monco

building @tradeonprism

[monco @0xmonco]

Statement on Prism and the previous burn announcement.

Over the past few days, Prism has shipped Prediction Markets through Polymarket, native onchain trading, and referrals. Prism has also been added to the Lighter Ecosystem.

I also need to correct the earlier 3% burn post.

I sent fiat (money we earned from fees) to a former intern, who was not crypto-native, with instructions to buy ETH and burn 2% of the supply, what the intern claims is that he doesn't know how to burn so he looked for an address and just sent it there, assuming that it will never get back in circulation. It was extremely late, and I had spent roughly 18 hours coding for Prism. I did not execute or supervise the burn transaction myself.

I take full responsibility for delegating a sensitive onchain action that I should have handled directly.

While I was asleep, the 3% burn post was published. I saw it only hours later, after it had already circulated. Since then, I have reviewed the chain extensively and could not find the 2% token transfer connected to those instructions. Since it was a token transfer to an address without an owner, we just assumed the supply as locked. The former intern has also stopped responding as I was asking for proof so that I can address it properly.

If the 2% of supply ever gets back to open market, we will market buy it with funds from our treasury.

For fee transparency, the public fee wallet currently holds approximately $0.15. Buybacks have so far been executed manually from collected fees, and I am working on an automated contract to make that process more transparent.

I am more than welcome to do AMAs, I have been contacted by @MCGlive and hopefully, I can address this on their platform too.

Moving forward, every material treasury action, including burns and buybacks, will be communicated more thoroughly and properly, with verifiable onchain records before any announcement is made.

[monco @0xmonco]

well, i don't really like talking down on others but i kinda expected this when they can't even do a proper WHOIS on domain names. haha.

[solvency @0xSolvency]

Since Prism Assets @prismassets holders love fudding Prism Finance @prismfinance so much, i ran Astra 6 Max Working on their front end to check whether their tech is even working.

LOL. all that talk with half-assed tech that's mostly illiquid.

[monco @0xmonco]

@TradeOnPrism this one was lowkey hard. haha.

[monco @0xmonco]

first make it work, then make it better, then offer it to the rest of the world.

[ogle @cryptogle]

@TradeOnPrism you guys really do ship a lot to be at $150k mc

[monco @0xmonco]

p.s. will improve my comms, sometimes when i lock in, i forget i have X (and other social media)

[monco @0xmonco]

my bad for the lack of posts, had to cancel the noise and just lock in on delivering features we think users will enjoy and actually use.

the end goal for prism is for you to open prism and manage all of your trades in one dashboard without having to shift tabs to multiple websites just to do that.

we've combined the best features from different types of trading into one dashboard. some, we had to use already built infrastructure, some, we made our own.

that being said, we are going to continue to ship features we think people will enjoy and will continue providing value to the platform.

[monco @0xmonco]

took me 3 full days of non-stop coding.

[Prism @TradeOnPrism]

Prism Liquidity Pools are here.

Users can now provide liquidity to their favorite assets on Robinhood Chain directly through Prism.

This is not simply another interface update. It is one of the largest infrastructure releases we have shipped so far.

https://t.co/9k4W5wxUG3

Read more below.

[monco @0xmonco]

@alyabu85 we already did it 4 hours ago (5 pm UTC+8), we can do another one tomorrow around the same time.

[monco @0xmonco]

i clearly stated i'll start the space UTC+8 (Manila Time).

[monco @0xmonco]

i didn't get a schedule yet from MCGLive so let's do our own AMA tomorrow through spaces.

5pm UTC+8. we'll be talking about prism as a product, what plans we have for prism, and everything in between. see you guys there!

[monco @0xmonco]

We have 0 fees on perpetual futures

[拾光者🏞 @zhangme31826120]

@0xmonco If Prism can offer truly competitive perpetual futures fees — for example, significantly below the effective rates of OKX (0.05% Taker → 40% rebate → 0.03%) and Binance (0.05% Taker → 30% rebate → 0.035%) — that could become a huge growth advantage.

[monco @0xmonco]

@fatbaldchad its 5pm UTC+8 bro, UTC+8. it's clearly on the post that its UTC+8. all you have to do is read.

[monco @0xmonco]

did a quick space with a few community members! talked about Prism's tech, future plans, what we are currently working on, and other stuff! no one wanted to ask me questions so maybe on the next space we can hold a proper AMA! haha! cheers https://t.co/0OVdZEY25E

[Prism @TradeOnPrism]

We just wrapped our first Prism Space with @0xmonco.

We spoke about what Prism has shipped, the lessons we are taking forward, and what we want to build next: more markets, more users, stronger tools, and a better all-in-one trading experience onchain.

Thank you to everyone who joined!

This is only the beginning.

Trade the world onchain.

[monco @0xmonco]

will start speaking at 5:15 to get more people in, invite your friends! then let's do a quick AMA after discussing Prism!

[monco @0xmonco]

See you guys later! https://t.co/0OVdZEY25E

[monco @0xmonco]

See you guys later! https://t.co/0OVdZEY25E

[monco @0xmonco]

spaces in an hour or so, see you!

[monco @0xmonco]

i didn't get a schedule yet from MCGLive so let's do our own AMA tomorrow through spaces.

5pm UTC+8. we'll be talking about prism as a product, what plans we have for prism, and everything in between. see you guys there!

[monco @0xmonco]

did you know: you can already trade 140 RWA assets natively on Robinhood Chain using @TradeOnPrism?

if you haven't tried, you should.

[monco @0xmonco]

@brutalcrypto0 @cryptogle We'd love to do an AMA for sure, we'll schedule one this week.

[monco @0xmonco]

https://t.co/1bWkRTMTpo

[monco @0xmonco]

@omarsaleh66 @TradeOnPrism it says there your wallet balance is <0.01$

[monco @0xmonco]

Statement on Prism and the previous burn announcement.

Over the past few days, Prism has shipped Prediction Markets through Polymarket, native onchain trading, and referrals. Prism has also been added to the Lighter Ecosystem.

I also need to correct the earlier 3% burn post.

I sent fiat (money we earned from fees) to a former intern, who was not crypto-native, with instructions to buy ETH and burn 2% of the supply, what the intern claims is that he doesn't know how to burn so he looked for an address and just sent it there, assuming that it will never get back in circulation. It was extremely late, and I had spent roughly 18 hours coding for Prism. I did not execute or supervise the burn transaction myself.

I take full responsibility for delegating a sensitive onchain action that I should have handled directly.

While I was asleep, the 3% burn post was published. I saw it only hours later, after it had already circulated. Since then, I have reviewed the chain extensively and could not find the 2% token transfer connected to those instructions. Since it was a token transfer to an address without an owner, we just assumed the supply as locked. The former intern has also stopped responding as I was asking for proof so that I can address it properly.

If the 2% of supply ever gets back to open market, we will market buy it with funds from our treasury.

For fee transparency, the public fee wallet currently holds approximately $0.15. Buybacks have so far been executed manually from collected fees, and I am working on an automated contract to make that process more transparent.

I am more than welcome to do AMAs, I have been contacted by @MCGlive and hopefully, I can address this on their platform too.

Moving forward, every material treasury action, including burns and buybacks, will be communicated more thoroughly and properly, with verifiable onchain records before any announcement is made.