GM, this is your Daily Bolt briefing.
Still eager for more edge in LSTs? In this edition, we’re keeping you up to date on Prisma Finance, a LST-collateral stablecoin integrating LayerZero infrastructure as well as Frax and Curve incentivization efforts.
We’ll also be feeding you info on Clip Finance, a multi-chain and multi-strategy yield vault project launching soon.
Also; don’t miss our 2nd episode of What’s On Our Mind, featuring Souvlaki and Nick Drakon. In these weekly episodes, they give their interesting takes and industry insights on the latest trends and narratives in crypto today.
Stay alert in the markets ⬇️
1/ Edge Podcast - Introduction to Prisma Finance
Preview: DeFi Dad, Nomatic, and Anon from Prisma Finance introduce Prisma and discuss its features, fees, and PRISMA token. Click here to listen to the full episode (41 mins).
Read our Note (5 mins) and save 36 mins.
Here are some key takeaways:
Prisma's co-founder emphasizes that different stablecoins have different models, fee structures, collaterals, and risk frameworks, targeting different users. The idea behind introducing another stablecoin is not because something is wrong with the existing ones, but rather to cater to specific user needs and preferences.
Prisma's co-founder says that, unlike other liquidity-based protocols, Prisma does not charge recurring fees based on collateral, but instead implements fees on the debt side. Prisma sees itself as complementary rather than competitive to other stablecoins like crvUSD. Users can open positions by depositing collateral and receive acUSD in return.
Prisma's co-founder gives an example that crvUSD will support a broader range of collaterals compared to Prisma. Prisma will be more focused on LST-backed assets, while crvUSD will have multiple backing assets.
He adds that the team behind Prisma consists of seven core contributors who previously worked on blue-chip DeFi projects.
He says that Prisma will support wsETH, cbETH, frxETH, wbETH, and rETH as collateral.
Prisma's co-founder says that Prisma will be LayerZero enabled. He also says that Frax is a partner project that will be co-incentivizing with Prisma. Prisma might also have a partnership with Curve and Convex.
Prisma will be incentivized on Curve and Convex Finance, allowing users to earn trading fees, CRV, CVX, and PRISMA tokens on top of their ETH staking rewards.
He says that the native token of Prisma, called PRISMA, functions as the fuel for the entire protocol. It is used for directing emissions and changing economic parameters through governance. Similar to Curve and other protocols, Prisma's PRISMA token plays a crucial role in governing and incentivizing participation.
Prisma's co-founder says that the PRISMA token will launch alongside the protocol without any public sale or special gated launchers. He adds that the launch follows a "DeFi Classic" approach where tokens become available for farming once the protocol goes live.
1/ Clip Finance Community Call Twitter Space
Preview: Mikk hosts Patrick and Alec to discuss Clip Beta, rewards, widgets, partnerships, and more! Click here to listen to the full episode (36 mins).
Read our Note (3 mins) and save 33 mins.
Here are some key takeaways:
Clip Finance is a DeFi protocol offering cross-chain yield solutions with a prioritized user experience and gamification.
Mikk shares that they plan to launch Clip Finance’s revamped NFT landing page in the coming days. They've collected feedback and are now improving the landing page and working on the protocol based on that feedback. They're also focused on improving user experience, adding more features, and implementing five strategies.
Alex mentions the addition of two new strategies - Dina Finance and BSCswap on Binance Smart Chain. They are considering offering options based on users' risk profiles in the future.
Mikk says that they're optimizing yields further and that they aren't taking Clip rewards into account in their APR, which makes the actual return considerably higher. He shares their plans to reward early users generously.
Alex mentions their plans to expand to other chains and deploy on Arbitrum as it is trending in DeFi right now. They're considering adding Ethereum and Polygon chains as well.
Mikk asks Alex for updates on their product. Alex says they've made it clearer for users to understand where their funds are allocated and the percentages allocated to different strategies within the widget.
Mikk asks about a timeline for the public beta. Alex suggests will start once users can see their rewards instantly after making a deposit. This is their first priority, along with adding bridging widgets.
Alex brings up their partnership with Chainlink's build program, confirming an announcement to be made at the beginning of August 2023.
Alex explains they have a public-private beta going on and mentions their Yield Wars concept, which is a gamified system where NFT holders compete for Clip protocol fees. They have 3,333 NFTs divided into 10 legions, and anyone who owns an NFT will receive a CLIP token airdrop. They also receive staking rewards. To acquire an NFT, people need to join their recruitment channel on Clip Finance's Telegram.
If you read these 2 Notes on Revelo Intel you would have saved: 1 hour and 9 minutes!