News Release: On June 27, 2024, the decentralized lending and investment platform DeltaPrime announced their Token Generation Event (TGE) on Uniswap and Trader Joe, marking the launch of $PRIME and $sPRIME tokens on July 1, 2024. Born in a bear market, DeltaPrime operates on the Arbitrum and Avalanche networks, with innovative token economics focused on stable growth of its liquidity pools, enhanced community rewards, and governance capabilities.
DeltaPrime, with its community-driven approach and transparency, has developed a new protocol that provides secure measures for uncollateralized borrowing of cryptographic assets used for trading, yield farming, and other whitelist protocols.
The protocol’s first-quarter revenue exceeded $1.5 million, with the community seed round of ColonyLab significantly oversubscribed by 58%, indicating investor confidence in DeltaPrime’s vision and execution. Additionally, a substantial grant of 750,000 ARB from LTIPP, equal in size to grants received by prominent platforms such as Lido and Aave, highlights DeltaPrime’s emerging position and reliability in the DeFi space.
Different from Aave, DeltaPrime is driving the DeFi industry towards overcollateralized crypto loans from the overcollateralized past. By launching $PRIME and $sPRIME, DeltaPrime retains its sustainable business model while rewarding and gradually transitioning governance to its largest supporters—the community.
DeFi Revolution: Advanced trading and governance
$PRIME and $sPRIME set new standards for participation and profitability in the decentralized finance (DeFi) space through the utilization of idle capital and robust governance structures to provide enhanced trading and LP capabilities, empowering users.
$PRIME, the primary tradable token in the DeltaPrime ecosystem, is a part of the platform’s liquidity framework. As a general ERC20 token, $PRIME can be traded on the open market, used in liquidity pools on decentralized exchanges (DEXs), and transferred between entities, facilitating seamless market interactions.
$PRIME represents the community.
What sets $PRIME apart is its creation of $sPRIME through liquidity pairs like PRIME-AVAX or PRIME-ETH, deeply integrating it into DeltaPrime’s operations and governance mechanisms. DeltaPrime’s application simplifies contributions to LP, making the acquisition of sPRIME in USD an effortless process.
$sPRIME represents a significant innovation in DeFi governance and revenue sharing. The LP token is a utility token in the DeltaPrime ecosystem and a governance tool, enabling holders to actively participate in decision-making processes, supporting platform growth. In the first quarter of 2024, financial success significantly increased to $1.65 million.
Of the protocol’s total revenue, 33% flows to active $sPRIME holders, 33% to the treasury for further development, and 33% to the protocol’s insurance fund.
$PRIME emissions are dynamically calibrated to current market conditions to ensure economic stability and sustainable growth. This adaptive supply strategy helps stabilize the value of $PRIME during market fluctuations and establishes mechanisms to increase supply during periods of high demand, and initiate buybacks during periods of reduced demand. However, PRIME is not a stablecoin and is thus susceptible to price fluctuations based on supply and demand dynamics.
$sPRIME is the first concentrated LP token used as the primary currency of the platform, second only to generating governance capabilities. By maintaining fundamental liquidity centered around the current price, the token increases its value to support platform growth, becoming “active.”
DeltaPrime Leads Community-Driven Governance
At the core of DeltaPrime’s approach is a governance model committed to transparency and directly empowering users with decision-making authority. $sPRIME holders contributing to platform growth not only receive 33% of protocol revenue but also have voting rights to determine platform policies and direction. As borrowers or lenders on the platform, users earn governance points in a 10:1 ratio with $sPRIME based on their protocol usage. This democratic process ensures that every decision reflects the collective will of the platform’s users, forming a truly decentralized governance structure composed of active DeltaPrime users.
Prioritizing Security
DeltaPrime prioritizes the security of user funds. This commitment to security, coupled with strategic expansion, solidifies its reliable and enduring position in the DeFi space. To mitigate inherent risks, DeltaPrime has established a comprehensive set of security features aimed at safeguarding user assets and maintaining platform security: borrowed funds can only be used with whitelist protocols and tokens, users cannot run away without repaying loans, and bankruptcy protection is provided through supervised loan health liquidation bots.
Prepared for the seventh successful audit, DeltaPrime is protected against market manipulation and exploitation, with the insurance fund providing coverage for any affected depositors in the unlikely event of multiple chain checks being overlooked. DeltaPrime remains committed to providing a secure and reliable platform for all users today and in the future.
About DeltaPrime
DeltaPrime is your primary broker, with a mission to unleash the full potential of DeFi. They achieve this by providing secure uncollateralized loans, with a focus on maximizing capital efficiency. Their Prime Account holders are built on Avalanche and Arbitrum, knowing that their most important investments can be traded quickly and reliably.
DeltaPrime’s custodial smart contracts are built on their innovative Diamond Beacon Proxy model, with infinite scalability, allowing the platform to maintain the fastest integration turnover in the DeFi space.
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