry, refracted beast campaign with, with the backbone team, which could be really cool potentially.
So we need to iron out the details of that. So I don't want to, I don't want to over promise
and under deliver, but I think it's going to work out really well.
But sorry, JGg can you hear me yeah you're loud and clear you're good to go brother
oh my my mic is killing me um but yeah i i think that's i think that stuff's going to be uh that
stuff's potentially going to be a lot of fun um and then uh and then yeah i mean in terms of in terms of the necropolis and stuff that you guys
will be uh deploying like can you give more like specific details on exactly how people can like
get involved and uh what sort of stuff they can do yeah sure so the necropolis is just our fancy
term for our nft marketplace you know playing on the dead theme. But I mean, really, so the whole thesis
for our marketplace, because our whole thing runs on LST, so we believe we have a capital
efficient marketplace, right? So if you're buying or selling, listing or purchasing,
because we transact in LST, it's a capital efficient way to do it. And also a side benefit
is that it secures the network.
So inadvertently transacting in LSTs has a lot of fringe benefits to the network.
And so, I mean, how does somebody get involved?
I mean, I'm assuming the first minute will definitely be the refracted beast.
So we will start to get these contracts up and integrate our front end.
we will start to get these contracts up and integrate our front end.
And again, we're going to just try to time it around when Prism goes live so that we can come out strong together.
Right. Like that's the goal. Or maybe like one week Prism goes live and the next week.
Right. So maybe it's not over overload. Right. But all you got to do is come mint.
We'll integrate Prism chain. Right? I mean, I don't know.
It's just a, we have a very straightforward system,
very straightforward marketplace,
very straightforward mentor.
And we want to build a community.
So, you know, we'll get the discords going.
We'll get the Twitters going.
We'll get all these things going.
We'll get competitions going.
You know, it's so funny.
It's always like, I feel like right now,
I feel like it's like that part, the calm before the rip.
Like we've had so much down, down, down, down. It's like the worst. Everyone's like, oh, it can't get any worse.
It probably could get worse, but I really don't see it getting worse when I look at these macros.
And I just want to make sure that people don't get discouraged. Don't get shaken out.
Remember, we're here to do this together as a community. It's about, you know, don't, don't, don't get shaken out. Remember, we're here to do this together as a community. It's
about, you know, don't, if you're investing more, if you're investing so much, you're nervous,
scale it back. Because then it's not fun, right? Scale back a little bit. But we want to start
having fun again. I think that's like the most crucial thing about smart money is about having
fun together as a community and then learning what the next steps are but so how do you get involved i mean you're going to set the parameters for what the minting
um qualifications are right because aren't there some qualifications to participate yeah i think
well i think um i think what we do is uh people would people would pay for these refracted beasts
with uh the awu tokens that they got airdropped um so then uh that would be like
the parameter i guess and then um and then they you know they have different the artwork we got
done has different you know scarcities and traits and that kind of stuff so uh so it could be could
be good fun i mean in the end like we i as with all these things we'd love to do it with like a
decent amount of community involvement in what they think,
what they think it should look like and,
and how they think they should be distributed and prices and that kind of
stuff.
but in the end,
people are going to get an NFT for,
you know,
with,
with a token,
you know,
pay for an NFT with a token that they,
they got given for free.
Um, and those, yeah, they got given for free. Um,
and those, yeah, and we're good to go. We're good. Our mentor works with, uh,
it works, which I checked. So we're good to go on that front too. Perfect. And, um, yeah. So, I mean, and again, um, and then when the market secondary happens, we can have it in prism. And
then once we have the prism up and running, we can convert it over andism and then once we have the prism up and running we can convert it over and
and just get the show going and then you have you know your top secret uh call sign projects
and uh spoken to a few people who have interest in uh creating um collections for those communities
already yeah brilliant and then i think we just want to you know get more projects going where
people can kind of like pay for stuff with their future yields whether it's instant yield whether it's yield tokens um so that people don't
have to spend that their full amount of capital and just can effectively spend their future yields
but yeah i think like melina i know today we were going to do i mean basically by way of update for
everyone the um launch we're going to kill ourselves to try and make sure
launch happens uh next week ideally we're trying to start it on monday um so this is uh you gave
a time ollie you gave a date i don't know we've we've uh we've we've set a hard deadline internally in a team um so that is what we're
gonna absolutely floor ourselves to try and hit um i mean i i would i would i know we've had some
questions on it as well but i'd love to um make sure everyone has all the details on exactly how
it's going to work what tokens you know what
tokens are going to be tradable when you know how this is going to impact people's airdrops and that
that sort of stuff um so please do uh i'm going to give like a brief overview now jg molina obviously
feel free to put in if there's any questions or like clarifications or, uh, thoughts or suggestions you have on it.
but yeah.
