One thing I learned today:
I cam across a defi platform today that provides liquidity to people who have private shares locked up in a private company. In a nutshell, Prism found a problem in how people with equity in private companies were highly restricted to accessing the liquidity in value of those shares.
As working for a startup can be extremely enticing due to the opportunity to impact an industry it also comes with the opportunity for common stock. But as employees continued to be employed at these large private firms they saw that they were only able to “cash out” at certain events. Prism liquidity is aiming to solve this problem for people around the world by providing loans on a persons equity as collateral.
Example:
Susie wants a 50k cash loan and has equity in company ABC. Luckily, Susie worked at this company during their early stages and they’ve seen incredible growth. She now has enough value in stock to put down a down payment on a house, however this equity is not liquid.
Prism will supply her with a loan of 50k of cash to buy her house while she provides her shares as collateral until she can repay prism back. It’s an interesting product that Prism is offering and I find it interesting to see how founders are utilizing blockchain technology and smart contract to provide liquidity to people around the world.
Affirmations:
I will run the NYC marathon under 4:00:00 and exceed my fundraising goal:
I will grow my blog by 10% monthly using web3 marketing tools
Gratitude:
Grateful for new opportunities!
Miracle Morning:
Read: no
Meditate: yes
Workout: yes
Make my bed: yes
Gratitude: yes
Affirmations: yes