PrimeDAO Members Receive 4K BAL to Revamp LBPs

In our first month since announcing Batch #2 of Balancer Ecosystem Fund grants, 19 different teams and individuals have made proposals to build projects or provide services that bring tangible value to the Balancer community.

The level of quality and potential impact of these proposals has been incredible.

As a quick community update, I’d like to mention one project that the Balancer Labs team is very excited about.

Six members of PrimeDAO have formed a team to propose an exciting overhaul of the Liquidity Bootstrapping Pool experience for running IDOs on Balancer — and we have approved a grant of 4,125 BAL (a little under $52K USD at the time of approval) to fund this project.

The project will include an open-source user interface that crypto projects can use to easily configure and launch a Balancer Smart Pool to conduct a decentralized token sale. It will also provide solutions that simplify the experience for participants looking to invest in tokens and more.

“Currently there is a gap in the Decentralized Exchange market, where it’s still hard to conduct a permissionless Initial DEX Offering. Projects are forced to use suboptimal and outdated solutions that lead to frustration for both developers and users. Liquidity Bootstrapping Pools (LBPs) are the most promising mechanism for initial token distribution in that they enable human price discovery, are permissionless and scalable. By disintermediating current barriers to LBP adoption we believe Balancer will be able to become the market leader in IDOs.”

Luuk Weber, PrimeDAO

We continue to receive, review, and provide feedback on new grant proposals. If you have an idea that would benefit the Balancer community and/or protocol, please read about the application process here and submit your proposal here.

If you would like to contribute to the ecosystem but don’t have a specific idea, join our Discord and let us know! There are an abundance of opportunities to build value together and to play an important role in this decentralized movement.