And then for people listening,
like if you have any questions,
on what's been said,
then please either put them in the comments here or,
raise your hand and come up or feel free to,
you know,
pop them in telegram and tag me or the team
or discord and tag me and the team um we'll get to it but basically what the plan looks like is
uh monday um the mainnet uh bootstrapping is going to start that is going to start a seven-day window where people can log on to the mainnet web app check out the
tokenomics check out the uh the launch page exactly how it's going to work those who participated in
the testnet launch page will be kind of familiar with it but um the aim of that the launch page
once the bootstrapping starts is to give everyone the information they need.
And it also allows you to time to bridge over some USDC or deposit some USDC to Prism, which is a super straightforward process now, thanks to Circle CCTP.
So you can easily deposit USDC from a SACS or from a DEX in one or two steps.
And then also you're going to be able to set up your pulse trades during that bootstrapping
period.
So you'll be able to set your pulse trades up ready for when the actual gradual price
decline of the token happens until kind of supply meets demand so that
that that bootstrapping period is going to last seven days it'll have a countdown timer on it
people will be able to see you'll be able to see easily what pulse trades other people have set up
you'll be able to see like how much uscc has been bridged over um and any of the other kind of like metrics that you want to see we're going to aim to have.
And then after seven days, the liquidity bootstrapping pool starts, which gradually
which takes the price of Prism and gradually lowers it until buyers start stepping in
where they perceive fair value to be um normally with a liquidity
bootstrapping pool you know you you maybe buy one two three four times or something like that
um and you kind of get an average price that way by doing like four buys uh because you don't know
whether you've caught the bottom or um or whether you sort of were waiting for a bottom that never happened and actually you missed out um so with with pulse trade uh you have the
ability to dca here so you can kind of like set your maximum price um set how long you want to
gradually buy over and then you and then you get a smooth price at whatever the market price at that time is
on each of the different pulses that you do and so the trading period is going to last for seven days after that the pool is going to be closed the weight is going to be then corrected from
the finishing weight in the liquidity bootstrapping pool, which is 90% USDC, 10% PRISM.
The weight's going to be adjusted if the pool back to 80% PRISM, 20% USDC.
And once that process happens, no one will be trading during that process.
Once that process happens, which a matter a matter of hours
um then people will be able to use the prism that they bought to add liquidity to the prism usdc
pool uh which is as i said 80 prism 20 usdc um they'll also be able to use their prism tokens to
um mint prism usdc lp the prism base lp token which is prism versus the prism
um yield lp token and uh we're going to offer um
uh like a very high initial bootstrapping apr for that so that it's going to be like a fixed apr
for that so that it's going to be like a fixed apr probably of like 150 to 200 percent and it's and
we're going to assign like you know say for example one percent of the tokens to that uh on a first
come first serve basis uh so everyone's going to get 200 apr until the you know until that one
percent of tokens run out so the earlier people are the sort of more of that share of tokens they'll get.
But it means that people are getting a defined APR
and that those rewards are going to be paid out
to you every few hours.
So it's not like a Photons campaign
where you're getting points.
These will be actual rewards paid out to you
every few hours.
And then, you know, from there, the PRISM token will be live.
People will be able to, you know, we're going to try and get governance up and running.
And then people will be able to vote on all these important parameters about, you know, what rewards should be, what incentives should be, what should happen with the PRISM treasury.
If PRISM should be an inflationary coin or a deflationary coin.
All of these fun
things that you can do once prisms actually distribute it so that's kind of like a little
bit about how the uh launch is going to work if that makes uh sense for people And I mean, at which point, this will also be the point where people can fully come in
and speculate, exit, come in, out, right, and have full on trading, right, of future
belief in the project, right?
I mean, this is what really everybody's really, I guess,
waiting for is when will Prism be tradable fully?
And you're saying in seven days after the launch?
Am I still there?
Did I get cut off?
Shit.
I don't hear anybody.
I hear you.
Ollie, do you hear us? Yeah, I hear you. I hear you. Okay. I hear you. I hear you. Ollie, do you hear us?
