Introduction to Yearn PRISMA Incentives Farming
The Prisma Wars are officially underway, which means full steam ahead for yPRISMA: Yearn's newest tokenized locker product.
Yearn has claimed its PRISMA airdrop as yPRISMA and is preparing to distribute these tokens to yCRV users and yPRISMA LPs.
This post will outline exactly how that will work.
What's happening with Yearn's veCRV Airdrop?
The roughly 280,000 yPRISMA tokens minted from Yearn's airdrop claim will be distributed across two simple staking contracts: yCRV and yPRISMA LPs.
If you are a user in the yCRV ecosystem, you may migrate your position by withdrawing to vanilla yCRV and depositing it into the new staking contract on https://yprisma.yearn.fi to earn yPRISMA rewards.
What do I do with yPRISMA?
The yPRISMA ecosystem aims to deliver a user experience similar to yCRV. As the Prisma DAO is still in the bootstrapping phase, there is not yet a clear decision on how protocol fees will be distributed to vePRISMA holders.
As the Prisma protocol continues progressing towards native yield distribution to vePRISMA lockers, Yearn has approved a subsidized incentive program for yPRISMA stakers. This will provide a direct source of yield for yPRISMA users as we wait for the DAO to turn on the fee switch.
Rewards Breakdown
The breakdown of the scheduled events will be:
| Deposit Token | Reward Token | Reward Token amount | Start time |
|---|---|---|---|
| yPRISMA | wstETH | 18 | Nov 09 |
| yPRISMA | dYFI | 6 | Nov 16 |
| PRISMA Early-user Airdrop | n/a | n/a | Nov 09 |
| yCRV | yPRISMA | 200,000 | Nov 10 |
| Curve PRISMA/yPRISMA LPs | yPRISMA | 80,000 | Nov 10 |
You can claim and deposit at https://yprisma.yearn.fi