1/🔒 🌈PRISMA Locking and Lock Weight
Curious about how Prisma governance and token locking work?
Let's dive into it!
A 🧵:
Curious about how Prisma governance and token locking work?
Let's dive into it!
A 🧵:
2/⏳ How Locking Works:
• Lock PRISMA for a specific number of weeks (max 52w)
• Weeks represent the time before you can withdraw tokens
• You can have multiple locks of different durations
• Extend or merge locks
• Freeze your lock weight (52w) to avoid need to relock
• Lock PRISMA for a specific number of weeks (max 52w)
• Weeks represent the time before you can withdraw tokens
• You can have multiple locks of different durations
• Extend or merge locks
• Freeze your lock weight (52w) to avoid need to relock
3/🗳️Lock Weight & Voting:
• Your lock weight = sum(weeks * balance for each lock)
• More weeks and higher balances mean greater lock weight
• Register your lock weight into voting weight to vote on proposal
• Your lock weight = sum(weeks * balance for each lock)
• More weeks and higher balances mean greater lock weight
• Register your lock weight into voting weight to vote on proposal
4/🚀Lock Weight & Boosting:
• Boost is based on your locked PRISMA weight
• Users with "max boost" earn PRISMA rewards at 2x the rate
• Max boost decays from 2x to 1x as weekly claims exceed max boost
• Boost is recalculated weekly at the start of the week
• Boost is based on your locked PRISMA weight
• Users with "max boost" earn PRISMA rewards at 2x the rate
• Max boost decays from 2x to 1x as weekly claims exceed max boost
• Boost is recalculated weekly at the start of the week
5/🤝 Boost Delegation:
• You can make your boost available to others through "boost delegation"
• Set a fee for the delegate when they use your boost
• You will receive part of the PRISMA claimed using your rented boost
• You can make your boost available to others through "boost delegation"
• Set a fee for the delegate when they use your boost
• You will receive part of the PRISMA claimed using your rented boost
6/💸 Early Withdrawals:
• Exit a locked position early with a withdrawal fee
• Fee starts at 100% and decays linearly based on weeks left
• Penalty withdrawals start with the soonest expiring lock
• Penalty fees go to the Prisma platform
• Exit a locked position early with a withdrawal fee
• Fee starts at 100% and decays linearly based on weeks left
• Penalty withdrawals start with the soonest expiring lock
• Penalty fees go to the Prisma platform
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