Yeah, I hear you.
I hear you.
Okay.
I hear you.
I hear you.
So during the token launch, people will be able to buy and sell the Prism token.
They won't be able to add liquidity to the pool until after the token launch happens um
and so the token launch lasts for seven days uh or it'll be 14 days it's seven days of bootstrapping
where the weights aren't adjusted but people can go and set their pulse trade orders um before that
and they can check out the launch and deposit USDC and then seven days of the liquidity
bootstrapping pool where the weight in the pool gradually goes from 99% PRISM to 10% PRISM.
And so that process will last seven days. People can buy and sell the PRISM token
freely during that time. And that's the only trades that are possible there are buy PRISM with USDC,
sell PRISM for USDC. And then after that process, when people have bought as much PRISM as they want
to buy out of the liquidity pool uh after the seven days the
the pool weight gets adjusted to be a normal liquidity pool which means uh you know on prism
that means like 80 prism 20 usdc and then during that and then uh that's it people can provide
liquidity if they'd like they can also buy and sell prism um they'll then be able to
trade their you know usdc for c prism or c prism for usdc or their prism yield lp token for usdc
or whatever so um you know people that receive the airdrop uh before will then be able to trade their airdrop for prism tokens or for usdc uh after that and vice
and vice versa people will be able to buy prism yield lp um with their usdc if it's cheaper than
minting it for example um so that's kind of like uh how works. So yeah, so there should be,
because PRISM has a real yield associated with it as well as potentially a chain inflation,
if that's what governance wants,
there should be some very interesting yield trading
to do for people that have,
that have, you know,
hold the PRISM token
or any of the kind of like prism derivatives
and i should say that before that the aim is that we're going to turn on um what we're thinking is
rather than doing photons for the prism uh yield lp and uh stuff before we're going to actually
um do live rewards for those so So you should soon be able to stake
your Prism Yield LP tokens
and start earning rewards every few hours
to get paid into your wallet.
So it's two weeks.
It's two weeks for full Prism utility
is what I'm trying to lock down.
That's right.
Like people.
Exactly.
Exactly.
Okay.
Okay.
Okay.
Okay.
Okay.
Perfect.
Perfect.
Exactly. And then finally, I think like, you you know lots of people have said before obviously like you have your you have your
actual product which prism is and then you have your token is like your second product where
um so i think it'll be it'll be good now to have like the full uh the full suite out there and then
you know we've the token launch we're excited we're excited to get it out there and then, you know, we've, the token launch, we're excited, we're excited to get it out there.
And then, you know, we've got a ton of other things we're trying to ship out,
um, that we think will add lots of value, uh, to the ecosystem generally.
Um, so it'll be good to get the token launch done and then be able to kind of
like fully focus on, um, these kinds of new products and new features.
But yeah, I mean, other than that,
like I want to make sure that, I mean, the aim of this launch,
as with all the stuff we've done,
is to try and make this as fair and retail focused as possible so that's why we're not launching on all the decks is that's why we're not launching
on all the launch pads that's why we're not launching on centralized exchanges um you know
this is this this is a token launch where only people that have a Prism wallet are going to be able to participate.
The style of launch is anti-snipers and anti-bots so that retail don't, you know, so that all the supply doesn't just get scooped up instantly.
And, yeah, so the aim is to try and create and have buyers of a token that are users of Prism and then you know then we we go
from there and then we start you know widening the available places to buy Prism and you know
bringing in new Prism holders who weren't necessarily Prism users but if it feels it feels
best to us to launch your token launch our token on our chain so that it's Prism users that are the first people to get the opportunity to buy it.
I mean, I can't tell you enough how much that means to me being in space.
Like, you know, hearing hearing the founders say that that this is a core tenant to him, you know, watching the evolution of prism.
You know, I know that it's been it's it's been really hard to, you know, pick the right time to to launch your token.
And I definitely feel that the product suite is is ready.
And and I mean, you know, being a founder, you know, all these community members kind of start feeling like a family.
So like you want everybody who's like been here with you over the last three years to start winning with you. Right.
So that's the other part of it. I know that's a big, a big thing.
I feel like I am the.
I think we've learned a lot. I think we've learned so much doing Prism over the last three years in terms of I think we've learned a lot. I think we've learned so much from doing Prism over the last three years in terms of,
I think, I think in reality, I wish the points meta hadn't become a thing.
