DeFi
DeltaPrime Unveils $PRIME Token: Pioneering a New Standard in DeFi Governance and Utility
DeltaPrime, a decentralized borrowing and investing platform, is excited to announce its Token Generation Event (TGE) on Uniswap and Trader Joe.
Road Town, British Virgin Islands – June 27, 2024 —
DeltaPrime, a decentralized lending and investing platform, is excited to announce its Token Generation Event (TGE) on Uniswap and Trader Joe. The TGE marks another innovation in the cryptocurrency space 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 tokenomics design focuses on stable growth of its liquidity pools, as well as enhanced community rewards and governance capabilities.
Community-driven and transparent, DeltaPrime has developed a new protocol with exceptional security measures for trustless and undercollateralized borrowing of crypto assets for trading, yield farming, and liquidity provision on other whitelisted protocols.
The protocol’s revenue in Q1 of this year exceeded $1.5 million, and ColonyLab’s community funding round was 58% oversubscribed, demonstrating strong investor confidence in DeltaPrime’s vision and execution. Additionally, a significant LTIPP grant of ARB 750,000, on par with those received by established platforms like Lido and Aave, underscores DeltaPrime’s emerging stature and reliability in the DeFi space. But unlike Aave, DeltaPrime is propelling the DeFi industry from the over-collateralized past to the under-collateralized crypto lending future.
By launching $PRIME and $sPRIME, DeltaPrime is preserving its sustainable business model while rewarding and gradually 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 capabilities using idle capital and robust governance structures, setting new standards for participation and profitability in the decentralized finance (DeFi) landscape.
$PRIME, the main tradable token in 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 transparent market interactions.
$PRIME means community.
What makes $PRIME unique is its role in creating $sPRIME through liquidity pairings, such as PRIME-AVAX or PRIME-ETH, by deeply integrating it into DeltaPrime’s operational and governance mechanisms. Contributing to the LP is simplified through the DeltaPrime app, making it easy to acquire $sPRIME.
$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 has notably raised $1.65 million in the first quarter of 2024.
Of the total protocol revenue, 33% goes to active $sPRIME holders, 33% to the treasury for further development, and 33% to the protocol insurance funds.
$PRIME emissions 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 when demand is high and initiate buybacks when demand declines. $PRIME is not a stablecoin, however, and is therefore susceptible to price fluctuations based on supply and demand.
$sPRIME stands out as the first concentrated LP token used as a platform’s primary currency, in addition to generating governance power. The token becomes “active” by keeping the underlying liquidity centered around the current price, increasing its value relative to that which supports the platform’s growth.
DeltaPrime stands out for its community-focused governance
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 growth of the platform not only receive 33% of the protocol’s revenue, they also gain voting rights that shape the platform’s policies and direction. A user receives governance points by holding a 10:1 ratio of $sPRIME to protocol usage, either as a borrower or 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 comprised of active DeltaPrime users.
Safety first
DeltaPrime prioritizes the security of user funds above all else. This commitment to security, coupled with DeltaPrime’s strategic expansion, has solidified its position as a trusted and enduring presence in the DeFi landscape. To mitigate inherent risks, DeltaPrime has implemented a comprehensive suite of security features designed to protect user assets and maintain the security of the platform: borrowed funds can only be used on whitelisted protocols and tokens, users cannot run away without repaying the loan, and there is insolvency protection through liquidation bots that monitor the health of loans.
DeltaPrime is preparing for its 7th successful audit, protecting its platform from market manipulation and exploits. In the unlikely event that multiple on-chain audits miss an issue, an insurance fund will cover all affected depositors. DeltaPrime remains fully committed to providing a secure and reliable platform for all users, now and in the future.
About DeltaPrime
DeltaPrime is your prime broker whose mission is to unlock the full potential of DeFi. They do this by providing under-collateralized secured loans, with a focus on maximum capital efficiency. Built on the foundations of Avalanche and Arbitrum, Prime account holders know they benefit from fast, reliable transactions for their largest investments.
Built on its inventive Diamond Beacon Proxy model, DeltaPrime’s escrow smart contracts are infinitely scalable and enable the platform to maintain the fastest turnaround time for integrations in the DeFi space.
Learn more:
Contact information:
Name: Daniel Abdel Malak
E-mail: Send an email
Organization: Delta Prime
Website: https://deltaprime.io
Disclaimer:
This press release is for informational purposes only. Verification of information has been carried out to the best of our abilities. However, due to the speculative nature of the blockchain industry (cryptocurrency, NFT, mining, etc.) as a whole, complete accuracy cannot always be guaranteed.
You are advised to conduct your own research and exercise caution. Investments in these areas are inherently risky and should be approached with due diligence.
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