News Release. On June 27, 2024, decentralized lending and investment platform DeltaPrime announced its Token Generation Event (TGE) on Uniswap and Trader Joe with great excitement. The TGE marks the launch of $PRIME and $sPRIME tokens on July 1, 2024, representing another innovation in the cryptocurrency space. Born in a bear market, DeltaPrime operates on the Arbitrum and Avalanche networks, with its innovative token economic design focused on stable growth of its liquidity pools, enhanced community rewards, and governance capabilities.
DeltaPrime, with a community-centric and transparent approach, has developed a new protocol that provides secure measures for trustless, undercollateralized lending for crypto assets used for trading, yield farming, and other whitelisted protocols.
The protocol’s Q1 revenue exceeded $1.5 million, with the ColonyLab community seed round significantly oversubscribed by 58%, indicating investor confidence in DeltaPrime’s vision and execution. Furthermore, a large grant of 750,000 ARB from LTIPP, equivalent to grants received by prominent platforms like Lido and Aave, highlights DeltaPrime’s emerging position and reliability in the DeFi space.
Different from Aave, DeltaPrime is driving the DeFi industry from the overcollateralization of the past towards overcollateralized crypto loans in the future.
By launching $PRIME and $sPRIME, DeltaPrime retains its sustainable business model while rewarding and steadily transitioning governance to its biggest 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 by providing enhanced trading and LP capabilities through the utilization of idle capital and a robust governance structure, empowering users.
$PRIME represents the community.
The unique feature of $PRIME is the creation of $sPRIME through liquidity pairs such as PRIME-AVAX or PRIME-ETH, deeply integrated into DeltaPrime’s operations and governance mechanisms. The DeltaPrime application simplifies contributions to LP, making the acquisition of sPRIME in USD a breeze.
$sPRIME signifies a significant innovation in DeFi governance and revenue sharing. The LP token is a utility token within the DeltaPrime ecosystem and a governance tool, enabling holders to actively participate in decision-making processes, supporting platform growth. Holders of sPRIME enjoy the dual benefits of influencing the platform’s direction and contributing to its financial success, with Q1 2024 financial success significantly increasing to $1.65 million.
33% of the total protocol revenue 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 based on current market conditions to ensure economic stability and sustainable growth. This adaptive supply strategy helps stabilize the value of $PRIME during market volatility and establishes mechanisms to increase supply during high demand and initiate buybacks during 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 centralized LP token used as the primary currency on the platform, next to governing capabilities. By maintaining fundamental liquidity centered around the current price, the token increases in value to support platform growth, becoming “active.”
DeltaPrime Leads Community-Driven Governance
At the core of DeltaPrime’s approach is a governance model dedicated to transparency and direct user decision-making. 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 gain governance points at a 10:1 ratio with sPRIME based on 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 protecting user assets and maintaining platform security: borrowed funds can only be used for whitelisted 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 from market manipulation and exploits, with the insurance fund providing coverage for any affected depositors in unlikely scenarios of multiple on-chain checks being overlooked. DeltaPrime remains committed to providing a secure and reliable platform for all current and future users.
About DeltaPrime
DeltaPrime is your primary broker, with a mission to unleash the full potential of DeFi. They achieve this by offering secure undercollateralized loans, with a focus on maximizing capital efficiency. Their Prime Account holders are established on Avalanche and Arbitrum, knowing that their most important investments can gain fast and reliable transactions.
DeltaPrime’s custodial smart contracts are built on their unique Diamond Beacon Proxy model, with infinite scalability, enabling the platform to maintain the fastest integrated turnover in the DeFi space.
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