Prism uses smart contracts to allocate investment in digital assets in a decentralized fashion. That is what makes it trustless, a feature that our users greatly value.
Once ETH is deposited, the smart contract is activated, and the specific percentages and their associated amounts for each asset are purchased on various exchanges. Through opening and closing a Prism with the same Ethereum address, Prism enables users to retain their privacy while maintaining control of their Prism in a decentralized fashion.
Moreover, each Prism contract calculates its own value on-chain by interacting with our Oracle contract. The Oracle reads pricing data from several different exchanges, making the value fair for the user. Users are protected by design since they will be using public Ethereum blockchain addresses. This, in turn, automates Prism’s inventory management while empowering users and staying in-alignment with ShapeShift’s ethos of decentralization.