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.

Vault Shares and p{VAULT}

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.

Buyback and Burn

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.

Supply and roles

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.