Unleashing the Power of Photons: Your Gateway to Rewards with Pryzm
Unleashing the Power of Photons: Your Gateway to Rewards with Pryzm
In yield farming, staying ahead and compounding returns can significantly boost your wealth. Pryzm aims to provide tools to seize these opportunities. We’re thrilled to introduce Photons, designed to reward yield enthusiasts, liquidity providers, and referrers.
TL;DR:
- Earn up to 13% of Pryzm’s genesis supply (130 million PRYZM).
- Gain Photons by providing liquidity or staking yield tokens.
- Tokens currently delegated or locked elsewhere in DeFi? No problem! Pledge to bring them to Pryzm and still earn Photons.
- Eligible tokens: TIA, ATOM, INJ, OSMO, LUNA, and DYDX.
- Campaign duration: 3 months.
- Get started here -> app.pryzm.zone/points/pryzm
Pryzm’s Community-First Approach
Pryzm is committed to building a community-centric Layer 1 blockchain dedicated to yield infrastructure. Unlike traditional projects, Pryzm has raised no private capital, ensuring that opportunities are available to the community, not just VCs.
As an appchain, we believe in putting tokens into the hands of our supporters, backers, and users. That’s why we reward StakeDroppers and Photon earners.
StakeDrop Success
Our StakeDrop campaign has seen 560,000 wallets delegate to Pryzm’s validators, supporting our development. Their support has been invaluable and unlike VCs who wait for long vesting periods, StakeDroppers will get instant access to their tokens upon the Pryzm token launch and they continue to earn weekly. Alternatively, they can Pledge (see below) their assets to Pryzm to achieve higher yields and accumulate more Photons compared to standard delegating.
Introducing Photons
Continuing our mission of community empowerment, we’re excited to launch the Photons campaign. Early users and supporters can now earn rewards, ensuring tokens go to those who actively contribute and engage with Pryzm, rather than a few select VCs.
Join us in democratizing token distribution and building a vibrant, user-driven DeFi ecosystem with Pryzm.
What is a Photon?
A Photon represents your active participation within the Pryzm ecosystem. By holding certain tokens or performing specific actions, you earn Photons — reward points that increase your share of the Pryzm token airdrop. These Photons are awarded daily, reflecting the dollar value of the qualifying tokens you possess. The campaign lasts up to three months but could end earlier upon reaching a certain Total Value Locked (TVL).
Simplifying Your Path to Earning Photons with Pryzm
Pryzm makes earning rewards straightforward. Here’s how you can earn Photons and get the most out of your participation:
Provide Liquidity
Add liquidity to a featured Boost pool to earn Photons, asset yield, and swap fees. Boost Pools include the asset, a liquid staked token, and principal tokens. You can add liquidity with only the underlying asset or buy an LP token. Just hold the LP token in your wallet to earn Photons and yield.
Photons Formula: Photons/Day = LP Token Price × Photons Multiplier × Your LP Tokens
Yield Token Staking
Yield Tokens (YT) offer leveraged exposure to yields and points, reflecting market rates. They give you the right to receive all staking yield and rewards for one unit of the underlying asset at a fraction of the price.
Yield token Photons are calculated based on the price of the underlying asset. As the yield token gets cheaper compared to the underlying asset, you earn more Photons per dollar spent. For example, if the underlying asset is valued at $1 and the Photons multiplier is 10, each yield token will earn 10 Photons. If a yield token is priced at $0.50, you can buy 2 yield tokens for $1, giving you 20 Photons per dollar spent. Similarly, if a yield token is priced at $0.10, you can buy 10 yield tokens for $1, earning you 100 Photons per dollar spent.
How It Works:
- Yield and Points: Each yATOM streams yield and points generated by 1 ATOM to you until maturity.
- Market Rates: As YT prices decrease, you earn more yield and points per dollar.
- Liquidity: Pryzm positions aren’t locked, allowing you to sell YT anytime at market rates.
- Staking: Stake YT to start earning yield immediately, with no unbonding period for unstaking.
Photons Formula: Photons/Day = Liquid Staked Token Price × Photons Multiplier × Staked Yield Tokens
Yield Token Super Staking
Super Staking lets you maximize Photon earnings by forgoing the asset yield. You earn Photons at a higher rate with yield tokens. For example, a $1 liquid staked token typically earns 1 Photon per day, but if its yield token trades at $0.10, you earn 10 Photons per dollar. If the yield token price drops, your Photons per dollar increase and vice versa. Yield tokens earn Photons until maturity.
