PrimeDAO Partnership

Summary

This proposal, if passed, would grant Gitcoin $250K USD worth of PrimeDAO's $D2D governance token at a price of $0.50 per token for a total of 500K $D2D coins, equating to 0.5% of Prime DAO treasury.

The purpose of this alliance is to help ensure that Gitcoin and Prime can work together to build tooling for DAO2DAO coordination.

Abstract

PrimeDAO is a collective of Web3 builders and DAOists dedicated to researching and building next-generation coordination tools for the Web3 ecosystem. PrimeDAO is working on a product suite which aims to provide collaboration-as-a-service, which include:

Prime Launch: A decentralized and curated token offering platform powered by Balancer V 2.0 that enables fair and user-friendly token launches. Projects can host a whitelisted seed sale to collect contributions at a fixed price, or conduct a liquid Launch without needing to write a single code.

Prime Deals: A platform for DAO to DAO interactions, where DAOs can propose, negotiate, and execute deals together. It is built on top of a modularised open-source framework of smart contracts with various interfaces that can easily be extended and adapted to any use case. The first supported interaction will be token swaps, followed by joint ventures, co-liquidity pooling, and co-farming that are facilitated by PrimeDAO’s agnostic, trustless, and flexible D2D contracts.

Proposal Inverter: A new funding receiver primitive that will allow DAOs to pool resources and co-fund open research/crowdfunded initiatives through semi-automated payment flows.

Prime Rating: A permissionless framework for quantifying DeFi protocol risk and quality and a research hub for DAO enthusiasts.

Prime Pools: An interface that facilitates the creation and management of DAO-governed liquidity pools which can enable the bridging of liquidity between allied ecosystems and creation of index pools.

We see this relationship complementing Gitcoin in the following ways:

• Enabling Gitcoin to have a direct stake in the future direction of PrimeDAO via 0.5% allocation of their governance token into the Gitcoin Treasury
• Strengthening ties between and improving the shared bandwidth of Gitcoin and Prime teams
• Collaborating on building DAO 2 DAO tooling to usher in the next era of coordination

Specification

The passing of this proposal would transfer $250,000 USD worth of $GTC to 0x567d220B0169836cBF351DF70A9c517096ec9De7, PrimeDAO’s specified Treasury address.

500K $D2D, a 0.5% allocation, would be transferred to 0xde21F729137C5Af1b01d73aF1dC21eFfa2B8a0d6, Gitcoin’s multisig address for easier delegation / voting.

Use of Funds

To ensure long-term alignment, Prime DAO will hold no less than 50% of the tokens received through 2023 and act as a meta-delegate in the Gitcoin ecosystem.

To ensure long-term alignment, Gitcoin will hold no less than 50% of the tokens received through 2023 and act as a meta-delegate in the Prime DAO ecosystem.

Miscellaneous

Read the full proposal details and the discussion here: https://gov.gitcoin.co/t/proposal-partnership-mutual-grant-with-prime-dao/9330