TERRA: Arbitration on Prism

$PRISM, a prismatic (short) post.

Oh, don't mind me: I'm just claiming 100.224 $PRISM from @prism_protocol on a $xPRISM burn for a

98.39% annualized gain.

Gain computation 

... which leads us to

🚨🚨🚨

ARBITRAGE opportunity on Terra

🚨🚨🚨

Two ways to do this, depending on if you have $PRISM on hand.

If you have $PRISM

1. SWAP 1298.44 $PRISM for 1299.85 $xPRISM

"Not much of an arbitrage," you say.

Wait for it...

If you lack $PRISM

DO NOT SWAP 1000 UST for 1298.44 $PRISM

1. SWAP 1000 UST for 1298.65 $xPRISM

Because ...

With your $xPRISM, go to the Govern-page of @prism_protocol, and:

2. 21-day burn 1298.65 $xPRISM to 1353 $PRISM

for comparison, if you swapped back you would be down to 1290 $PRISM, or a 63 $PRISM loss (so: don't do that).

1000 UST SWAPs to 1298.65 $xPRISM which takes 21 days to burn to 1353 $PRISM which is $1032.38 at today's prices.

69.78% annualized gain

Arbitrage computation