Hey Primers!
PrimeDAO is preparing to start its Initial Decentralized Offering (IDO), which begins today, November 16th at 15:00 GMT. The IDO will take place on a fork of Mesa: while the interface is the same in nearly all aspects as the original version of Mesa, there are some small adjustments made for optimization of the IDO. This post serves as a step-by-step guide for interested buyers to acquire PRIME and answers some popular questions relating to the adjusted Mesa interface and IDO mechanics.
In short:
The PRIME IDO starts today at 15:00 GMT and will end on November 30th
24M of the total 90M PRIME will be offered during the IDO
PRIME tokens will be distributed in 10 batches with different pricing at each batch
Prime can expect to raise up to 23.25M USDC
Why PrimeDAO?
PrimeDAO is a decentralized coordination engine for systemic advancement in Open Finance, also known as Decentralized Finance (or "DeFi"). DeFi is a new type of finance that is transparent and accessible to anybody around the world with access to the internet.
PrimeDAO is here to facilitate the wide adoption of Open Finance by coordinating and cultivating projects that promote safety, reliability, liquidity, and open access, while avoiding centralized appropriation of critical financial infrastructure through decentralized governance. But, how?
1⃣Prime Router: DAO governed DEX Aggregator
2⃣Prime Rating: a permissionless framework for quantifying risk and quality of open finance protocols
3⃣ Prime Pool: DAO managed and operated Balancer Smart Pools
4⃣ DAO2DAO: an interface that supports interactions between multiple DAOs, allowing them to have mutual exposure, governance, and incentive schemes vis-a-vis each other.
The Initial Decentralized Offering (IDO) is Live Today!
The IDO will occur in coordination with the launch of the PRIME router and liquidity pool, which will mark the beginning of PrimeDAO’s governance token distribution. 24M of the total 90M PRIME tokens will be in circulation at launch and will be used to encourage participation in the PrimeDAO ecosystem through locking and staking mechanisms further described here.
See details about how to use Mesa and participate in the IDO here.
Any PRIME tokens that are not sold at the end of the IDO, as well as the offering’s proceeds, will be transferred to a Gnosis Safe multi-signature wallet, as delegated by the PrimeDAO in this proposal.
$MEME Announces a Featured NFT Drop With PrimeDAO
In preparation of the IDO, PrimeDAO partnered with $MEME this past Thursday to feature a staking pool with exclusive PrimeDAO-themed NFTs. Lock up to 5 $MEME tokens in the new PrimeDAO pool. Once you earn enough points, you can mint brand-new, exclusive MEME x PRIME NFTs.
The full NFT collection can be found here.
Open Proposals
Francis Daniel - Request to join as an ecosystem contributor
Francis Daniel - Articles for PrimeDAO in 6 different blogs
Ruben (Token engineering commons) - Ambassador organization proposal
Dani Bellavita(Token engineering commons) - Ambassador organization proposal(2)
Recent Releases
[VIDEO]Mesa IDO Tutorial
The Prime Initial Decentralized Offering - How to use Mesa
Reputation in Growth - Governing the Engine for Sustainable Open Finance
Learn more about today’s IDO!
To learn more about PrimeDAO’s IDO taking place right now, check out this free resource to get started with Mesa and more!
See details about how to use Mesa and participate in the IDO here.
Join Us!
Go to Prime’s xDAI DAO ➡ Prime Incubation on Alchemy or Contributor Onboarding