# \[FIP - 227\] FRAX \<\> Prisma Finance pre-launch raise participation

**URL:** <https://gov.frax.finance/t/fip-227-frax-prisma-finance-pre-launch-raise-participation/2327>\
**Category:** Token Swap / Seed funding\
**Created:** [May 5, 2023, 5:24pm UTC](https://gov.frax.finance/t/fip-227-frax-prisma-finance-pre-launch-raise-participation/2327 "2023-05-05T17:24:02Z")\
**Posts on this page:** 3\
**Page:** 1

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**Author:** ![Acid0x](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.frax.finance/acid0x/32/1256_2.png) [@Acid0x](https://gov.frax.finance/u/Acid0x)\
**Post date:** [May 5, 2023, 5:24pm UTC](https://gov.frax.finance/t/fip-227-frax-prisma-finance-pre-launch-raise-participation/2327/1 "2023-05-05T17:24:02Z")

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Summary

Prisma is a brand new innovative Liquid Staking Derivative protocol. It will onboard a variety of liquid staked Ethereum derivatives (from Frax, Lido, Rocket Pool, Binance, and Coinbase) as collateral to mint a stablecoin which will be incentivized with CRV/CVX and our own governance token PRISMA. The loans will be self-repaying using the yield generated by the staked Ethereum and the protocol will become omnichain with LayerZero.

Token type: PRISMA will use the ve-Token model and will control several aspects of the protocol:

- The stability pool
- Pool parameters for new collaterals
- Protocol fees

Users can vote on which collateral will receive the most PRISMA emissions and vePRISMA holders receive protocol fees in the form of prUSD.

Allocation: 100.000 USD/FRAX for 1.000.000 PRISMA

Vesting period: Allocations will be vested over 12 months linearly.

Valuation: Prisma is raising 3,000,000$ for a 10% stake in the protocol. (30$M valuation)

Notable investors and commitments: Michael Egorov (Founder @ Curve), C2tp (Founder @ Convex), and Tetranode.

## Vote

- For: Commits to investing 100.000 USD/FRAX to Prisma Finance and in return receive 1.000.000 PRISMA.
- Against: Do nothing.

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**Author:** ![nader.frax](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.frax.finance/nader.frax/32/1849_2.png) [@nader.frax](https://gov.frax.finance/u/nader.frax)\
**Post date:** [May 12, 2023, 4:04pm UTC](https://gov.frax.finance/t/fip-227-frax-prisma-finance-pre-launch-raise-participation/2327/2 "2023-05-12T16:04:01Z")

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This proposal is up for voting here: [Snapshot](https://snapshot.org/#/frax.eth/proposal/0x792e399c30b6217f7f0157d7653a432c730cdaac573b872dbf74de55990a00cd)

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**Author:** ![0xpibblez](https://avatars.discourse-cdn.com/v4/letter/0/df788c/32.png) [@0xpibblez](https://gov.frax.finance/u/0xpibblez)\
**Post date:** [May 12, 2023, 7:13pm UTC](https://gov.frax.finance/t/fip-227-frax-prisma-finance-pre-launch-raise-participation/2327/3 "2023-05-12T19:13:53Z")

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absolute no brainer

good project, send it