Photons Formula: Photons/Day = Liquid Staked Token Price × Photons Multiplier × Staked Yield Tokens
Pledging
This is perfect if you would like to earn Photons but you have tokens with an undelegating period or have tokens locked away in other DeFi protocols with an unbonding period. Pledging allows you to transfer staked or locked tokens to Pryzm while still earning rewards. Typically, unstaking takes 21 days, but with Pryzm, you declare the tokens you intend to bring and earn Photons daily during the 21-day process. Once undelegated or unlocked, bring them to Pryzm to mint a liquid staked token or qualifying liquidity pool token and crystallize your earned Photons. You have the 21-day period plus a buffer to deliver the tokens and crystallize your Photons. If you deliver your tokens sooner, you’ll earn pledge points up to that time and can then earn Photons at a higher rate by providing liquidity.
Important Note: ATOM delegated on the Cosmos Hub can be instantly transferred with no unstaking period so you do not need to Pledge or you will miss out on ATOM yield and higher photons!
Photons Formula: Amount Pledged × Token Price × Pledging Photons Multiplier
Referring
For any user who lists you as their referrer, you will earn a bonus of 20% of the Photons they earn from that point onwards. Pryzm also allows you to use your Twitter handle as your referral code, meaning anyone you inspire or influence can simply enter your handle, and you receive the referral bonus. To benefit, the referrer must connect the wallet owning the ICNS (Interchain Name Service) name matching their Twitter handle. This way, anyone can benefit from being a content creator, and users can show gratitude without affecting their Photon balance. There is a leaderboard where you can check your referral points and how you compare to others!
Photons Formula: (Staking Photons + Super Staking Photons + Providing Liquidity Photons) × 20%
Duration and Token Distribution of the Photons Campaign
The Photons Campaign will run for a maximum of 3 months, but it may conclude earlier if the Total Value Locked (TVL) milestones are achieved sooner. Up to 130 million Pryzm Tokens will be distributed, representing 13% of the total 1 billion Pryzm Genesis Token supply.
Milestones and Community Bonuses
To incentivize and reward contributions, Pryzm has set the following milestones and bonuses:
Up to 130 million Pryzm Tokens: Distributed according to the TVL milestones below:
Community Bonuses:
- Extra 10 million Pryzm Tokens if the 20 million USD TVL milestone is reached within the first month.
- Extra 20 million Pryzm Tokens if the 50 million USD TVL milestone is reached within two months.
These bonuses will be distributed pro rata based on the Photons earned up to the point the milestones are hit.
Fair Distribution
Apart from community bonuses, up to 100 million Pryzm Tokens will be distributed proportionally based on the number of Photons each participant earns by the end of the campaign. This ensures that the more Photons you accumulate, the larger your share of Pryzm Tokens, guaranteeing a fair and equitable distribution that rewards all active contributors within the Pryzm ecosystem. The TVL milestones ensure that early users are continually rewarded as more people join, preventing dilution of their rewards and rewarding users for referring others.
Conditions:
- Tokens will be released at the end of the campaign, pro rata, based on the number of Photons earned.
- Bonus tokens will be released after the campaign but distributed based on a snapshot of Photon balances when the TVL target is reached to reward those users who were active at the time the milestone was reached.
- TVL targets are achieved after maintaining the level for 14 days. Snapshots for bonus amounts are taken after this 14-day period.
- TVL is the market cap of Liquid Staked Tokens deposited in Pryzm to mint Yield Tokens & Principal Tokens.
Important: Every user must have a referrer. To receive PRYZM tokens at the end of the campaign, you must enter a valid referrer. Self-referrals are prohibited. Rewards from self-referrals will be redistributed or offered as bounties for those who expose them. Your referrer will get a 20% bonus of your points, which is a bonus on top of your Photons and doesn’t affect your Photons balance. Choose someone who has been helpful, for example by sharing ideas, producing content, or creating tutorials.
As we journey together through the Photons campaign, Pryzm remains dedicated to empowering its community. By actively participating, you not only enhance your potential rewards but also contribute to the growth and strength of our ecosystem. Join us in this ground-breaking initiative, and let’s reshape the future of decentralized finance, one Photon at a time.
FAQ
Can you give an illustration of how Pryzm works?
What will happen at the end of the Photons campaign? At the campaign’s end, your accumulated Photons will convert into Pryzm Tokens based on your total Photons. These tokens will be distributed to your wallet.
Are Photons transferable? Photons are not transferable. However, if you own the underlying asset and want to sell your right to Photons, you can mint a yield token and principal token, then sell the yield token. This way, you still own your original asset but are paid upfront for the yield and the Photons it will accrue daily until maturity.
Do I need to stake the Yield Token to earn Photons? Yes, you need to stake the yield token on the portfolio page. There’s no unstaking period; staking simply informs the chain of how much rewards to pay you and when!
