Prisma Finance Hits $300 Million TVL

Quick Take

• PRISMA token goes live.
• Aragon Association dissolves.
• EthereumJS release updates.
• 5 years since Uniswap V1.

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Prisma Finance Hits $300 Million TVL

Prisma Finance, an LST-backed stablecoin protocol, reached over $300 million in TVL within just a day of its PRISMA token launch. A significant portion, amounting to $110 million worth of wstETH, was deposited by Justin Sun. The protocol offers PRISMA token rewards to users who mint its mkUSD stablecoin using LST collateral. Users opting to lock their PRISMA tokens for half a year gain access to boosted yields and lock weight for voting on where to direct emissions. PRISMA tokens can also be staked on Convex Finance. The PRISMA token is trading for $4.90 at the time of recording. Prisma also increased its deposit limits, which have all been reached with the exception of rETH.

Aragon Association Dissolves

The Aragon Project is dissolving the Aragon Association, an entity that manages the project's $200 million treasury. As part of the dissolution, a portion of the treasury will be distributed to holders of Aragon's native ANT token. ANT holders have a one-year window to exchange their tokens for a set rate of 0.0025376 ETH each. The redemption is currently equivalent to around $4.55 per token. The ANT token will no longer hold any functional purpose moving forward. The project had scrapped plans to establish the Aragon DAO. Instead, Aragon intends to allocate the remaining treasury funds toward a new entity to continue working on product development.

New EthereumJS Releases

The Ethereum Foundation JavaScript Team released a series of updated library versions. The updates include support for the Holesky testnet, support for the latest Dencun developments, a new EVM profiler, enhanced EVM performance, and client improvements. The ethereumjs/tx library has also been refactored to support transaction types in a backward-compatible way. A new BLOBBASEFEE opcode is also included in the release, which allows the EVM to return the blob base fee of the current block it's executing.

Uniswap Turns 5

Today marks the 5th anniversary of the deployment of Uniswap V1. On November 2, 2018, Uniswap deployed as one of the first AMMs on Ethereum. The initial development of the DEX was funded through a grant from the Ethereum Foundation. Uniswap V1 is still live today with just over $8 million in TVL. There have since been three iterations of the protocol, with a fourth planned for deployment next year.

Other News

• Coinbase Q3 report
• OpenSea Pro deploys on Polygon
• Kraken supports zkSync Era deposits
• MetaMask integrates Blockaid alerts
• 1 millionth validator index assigned
• 1 million txs on Momoka
• Dune introduces DuneAI and support for Zora

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