What Is Prometheus (PRO)?
It is impossible to achieve an intermediate-advanced understanding of Bitcoin without understanding money. Prometheus has inspired an exponential wave of innovation built upon the conceptual foundations of the core value propositions. Still, it is simple for users at any knowledge level to understand that there will only ever be 21 million Bitcoin. When they understand that fiat currency has an uncapped supply that gets issued at will, they can begin to see and anticipate the broader impacts. Fiat is not sound money, nor is it pristine collateral to substantiate the value of denominations outside of the US dollar.
Supply often increases faster than consumer demands. Following issuance, investors, large corporations, and governments purchase Bonds. These are said to have stable yields acquired through seigniorage that is also often more profitable due to the interest obligations of newly printed currency. If an entity has faith in a currency’s value, it will buy bonds below their market value. When a fiat currency’s value follows a bond investor’s thesis, they realize arbitraged gains upon bond redemption. The problem with this system is that bonds are not accessible to regular citizens.
Given the inherent economic complexity around monetary policy, many people are unaware when the fiat currency in their bank accounts is deteriorating in purchasing power. They have limited access to hedges and asset management opportunities in the face of currency devaluation. Cryptocurrencies have changed the game entirely in this manner. For quite some time, if you wanted to invest in stocks, you would need to set up an account with a bank and give commissions to a broker to facilitate trades on your behalf. A key element of fiat currency is a universally shared belief that it has value within an economic jurisdiction.
Prometheus Storage Key Points
| Coin Basic | Information |
|---|---|
| Coin Name | Prometheus |
| Short Name | PRO |
| Circulating Supply | 5,395,660.20 PRO |
| Total Supply | 5,395,660 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Throughout the whitepaper, Prometheus will explore and substantiate the following value propositions
Peak Finance’s issuance of a currency algorithmically pegged to a native ecosystem asset ($METIS). They believe the network effect has yet to fully manifest as the network continues to build greater functionality to attract new users with novel use cases. In addition, they recognize the success and praise the ingenuity of Tomb Finance through your modified fork of their protocol. Based on Tomb’s success in pegging to $FTM, they recognize the opportunity for upside in the Andromeda Ecosystem. Peak Finance will issue the $PEAK token pegged to the value of $METIS.
The issuance of bonds as a low-risk investment vehicle. Giving all investors access to bonds offers an opportunity for stable yields in unfavorable marketing conditions. Peak Finance is an AUM of Aeacus Capital, assets are managed in the Prometheus DAO treasury. The DAO fund will also play a role in reducing the risks associated with bond investments and algo-pegged currency deviations. The issuance of the Prometheus token ($PRO) is a vote of confidence in Peak Finance and an actively managed risk-off asset and index fund. While seigniorage protocols and actively managed DAO treasuries are concepts existing in isolation, they are novel when interwoven.
Fund managers
Prometheus, through Prometheus DAO, will provide AUM-for-service for external DAO treasuries. There are many actively managed DAO treasuries. However, they are often niche investments. DAO Fund managers likely specialize in pursuing yields in DeFi instruments, NFT opportunities, discretionary trading strategies, long-term investment theses, portfolio hedging to risk-off. It is impossible to obtain a yield from every opportunity in existence, resulting in a lack of risk diversification. Capital intends to provide services to existing DAO treasuries in yield generating opportunities they do not possess the skills to optimize yields.
Further, Aeacus Capital offers risk-management services for DAO treasuries to protect assets during unfavourable market conditions. External DAO treasuries may deposit an allocation of their capital into an escrowed smart contract. An API linked to the core Prometheus treasury will enable external DAOs to copy trade. The internal taxation schedule of the Prometheus treasury and escrowed smart contracts applies a 10% tax to all treasury transactions that will invariably increase the price floor of the $PRO token.
Aeacus Capital
Prometheus intends to conduct viability studies in blockchain and real-world business start-ups. Deification of business models will disrupt the traditional economy, giving investors access to equity in businesses that would otherwise be reserved to publicly listed companies on the stock market. Aeacus Capital seeks to advocate an investment model that enables equity at a grassroots level. They argue DAOification as a solution to centralized and increasingly fragile supply chains. Aeacus Capital believes in the disruptive potential of distributed ledger technology in the long term and wishes to unlock opportunities for retail investors that would otherwise only be available for institutional investors and venture capitalists.