I wish, I think, I think people, people got into including us got so carried away or not
carried away, but like every, you know, every, every man and their dog, we're talking about like how great points campaigns are.
And actually, I think like it's it detracts from what crypto, you know, from crypto superpowers, which is, you know, early liquid access to, you know to early stage projects.
Like you're just having points campaigns,
then are we really any better than Web2?
And I think that's why I think with everything we do going forward,
the aim is not to try and launch the tokens with a big valuation.
The aim is to try and launch tokens to early users get those tokens liquid
early allow people the early users to buy in at ideally low valuations um so that you can get
that you know so that you can get things trending in the right direction and you're giving your
early users access you're not just um hyping up your product with points and then trying to
launch you know use that as a
method to launch on a centralized exchange and then give market makers loads of tokens to dump
onto um community members so i think like we've learned a lot i think that you know the product
we're really happy with uh the feedback we've got on the product and i think you know now it's just going to be
good to get the token out there um i think for the future products which which prism token holders
are going to get airdropped so um you know this the order book the money market um the options
protocol uh potentially one or two other bits as well like you know the aim is going to be get the
tokens out there early get the airdrops out to prism token holders um and get those get those things trading so that people
have you know the focus on the product but also um you know the ability to uh you know think
as token holders would um which i think you know gives really valuable insight to the team when
people do hold tokens and people are giving you feedback as a token holder about what they think would be value accretive for the project.
Gentian, how are you doing? Thanks for coming up to speak. Can you hear me okay?
Hi, Oli. Yes, i can hear you thanks uh well uh it's it's wonderful so all the
developments so every every action that led to this day is amazing so um
um so um well i had the just a question please so um you said that from maybe the next week we
can start with the lbp uh and i was wondering um the last time you said that the turn on for the photons would be before the prism launch so
i guess if let's say example um um let's say for example that monday the the seven days will start and when the
when the
when the photons will be turned
down for
Prism Yield LP and
Y tokens
so the
thanks very much for the question so I think
so on the plan is next week, ideally Monday, we start the bootstrapping phase, which is seven days where people can come and they can where the liquidity pool gets seeded.
deposit USDC. And then seven days after that, the weight change will start, which will start
slowly reducing the price of Prism until it starts getting hit by the, you know, to buyers step in
and the pulse trades start executing that people have set. So between now and when the prices start, the actual LBP, the weight changes start, we want to add rewards for the airdrop tokens that people received.
So what I mentioned earlier is I think what I think we're going to do is rather than create a separate pool of photons for those,
I think what we're just going to do is actually just be like, look, you know, no photons for those.
We're just actually going to give you Prism tokens instead.
So rather than saying, let's do a photons campaign where, you know, you know, 1% or 2% of the PRISM token supply is paid out according to how many photons you have at the end of a three month period.
I think what we're going to do is allow people to state their LP tokens.
And once they state their LP tokens, they're going to get a fixed APR of, say, for example, 100%.
And that APR is going to last until the tokens run out.
So it's going to be a fixed APR is what we're thinking at the moment.
So I'm interested in people's feedback and thoughts on that.
We thought that was better because then people are getting tokens
paid out to them every six hours or 12 hours
or however often the rewards get paid out.
But they'll actually get physical tokens in their wallet
every time period.
So that would be instead of photons.
And then the same thing will happen with the Prism USDC LP token
when people provide liquidity there.
And that will have a much higher APR. And then the PRISM base pool, again, will have a higher APR than the PRISM yield LP.
So those are the three pools that are going to be targeted for high rewards as kind of like early bootstrapping rewards for people.
Yeah, that's really amazing.
So just imagine like you have your Prism Yield LP
and you stake it, but you stake it,
you earn APR, of course course but even photons in the in the meantime
so it's a double win but it won't be it won't be photons it'll just be instead of photons it'll
just be actual just like real um c prism tokens so you're earn you're going to earn prism tokens every every six hours or 12 hours.
And these are tokens that will be claimable and paid to your wallet.
OK, but basically you'll you'll have. So if you there's a good question.
So if you had if you receive the airdrop or you've earned the airdrop either through state drop or you received the airdrop, or you've earned the airdrop either through stake drop
or you earned the airdrop through participating
either of the photons campaigns,
then you've received some PrismYield LP
plus some YPRISM tokens.
You're gonna have a choice now.
At the moment, most people hold those in their wallet.
