Add Prosper #12950

prosper-fi · 2025-01-03T09:02:08Z

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Name (to be shown on DefiLlama):

Prosper

Current TVL:

59.94M

Treasury Addresses (if the protocol has treasury)

Will be added in the future

Chain:

Token is currently on BSC, ETH;
staking is currently on BSC;
soon to do token upgrade to LayerZero OFT standard to add more chains and create unified token supply

Coingecko ID (so your TVL can appear on Coingecko, leave empty if not listed): (https://api.coingecko.com/api/v3/coins/list)

prosper

Coinmarketcap ID (so your TVL can appear on Coinmarketcap, leave empty if not listed): (https://api.coinmarketcap.com/data-api/v3/map/all?listing_status=active,inactive,untracked&start=1&limit=10000)

8255

Short Description (to be shown on DefiLlama):

Prosper is pioneering tokenization of institutional-grade BTC hashrate as omnichain RWA and building a flywheel around its token with both hashrate and BTC treasury.

Token address and ticker if any:

BNB Smart Chain (BSC): 0xed8c8aa8299c10f067496bb66f8cc7fb338a3405
Ethereum: 0x8642a849d0dcb7a15a974794668adcfbe4794b56

Category (full list at https://defillama.com/categories) *Please choose only one:

RWA

Oracle Provider(s): Specify the oracle(s) used (e.g., Chainlink, Band, API3, TWAP, etc.):

n/a

Implementation Details: Briefly describe how the oracle is integrated into your project:

Documentation/Proof: Provide links to documentation or any other resources that verify the oracle's usage:

forkedFrom (Does your project originate from another project):

n/a

methodology (what is being counted as tvl, how is tvl being calculated):

TVL combines the estimated value (represented as USDC) of tokenized RWA hashrate by multiplying the protocol's live hashrate amount (in EH/s) × valuation multiple ($119.8M per EH/s) + value of staked PROS tokens.

The valuation multiple is estimated as follows: for the top 17 listed BTC mining companies in the US and Canada, 1/ gather their enterprise value and amount of live hashrate; 2/ calculate the multiple for each company as EV / hashrate; 3/ finally, take the average of these multiples, excluding the max and min values.

The protocol's live hashrate amount comes from Antpool's API for the protocol's accounts.

Github org/user (Optional, if your code is open source, we can track activity):

n/a

llamabutler · 2025-01-03T09:02:34Z

The adapter at projects/prosper exports TVL:

bsc                       59.66 M
bsc-staking               1.13 M
staking                   1.13 M

total                    59.66 M

prosper-fi · 2025-01-03T10:45:01Z

Hi DefiLlama team! We're looking to understand if our proposed methodology above could work / make sense to you. If so, we can actually further enhance the adapter to use a dynamic number for the valuation multiple from an API that we host (rather than the current static number).

Looking forward to your feedback!

waynebruce0x · 2025-01-03T13:09:28Z

projects/prosper/index.js

+// ------------------------------
+async function stakingOnly(api) {
+  // Just do the staking logic
+  const totalSupply = await api.call({


can we use the staking contact balance instead of totalsupply?

We use the totalSupply of the "receipt" token (rePROS) here as it should be the most accurate reflection of how many tokens are currently staked. The staking contract balance of PROS may be slightly higher than how many are staked because we have an unbonding period of 72h. That is, once a user unstakes their PROS, that balance would still be in the contract until after the unbonding period and after they claim their tokens—however, the rePROS balance would already have decreased.

waynebruce0x · 2025-01-03T13:09:42Z

projects/prosper/index.js

+
+  // PART B: Staking
+  //  => treat the total supply of the receipt token as the "original token" balance
+  const totalSupply = await api.call({


this logic should only be in stakingOnly()

We included staking again here as well so the total TVL would be the hashrate + staking value. We actually had it initially as just hashrate and then just staking, but then the total TVL given by the testing function would only include the hashrate TVL and exclude the staking portion.

