### What is Prisma Governance Token?

The Prisma Governance Token (PRISMA) is the governance token of the Prisma protocol, a decentralized platform that facilitates borrowing and the minting of a stablecoin, mkUSD, which is fully collateralized by liquid staking tokens (LSTs). This token plays a central role in enabling governance within the protocol and incentivizes users to engage in specific activities that support the ecosystem.

### How does Prisma Governance Token work?

PRISMA operates on the Ethereum blockchain using the ERC-20 standard. It employs a veToken model for governance, where users can lock their PRISMA tokens for up to 52 weeks to gain lock weight. This lock weight is instrumental in voting on protocol proposals and participating in governance decisions. The token distribution follows a specific emission schedule, which is calculated as a percentage of the remaining unallocated supply.

### What are the potential use cases for Prisma Governance Token?

The potential use cases for PRISMA include:

- **Governance**: Used to vote on proposals and protocol changes within the Prisma protocol.
- **Incentives**: Encourages users to engage in actions such as depositing into Stability Pools, minting mkUSD/ULTRA, maintaining an active debt with mkUSD/ULTRA, and staking Curve LP tokens.
- **Decentralized Considerations**: As part of the DeFi ecosystem, PRISMA helps facilitate decentralized borrowing and stablecoin maintenance, with a focus on liquidity provision.

### What is the history of Prisma Governance Token?

The PRISMA token was officially introduced on November 2, 2023, with the aim of ensuring community ownership and facilitating decentralized decision-making within the protocol. A notable event in its history includes a security breach on March 28, 2024, resulting in the loss of approximately $11.6 million in cryptocurrencies. Despite this setback, PRISMA has maintained its presence in the market, demonstrating resilience, particularly in the realm of decentralized finance.

Prisma Governance Token

Deposits are not currently available for this coin.

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