DeFi
DeltaPrime Unveils $PRIME Token: Pioneering a New Standard in DeFi Governance and Utility
Road Town, British Virgin Islands, June 26, 2024 (GLOBE NEWSWIRE) — Delta PrimeDeltaPrime, a decentralized borrowing and investing platform, is excited to announce its Token Generation Event (TGE) on Uniswap and Trader Joe. The TGE marks another innovation in crypto 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 running $PRIME and $sPRIME, Delta Prime preserves its sustainable economic model while rewarding and gradually evolving governance towards its greatest support, its community.
Revolutionizing DeFi: Advanced Trading and Governance
$PRIME and $sPRIME enable users to benefit from enhanced trading and LP capabilities utilizing idle capital and robust governance structures, setting new standards for participation and profitability in the decentralized finance (DeFi) landscape.
$PRIME, the primary 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.
$PRIME means community
The uniqueness of $PRIME is its role in creating $sPRIME via liquidity pairings, such as PRIME-AVAX or PRIME-ETH, by deeply integrating it into DeltaPrime’s operational and governance mechanisms. Contribution to the LP is simplified via the DeltaPrime App, making it easy to acquire $sPRIME.
$sPRIME marks a significant innovation in 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 platform’s growth enjoy the dual benefit of influencing the platform’s direction and contributing to its financial success, which notably raised $1.65 million in Q1 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 issuance is 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. However, $PRIME is not a stablecoin and is therefore susceptible to price fluctuations based on its 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 for those who support the platform’s growth.
DeltaPrime stands out for its community-oriented 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, whether 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
Delta Prime is your prime broker on a mission to unlock the full potential of DeFi. They do this by offering under-collateralized secured loans with a focus on maximum capital efficiency. Built on the foundations of Avalanche and Arbitrum, their Prime account holders know they’re getting fast, reliable transactions for their most important 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.
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Disclaimer: The information provided in this press release is not a solicitation for investment and does not constitute investment advice, financial advice or trading advice. You are strongly advised to conduct your own due diligence, including consulting a professional financial advisor, before investing or trading in cryptocurrencies and securities.
