Let's dive deep into Core Concepts now that we've covered the basics
Prysm is a co-ownership framework & application for groups to fund and achieve any mission continuously.
The best Squads on Prysm start with a clear mission or goal and use it to recruit like-minded members. As the group achieves its mission, they attract new members and set its sights on more ambitious goals. This is the Squads Lifecycle.
As your Squad goes through its Lifecycle you will need to accomplish many tasks as a group.
- Creating a Vault/wallet, getting started, and setting up a governance model with your early members
- Raising funds from your community. You may want to raise in ETH, ERC20s, or even NFTs. Once the raise is complete, the cap-table is defined and you'll need to track ownership of the Vault/wallet.
- Once you have funds and members, you'll begin considering on-chain transactions that can help you accomplish your mission. Members will want to propose transactions and then need to vote on which ones you want to make and execute.
- As you accomplish our mission, you'll want an easy way to track your holdings and fair ways to value assets like grail NFTs that can have subjective values.
- You'll want to show off what your squad has accomplished and easily share wins pubically. This will attract new members. On the flipside, existing members may want to exit or get a distribution.
- Finally, you'll refine your mission, think about another fundraise, and repeat this entire process.
Prysm can help accomplish all of these tasks. We've developed a Co-Ownership Framework to take you through your entire Squad Lifecycle.