OlympusDAO and PrimeDAO to seed partnership with a Token Swap

Setting the stage for long term co-development between communities

Background

For resilience to emerge into complex systems, variation must be attenuated by variation. A diverse control network discovers and resolves faster unforeseen challenges and expands the horizon for collective creativity.

When we apply this to cryptonetworks, groups with multiple ownership rights have multiple operational and liquidity resources, increasing their chance not only to survive but also to scale effectively. Moreover, when networks possess multiple, overlapping forms of ownership, communities stop viewing project-specific problems in isolation. These co-ownership structures facilitated by novel DAO to DAO mechanisms can enable web3 to become a more cooperative game.

As a collective of DeFi builders and DAOists building the next-generation Web3 coordination tools, PrimeDAO believes that for the DAO ecosystem to thrive, it takes a mesh ecosystem of co-ownership among DAOs.

While Prime is building D2D products and services, it paves the way for these interactions by dogfooding itself into a headless brand, an open value network that secures the future of DAOs all over the world. We, as an organization, want to establish PrimeDAO as a hub for DAOs to come together and co-build DAO toolings and services. We have seeded this vision in our culture by collaborating with DAOs across multiple phases of researching, designing, and developing our products.

As we move forward with our PRIME ($D2D) token launch, we want to signal our intent to make PrimeDAO a DAO co-habitation space by sharing ownership and securing long-term alignment with DAOs we will be closely working together.

Therefore, it is our great pleasure to inform our community that the first of these partnership proposals, with OlympusDAO, have been approved in Olympus and Prime governance!

OlympusDAO <> PrimeDAO Partnership Motivation

PrimeDAO will seed its partnership with OlympusDAO with an initial swap of $250k in OHM — in return for 500k Prime’s $D2D token.

OlympusDAO is one of the DAOs we have been in close contact with, as we integrated some of the Olympus DAO contributors’ valuable feedback into our process for researching and designing Prime Deals.

During these interactions, we have come to realize an exceptional alignment between Olympus and PrimeDAO: PrimeDAO’s product suite offers collaboration as service, and Olympus offers service as collaboration in its quest to evolve into an ecosystem-wide behemoth for advanced treasury management. In theory, there is no limit on how many DAOs can be integrated into Olympus’ D2D partnerships which span incubation, co-liquidity provision, OlympusPRO, token swaps, and many more to come. However, there is a limit to how many partnership pipelines the Olympus team can handle. PrimeDAO helps Olympus to scale its operational capacity by making the whole experience of negotiating and venturing with other DAOs a lot more efficient in multiple layers. On PrimeDAO’s side, partnering with Olympus would allow PrimeDAO to onboard the DAOs in Olympus’ ally network into its services.

Olympus receiving $D2D tokens will allow it to have a say over Prime’s governance from day one. It will also enable us to coordinate in a more aligned and intimate setting, giving each other a concrete representation to voice our needs as we iterate on our products moving forward.

There are a large number of collaboration points with Olympus as we roll out — including:

Olympus <> Prime Deals

• Have Olympus participate in the testing phase of token swap on Prime Deals, and if both parties agree, onboard Olympus on to Prime Deals for their future token swaps.
• Create an open deal template customized for negotiating the Olympus Pro applications.
• Work with Olympus to integrate a sorting mechanism that allows for sorting the Pro applications based on a set of parameters.
• Enable $OHM holders to signal their preference over the Pro applicants whitelisted by Olympus.

Olympus <> Prime Launch

• Enable $OHM/$gOHM into shortcut assets for DAOs to choose which asset to raise funds with.
• Onboard Olympus into Prime Launch’s seed module, whereby Launch facilitates the transactions with the incubated partners.
• Onboard Olympus and their incubated projects to Prime Launch for launching their projects.
• Synchronize Prime Launch’s selection process of onboarding DAOs into the seed module with applying to Olympus’ Incubation program as sequential phases of building up to the launch.

Olympus <> Proposal Inverter

• Work with the Olympus team to integrate Tyche with Proposal Inverter so that the Olympus community can coordinate around which initiatives to direct fundings to
• Enable a novel method of funding public goods for the Olympus community and benefit from potential retroactive airdrops.

Support Building up to the Prime Token Launch

• Introduction to the Olympus Community
• Advice and assistance when needed from the Olympus team

Bootstrapping Liquidity for D2D

• Use of Olympus’ upcoming liquidity products to bootstrap our initial liquidity.
• Use of Olympus Pro to be able to own our liquidity.

Onboarding $OHM into the Balancer Ecosystem

• As a partner of both BalancerDAO and OlympusDAO, PrimeDAO will play an active role in bridging liquidity between the two protocols.
• Building a deep liquidity between D2D <> OHM <> BAL to allow LBPs to be able to select OHM as an efficient bootstrap asset and open up additional LaaS opportunities.

The Road Ahead

Our partnership will set the stage for a strong collaboration between Olympus and Prime as we work towards becoming the primary coordination stream for DAOs. OHM wants to be the liquidity bridge/backend of the whole ecosystem. Olympus can utilize PrimeDAO as a coordination vehicle in calling a DeFi alliance and to strengthen the plasticity of ecosystem liquidity. By partnering with PrimeDAO, Olympus will be a leading voice in the creation of DAO2DAO products that enhance its offering and deal making mechanics, while supporting PrimeDAO’s push towards becoming a DAO co-habitation space.