You're going to have a choice, which is stake your Prism Yield LP token
and start earning rewards paid out every few hours.
Or hold some of your Prism Yield LP token and pair it with some Prism
that you end up buying in the LBP,
in which case you're going to get a much higher APR.
Or you can hold those tokens to trade them
and flow trade them, pulse trade them,
or trade them once the liquidity pool is set up after the token launch.
And that liquidity pool is very similar to how you have with like Atom, for example.
You have the Atom yield pool, the Atom base pool, and the Atom USDC pool.
You're going to hear you're going to have a Prism USDC pool, a Prism base pool, and a Prism yield pool.
The Prism yield pool people already have tokens for.
What's going to happen after the LBP is the PRISM base pool will be set up with a high APR,
and the PRISM USDC pool will be set up with a high APR. So people will have kind of choices
about what they want to do with their tokens.
what they want to do with their tokens yeah like that's amazing so yeah we'll see
we'll see yeah i mean people people should um yeah like let us know in the uh because i mean
i think lots of people on this call are already already effectively prison holders via um the
photons campaigns or stake drops so like
interested in what people think the apr the fixed apr we should be aiming for is because i think
we're going to say something like okay one percent or two percent so that's like 10 million or 20
million prism tokens are going to get paid out at a fixed apr of say say 150% or 200% to people that provide early liquidity on these pools.
And that APR is going to stay at 200% until that 10 or 20 million tokens are paid out.
So that's kind of what we're thinking. So rather than making it a variable APR where people need
to check whether the APR is going
up or down, we're just going to fix the APR and say, look, we'll just pay this.
And when the tokens run out, the tokens run out.
That way, early providers are rewarded.
And if new people come into the pool, it doesn't dilute everyone's yield.
It just means that the rewards end up getting eaten up faster.
Here we go.
All right, well, look, I-
Cool.
Yeah, if you've got any other questions, fire away.
Otherwise, thanks very much for coming up.
No, thanks. Thanks, Oli.
No, thanks.
Thanks, Oli.
No worries at all.
No worries at all.
Yeah, I think I realize there's lots.
I always find whenever we start talking about all the different acronyms
or P, Prisms, Y, Prisms, Prisms, DLRPs,
I hope people don't glaze over too much.
We've lost people, but I like uh when i look through everyone that's kind of listening stuff
i recognize a lot of the names i feel like most of them hopefully uh get it if not uh
feel free feel free to tell me but i think like an lbp essentially, it launches a liquidity bootstrapping pool.
LBPs, you know, lots of people are familiar with.
The unique thing about Prism's LBP is that you can DCA in it,
which removes a lot of the uncertainty and market timing risk
that happens normally with other LBPs.
And then once the tokens, you know,
buy or sell the token during the LBP.
And then after the LBP, all the liquidity pools
and all the functionality for Prism gets rolled out.
And, you know, we start to see what the community wants,
like what yields do they want?
Do they want it to be inflationary?
What do they want to happen with treasury? all of these kind of like fun things so i'm excited i i'm excited to
kind of like see that stuff melina did we did we have any other questions so i haven't um
that i haven't responded to yet I know we had some in the chats.
Can you guys hear me?
I hear you good.
I think she might have fell down from the chat.
Oh, yeah.
It's gone to the listener now. Oh, yeah. It's gone to listener now.
But yeah, all right, cool.
I think I can't see any more
of the questions in the comments.
So hopefully that's answered it.
I think, have you done
LPPs before, JG?
I have.
I did some on
Terra before Crash.
Yeah, I remember. I did some on Terra before Crash. Yeah, I remember.
There were some great launches on Terra.
There was.
There was some unbelievable stuff.
I remember I started off with...
I remember Anker launch being my first launch on terror.
And that was an absolute shit fest.
Because they,
I think they seeded the liquidity pool at like 30 cents or something like
that and told everyone exactly what time they were going to,
you know,
they were going to open up trading and see the liquidity pool.
And then the whole thing got like botted into oblivion.
Everyone's trying to click as fast as they could.
I think I ended up buying anchor at like seven and a half dollars when I
thought I was going to be buying it at 30 cents.
I remember that being,
but that was like one of my first experiences of,
of getting botted into oblivion on a,
on a chain launch.
And then you had some of the fixed price launches.
I remember that star terror platform set up some stuff where they started to
try and like gamify a little bit more,
which ended up,
ended up being a bit of a pain.
