Prism
29 posts

Prism
@prism_lp
one v4 pool. five thousand facets. dstable : https://t.co/W487yETsoD spectrum : https://t.co/mH7bTd2elQ











Getting a few dms asking about the novelty of @prism_lp / DStable: TLDR this is a first of its kind stable where collateral is the liquidity, which solves the stable cold start problem whilst at the same time baking in passive yield just by holding the stable. The thing is a stablecoin like this only became buildable with @Uniswap V4 hooks. As this fuses the AMM pool and the mint/redeem contract into a single thing. Before V4 you could not do this as a pool was a rigid constant product curve, and issuance lived in a completely separate contract. V4 hooks changes this by letting a pool intercept a swap and run its own logic in place of the normal curve: take the input, do whatever you want with it, hand back a custom amount. Where Dstable takes this and runs with it is it uses that to route you straight into collateralized minting instead of trading against LP inventory. That basically means zero cold start which any new stable suffers from. It solves this because liquidity is the collateral, so it is deep at fair value from the start, so the single biggest killer of new stablecoins simply is not a problem here. It also means no mercenary LPs, no impermanent loss and no emissions. Normal protocols burn huge token incentives renting liquidity (the entire Curve wars economy exists for this). Dstable rents none, so there is no structural sell pressure from incentives. Free distribution. Because it presents as a V4 pool, every aggregator, router, and wallet that speaks Uniswap can route into it with zero integration work. You inherit Uniswap's distribution instead of building your own. Stronger peg. Mint and redeem both clear at fair value through the hook, so there is no separate secondary market to drift into a premium or discount. The price is the reserve value by construction, not by hoping arbitrageurs show up. Passive yield with no clicks. 70% of each harvest lifts the redemption value of the base token itself, so holders capture yield without staking, wrapping, or claiming anything. Better UX than sDAI-style wrappers. A flywheel that is mechanical, not narrative. More float means more Aave yield, which means more PRISM bought and burned. $prism value is tied directly to how big and how active the stablecoin gets.

first harvest 🌾 etherscan.io/tx/0xdd3614a16…


