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DeltaPrime unveils $PRIME | token HackerNoon
June 26, 2024— DeltaPrime, a decentralized lending and investing platform, is excited to announce its Token Generation Event (TGE) on Uniswap and Trader Joe’s. TGE marks another innovation in the cryptocurrency industry with the launch of the $PRIME and $sPRIME tokens on July 1, 2024. Born in the bear market and operating on the Arbitrum and Avalanche networks, DeltaPrime’s inventive tokenomic design focuses on stable growth of its liquidity pools, as well as increased community rewards and governance capabilities.
Community-minded and transparent, DeltaPrime has developed a new protocol with exceptional security measures for collateral-free and trust-free cryptocurrency lending, to be used for trading, yield farming and liquidity provision over other authorized protocols.
The protocol’s revenue in Q1 of this year exceeded $1.5 million, and ColonyLab’s community Seed round was significantly oversubscribed by 58%, demonstrating strong investor confidence in DeltaPrime’s vision and execution. Additionally, a significant LTIPP grant of 750,000 ARB, the same size as those received by established platforms such as Lido and Aave, highlights DeltaPrime’s emerging stature and reliability in the DeFi space. But unlike Aave, DeltaPrime is moving the DeFi sector from its overcollateralized past to the future of undercollateralized crypto lending.
By launching $PRIME and $sPRIME, DeltaPrime preserves its sustainable business model by consistently rewarding and transferring governance to its biggest supporter, its community.
Revolutionizing DeFi: Advanced Trading and Governance
$PRIME and $sPRIME empower users by providing enhanced trading and LP functionality using idle capital and strong governance structures, setting new standards for participation and profitability in the decentralized finance (DeFi) landscape.
$PRIME, the main tradable token of the DeltaPrime ecosystem, is an integral part of the platform’s liquidity framework. As a versatile ERC20 token, $PRIME can be traded on open markets, used in liquidity pools on decentralized exchanges (DEXs), and transferred between entities, facilitating seamless market interactions.
Unique to $PRIME is its role in creating $sPRIME through liquidity pairings, such as PRIME-AVAX or PRIME-ETH, embedding it deeply into DeltaPrime’s operational and governance mechanisms. Contributing to the LP is streamlined via the DeltaPrime app, making acquiring $sPRIME a breeze.
$sPRIME marks a significant innovation in the field of DeFi governance and revenue sharing. This LP token serves as a utility token within the DeltaPrime ecosystem and also as a governance vehicle, allowing holders to actively participate in decision-making processes. $sPRIME holders who support the growth of the platform enjoy the dual benefit of influencing the direction of the platform and contributing to and sharing in its financial success, which notably amassed $1.65 million in the first quarter of 2024.
Of the protocol’s total revenue, 33% goes to active $sPRIME holders, 33% to the treasury for further development, and 33% to the protocol’s insurance funds.
$PRIME issuances are dynamically calibrated based on current market conditions to ensure economic stability and sustainable growth. This adaptive supply strategy helps stabilize the value of $PRIME during market fluctuations, with mechanisms in place to increase supply during high demand and initiate buybacks when demand declines. $PRIME however is not a stablecoin and is therefore susceptible to price changes based on its supply and demand.
$sPRIME stands out as the first concentrated LP token used as a platform’s primary currency, as well as generating governance power. The token becomes “active” by keeping the underlying liquidity centered around the current price, increasing its value relative to those who support the platform’s growth.
At the heart of DeltaPrime’s approach is a commitment to transparency and a governance model that places decision-making directly in the hands of its users. $sPRIME holders who contribute to the platform’s growth not only receive a staggering 33% of the protocol’s revenue, but also gain voting rights that shape the policies and direction of the platform.
A user receives governance points by maintaining a 10:1 ratio between $sPRIME and using the protocol, both as a borrower and a lender on the platform. This democratic process ensures that every decision reflects the collective will of those using the platform, fostering a truly decentralized governance structure made up of active DeltaPrime users.
Prioritize safety
DeltaPrime prioritizes the safety of user funds above all else. This commitment to security, combined with DeltaPrime’s strategic expansion, has solidified its position as a trusted and enduring presence in the DeFi landscape.
To mitigate the inherent risks, DeltaPrime has created a comprehensive suite of security features designed to protect user assets and maintain the safety of the platform: borrowed funds can only be used on authorized protocols and tokens, users cannot escape without repaying the loan, and there is default protection through settlement robots that oversee the health of the loans.
DeltaPrime is preparing for its seventh successful audit against market manipulation and exploits, and in the unlikely event that multiple on-chain checks fail to spot a problem, an insurance fund covers all affected depositors. DeltaPrime remains fully committed to providing a secure and reliable platform for all users today and into the future.
About DeltaPrime
DeltaPrime is your premier broker on a mission to unlock the full potential of DeFi. They do this by providing safe, undercollateralized loans, with a focus on maximum capital efficiency. Being built on the foundations of Avalanche and Arbitrum, Prime account holders know they are getting fast and reliable transactions for their most important investments.
Powered by its innovative Diamond Beacon Proxy model, DeltaPrime’s escrow smart contracts are infinitely scalable and enable the platform to support the fastest turnaround of integrations in the DeFi space.
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