I think Astroport did the huge um
vamp attack on terror swap and then uh and then they did their um liquidity like liquidity lock
drop i think it was where they which was like an interesting launch mechanism but they did they did
really well and then i i did i Prism Forge on the first time,
which was like everyone gets to put in their tokens.
And then you could add or remove tokens.
Then for the final 12 hours, you could only remove,
which made the price cheaper for everybody,
which was based on what Mango mango markets had done on solana
but yeah i would like some people were really experimenting there's some really cool launches
because it feels like uh there hasn't been so much experimentation over the last um
over the last three years like stream swap which is kind of like a little bit like flow trade
um has been cool to see but there haven't been any like big projects or
uh l1s i don't think launch on that um yeah it feels like the experimentation on launches has
gone away a little bit in the in cosmos so we're excited to help people see how people receive this
and then we out on the eth you've obviously you've got a couple more you got what is it
kobe's echo dot xyz for to like kind of precede launch,
but I think they just launched another launch pad recently,
which is kind of like experimenting a little bit
with giving people the tools to try and do more compliant launches,
but in a permissionless way.
Yeah, I feel like some of the experimenting stopped,
so I hope that all comes back. I mean, I feel like some of the experimenting stopped. So I hope that all comes back.
I mean, I think it will. Again, in this market, this is not for the faint of heart. And when
prices and markets go back up, attention and interest will pour back in. And that's what
will happen. But that's why it's really important that that we weather the storm right because again these things are all ebbs and flows and we want to
make sure i want to make sure my community i'll make sure i'm i'm in the space when the flow
starts to happen again like that's that's really what the goal for me right and so you've built a
suite of products with your team um that will enable projects to actually do the activities that were in
experiments that we're talking about right so still laying the groundwork what what we're doing
today what you're doing today is is is crucial for that next level to come back again i hope so
yeah it's gonna be it's gonna be it's gonna be fun to see i'm. I think like it, you know, it's so many.
I think I lost you for a second, if you can hear me.
Sorry, can you hear me now? Am I back? i back yeah yeah you're back you're back um i think there's like 250 or thousand wallets that received tokens and
the all of these people who've received tokens have like actively done something to have to
get these tokens so it's not been like it's not been like come and boss a test net and then uh
do it like it's like either participate in stage or actually come and boss a test net and then uh do it like it's like either
participate in state drop or actually come and participate in prism and be a user and um and
earn photons so it's just it's it's like it feels like a progression for um for us as the team but
also like hopefully it feels the same for everyone else that you know this is the time where
you know we get to uh you know set prison free and uh and the market um the market gets to decide
and you know i think i think market timing is can be a bit of a fool's errand so i think it's just going to be great to get it out there and
see uh you know get the feedback from community members on what they think you know and then
they're going to start people are suddenly going to realize like how many different things the
prism token controls i mean you can kind of see it already if you go on uh if anyone goes on a
block explorer and you can kind of see how many different
governance proposals have had to happen for like basic things to happen on the chain.
Prism token holders control, like control the keys on all of that stuff.
So it's going to be fun seeing the decisions that people make on, you know, parameters
for all of these kind of like important decisions.
Let me add up DJ, oe tager joey table
there is
joey tall
how you doing guys um i guess it's kind of a noob question um i have been watching you guys kind of in the background
since you guys rolled out and i got i'm one of those guys that got the prison tokens um i guess
basically my question um is it sounds like a silly one but backbone labs actually got me
Backbone Labs actually got me really fired up for the token and everything.
So I really started fleshing out the project.
And I'm like everyone else here.
I took a hit.
I was very, very, very, very, very weary.
The token kind of sat there, and as I started looking into it, having the time, having to kind of shift industries and read your white paper, go to Prism Academy and everything like that, I'm seeing the use for it.
In fact, you said a few things that I just want some clarification on.
With things like Instant Yield, it is not encouraged, I'm guessing, like other projects like with maybe Initia, of trying to perpetually invest into the DEX.
I know that whenever you have instant yield
or you're playing around with those future yields,
you get a token that appreciates or depreciates with the market over time.
Is it not encouraged to stake that further perpetually into the decks?
I kind of looked at it as in I had been the person that was late to the market,
late to your project.
I kind of kicked my butt for it.
You guys rolled out at a good time, but also a bad time for me.
I took a major hit.
My wallet got hacked.
