Any lunatics out there?
I found Prism protocol while searching for a good spot with good APR to stake my LUNA tokens. Prism works like this: first you have to refract your LUNA to pLUNA and yLUNA which means pLUNA being the principal component and yLUNA being the yield bearing component. These two assets you can then swap to protocol's native token PRISM, put them in the pool or stake them. Later on you can of course merge them back to LUNA.
Staking
There are two staking options: yLUNA staking gives APR of 9.14% and PRISM farm with base APR of 22.14% at the time of writing this. As greedy as I am, I was of course more interested to the latter one. Really interesting and quite unique thing about PRISM Farm is so called amping. This means that you can boost your base APR with AMPs which you get by staking PRISM.
PRISM Farm seemed a bit complex to me at first so if you are still reading this, I'll try explain how it goes step by step:
You are now earning AMPS which you activate to boost your APR. As a reward you get PRISM tokens which vest over 30 days. Those you can pledge again, stake or collect.
My experience
I am really liking the concept and Prism has become my favorite Terra Luna project out there!
Positive things:
Other notes:
Lastly, you might wanna ask what I did with that pLUNA fraction?
First I put it in the pool with PRISM but wasn't really feeling the APR so I swapped it to PRISM to get more AMPS.
Ok, thanks for reading!
This was actually my first post here on LeoFinance but I'm going to write more about my favorite protocols and defi strategies in the future so follow if you are interested!
