Head of Delphi Labs Jose Maria Macedo sits down with Hyperion, General Manager of PRISM, a protocol that “refracts” digital assets into yield and principal components, enabling the next level of DeFi composability. The two discuss the potential of interest rate derivatives in crypto, projections for principal and yield tokens, the composability of these refracted assets, and much more!
Show Notes:
(00:00:00) – Introduction.
(00:01:27) – Hyperion’s background.
(00:05:42) – Deciding to build in crypto.
(00:07:27) – Interest rate derivatives in TradFi.
(00:11:09) – Using interest rate derivatives as a hedge.
(00:14:40) – The size of the interest rate derivatives market.
(00:16:50) – The founding basis of PRISM.
(00:17:45) – Bonding / yield curves in crypto.
(00:22:06) – The user journey on PRISM.
(00:23:45) – Price expectations for pLuna and yLuna.
(00:29:37) – Long/short strategies for pLuna and yLuna.
(00:32:10) – Perpetuals for pLuna.
(00:34:35) – Fixed maturity on the tokens.
(00:37:15) – The relationship between p tokens and y tokens.
(00:38:57) – Tokens beyond pLuna and yLuna.
(00:42:08) – The possibilities for aUST?
(00:44:48) – Additional functionalities on PRISM.
(00:48:01) – The $PRISM token.
(00:53:11) – Composability use-cases for PRISM.
(00:55:24) – Why interest rate derivatives have not gained traction in crypto.
(00:59:41) – The core interest rates in crypto.
(01:03:52) – Closing thoughts.
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Disclosures: This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Digital may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token. Delphi’s transparency page can be viewed here.
