PRISM
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Governance
A user can stake PRISM into the xPRISM pool and receive xPRISM tokens in return. The xPRISM tokens they receive represent their ownership share of the total PRISM tokens in the xPRISM pool. Fees the protocol levies are used to buy PRISM tokens on the decentralised exchange and those PRISM tokens are distributed into the xPRISM pool. As a result the exchange rate between xPRISM:PRISM increases in the same manner as aUST:UST. With time, holders can burn their xPRISM and redeem a greater number of PRISM tokens in return, enabling depositors to collect rewards simply by holding xPRISM.
xPRISM Exchange Rate = (PRISM In Pool) / (xPRISM Supply)
When rewards are claimed (minimum once per day) and converted to PRISM on the AMM, the purchased PRISM is placed into the xPRISM pool which means the value of xPRISM increases relative to PRISM because the exchange rate is increasing according to the above formula. This is because xPRISM is a claim on the total amount of PRISM in the xPRISM pool and as more PRISM tokens are added into the pool from fees, the more PRISM tokens the xPRISM holder has the right to claim.
xPRISM received = (PRISM in) / (Total PRISM in pool + PRISM added) x (xPRISM supply)
If a user no longer wishes to receive rewards or participate in governance they can start the 21 day burn of their xPRISM to receive physical delivery of their share of PRISM in the xPRISM pool. The amount of PRISM received is calculated by the following formula:
PRISM out = (xPRISM burned)/(xPRISM total) ×Total PRISM in pool
Or alternatively the user could choose to swap their xPRISM for PRISM on the PRISM Swap decentralised exchange.
xPRISM has a 21 day unstaking period

Contract Address

You can query and execute messages against the limit order contract address below by visiting https://station.terra.money/contract
Contract
Address
xPRISM Token
terra1042wzrwg2uk6jqxjm34ysqquyr9esdgm5qyswz
Governance
terra1h4al753uvwmhxwhn2dlvm9gfk0jkf52xqasmq2
AMPS Pledging
terra1pa4amk66q8punljptzmmftf6ylq3ezyzx6kl9m

Execute Messages

mint_xprism
claim_redeemed_xprism
bond
unbond
The mint_xprism execute message bonds PRISM for xPRISM at the current exchange rate.
Execute the following message against the PRISM token contract.

Sample Execute Message

{
"send": {
"msg": "eyJtaW50X3hwcmlzbSI6e319",
"amount": "1000000",
"contract": "terra1h4al753uvwmhxwhn2dlvm9gfk0jkf52xqasmq2"
}
}
The claim_redeem_xprism execute message withdraws xPRISM that has been unstaked for 21 days.
Execute the following message against the Governance contract.

Sample Execute Message

{
"claim_redeemed_xprism": {}
}
The bond execute message pledges xPRISM for AMPS.
Execute the following message against the xPRISM token contract.

Sample Execute Message

{
"send": {
"msg": "eyJib25kIjp7fX0=",
"amount": "1000000",
"contract": "terra1pa4amk66q8punljptzmmftf6ylq3ezyzx6kl9m"
}
}
The unbond execute message unbonds xPRISM for AMPS.
Execute the following message against the AMPS Pledging token contract.

Sample Execute Message

{
"unbond": {
"amount": "1000000"
}
}
Last modified 4mo ago
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