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Symmetric 🤝 PrimeDAO: Working Together to Accelerate the DAO Ecosystem on Gnosis Chain and Celo

Launching a DAO, a token, and accessing liquidity on the premier DEX for the Celo and Gnosis ecosystems just got easier.

The TL;DR

On March 9th at 2:00PM UTC, the proposal on a partnership agreement between PrimeDAO and Symmetric passed.

This means that PrimeDAO and Symmetric will execute a token swap of 12,000 SYMM at $5 per token, with 120,000 D2D at $0.5 per token to signify the beginning of a relationship that involves launching Symmetric V2.0 on Celo and Gnosis, working together to create a launch program for the top DAOs in both ecosystems, and deeply embed both partners within the growing Celo and Gnosis Chain ecosystems. This will bring Prime Launch’s fair launch capabilities built on Balancer v2 liquidity bootstrapping pools, accelerating the growth of DAOs in web3.

Why are we doing this?

Our two organizations have been working together since the latter half of last year when the PrimeDAO team working on Kolektivo was exploring a way to bring Balancer V2.0 onto Celo, and ran into Symmetric in the course of their research. We realized we wanted to cooperate with Symmetric instead of building competing products, and the seeds of this partnership were planted.

At Prime, we’ve also been deeply aligned with BalancerDAO, and saw an opportunity to bring Balancer’s Friendly Fork model into practice with Symmetric. With this partnership, we’ve helped seed the conversations that will hopefully result in official recognition from the BalancerDAO for Symmetric as a Friendly Fork on Celo and Gnosis Chain.

This will help Prime Launch accelerate the DAO ecosystem on Celo and Gnosis, and bring transparency to the existing DAOs and protocols with Prime Rating later this year.

Agreement Summary

We’ve both agreed to the following to cement our partnership:

Integration — Product and Marketing
Prime and Symmetric will launch Symmetric V2.0 on Celo and Gnosis Chain, Prime Launch will deploy on Symmetric on the Celo Network, and Prime Rating will expand its capabilities into the Celo Ecosystem.

Furthermore, we’ll work together to design a comprehensive launch program for the top projects in Celo, providing teams with launch support on Prime Launch, and post-launch rewards to maintain liquidity on Symmetric.

We’ll sweeten this deal by bringing the full force of our marketing teams together to co-market product launches, partnerships, and the Celo Launch program. This is going to be huuuuuge 🚀

Token Swap
To align governance interests, a Token Swap between our two organizations has also passed. 12,000 SYMM from the Symmetric Risk Fund valued at $5 per token will be swapped for 120,000 D2D from the Prime Treasury valued at $0.5 per token. In addition PrimeDAO is going to market-buy at least 5,000 SYMM tokens within the next 60 days to further cement our alignment.

Get Primed!

We’ve never been more confident that DAO2DAO interactions will drive the future of crypto networks — we think the best way to bring this future into being is to build it.

If that interests you, there’s 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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