PRYSM Introduces First On-Chain Benefit for PRYSM Black NFT Holders
PRYSM is excited to announce its first on-chain benefit exclusively for PRYSM Black NFT holders. For those who may not be aware, prior to announcing PRYSM, the team created a free NFT known as PRYSM Black. Eligible holders who had not sold any of their Arbitrumium holdings leading up to the announcement were granted this NFT as a way to honor their early commitment to the project. Not only does PRYSM Black celebrate their loyalty, but the team also wants to provide exclusive on-chain and off-chain benefits to its holders.
In our most recent Medium article, we detailed how the PRYSM airdrop process will benefit ARM holders. Taking periodic snapshots between the launch date of Arbitrumium and the PRYSM mainnet launch to evaluate the quantity of PSM coins to be given as a reward to individual ARM holders. These snapshots are referred to as “reward zones” by the team. Although the precise allocation amount for the airdrop has not been confirmed, it will evenly be split among the number of reward zones. The PSM available in each reward zone will be distributed among ARM holders based on their individual market share percentage of ARM.
By using this approach for the airdrop, PRYSM can reward its most committed investors in an equitable manner. However, a segment of the airdrop will remain unassigned due to the liquidity pool consuming a portion of the market share and the burnt supply taking up another share. These two segments will change as the snapshots are taken, the market share of the burnt supply will only increase and the liquidity pool's market share will fluctuate based on the demand for Arbitrumium.
The team recognizes that the LightLABS foundation could utilize the unused allocation, as they are responsible for maintaining and overseeing PRYSM. Nevertheless, it is a fundamental principle of the project to reward and demonstrate appreciation toward those who have supported and continue to support PRYSM, particularly at this early stage.
This means the airdrop allocation, consisting of the combined market share of both the liquidity pool and burnt supply at each reward zone, will be divided equally among all PRYSM Black NFT holders. For instance, there are presently 62 successful applicants for PRYSM Black, and 5 are available as prizes on the PRYSM Crew3 quest, totaling 67. As of now, both the liquidity pool and burnt supply represent 14.6% of the Arbitrumium supply, resulting in an additional 0.21% of the total airdrop distributed to each Black NFT holder.
Furthermore, this offers a silver lining for our most devoted investors during times when demand for Arbitrumium may lessen. If the market share of the liquidity pool rises, the total amount of unassigned airdrop also increases, resulting in a larger PSM reward for PRYSM Black NFT holders at mainnet.
Our aim is to utilize this initial on-chain benefit as a means of showcasing the team’s commitment to establishing a fair, reliable, and transparent ecosystem that acknowledges and incentivizes all stakeholders. Kindly take note that the PRYSM airdrop is separate from the token swapping process where Arbitrumium holders trade their tokens for PSM coins. The airdrop is an additional initiative meant to reward ARM holders.
If you’re interested in learning more about PRYSM and connecting with the community, be sure to check out our Website, Discord, and Twitter. Join the community and stay up-to-date on all the latest news and developments surrounding PRYSM Network.
