Prime Times #2 - Prime Rating Beta goes live, DAO2DAO models, and Balancer IDO Interface

Bi-weekly news about PrimeDAO

Welcome to Prime Times, a bi-weekly primer covering the developments in and around PrimeDAO.

In this edition; 

Before we kick-off, I hope you had a good holiday celebration and start of the year. After an intense sprint of almost 4 months, most of the Prime builders were drained and really needed a short break to reflect and recharge, for this reason, the #1 builder cycle was extended to January 18th to allow all teams to finish their deliverables on time, and we didn’t share a Prime Times newsletter 2 weeks ago.

To make up for it - here’s a packed edition with exciting announcements and relevant readings. 2021 will be a gamechanger for DeFi and PRIME, so buckle-up!

Prime Rating launches public Beta

After weeks of hard work, the Prime Rating squad is excited to open up the Beta version of Prime Rating to the community.

Prime Rating is a permissionless and comprehensive framework for quantifying the quality and risk of open finance protocols. Prime Rating offers a simple and comparable opinion in the form of a letter rating on a scale from A+ to D that represents the overall quality of an open finance protocol from a neutral view, based on publicly available data.

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, to educate end-users about the functionalities and associated risks, and to create a benchmark for an open financial system that is permissionless, trustless, and transparent while respecting user sovereignty.

V.1 of Prime Rating evaluates protocols from the perspective of a protocol token holder based on smart contract quality, data quality, and fundamental quality.

👉 Join the group of Beta Prime Raters on Discord.

PrimeDAO to create Balancer IDO interface

PrimeDAO and Balancer partner to create an IDO interface using Balancer Smart Pools. This IDO interface will radically simplify the process of hosting, governing, and participating in a decentralized offering through the Balancer Protocol.

PrimeDAO has received a grant of 4.125K BAL tokens to fund and build the IDO interface. Currently, 8 PrimeDAO members from Curve Labs and Kolektivo Labs are working on the project which is projected to go live at the end of the #3 development cycle of PrimeDAO.

New PRIME Swag drops ft Metafactory

At the end of 2020, we dropped the first exclusive PRIME merch together with MetaFactory. The Prime Sweatshirt is a cozy, prime quality pullover that holds you warm and attracts all the bots. Holding one might just earn you some #PRIME and #ROBOT in the future!

Get your Warm with Prime Sweater here!

Conceptual Models for DAO2DAO Relations

The DAO2DAO squad, led by members from BlockScience, Curve Labs, and Token Kitchen have recently published their research digest from the #1 PrimeDAO development cycle.

In this digest, we identify background concepts and areas of applied research that are relevant to the dynamics that will be prevalent in a nascent ecosystem where DAOs have to interact or collaborate with each other. The research presented thus far, along with the community report & related literature review produced by Curve Labs, is the result of the first cycle of this collaboration, and lays out the foundation for more rigorous analysis in subsequent PrimeDAO work cycles.

Read the Report here!

Join PrimeDAO!

PrimeDAO cultivates a competent and well-funded builder community and establishes coordination mechanisms that sustain ongoing operations to become a much-needed DeFi Schelling point. The DAO’s goal is to produce and maintain a community-owned set of products and services everyone can access and benefit from — both early and mass adopters.

If you are an individual or organization who wants to join PrimeDAO in its mission to move open finance forward in a safe and inclusive fashion, join us on Discord or read the Contributor Onboarding.

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