Would you suggest to use a different function name / category for the hashrate portion?

waynebruce0x · 2025-01-03T13:12:58Z

projects/prosper/index.js

+    // Convert PH/s => EH/s
+    const hashrate1 = (parseFloat(res1?.data?.data?.hsLast1D) || 0) / 1000;
+    const hashrate2 = (parseFloat(res2?.data?.data?.hsLast1D) || 0) / 1000;
+    const totalHashrate = hashrate1 + hashrate2;


can this be calculated using on chain methods opposed to a proprietary api?

The Antpool API would be the most accurate source of how much hashrate the protocol currently has live, as Antpool is the mining pool provider / operator.

The part that we look into making on-chain is the valuation multiple—we'll check to see if any of the oracles provide the relevant data.

Hi @waynebruce0x , we've looked further into the valuation multiple calculation. We would propose the below. Let us know your thoughts before we proceed with implementation:

Protocol's hashrate - source from Antpool API. This is the most accurate source of how much hashrate the protocol currently has live, as Antpool is the mining pool provider / operator. This data does not appear to be available via Chainlink or similar.

Valuation multiple - source from a public Google Sheet via Google Sheets API. On the publicly accessible sheet, list of publicly listed mining companies is compiled, together with enterprise value data and hashrate data from reputable sources (https://sheetsfinance.com/ for enterprise value and https://data.hashrateindex.com/stocks API). The compiled data is used to calculate the valuation multiple, which can be then returned finally using the Google Sheets API. Unfortunately, this data does not appear to be available on Chainlink or similar either.

Let us know what you think of this approach!

waynebruce0x · 2025-01-03T13:13:34Z

projects/prosper/index.js

+// Module Exports
+// ------------------------------
+module.exports = {
+  methodology:


if this adapter is exporting a USDC amount, misrepresentedTokens: true should be added here

Thanks, will update!

waynebruce0x · 2025-01-10T11:35:18Z

Is this TVL tradable? If not then we cant list this sorry

prosper-fi added 3 commits January 3, 2025 14:18

Create test.md

5ac5ce2

Delete projects/prosper/test.md

6552810

Create index.js

6d2e553

waynebruce0x reviewed Jan 3, 2025

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Add Prosper #12950

Add Prosper #12950

prosper-fi commented Jan 3, 2025

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prosper-fi commented Jan 3, 2025

waynebruce0x Jan 3, 2025

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waynebruce0x commented Jan 10, 2025

Add Prosper #12950

Are you sure you want to change the base?

Add Prosper #12950

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prosper-fi commented Jan 3, 2025

Please enable "Allow edits by maintainers" while putting up the PR.

Name (to be shown on DefiLlama):

Twitter Link:

List of audit links if any:

Website Link:

Logo (High resolution, will be shown with rounded borders):

Current TVL:

Treasury Addresses (if the protocol has treasury)

Chain:

Coingecko ID (so your TVL can appear on Coingecko, leave empty if not listed): (https://api.coingecko.com/api/v3/coins/list)

Coinmarketcap ID (so your TVL can appear on Coinmarketcap, leave empty if not listed): (https://api.coinmarketcap.com/data-api/v3/map/all?listing_status=active,inactive,untracked&start=1&limit=10000)

Short Description (to be shown on DefiLlama):

Token address and ticker if any:

Category (full list at https://defillama.com/categories) *Please choose only one:

Oracle Provider(s): Specify the oracle(s) used (e.g., Chainlink, Band, API3, TWAP, etc.):

Implementation Details: Briefly describe how the oracle is integrated into your project:

Documentation/Proof: Provide links to documentation or any other resources that verify the oracle's usage:

forkedFrom (Does your project originate from another project):

methodology (what is being counted as tvl, how is tvl being calculated):

Github org/user (Optional, if your code is open source, we can track activity):

llamabutler commented Jan 3, 2025

prosper-fi commented Jan 3, 2025

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waynebruce0x commented Jan 10, 2025