I lost 75% of my
portfolio. It was not good. But I've been trying to play catch up. I know there's other people,
it's not about bags. I'm seeing the worth of refraction. As someone like me who is now able
to be, hey, I'm going to play catch up, maybe reinvest
a little more the yields
and everything, the time yields
and whatever, what have you.
Should I just be
focusing on the other tokens
in the decks
using their liquidity
and kind of leave
I guess the
Prism token to just governance.
As in your question is, is your question specifically on the PRISM token?
Like, what would you do with the PRISM token?
Yeah.
I mean, I know what to do with the PRISM token.
I kind of thought that, like, this was mainnet, like you said,
but it was, like, testnet, mainnet. And so, I mean, because I,
I jump in there, I jump out. I mean, I don't think a lot of people even knew that with, um, like,
what is it? Uh, skip or a few of the other routers, they go through you. That's actually
what made me turn my head. I was like, Oh, prism, they're already active. So, but I think
within this last few weeks, I've really kind of been diverting and I've been getting a lot of
photons, you know? So, well, I'm, I'm guessing I'm saying that that's on me, you know, do my own
research, invest in my own risk. That's on me As someone that is coming in with a heavy bag like me, but wants to be as participating as the early users that got round, I guess, roll drop one, roll drop two.
Because I do have some, but not a lot i had to move i had to move
them over from another wallet i had to turn them into c c prism should i just leave it alone and
not try to just build up my photons for this next round is that yeah i think i think like um
i mean that's that's kind of like when i when i when i look at when i look at prism or what we try to do is like
have it where you can basically have um your more active strategies or your more passive strategies
so like the more passive strategies that people have been doing is just providing liquidity and
sitting there and click and sitting there and collecting a decent amount of photons or doing something like doing instant yield as a one-off
and then just that being it.
So it's kind of one thing and done.
And that's been successful and kind of like rewarding for people.
Like, you know, the guys at the very, very top of the leaderboard
have been doing that in decent size and haven't been actively trading.
And then, you know, what you have is, you know, a group, a decent group of people that have been kind of sharing ideas, sharing one token to another token, always trying to make sure that they're in a token that's earning themselves photons as well,
but also growing their bags pretty actively.
And so, you know, doing the arbitrage, you know,
participating heavily when a new maturity gets added or removed.
And so you can, you kind of, you can can let it happen i'm not laughing at you i'm laughing
at the fact that i normally do that and you know i've i have a good eye yeah and like i said just
your project it came at a bad time when i was really i almost left this industry completely
um but i'm still here and i'm i guess bested again i just it's funny just literally
because i was patting myself on the back that in a daily leaderboard i had gone all the way up
because i did that with um whenever uh they were doing a staking campaign just last week yeah uh
with both with uh bonyard labs but with you guys the main project
i built that guy up really quick and i'm like oh photons cool it's coming
no and i'm laughing at myself because it's it's it's a new mistake and i've been doing this for
two and a half years i just really didn't want to miss out on your project. So I need to stop what I'm doing because I have literally,
I went up to the 25th and I'm guessing that is all users.
And so I thank you for answering.
I'm just laughing because it's my own silliness.
I think,
I think it's,
I think it's like,
I think it's,
but it's definitely one of the, it's definitely one of the kind of like, I guess, when we as a team reflect on Prism,
like, you know, what we kind of done is like taking a TradFi concept and put it into DeFi.
concept and put it into DeFi. And I think lots of people in DeFi aren't used to having, you know,
TWAP tools, gradual auctions, like, you know, just generally yield tokenization or yield curves,
or even having to think about like, you know, what would I pay now for one atom in a year's time?
Or what would I, you know, what do I think the yield of one atom
is gonna be over the next year?
And am I gonna make a good return
if I buy the yield token now?
And where's my break even?
What do I need atom yield to be over the next year
if my yield token to break even for me?
And all of these kinds of things.
So there is like a really steep learning curve with prism um but then that yeah i think i threw like a few atoms in there right whenever the market
went down i was trying to pick up the refracted pieces
it's just on me and it's just i no no i think i think you're doing the
you're doing that you're doing absolutely the right thing because I think the best way to learn this stuff is
shove a bit in there, not a material amount, but just shove a little bit in to test and
go through the web app, click on the different bits, see what each bit's doing, be like,
yeah, I can split it here.
Okay, here's where I can merge it together. Okay. Here's where I can trade one or trade the other.
