Prism Network is a blockchain-based platform that offers users funding initiatives and multi-network scalability under one platform. The platform also offers the users and projects freedom to choose their desired networks and ecosystem through cross-chain tools. Cross-chain refers to a technology that develops the interconnection between blockchain networks through properly exchanging information and value. Prism Network aims to aid the DeFi startups in creating custom-made smart contracts and ecosystem maintenance advisories.
The official website of Prism Network states that the platform specializes in liquidity provision and yield farming. Yield farming is a strategy for investment in DeFi, which involves staking or lending cryptocurrencies for getting rewards as interest or transaction fees. Prism Network develops custom-made and audited staking contracts for all developers without any charge.
As claimed by its whitepaper, the flagship service of the platform is Prism Launchpad. The Prism Launchpad aims to provide adequate fundraising opportunities for projects. In addition, the service also seeks to offer investors a secure investment platform for innovative and new projects.
There are three tokens.) of the Prism Network: Prism (PRISM), Deflect (DEFLCT), and mDEF (mDEF). PRISM is the utility token of the Prism Network, which is supported by Uniswap ETH liquidity pool tokens. The whitepaper claims that all the products available on the Prism Network can be accessed through the PRISM token, thereby making the token a valuable asset in the Prism ecosystem.
DEFLCT is the store-of-value token of the Prism Network. Store-of-value token refers to the cryptocurrencies that avoid depreciation for a long time. mDEF is a token similar to DEFLCT and is available on the Polygon blockchain.
