Stake DAO

Summary:

The purpose of this proposal is to enable sdCRV holders to discuss and choose the method to be used when claiming the PRISMA token airdrop.

Context:

The Prisma protocol recently launched and announced the arrival of their governance token: PRISMA. It follows the veTokenomics model with its own parameters and mechanics. For more information, please visit the following links:

• Prisma documentation: https://docs.prismafinance.com/
• Prisma Mirror articles: https://mirror.xyz/prismafinance.eth

As Stake DAO has decided to vote in favor of the following Curve Governance Proposal: https://gov.curve.fi/t/whitelist-the-prisma-dao-curveproxy-contract/9494

The purpose of this post is to allow sdCRV holders to discuss and choose which method will be used to claim the airdrop.

Rationale:

There are several options available:

• Prisma has announced that eligible addresses will be able to fully claim their tokens only after a 52-week lock period. The first option is therefore to wait until the end of these 52 weeks.
• Eligible addresses can also decide to accept a time-based penalty on the claimable amount, by deciding to claim before the end of these 52 weeks. The penalty decreases by 1/52 each week. The earlier a user claims, the fewer tokens they will receive.
• Finally, Convex has announced the cvxPRISMA token, the liquid derivative of vePRISMA (https://twitter.com/ConvexFinance/status/1691459191297474560). Eligible addresses will be able to choose to claim cvxPRISMA at a 1:1 ratio. However, the liquidity factor must be taken into account, as it may lead to a temporary depeg and therefore a decrease in airdrop value.

Means:

• Human resources: Minimal developer time needed
• Treasury resources: No treasury resources needed

Timeline and Roadmap:

As of now, Prisma hasn’t given any ETA for the airdrop, but it is supposedly happening in the short-term future.

Voting options:

1. Wait for the 52-week lock and claim native PRISMA at a 1:1 ratio
2. Claim the airdrop as cvxPRISMA
3. Other (discuss other options on the Forum)

Proposal specifications:

• Admin(s): sdCRV holders
• Community feedback: 2 days min
• Voting duration: 5 days