PROSPER launches new structure for verifiable onchain performance data

PROSPER has launched Performance Markets, a new framework built on Pharos Network. It allows third-party operators to connect verifiable onchain performance data with independently priced crypto-native assets.

The framework introduces MemeRWA. In MemeRWA, observable economic performance serves as a reference for a crypto-native asset without tokenizing ownership of the underlying strategy.

Each Performance Market consists of two parts. Vault Shares provide direct exposure to an onchain strategy. p{VAULT} is a separately priced asset associated with the Curator and strategy.

p{VAULT} does not represent ownership in the Vault, track its NAV or provide holders with a claim on its assets, performance or profits. A public bonding curve initially sets its price, and after graduation, external liquidity does. The corresponding Vault’s performance remains observable onchain.

Performance Markets also include a predefined Buyback and Burn mechanism. The mechanism starts when a Vault strategy exceeds its high-water mark. It then uses a predefined portion of eligible performance fees to purchase the corresponding p{VAULT} on third-party decentralized exchanges, and permanently burns the acquired tokens.

PROSPER says smart-contract logic automates the mechanism. The company says it did not design the mechanism as a price-support, stabilization or market-making program.

Each p{VAULT} launches with a fixed supply of 1 billion tokens, with no presale, team allocation or insider allocation. Vault holdings, NAV, fee accrual, bonding curve reserves and buyback transactions are observable onchain.

PROSPER provides the infrastructure for third-party Curators to create and operate Performance Markets. Curators deploy and manage the underlying onchain strategies through its Vault infrastructure.

Contributed article. Not produced by the TNW newsroom and does not reflect the editorial stance of TNW.