Atom Accelerator DAO (AADAO) Grant Announcement Card - in Blank
Team: Olly (Prism)
Amount Asked: $390,000
Status: Rejected

ATOM yield trading by Prism

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Prism Protocol is a layer-1 blockchain that allows you to trade your future yield for any yield-bearing asset (YBA) such as ATOM. You can split your ATOM into a principal token (PT) and a yield token (YT), and swap them on Prism’s capital efficient AMM. You can also provide liquidity to earn fees and rewards, or use your tokens for other purposes on the Cosmos ecosystem. Prism Protocol is built using the Cosmos SDK and Tendermint consensus, and leverages the Inter Blockchain Communication (IBC) protocol. Prism Protocol is the first blockchain dedicated to the harvesting, trading and utilisation of yield, and aims to bring the fixed income market to DeFi.

Team: Olly (Prism)
Current Status: Rejected
Funding Program: Regular Grants
Funding Category: ATOM Zone build-out

Amount Requested: Amount in their initial application, or for RFPs, their first quote or that of the nearest competitor $390,000

Date Applied: May 10, 2023
Date Rejected: Generally includes time spent doing interviews, rescoping or amending the application, and due diligence Jun 19, 2023 (5 weeks)

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