We want to turn DeFi into a cooperative ecosystem. While we are building these DAO2DAO products and services, we are paving the way for these interactions by dogfooding PrimeDAO itself into a headless brand— an open value network that builds effective organizational coordination tools to secure the collective future of DAOs all over the world.
We want to establish PrimeDAO as a hub for DAOs to come together and co-build DAO toolings and services. We have seeded this vision in our culture by collaborating with DAOs across multiple phases of researching, designing, and developing our products.
As we move forward with our PRIME ($D2D) token launch, we want to signal our intent to make PrimeDAO a DAO co-habitation space by sharing ownership and securing long-term alignment with DAOs we will be closely working with. So, we are hoping to do token swaps and mutual grant agreements with our strategic partners.
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, and grant PrimeDAO $250,000 USD worth of $GTC.
The purpose of this alliance is to help ensure that Gitcoin and Prime can work together to build tooling for DAO2DAO coordination.
Gitcoin’s vision is to upgrade society’s capabilities to coordinate - with the hope of defeating coordination failure altogether.
The next frontier of coordination is DAO-to-DAO interaction. For a D2D ecosystem to flourish, it needs proper tooling to support new ways for DAOs to experiment with collaboration and joint ventures.
As a DAO of DAOs, Gitcoin is already a hub for inter-DAO coordination. It’s a natural home for R&D of coordination tools, including mechanisms like Quadratic Funding, that have already impacted the entire web3 space.
We see this relationship complementing Prime in the following ways:
- Enabling Gitcoin and PrimeDAO to have a direct stake in each other’s future direction
- 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
- Benefiting from the expertise in coordinating public goods funding of the Gitcoin community
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.