Prime Times #13 - $VSTA LBE Starts today! Prime Launch deployed on Arbitrum, Prime Rating Season two - over 9k in Prizes, D2D: Proposal Inverter
Welcome to Prime Times, a monthly primer covering the developments in and around PrimeDAO
In this edition;
$VSTA is launching today on Arbitrum network using Prime Launch. The Treasury bootstrapping event (TBE) will last for three days
Prime Rating Season Two is happening from January 31st and will last for four weeks
D2D Updates: A multiDAO initiative to Dogfood the Proposal Inverter Mechanism
Olympus-incubated Vesta Finance to Launch today using Prime Launch!
Vesta is conducting a treasury bootstrapping event (TBE) distributing 8% of all the $VSTA governance token via liquidity bootstrapping pool (LBP) on Prime Launch. Liquidity generated in this event will be owned by the community and directed to bolstering the adoption of Vesta’s stablecoin once it goes live through the acquisition of governance tokens, partnerships, and supporting Vesta’s growing team of core contributors.
Prime Launch is currently the only no-code launchpad that enables launching a token on the Arbitrum network. The optimistic rollup is now leading the L2 market with over US$2.64 billion locked in, according to L2 Beat.
We’re super excited that an essential utility in the DeFi space has chosen Prime for its important treasury bootstrapping event, and we’re even more excited to be working with our partners, OlympusDAO, on ensuring Vesta’s success.
How to get involved with the Vesta Liquid Launch
Participate in the Vesta treasury bootstrapping event here on Prime Launch. The Vesta Launch will appear when we finalize the details of the launch with the Vesta team 💪
Sign up here for the upcoming Olympus-Vesta AMA in the Olympus Discord!
If you need extra support, here’s is a guide on how to participate in an LBP
Prime Rating Season Two is here!
Prime Rating is a Rate-to-Earn, gamified approach for evaluating DeFi projects and promoting transparency in the open finance Web3 ecosystem
The contest starts on January 31st, 10:00 am (UTC) until March 7th, 22:00 (UTC)
Raters can choose the projects listed for submission here
Here you can find the report templates used to evaluate projects. Choose between Fundamental or a Smart Contract (technical) rating
Join the movement through Discord and participate in the rating contest to be eligible to win prizes (9000 USDC + 10500 D2D in total)
Prime Rating, the permissionless framework for evaluating the quality and risk of DeFi protocols, is kicking off the new year with a new Rating Season. Prime Rating Season two will go live on January 31st, 2022 will last for four weeks. We invite everyone interested in token research and DeFi analysis to participate in the contest by submitting rating reports. Check out the list of projects and sign up in the sheet here.
All successfully submitted reviews earn a minimum of 150 USDC + 200 D2D tokens and are eligible to win both quality (for the best reports) and quantity (most reports written) prizes at the end of the competition, totaling 9k USDC and 10.5k PRIME tokens (D2D). All participants can also get feedback and tips from experienced raters, earn POAP badges and earn Rating Experience Points (RXP) which increase future rewards and governance voting power. Moreover, reports submitted in the first week of the competition earn a 20% bonus reward in both USDC and D2D, and those submitted in the second week earn a 10% bonus reward.
Once reviewed and accepted via governance vote, reports are uploaded to the Prime Rating website, where they are available for both individual and institutional users.
For the first time, raters will also be invited to weekly DeFi coaching events to connect with the community and further hone their rating skills. Coaching events will be led by Prime Rating’s experienced raters.
DAO2DAO in action: Dogfooding the Proposal Inverter
A joint effort has been underway towards the development of the proposal inverter. Block Science, Longtail Financial, TEC, and PrimeDAO have all contributed resources and talent towards the spec and modeling of the PI. A development series was hosted in the TEC labs, which transformed into a workshop series hosted by PrimeDAO. LTF has been contributing developers, Blockscience produced the initial mathematical spec and model, and PrimeDAO has been pouring gasoline on the fire since the beginning by producing articles and other promotional materials around the impact of the proposal inverter.
It’s now time to put the proposal inverter to the test by ‘dogfooding’ the model. Dogfooding is a common term in software engineering and product development that means that a product is good enough for its creators to use it. It extends from the idea of a dogfood company eating the food themselves or feeding it to their dogs. In this case, we want the creators of the proposal inverter to be the initial users of the proposal inverter.
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!