The next generation of stables is omnipresent - Prisma Finance

Transfer mkUSD across chains frictionlessly with Stargate

We’re excited to announce that mkUSD is listed on Stargate Finance, allowing users to fluidly and swiftly move assets across chains, powered by LayerZero. mkUSD stands as one of the pioneering omnistables, making full use of LayerZero's Omnichain Fungible Token (OFT) standard. Prisma Finance was born with the integration of LayerZero in mind, enabling us to transcend existing boundaries and redefine the possibilities for not only the Prisma protocol but also our very own stablecoin, mkUSD. LayerZero's OFT standard provides us with the essential infrastructure to push the boundaries of what's achievable and set new standards.

As of today, users can easily transfer their mkUSD across multiple chains with unparalleled ease.

Prisma Finance OFT Bridge | LayerZero

https://bridge.prismafinance.com/oft

Say goodbye to slippage, extended wait times, and excessive fees. This marks a monumental stride into the future of decentralized finance, where the constraints of the past have been rendered obsolete.The LayerZero protocol, at its core, offers a decentralized, cross-chain messaging solution that paves the way for seamless interoperability between different blockchain networks. It encompasses Ethereum, Arbitrum, Optimism, Base, BNB Chain, and all other future chains that Prisma is set to support. With Stargate and LayerZero, the future of DeFi is here, offering unprecedented freedom and flexibility in asset management.

What is an Omnichain Fungible Token (OFT)?

The Omnichain Fungible Token (OFT) represents a groundbreaking token standard designed to address several challenges related to bridging assets between different blockchain networks. Unlike conventional bridging methods that depend on wrapped assets, the OFT standard offers the capability to mint and burn any fungible token across a range of LayerZero-supported chains. This means that tokens like ERC-20s and native gas tokens, which embrace the OFT standard, can be seamlessly transferred in a single transaction on the source chain for the user.

About Prisma

Prisma is a new DeFi primitive focused on realizing the full potential of Ethereum liquid staking tokens (LSTs). Prisma enables users to mint a stablecoin, mkUSD, that is fully collateralized by liquid staking tokens. The stablecoin will be incentivized on Curve and Convex Finance to create a capital-efficient flywheel where users can receive trading fees, CRV, CVX, and PRISMA on top of their Ethereum staking rewards. The Prisma codebase is completely immutable, based on Liquity, creating a robust protocol and truly decentralized stablecoin with favorable and flexible collateral parameters. These features make it attractive for those wanting to get the best out of their LSTs without tail risks from other stablecoins. The Prisma DAO will be in charge of parameters, emissions, and protocol fees.