The completion of the seed round is set to fuel the next cycle of growth for PrimeDAOs and bring the first set of DAO2DAO services to market.
A big milestone for DAO to DAO innovation — PrimeDAO is thrilled to close a seed round in which it raised $2 million from top DAO backers, including LD Capital, Stratos, TokenInsight, Signum capital, Stacker ventures, Senary Ventures, Atka Capital, ID Theory, SMAPE Capital, XeO4, Meld ventures, Faculty Group.
PrimeDAO is moving from governance 1.0 to 1.5! It’s a transitory but significant step towards our long-term vision for DAO governance.
Here’s the TL;DR
Governance 1.5 isn’t the end goal. But it will put us in a good position to work towards a stable long-term solution that fits our needs: trustless, representative, powerful, fractal, and usable.
Prepare your ratings–the Prime Rate-athon is coming! In anticipation of Prime Rating V2, we’re launching a rating competition for evaluating DeFi protocols using our Rating Framework, as mentioned in the recent round-up article. Those who participate will compete on six grand prizes totaling 7500 $USDC + 9000 $PRIME for the best raters in two main categories, plus 150 $USDC+ 200 $PRIME as a reward for every approved submission.
The Rate-athon will begin on the 5th of July 2021 at 2 PM CEST with a Discord kick-off call and last for ten days, concluding on the 14th of July. Within this…
Prime Rating is a DAO governed comprehensive framework for quantifying the quality and risk of open finance protocols. The Prime Rating system operates through a permissionless process governed by the Prime Rating DAO. Prime Rating is built to improve the resiliency and functionality of the open finance ecosystem, educate end-users about the quality and associated risks, and create a benchmark for an open financial system that is permissionless, trustless, and transparent while respecting user sovereignty. Prime Rating evaluates protocols from the perspective of a protocol token holder based on smart contract quality, data quality, and fundamental quality.
Our vision is…
We are stoked to reveal PrimeDAO’s brand-new visual identity!
Decentralized finance is constantly changing and evolving–so is PrimeDAO. Together with contributors from Kolektivo Labs, we created a soothing look that embodies Prime’s integrity ethos, a layout that asserts our commitment to enabling DAO2DAO innovations and building a hospitable environment for DeFi mass adoption. In this blog, we outline the changes to the Prime brand and the next steps in the evolution of PrimeDAO.
The fresh Prime logo and colors were selected to represent the innovative and collaborative nature of PrimeDAO.
The Symmetric, ribbon-like shapes evoke the biological process of mitosis…
PrimeDAO to Develop and Dogfood D2D
An era of DAOplomacy is coming! Over the course of the last six months, PrimeDAO has advanced the research and prototyping of DAO-to-DAO interactions (D2D) — in short, ways for DAOs to interact and negotiate with each other. Prime is pleased to present a complete prototype (Github) that demonstrates a minimal viable D2D mechanism using the Gnosis Conditional Tokens Framework. The framework itself is pretty complex, and would require an article of its own to review, but if you’re truly passionate about D2D, check it out!
To offer a very brief summary of the…
Today marks the launch of BAL x PRIME, the first DAO2DAO pool that tokenizes a collaborative relationship between Balancer and PrimeDAO. This blog outlines the potential of DAO2DAO pools to align cryptonetworks, introduces the Prime Pool Beta, and shows how to participate in BAL x PRIME — the first DAO2DAO pool (Spoiler: There is yield involved 🌱).
PrimeDAO is excited to launch the Prime DeFi pool on the dHEDGE decentralized asset management platform. The Prime DeFi pool is the first product powered by Prime Rating, a permissionless rating protocol incubated by PrimeDAO. On the day of rating (April 15th, 2021), the pool has attracted over $125K in value with a lifetime return of 21.96% since its soft launch on March 24th.
A huge thanks to the dHEDGEDAO and community for accepting Prime DeFi in the second dHEDGE DAO Open Call for Manager supporting the pool’s successful launch.
dHEDGE “democratizes investment and tears down the barriers for investors…
The Prime Rating squad is pleased to announce the Public Beta of Prime Rating, a permissionless and comprehensive framework for quantifying the quality and risk of Open Finance protocols.
The Decentralized Finance industry has seen exceptional growth in 2020, growing from a mere $1B to over $20B of total value locked in DeFi applications currently. The potential of a permissionless and composable financial system is becoming increasingly clear, but this fast growth trajectory also comes at a cost: high knowledge asymmetry, increasing complexity, and coordination friction…
PrimeDAO needs good governance! To align all DAO participants with Prime's long-term success, the DAO has come up with a locking mechanism that lets PRIME holders earn voting rights — also called Reputation (REP) — by voluntarily withdrawing PRIME from circulation.