Another week of exciting PrimeDAO developments and updates. The excitement in the community is growing as PrimeDAO ramps up for the launch of the Mainnet DAO and the kick-off of the first Builder Cycle.
📈 PRIME IDO Update
The first PRIME IDO started on November 16th and will continue until November 30th. During this IDO, up to 24M PRIME tokens (26,7% of the total supply) are made available to the public.
After 10 days of the IDO being live, the stats are as follows:
1.65M PRIME Tokens distributed through our IDO Interface
360K Liquidity in the PRIME/ETH Balancer Pool
85% of the BPRIME tokens locked in the Prime Staking Pool.
Current IDO Batch Price = 0.50 USDC per PRIME
Current PRIME price on Balancer = 0.20 USDC per PRIME
The PRIME IDO liquidity on Mesa will be available until Monday, November 30th
🌊PRIME Liquidity Mining
To further incentivize liquidity for the PRIME token and to reward the early ecosystem supporters, we’ve launched PRIME Liquidity Mining campaign for all liquidity providers of the PRIME pool on Balancer. Over 300K value has already been locked into the Prime Liquidity Mining Program. The current APY for liquidity providers is 325%!
Liquidity Mining details:
Start: Friday, November 20th
Duration: 1 month
Rewards: 16.7K PRIME tokens per day distributed to BPRIME stakers
Stake and get BPRIME here!
🔄PrimeDAO Development Cycle - Prime’s next steps
With the conclusion of the PRIME IDO PrimeDAO will transition to the Growth Stage, the second stage of PrimeDAO’s evolution towards Maturity.
The Growth Phase
”In this phase, PrimeDAO should develop several tactical governable primitives for itself. Development of the primitives will be matched by the DAO’s governance to an ecosystem of development teams according to their strengths and capabilities, with a designated team dynamically maintaining and reporting on a holistic ecosystem roadmap to all DAO stakeholders.
This Growth phase is projected to start in Q4 2020 with the deployment and launch of PrimeDAO governance and resource allocation. The PrimeDAO will utilize the Alchemy platform by DAOstack at the beginning of this phase.
During this phase, the dual primary objectives are (1) to mature PrimeDAO by expanding its suite of products, achieving much-needed economic sustainability, and (2) designing and improving Decentralized Governance and Operations specific to the needs and requirements of PrimeDAO.”
Source: PrimeDAO Litepaper
PrimeDAO organizes its development in Builder Cycles (similar to design/developments sprints), periods of 4-8 weeks where different groups propose and execute work in synergy. The main advantage of this rhythmic process is streamlining attention: if the collective is aligned in its virtuous, value-creating cycles, it can achieve optimal levels of efficiency, transparency, and co-accountability. Over time, the DAO should adapt these cycles to best represent its organic processes and rhythms that emerge.
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, come to say hi in our Discord.
[VIDEO] - Mesa IDO Tutorial
The Prime Initial Decentralized Offering - How to use Mesa