Bootstrapping a $150m Stablecoin with Richard from Prisma Finance - Flywheel #85

In this week's episode we have on Richard from Prisma, we've been wanting him to come on the show for a couple of months now, as the LSD stablecoin protocol has been one of the fastest growing of Frax's partners last year. We spoke with him on a variety of topics that included bootstrapping Prisma, navigating its launch, its wild growth, and plans for the future.We cover topics such as the Prisma system and its use of liquid staking derivatives, the stability pool and redemption process, pain points for users and developers, the lockdrop and emission schedule, and the success factors behind Prisma's launch.We also explore the value accrual of the Prisma token, revenue distribution, and the upcoming smkUSD release.TakeawaysFinding the right balance in the DeFi ecosystem is a challenge, but it is possible with the right product-market fit and collaboration.The important role of Frax, Curve, and Convex to the Prisma ecosystem.Partnerships and integration with existing systems can help advance a DeFi protocol and drive its success.Understanding risks and providing tools for users to make informed decisions is crucial for the growth of the DeFi space.Narrative and branding play a significant role in attracting users and creating a strong community.Exploring innovations outside of Prisma and staying open to new opportunities is important for personal and professional growth.