Zürich, Switzerland, April 26, 2022 — Prismatic — the premier hub for decentralized autonomous organizations (DAOs) on the Algorand network focusing on no-code DAO-creation with treasury management, governance and community tools — is proud to announce its strategic partnership with Pact’s decentralized automated market maker (AMM) platform.
The partnership will allow the integration of Prismatic with Pact’s swapping functionality and liquidity pools, enabling DAO treasuries to diversify assets easily and generate yields from provided liquidity — all from one interface. Prioritizing ease-of-use, flexibility and security for DAOs, Prismatic furthers these goals by providing access to Pact’s trading experience designed with users first in mind.
Pact gives 100% of liquidity pool fees back to liquidity providers and occupies a unique position in the ecosystem. One of the friendliest Algorand-based decentralized apps, Pact is a trading experience with a mobile-first design philosophy, offering deep liquidity and low transaction fees. The decentralized AMM recently announced a $1-million incentive program and hit a new all-time-high total value locked.
Signing this strategic partnership agreement with Prismatic will open the door to more volume and deeper liquidity by giving Algorand-based DAOs an easier and much-needed quality-of-life upgrade when it comes to liquidity provision and asset rebalancing.
“We look forward to a long-term partnership with Prismatic to further improve the decentralized finance (DeFi) experience for DAOs and liquidity providers on Algorand,” said Dojo, core contributor of Pact. “As two organizations that share many common goals with respect to empowering communities, democratization of finance and sustainability, we are delighted to collaborate to bring in the next generation of secure and user-friendly DeFi. We look forward to having Prismatic tooling to support our eventual evolution into a DAO.”
Having raised $2 million in February, Prismatic is gearing up for its first product launch this quarter. The launch will establish the first DAO-tooling suite on Algorand and will significantly improve DAO wallets and treasury management for communities. Ultimately, Prismatic aims to provide user-friendly DAO capabilities and serve as a singular interface for DAO management.
“This integration is a key milestone before our upcoming product launch and a testament to our focus on laying down more rails of liquidity and providing treasury management tooling for the ecosystem,” said Johan Auster, chief technology officer of Prismatic. “We at Prismatic are extremely excited for what this means for our ability to supercharge DAO participation in the DeFi ecosystem on Algorand.”
About Pact
Pact delivers the seamless integration of financial assets on Algorand’s noncustodial, decentralized platform, where secure, safe and reliable DeFi is available to its ecosystem.
Backed by key strategic partnerships, Pact is securely built with the technical sophistication and assurance of Algorand’s proof-of-stake mechanism. Striving for a greener future, it is equally committed to environmentally sound innovation and product development, fully endorsing Algorand’s emissions initiatives toward a carbon-negative approach.
For more information about Pact, visit pact.fi.
About Prismatic
It is Prismatic’s mission to enable the next generation of organizations to thrive. It believes that magical things can happen when a group of diverse people comes together to collaborate with a set of common goals in mind. At the intersection of decentralized community ownership — enabled by Web3 technology and the emergence of self-organization — lies a powerful dynamic that can fundamentally change the relationship between people, ownership and work.
That is why Prismatic provides the lowest possible entry barrier to create, participate and collaborate in decentralized organizations while empowering communities to embrace self-organization without mandatory hierarchies. It is excited about helping DAOs achieve their goals.
For more information on Prismatic, visit prismatic.fi or follow on Twitter and Discord.