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What you cannot do

Exit early. Pools run 30 to 90 days and there is no redemption before maturity in version one. No AMM, no secondary market, no reserve. Those come later, if at all.
“If at all” is deliberate. An AMM, a distress auction, an instant-withdraw reserve and batched redemption are all excluded from version one and are not promised for any later version. See contract mechanics in version one.

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Why it is built this way

Short tenor is the substitute for liquidity. Rather than build an exit mechanism, PRISM keeps the commitment short enough that an exit matters less — and keeps the capital working the whole time it is committed. An open-ended pool that offers redemption has to hold cash against it. That cash earns nothing while still diluting returns. See why the tenor is short and utilisation.

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What this means for you

A 60-day lock is the price of capital that is never lazy. If you cannot hold an illiquid note to maturity, these notes are not for you — see who this is for.