Description
Pryzm is a layer-1 blockchain built on the Cosmos SDK, dedicated to the harvesting, trading, and utilization of yield. The protocol's core feature is 'refraction,' which separates yield-bearing assets (cTokens), such as Liquid Staking Tokens (LSTs), into their principal (pTokens) and yield (yTokens) components. This allows for the independent trading of principal and yield, opening up new DeFi strategies for managing risk, speculating on future yields, and securing fixed rates. Pryzm's ecosystem includes a decentralized exchange (AMM) for these tokens, liquid staking, liquid voting, and developer tools like FlowtradeJS and OracleJS to facilitate building on the network.