Prime Times #12 - Launch Edition! $D2D LBP is Live, Alliances with Gitcoin, OlympusDAO, BalancerDAO & DeFi Safety + More
An Special Edition of Our Newsletter
Welcome to Prime Times, which is usually a monthly primer covering the developments in and around PrimeDAO, but today is a special day. We are launching our $D2D token!
In this edition;
Prime $D2D Token Liquidity Boostraping is live from the 14th to the 17th of December in Prime Launch, own our decentralized launchpad.
The ultimate guide on how to participate in the$D2D LBP
Mutual Grant with Gitcoin to seed DAO to DAO coordination tools
Token Swaps with OlympusDAO to enable DeFi sovereignty
Balancer <> PrimeDAO cooperation and joint liquidity pool
Prime Rating and DeFi safety strengthen ties to develop our decentralized ratings platform further
Prime Network Token $D2D is out there!
What you need to know
Prime to run a Liquid Launch (LBP) via Prime Launch, Prime’s DAO launchpad powered by Balancer V2.
The Prime (D2D) Liquid Launch is happening now will be concluded on Dec 17, 2021, at 14:00 UTC.
Prime will be distributing up to 7% of the D2D token total supply with a starting price of 3.43 USDC.
D2D is the Network token of PrimeDAO. It plays a crucial role in managing the resources of PrimeDAO and stewarding the products and services of Prime as a Cryptonetwork. In our quest to create a collective identity, the $D2D token embodies our mission to connect the tissues of our value network — a distributed matrix of contributors, squads, products, and, further on, the entire DAO ecosystem. D2D holders hence receive exposure to the underlying value of Prime’s products, partnerships, and assets, as well as the ability to partake in governance around PrimeDAO.
PrimeDAO Explainer Video
PrimeDAO Partners with Gitcoin, OlympusDAO and strengthen ties with Balancer and DeFi Safety
As a collective of DeFi builders and DAOists building the next-generation Web3 coordination tools, PrimeDAO believes that for the DAO ecosystem to thrive, it takes a mesh ecosystem of co-ownership among DAOs.
While Prime is building D2D products and services, it paves the way for these interactions by dogfooding itself into a headless brand, an open value network that secures the future of DAOs all over the world. We, as an organization, want to establish PrimeDAO as a hub for DAOs to come together and co-build DAO toolings and services. We have seeded this vision in our culture by collaborating with DAOs across multiple phases of researching, designing, and developing our products.
As we move forward with our PRIME ($D2D) token launch, we want to signal our intent to make PrimeDAO a DAO co-habitation space by sharing ownership and securing long-term alignment with DAOs we will be closely working together.
Therefore, it is our great pleasure to announce our alliance with Gitcoin, OlympusDAO, BalancerDAO, and DeFi Safety. This how it will look like.
Gitcoin Mututal Grant
On December 13th, 2021, Prime and Gitcoin officially aligned their interests through a Mutual Grant Agreement. The agreement details are $250K worth of $GTC for 500k $D2D. This signifies a monumental shift in DAO2DAO (D2D) coordination and the tooling that we will build for it.
This partnership between Prime and Gitcoin is the first step for both DAOs to collaborate on building tools that will upgrade the coordination capabilities of Decentralized Autonomous Organizations — specifically D2D coordination.
Olympus DAO Token Swap
PrimeDAO will seed its partnership with OlympusDAO with an initial swap of $250k in OHM — in return for 500k Prime’s $D2D token. The partnership will enable both parties to coordinate in a more aligned and intimate setting, giving each other a concrete representation to voice our needs as we iterate on our products moving forward.
OHM wants to be the liquidity bridge/backend of the whole ecosystem. Olympus can utilize PrimeDAO as a coordination vehicle to call a DeFi alliance and strengthen the plasticity of ecosystem liquidity. By partnering with PrimeDAO, Olympus will be a leading voice in creating DAO2DAO products that enhance its offering and deal-making mechanics while supporting PrimeDAO’s push towards becoming a DAO co-habitation space.
Balancer DAO Agreement and Joint Liquidity Pool
PrimeDAO will support the development of the BalancerDAO and, where possible, share learnings and resources with BalancerDAO. In addition, BalancerDAO will get early access to Prime Deals, an interface for DAO to DAO interactions, such as token swaps co-liquidity provision, and joint venture formation, to give input to ensure the product serves the needs of BalancerDAO.
To align governance interests between the two DAOs, a co-liquidity pool is created after the D2D LBP with 25,000 BAL provided by BalancerDAO matched with an equal value in D2D by PrimeDAO. The pool will be owned equally by the two DAOs.
DeFi Safety <> Prime Rating
DeFi Safety, who has previously contributed to Prime Rating’s technical reports, is committed to intensifying the collaboration with PrimeDAO to make Prime Rating the most complete, reliable, and permissionless rating score of the leading Web 3.0 Protocols.
An overview of Prime Launch Platform
Prime Launch is a decentralized launchpad assisting Web3 project owners in launching their project tokens with minimal technical know-how. Prime Launch is going live with a 0% fee structure. We will always aim to keep the fees at a minimum and prioritize supporting the launch of high-potential projects that will uplift the ecosystem as a whole.
With all early-stage tokens, there are two major challenges:
Raising a seed raise.
Creating liquid secondary markets with fair price discovery.
Prime Launch addresses these concerns by providing two robust mechanisms for projects to launch their tokens. These mechanisms can either be used individually or complement each other through multiple token offerings.
Prime Launch is a powerful decentralized fundraising solution that supports matchmaking between project creators and token enthusiasts. Its cost-effectiveness, UX, and security offer many substantial benefits that previous initial coin offering platforms have traditionally failed to provide. Built from within the permissionless PrimeDAO ecosystem, Prime Launch provides a transparent and trusted platform for projects of varying scales to credibly kick-start innovations and decentralized autonomous organizations.
Get Primed!
We’ve never been more confident that DAO2DAO interactions will drive the future of crypto networks. It has never been a more exciting point to get involved in Prime and reshape DAO coordination.
If you are committed to enabling DAO 2 DAO innovation and are interested in collaborating with or getting involved in Prime, jump into our Discord now, and let’s get connected!
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