Pryzm Introduces Yield Tokenization for INJ and Launches StakeDrop Campaign

Pryzm, a groundbreaking blockchain dedicated to yield, announces a pivotal development for INJ (Injective) token holders. INJ will now be eligible for yield trading on Pryzm, a platform designed to revolutionize decentralized finance (DeFi) by providing tools for managing volatile prices and unpredictable yields. This marks a significant step towards unlocking the future value of crypto assets, allowing users to tokenize and trade future yields from any asset.
The Significance of Yield Trading for INJ on Pryzm
Injective, a leading blockchain for DeFi, boasts a high APR of 15.6%, the second-highest market cap among IBC connected tokens, and a substantial user base of nearly 270,000 active users. Despite these strengths, Injective stakers have faced challenges with volatile yields, exposing them to income fluctuations without the ability to hedge or capitalize on them. Pryzm, with its focus on yield trading, is positioned to address these issues, making INJ an ideal asset for such trading. Pryzm introduces tools that allow users to split, swap, and leverage their yield components, providing a comprehensive solution for INJ holders.
How Pryzm Enhances Value for INJ Holders
Pryzm offers several benefits to INJ holders, enhancing the value and utility of their tokens within the ecosystem:

1. Yield Tokenization:
   • INJ holders can convert their future staking yields into tradable tokens on Pryzm or other DeFi platforms, opening up new avenues for income and risk management.
2. Liquid Voting:
   • Voting rights on crucial Injective proposals are retained, even if INJ tokens are split on Pryzm. Additionally, INJ tokens on Pryzm carry higher voting power than those on Injective.
3. Restaking on Pryzm Zone:
   • INJ tokens can be restaked on Pryzm's chain, allowing users to earn extra rewards while still receiving the original staking rewards from Injective, maximizing overall yield.
4. Use of INJ as Gas on Pryzm:
   • INJ can be utilized as a gas token on Pryzm, showcasing its versatility within the Pryzm ecosystem.

Participation in StakeDrop Campaign: Up to 200 Million Tokens Allocated
To further incentivize and reward community support, Pryzm has launched the StakeDrop campaign, allocating up to 200 million Pryzm tokens (~20% of the total supply). The StakeDrop campaign, already live on other networks like ATOM, OSMO, and LUNA, is now extended to INJ.
Steps to participate in the StakeDrop campaign:

1. Ensure you have a compatible wallet installed with INJ.
2. Visit the Pryzm Validator and either click "Stake" or "Redelegate" (avoid clicking "Undelegate").
3. Regular snapshots will be taken, rewarding more substantial and longer delegations with larger airdrops.

Pryzm emphasizes its commitment to community funding and decentralization, steering away from venture capital funding to distribute tokens among a broader audience. The StakeDrop campaign is positioned as an opportunity for the community to earn tokens before the mainnet launch, fostering a vibrant and engaged Pryzm community.
How to Delegate and Redelegate: A Step-by-Step Guide
For those unfamiliar with delegating, a step-by-step guide is provided for both Keplr Wallet users and those using different wallets. The guide emphasizes the importance of choosing "PRYZM | StakeDrop" when redelegating for the campaign.
Conclusion: Cautionary Notes and Future Outlook
The article concludes with a disclaimer, stressing that the information provided is for informational purposes only and not financial, investment, or legal advice. Users are encouraged to conduct their research before participating in the StakeDrop campaign or using the Pryzm blockchain. The experimental nature of Pryzm is acknowledged, and users are urged to be aware of potential risks.
In summary, Pryzm's integration of INJ for yield trading, coupled with the StakeDrop campaign, introduces exciting opportunities for INJ holders. The platform's focus on yield tokenization and additional benefits for users positions Pryzm as a significant player in the evolving landscape of DeFi. The step-by-step guide and commitment to community-driven initiatives underscore Pryzm's dedication to inclusivity and decentralized ownership.