Prisma Finance (PRISMA): tokenomics, risks and score
A protocol issuing a stablecoin against liquid staking tokens, which was exploited in 2024 and subsequently wound down.
What Prisma Finance is, and what it does
This asset has failed. It is recorded here so that a search returns what actually happened rather than promotional material that is still online.
What the PRISMA token itself does: It receives a share of the fees the protocol collects, so holding it is a claim on real revenue.
Where it runs: Ethereum. Mechanism: Liquid staking backed stablecoin. It has been running since 2023, so roughly 3 years.
The facts
- TICKER
- PRISMA
- SECTOR
- Failed and defunct
- CHAIN
- Ethereum
- LAUNCHED
- 2023, so around 3 years of operating history
- MECHANISM
- Liquid staking backed stablecoin
- MAXIMUM SUPPLY
- 300 million
- VALUE CAPTURE
- Fee share
- UPGRADE CONTROL
- DAO governed
- VESTING
- Complete
- LIQUIDITY BAND
- Micro cap. Thin, often a single venue or pool. Treat the quoted price as indicative only.
How the score breaks down
Each dimension is explained on the directory page, and the reasoning behind it is taught in the Academy research process.
Supply and value capture
A hard maximum supply that cannot be raised without the agreement of essentially every participant. A share of protocol fees reaches holders directly, which is the strongest form of value capture available.
Changes go through token holder governance, so control is distributed but influenced by whoever holds most. Ownership is heavily concentrated. A small number of wallets hold enough to determine the price on their own.
Where it is strong and where it is not
- A portion of exploited funds was returned after negotiation with the attacker
- Exploited for roughly eleven million dollars through a migration contract flaw
- Deposits never recovered after the incident
- The protocol has wound down
- Illustrates how rarely a protocol recovers from a significant exploit
Incident history
A flaw in a migration contract was exploited for roughly eleven million dollars. A portion was returned after negotiation, but deposits never recovered and the protocol wound down.
Our read
The main risk
Exploited in 2024 and subsequently wound down. Treat any position as residual.
Before you buy anything
Check the contract address against the project's own documentation rather than a search result or a screener link, since impersonation tokens with identical names and logos are listed constantly. Check the order book depth before assuming you can exit at the quoted price. And write down what would make you wrong before you buy, not after. The Academy thesis module covers why that single habit protects more capital than any indicator.