And like, okay, this is what's happening when I provide liquidity. Like it's actually doing
some refracting for me when I provide liquidity and all those kinds of things that, you know,
Oh no, I've been doing a hard work. I've actually sat in front of your uh your app your app dot zone for several hours
like i've i've been watching it but for some reason i don't know why i thought there was a
clock over my head like oh i've got to get as many photons as possible but now i just sound like a
no no no i don't i don't i don't think you do like i think you know the reality is on uh on um season two season three of photons
now which is like 50 million prism tokens so five percent of the prism token supply
there's going to be in a matter of uh in a matter of weeks there's going to be
a very like a very real value to what that 50 million prism tokens are going to be worth for
people and so people are you know i
think as we saw at the end of photon season two people are able to be like actually like i'm
earning you know for people that are spending their yields so doing super staking or instant
yield like i'm spending this amount of yield which effectively means i'm buying prism tokens at this
valuation and suddenly people are going to look at the relative value quite hard of being like okay am I better participating in photons and getting prism tokens at a certain price through
super staking or instant yield or actually is like it cheaper for me to buy them on the open
market during the token launch um so so so if if if your goal ends up being to accumulate the tokens like there'll be some interesting kind
of relative value ways to uh to look at it after hour one i kind of sat there and i noticed that
there was different valuation when it came in with the other because you went outside the ecosystem
you have um you have uh mbtc in there you know it know, it's a two step.
BTC will always cost something with every step here until the end of time.
So I actually had to come up with a strategy in my head to keep the valuation,
to get it to where I needed it to go for it to sit in a campaign.
But it made me think, I mean, I just think that my,
I was going to the wrong place on the map is what was happening oh i think i'm sure you you'll end up you'll end up refining
it i've seen um some of the uh some of the community members have like gone deep into the
excel spreadsheets um so and people have been sharing some of those. And then you've also got people that have published some of their, uh,
like analysis tools, like prison data zone and stuff.
So there's definitely, uh, you're in good hands.
Yeah.
Exactly.
No, you, you, you're in, you're in good hands and feel, feel free to like,
for any ideas or suggestions or thoughts or like anything, like feel free to jump into the special Discord channel we've got.
We're like some of the some of the like, I guess, like power users have got some really good thoughts and feedback.
And I'm happy to I'm happy to share some stuff as well, because, you know, I people testing it out and coming up with different strategies i guess in closing to your project i think maybe the onus is on me because
i have not seen any kind of project so far in defy in the three years that i've been in like this
so i think yes it was like maybe me experimenting and then maybe I just hit my marks too well. Like, oh my gosh, I'm getting photons left and right.
But it did keep me constantly engaged.
It did keep me, where was my inflow?
How was my outflow?
I'm over here using SwapFast or whatever it is, because IBC Eureka is is down and so i'm trying to find different inflows and
things change so it is work at least for me i can speak for myself i've never been a set it and
forget it kind of person um i always i'm here in the states so i stay up overnight because the real
action is what the rest of the world is doing and whenever the bell dings for us here
9 30 right here i'm on the eastern seaboard same time zone as new york um it's it's live you know
everything i i saw becomes real so i i see the valuation change and interest change so it does
your project works i've just been using it for the wrong
purpose i guess in summation so anyways i just want to see that thank you guys no i appreciate
it appreciate you coming up and uh glad to hear backbone uh jg inspired you um nice one well i
think i think we've done most i think we've done most of the questions.
I'm conscious of, uh, conscious of people's times just cause we've gone past the app,
but like, if there's anything we haven't answered or people have got any thoughts on,
um, the stuff that we discussed today, please like do ping us and, uh, and let us know.
But other than that, yeah, it's going to be a huge few weeks.
And so check it out, check out the, um Check out the Backbone campaign that's live as well.
And, you know, please do keep all the feedback and suggestions coming because it's been super helpful for the launch page.
And for everyone that's been following along with the testnet version, they've seen, you know, how all the feedback's been getting implemented.
And we really appreciate that.
I just wanted to say if you're one of the 89 people
listening with us for the last hour and 10 minutes,
if you could just take a minute and retweet this,
it's really important that as we roll into Monday
that we build up as much momentum as possible.
It only takes a second.
Hit retweet.
A little quote would be helpful.
I mean, this is exactly what we all need to do if we're going to make this happen together.
Thank you so much.
Appreciate it. Thank you.
