Yesterday I discovered a new platform called PRISM, I watched a few videos and to my understanding it is an asset portfolio based on Ethereum where you invest a set amount and define how much exposure you want to each coin, I can see how easily this has an appeal to people who are not into crypto or find it too difficult to get into, the interface looks slick.
Description on site https://blog.prism.exchange/blog/introducing-prism-the-worlds-first-trustless-asset-portfolio-platform/
"Prism is a platform upon which humans and machines can acquire exposure to portfolios of digital assets without trusting a counterparty. These portfolios (called “Prisms”) are customizable in size, allocation, and duration. One acquires a Prism using nothing but an Ethereum wallet as the tool, and Ether as the collateral.
An example: Sarah is bullish on privacy-centric digital assets and wants to easily and safely invest $5,000 in them.
She designs a Prism consisting of 1/3 Dash, 1/3 Monero, and 1/3 Zcash, putting up $5,000 of Ether as collateral.
Upon creation, a unique smart contract tracks the value of her three assets, and holding her collateral. It also holds an equivalent amount of collateral from another party who took the opposite position (this other party is ShapeShift, for now).
Three weeks later, the price of the three components have risen an average of 25%. Sarah chooses to close her Prism, and she receives 125% of the collateral she deposited (less fees).
By setting up the Prism, Sarah didn’t need to find a trustworthy/convenient wallet for each coin. Other than Ethereum, she didn’t need to sync anything, or manage disparate keys. The entire process from first idea to instantiated contract takes Sarah five minutes. Most importantly, Prism allowed Sarah to avoid leaving funds at an exchange – her collateral was held in a smart contract, which may only be withdrawn to her pre-stated Ethereum account.
The Prism portfolios are fully-collateralized by both parties, so there is no risk of non-performance. Risk is herein minimized: with trust placed in objective open-source code, instead of upon the subjective whims of a human counter-party.
Some day, we imagine, nearly all financial infrastructure will be built upon open, objective, non-discretionary code. The ability of a human to decide not to fulfill a transactional obligation (either by mistake or malice), will seem quaint. Inevitably, an economy is more efficient, honest, productive and fair to the extent it is built upon the laws of code and mathematics, instead of the laws of men. Pre-blockchain, that was impossible. Upon products like Prism (itself built upon the pioneering work of blockchain protocol engineers), it is our hope that some day it won’t merely be possible, but indeed the expectation, that finance itself becomes provably fair; not by the decree of politicians, but by the demanded security and supplied innovation of a marketplace set free. Society deserves nothing less.
While Prism is, in a sense, an exchange platform, to our knowledge nothing like it has ever existed in a live, production capacity. No bank or traditional financial institution, with their billions in capital and polished claims of consumer protection, has ever brought something like this to market.
That we, a small startup, can build such a thing and release it to the world is a testament to the power of open blockchain technology."
CONCLUSION
Although as I believe this to be a good idea, the fees are a little high plus they don't have most of the coins I hold.
Also you get charged for rebalancing the portfolio, say if by any chance one of the coins is on a long downfall and you want to change the exposure to it, you will get charged 0.50%. Plus if you decide to close your portfolio another charge. I guess it is understandable that they need to make money but I can just use my Exodus wallet which I keep it safe and have the same coins and no charge for holding them.
