DeltaPrime, a decentralized borrowing and investing platform, has announced the launch of its $PRIME and $sPRIME tokens, scheduled for July 1, 2024, on Uniswap and Trader Joe. Operating on the Arbitrum and Avalanche networks, DeltaPrime aims to bring innovation to the crypto space with its new tokenomics design focused on stable liquidity pool growth and enhanced community rewards and governance.
DeltaPrime's protocol allows for trustless, undercollateralized borrowing of crypto assets, which can be used for trading, yield farming, and liquidity provision on other whitelisted protocols. The platform's Q1 revenue exceeded $1.5 million, and a recent community Seed round was 58% oversubscribed, indicating strong investor confidence. Additionally, DeltaPrime received a significant LTIPP grant of 750,000 ARB, matching grants awarded to well-established platforms like Lido and Aave, highlighting its emerging stature in the DeFi space.
The introduction of $PRIME and $sPRIME tokens is designed to maintain DeltaPrime's sustainable business model while transitioning governance responsibilities to its community. $PRIME, the primary tradable token, is integral to the platform's liquidity framework and can be traded on open markets, used in liquidity pools on decentralized exchanges, and transferred between entities.
Unique to $PRIME is its role in creating $sPRIME through liquidity pairings, embedding it deeply within DeltaPrime's operational and governance mechanisms. Acquiring $sPRIME is simplified through the DeltaPrime app, making it accessible for users. $sPRIME serves as a utility token within the DeltaPrime ecosystem and a vehicle for governance, enabling holders to participate in decision-making processes. This dual role allows $sPRIME holders to influence the platform's direction and share in its financial success, which totaled $1.65 million in Q1 of 2024.
Revenue distribution within the protocol allocates 33% to active $sPRIME holders, 33% to the treasury for further development, and 33% to the protocol's insurance funds. $PRIME emissions are dynamically calibrated based on market conditions to ensure economic stability and sustainable growth. This adaptive supply strategy helps stabilize $PRIME's value during market fluctuations.
DeltaPrime's governance model prioritizes transparency and places decision-making in the hands of its users. $sPRIME holders receive voting rights that shape the platform's policies and direction. A user earns governance points by maintaining a 10:1 ratio of $sPRIME to protocol usage, either as a borrower or lender. This democratic process ensures that platform decisions reflect the collective will of active users.
Security is a top priority for DeltaPrime. The platform has established comprehensive safety features to protect user assets, including whitelisting protocols and tokens for borrowed funds, insolvency protection through liquidation bots, and an insurance fund to cover any affected depositors. DeltaPrime is gearing up for its seventh successful audit, reinforcing its commitment to providing a secure and reliable platform.
The launch of $PRIME and $sPRIME represents a significant step forward in the DeFi landscape, offering advanced trading and governance capabilities. DeltaPrime continues to lead with community-driven governance, ensuring that its platform evolves in line with the needs and preferences of its users.
