PrimeDAO secures $2M from top DAO contributors

PrimeDAO
PrimeDAO
Sep 15 · 2 min read

The completion of the seed round is set to fuel the next cycle of growth for PrimeDAOs and bring the first set of DAO2DAO services to market.

A big milestone for DAO to DAO innovation — PrimeDAO is thrilled to close a seed round in which it raised $2 million from top DAO backers, including LD Capital, Stratos, TokenInsight, Signum capital, Stacker ventures, Senary Ventures, Atka Capital, ID Theory, SMAPE Capital, XeO4, Meld ventures, Faculty Group.

Some top DAO contributors have also joined PrimeDAO to accelerate DAO to DAO innovation, including Fernando Martinelli, CEO of Balancer Labs, Griff Green, a true DAO legend, and Nima Asghari, experienced DAO contributor.

“With a very talented team, PrimeDAO offers an exciting coordination mechanism for new tools for DAOs in DeFi and beyond to emerge. PrimeDAO has been an active participant in Balancer Protocol, and I’m stoked to strengthen even more our ties!”

- Fernando Martinelli, Co-Founder & CEO Balancer Labs

The PrimeDAO collective of DeFi builders and DAOists focuses on researching and building next-generation coordination tools for decentralized finance. Started in Q4 2020, PrimeDAO has seen steady growth and the completion of this round is another big milestone in the DAOs journey towards maturity.

“DAOs as open-value networks enable exciting new forms of coordination that combined with the financial services offered by DeFi enable an organization environment that is truly permissionless, global, and interoperable. Allowing for DAOs to do business together and align incentives is an important step in improving coordination effectiveness,” says Luuk Weber, strategic lead of PrimeDAO and founder of Kolektivo Labs, one of the core teams of PrimeDAO.

“Having experienced PrimeDAOs growth from a curios group to now having over 15 dedicated contributors once again shows the immense potential DAOs have to improve coordination. I’m also impressed by the speed at which the DAO has been able to iterate, which I believe is due to the Prime Development Cycles approach”.

The collected funds will be managed by PrimeDAO, using their custom governance solution that enables Reputation-based to ensure educated and value-aligned governors, and allocated to further developing the PrimeDAOs service offering providing value to DAOs from initiation to maturity. The first features of the app will be live in the coming weeks.

  • Launch: Decentralized token launches powered by Balancer V2.0 LBPs
  • Pools: DAO governed liquidity pools and indexes
  • Rating: Permissionless ratings of digital asset risk and quality
  • Deals: Interface for DAO to DAO interactions, including Token Swaps and Joint ventures

PrimeDAO is an ever-growing network of DeFi builders working together under the Prime umbrella. If you or a DAO you participate in wants to collaborate with PrimeDAO hop into our Discord channel and let’s make it happen!

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