Prime Times #8 - Prime Launch Update, Rate-athon Summary, PrimeDAO at The DAOist, D2D Community updates
Monthly Newsletter
Welcome to Prime Times, a monthly primer covering the developments in and around PrimeDAO.
In this edition;
PrimeDAO at the DAOist Event: The evolution of PrimeDAO – A technical perspective; DAOs as engines of productivity; DAO2DAO innovation and leadership workshop.
DeFi Rate-athon: 23 participants, 33 reports on 26 different projects. 11,400 USDC and 14,200 PRIME in Prizes
Our IDO platform Prime Launch has entered the testing phase!
Prime Rating & DAO2DAO Community Updates
Tales From Decentralized Governance
PrimeDAO is honored to support and sponsor the ETHcc side event The DAOist. Hosted by Kolektivo labs, the event captivated hundreds of DAOists from many DAOs, including Gnosis, Metafactory/cartel, boardroom, DaoHAUS, Ceramic, and TEC.
Some of our stewards and contributors spoke at the conference. You can check the talks here:
The evolution of PrimeDAO with Arseny Akinfiev
PrimeDAO: DAOs as engines of productivity - Renç Korzay
D2D Innovation & Decentralized Leadership Workshop with Luuk Weber
In the cozy airplane room at The DAOist, our strategic lead of PrimeDAO Luuk Weber shared a workshop on the future of DAO to DAO coordination and DAO leadership.
Fair Launch: We are almost there
We are thrilled to announce that Prime launch, our decentralized token launch platform, is now in the testing phase. After passing the contracts through an audit, we are gathering user feedback, and the team will be looking forward to having a sprint to resolve those.
What is Prime Launch:
Prime Launch allows projects to launch their token effectively and fairly. Web3 projects aiming to launch a token will be verified by a permissionless curation method, similar to Prime Rating, to ensure only top-quality projects are listed. Therefore, every launch provides clarity to contributors about the project and terms. The combination of equal access to information and contribution terms creates a truly fair launch.
There are two methods for hosting a Prime Launch:
🌱 Seed launch allow early-stage projects to host a launch without needing to pre-allocate any resources and with the ability to select which contributors can participate. It allows the creation of pre-defined rules, such as lock-ups, that are the same for all contributors.
🌊 Liquidity launch leverages the Balancer V2 infrastructure. It uses a novel token distribution mechanism, the Liquidity Bootstrapping Pool, to disincentive large contributors from buying all tokens in one go and to punish bots, leading to more fair and accessible distribution.
Another benefit of Liquid Launches is Balancer's rewards protocol: users receive BAL tokens to make up for any transaction costs. This means that up to 90% of your transaction costs when participating in Liquid Launches will be reimbursed in the form of BAL tokens.
The First-ever DeFi Rating Competition
The Rate-athon was a success! The competition was an initiative to kick-off an updated rating database for the upcoming Prime Rating v2. With 23 participants who have overall submitted 33 fundamental reports on 26 different projects.
All reports were reviewed by three Prime stewards, who also provided feedback to participants in our discord group. The average quality of the reports was high-grade, and the jury rejected only a few reports. Best quality reports were discussed and chosen according to a quality check scoreboard.
Participants who did not win in the two main categories received 150 $USDC & 200 $PRIME per the report passed. Participants who couldn’t pass reports or would like to keep submitting fundamental reviews can do so via Prime Rating DAO in Alchemy and earn 125xDAI + 10 PRT per successful submission. Everyone is invited to collaborate with Prime Rating by submitting reports and participating in the community calls.
Community Updates
Prime Rating
After the busy period around ETHcc and DAOist, the Prime Rating squad is back with Community Calls, switched to Mondays at 16:00 CEST. There’s been a discussion on creating specific reports structures for stablecoins, NFT/Gaming Projects, and tokens, and couple of our community members have taken the initiative on it.
DAO2DAO
A few weeks ago Governauts community, through this Twitter thread, proposed a D2D research collaboration with primeDAO. This led to a meeting last week with some of Prime Community members. We brainstormed potential topics for the research cycle cooking for October with Token Engineering Commons, Commons Stack, Kolektivo, and Curve Labs. We also spoke about the mutual wish to form & send PrimeDAO squad in this research.
About PrimeDAO
Our mission is to facilitate the broad adoption of open finance by coordinating and cultivating protocols, DAOs, and DAO2DAO relations that promote reliability, liquidity, collaboration, and extensive access. We’re excited to continue to build next-generation coordination tools for decentralized finance and help steer DeFi towards a synergistic ecosystem.
If you or a DAO you participate in wants to collaborate with PrimeDAO or launch a DAO2DAO — hop into our Discord channel and let’s make it happen!
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