Prime (D2D) Liquid Launch LBP

Starting on December 14th on Prime Launch

PrimeDAO
PrimeDAO
Dec 10, 2021 · 5 min read

PrimeDAO to launch Prime (D2D), its network token, via Prime Launch.

Here’s the TL;DR

  • Prime to run a Liquid Launch (LBP) via Prime Launch, Prime’s DAO launchpad powered by Balancer V2.
  • The Prime (D2D) Liquid Launch will be held on Dec 14, 2021, at 14:00 UTC and will be active for 3 days, concluding on Dec 17, 2021, at 14:00 UTC.
  • Prime will be distributing up to 7% of the D2D token total supply with a starting price of 3.43 USDC.

PrimeDAO

PrimeDAO is a D2D builders hub offering Collaboration-as-a-Service.

Prime’s DAO to DAO relations (D2D) reduce the costs of cross-dao interaction by creating a polycentric framework for network governance, mutual skin in the game, and communication between these nascent digital organizations.

The Prime product suite covers a wide range of collaborative tools that provide value to DAOs across their full development cycle.

A visualization of a DAO’s life-cycle as it engages and grows with Prime

By being a well-resourced network, Prime DAO is attracting many builder groups across the DAO ecosystem to co-build products that will ease the coordination of DAO to DAO relations. Prime can iterate on DAO product ideas fast and develop them inside the network until a sense of product-market-fit has been achieved. Once a project finds its purpose, it can use the Prime network (brand, comms, legal, funds) and tools (launch, pools, deals) to scale and accelerate a product or service. This greatly improves the DAO product-life cycle by lowering early risks and reducing scaling costs.

Prime aims to expand on the formation of Ownership Networks by involving partnered DAOs to co-govern and co-own products or services built within the Prime DAO ecosystem, creating pathways for Prime products to grow beyond the potential of the Prime network alone.

The launch of $D2D is the next step in Prime’s development towards a headless brand; an open value network that builds effective organizational coordination tools to secure the collective future of DAOs all over the world.

Prime $D2D Network

PrimeDAO was first conceived in Q2 2020 by a network of DeFi and DAO builders, with the first Mainnet iteration of PrimeDAO launching in December 2020 on DAOstacks’s alchemy. During its first year of existence, PrimeDAO contributors crowdfunded approx. $700K and coordinated internally through the early, currently inactive, PrimeDAO Token and the internal Prime Reputation system.

After 4 Prime Development Cycles of exploration and iteration of contributors and products, the D2D vision for PrimeDAO became clear, starting the next cycle in PrimeDAOs evolution with the Prime Rebrand and the call for Seed Contributors. The next step in this evolution is the public launch of D2D.

Breakdown of the Prime (D2D) token distribution.

D2D is the Network token of PrimeDAO. It plays a crucial role in managing the resources of PrimeDAO and stewarding the products and services of Prime as a Cryptonetwork. In our quest to create a collective identity, D2D token embodies our mission to connect the tissues of our value network — a distributed matrix of contributors, squads, products, and further on the entire DAO ecosystem. D2D holders hence receive exposure to the underlying value of Prime’s products, partnerships, and assets as well as the ability to partake in governance around PrimeDAO.

Visualization of a possible way value and control may flow in Prime Launch as the product matures

Launching D2D via Prime Launch

Prime Launch is the decentralized launchpad developed by PrimeDAO assisting Web3 project owners to launch their project tokens with minimal technical know-how. Prime Launch provides two robust mechanisms for projects to launch their tokens. Prime will use the Liquid Launch method that leverages the Balancer Protocol v2.0’s liquidity bootstrapping pool mechanism to expand the control and resources of the Prime network and bootstrap liquidity for the D2D token.

Liquidity Boostrapping Pools (LBPs) are adjustable Balancer pools used to bootstrap initial liquidity for a token and the initial price discovery of new assets. LBPs are liquidity pools that change weights over time. As the weights change they created selling pressure on the project token, leading to the price of a project token to drop if there is no buying pressure.

The pool weights are initially in favor of D2D (96%) and will gradually move to an equilibrium where D2D is 50% of the pool. The linear step-down creates constant downward pressure on the price, which tends to balance the upward buy pressure, ideally keeping the price oscillating around perceived market value. This relatively stable price discourages arbitrage bot manipulation as they can’t count on the price steadily going up.

To understand more about what an LBP is, please check this detailed Balancer Medium article.

Prime (D2D) Liquid Launch Details

All proceeds of the D2D Liquid Launch will be transferred to PrimeDAO’s Treasury — after which the DAO will spin up two main liquidity pools; 80% D2D / 20% WETH and 50% D2D / 50% BAL with its treasury assets.

The Prime (D2D) Liquid Launch will be hosted on Prime Launch and start on Dec 14, 2021 at 14:00 UTC and will be active for 3 days, concluding on Dec 17,2021 at 17:00.

Prime (D2D) Address: 0x43D4A3cd90ddD2F8f4f693170C9c8098163502ad

Prime will be distributing up to 7,000,000 D2D Tokens, equaling 7% of the 100M token total supply of D2D. The Launch pool will be bootstrapped with 1M USDC to match the D2D tokens in the pool.

The LBP will start at a pool weight of D2D : USDC = 96 : 4 and will gradually shift on a linear step-down to D2D : USDC = 50 : 50 over the 3-day period, creating downward pressure on the price.

Get Primed!

We’ve never been more confident that DAO2DAO interactions will drive the future of crypto networks. It has never been a more exciting point to get involved in Prime and reshape DAO coordination.

If you are committed to enabling DAO 2 DAO innovation and are interested in collaborating with or getting involved in Prime, jump into our Discord now, and let’s get connected!

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