DeltaPrime Reveals the $PRIME Token: Introducing a Novel Standard in DeFi Governance and Utility
On June 27, 2024, DeltaPrime, a decentralized platform for borrowing and investing, is excited to announce its Token Generation Event (TGE) on Uniswap and Trader Joe. This event heralds a new phase in the world of cryptocurrency with the introduction of the $PRIME and $sPRIME tokens on July 1st, 2024. Emerging during a period of market downturn and operating on the Arbitrum and Avalanche networks, DeltaPrime’s innovative tokenomics design is geared towards ensuring the stable growth of its liquidity pools, augmenting community rewards, and enhancing governance capabilities.
Embracing a community-centric and transparent approach, DeltaPrime has devised a groundbreaking protocol featuring robust security measures to enable trustless, undercollateralized borrowing of digital assets for purposes such as trading, yield farming, and providing liquidity on authorized protocols.
In the first quarter of this year, the protocol’s revenue exceeded $1.5 million, and the community Seed round of ColonyLab saw a remarkable oversubscription of 58%, underscoring investor confidence in DeltaPrime’s vision and operational acumen. Additionally, the substantial LTIPP grant of 750,000 ARB, equivalent to grants received by established platforms like Lido and Aave, underscores DeltaPrime’s growing reputation and dependability within the DeFi realm. Unlike Aave, DeltaPrime steers the DeFi industry away from the overcollateralized past towards a future dominated by undercollateralized crypto loans.
Through the launch of $PRIME and $sPRIME tokens, DeltaPrime upholds its sustainable business model while simultaneously rewarding and gradually transferring governance to its most ardent advocate—the community.
Revolutionizing DeFi: Advancing Trading and Governance
$PRIME and $sPRIME empower users by offering enhanced trading and liquidity provider (LP) capabilities, utilizing idle capital and establishing robust governance structures to set new benchmarks for engagement and profitability in the decentralized finance (DeFi) landscape.
At the core of the DeltaPrime ecosystem, $PRIME serves as the primary tradable token essential for the platform’s liquidity framework. As an adaptable ERC20 token, $PRIME can be traded on open markets, utilized in liquidity pools on decentralized exchanges (DEXs), and exchanged between entities, facilitating seamless interactions within the market.
$sPRIME represents a significant innovation in DeFi governance and revenue sharing. Serving as an LP-token within the DeltaPrime ecosystem and doubling as a governance token, $sPRIME allows holders to actively engage in decision-making processes. Supporters of DeltaPrime’s growth, who hold $sPRIME, enjoy the dual benefits of influencing the platform’s direction and partaking in its financial success, which amassed $1.65 million in Q1 of 2024.
Of the total protocol revenue, 33% is distributed to active $sPRIME holders, 33% is allocated to the treasury for further development, and 33% is directed to the protocol’s insurance funds.
$PRIME emissions are dynamically adjusted based on prevailing market conditions to ensure economic stability and sustainable growth. This flexible supply strategy aids in stabilizing the value of $PRIME during market fluctuations, with mechanisms in place to increase supply during high demand and trigger buybacks during periods of decreased demand. While $PRIME is not a stablecoin, its value remains susceptible to fluctuations based on supply and demand dynamics.
$sPRIME stands out as the first concentrated LP-token to be used as the primary currency of a platform, while concurrently possessing governance powers. By anchoring the underlying liquidity around the current price, the token becomes ‘active,’ increasing its value for those supporting the platform’s expansion.
DeltaPrime Leading with Community-Driven Governance
Central to DeltaPrime’s ethos is a dedication to transparency and a governance model that vests decision-making authority directly in the hands of its users. Holders of $sPRIME, who contribute to the platform’s growth, do not merely benefit from 33% of the protocol’s revenue; they also acquire voting rights that shape the platform’s policies and trajectory. Users receive governance points by maintaining a 10:1 ratio of $sPRIME to protocol usage, either as borrowers or lenders on the platform. This democratic structure ensures that every decision mirrors the collective will of the platform’s users, creating a genuinely decentralized governance framework comprising active DeltaPrime participants.
Prioritizing Security
DeltaPrime places utmost priority on safeguarding user funds. This commitment to security, coupled with strategic expansion initiatives, has cemented DeltaPrime’s stature as a trustworthy and enduring presence in the DeFi landscape. To mitigate inherent risks, DeltaPrime has instituted a comprehensive suite of safety measures designed to shield user assets and uphold the platform’s security: borrowed funds can only be utilized on approved protocols and tokens, users are precluded from evading loan repayments, and liquidation bots oversee loan health to provide insolvency protection.
Prepared for its 7th successful audit, DeltaPrime safeguards against market manipulation and exploits. In the rare instance that multiple on-chain checks fail to detect an issue, an insurance fund is in place to indemnify affected depositors. DeltaPrime remains unwavering in its commitment to offering a secure and dependable platform for all users, both today and in the future.
About DeltaPrime
DeltaPrime functions as your premier broker on a mission to unleash the full potential of DeFi. By providing secure undercollateralized loans with a focus on maximizing capital efficiency, DeltaPrime offers Prime Account holders swift and reliable transactions for their most critical investments. Founded on the innovative Diamond Beacon Proxy pattern, DeltaPrime’s escrow smart contracts are infinitely scalable, enabling the platform to facilitate rapid integrations within the DeFi domain.
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