PrismaLRT Ultra(ULTRA)

Stablecoin Information

ULTRA is a new stablecoin issued by PrismaLRT, a new borrowing protocol developed by Prisma focused on unlocking liquidity for Liquid Restaking Tokens (LRTs).

Category:crypto-backed

Minting and Redemption

As a decentralized stablecoin on the Ethereum Mainnet, $ULTRA is minted by users (borrowers). As with all borrowing on Prisma, a user must supply collateral (at a specific collateral ratio) to be able to mint $ULTRA. Correspondingly, when a user repays a debt position (or is liquidated), PrismaLRT protocol burns that user’s $ULTRA.

Audits:No