The Mainnet PrimeDAO rises
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It’s here! The Mainnet PrimeDAO has launched, marking the start of the Growth stage of PrimeDAO’s evolution towards maturity.
In this stage, PrimeDAO utilizes the Alchemy platform by DAOstack for protocol governance and resource allocation. To learn more about the process by which the DAO’s membership, largely made up of token holders, ambassadors, and contributors, are rewarded with Reputation or PRIME in exchange for their skin in the game, good governance, or contributions made read our blog about Reputation in Growth.
Current Objectives of PrimeDAO from the Litepaper
(1) to mature PrimeDAO by expanding its suite of products, achieving much-needed economic sustainability
(2) designing and improving Decentralized Governance and Operations specific to the needs and requirements of PrimeDAO
Builder Cycle #1
PrimeDAO organizes its development in Builder Cycles (similar to design/developments sprints), periods of 4–8 weeks where different groups propose and execute work in synergy. The main advantage of this rhythmic process is streamlining attention: if the collective is aligned in its virtuous, value-creating cycles, it can achieve optimal levels of efficiency, transparency, and co-accountability.
10 builder proposals for Cycle #1 have passed in the xDAI DAO and are ready to get funded on Mainnet. Based on these proposals, PrimeDAO is set out to allocate ~85K USDC and 97K PRIME tokens in the first builder cycle (6 weeks) towards the realization of PrimeDAO’s vision.
Active Squads
With the start of the first builder cycle, the first Prime squads have been deployed to manifest PrimeDAO’s vision. In total, 20 PrimeDAO members are part of a squad and are being funded to build!
Comms Squad (4): In charge of all communication efforts
Strategic council (5): Tasked with the development of strategic and tactical plans
Prime Rating Squad(5): Developing Prime Rating
Curve Labs(5): Building and improving Prime Pool and PrimeDAO locking interfaces
BlockScience(3): Researching and developing DAO2DAO tooling
Rivet(3): Providing Ethereum node connectivity and infra to PrimeDAO
PrimeDAO
PrimeDAO cultivates a competent and well-funded builder community and establishes coordination mechanisms that sustain ongoing operations to become a much-needed DeFi Schelling point. The DAO’s goal is to produce and maintain a community-owned set of products and services everyone can access and benefit from — both early and mass adopters.
If you are an individual or organization who wants to join PrimeDAO in its mission to move open finance forward in a safe and inclusive fashion, join us on Discord or read the Contributor Onboarding.
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