PDP18: Settle Early Contributor Vests

Governance
1

Background & Motivation
This proposal is related to PDP15: Redeploy Seed Contributors Vests and Pause Early Contributors Vests and aims to settle the remaining Early PrimeDAO Contributors Vests for the stakeholders who purchased Options (for 1c each) or invested during the pre-seed round of PrimeDAO.

In total, 6,552,612 D2D are still to be distributed to stakeholders who purchased a right to acquire these tokens between 2021 and 2022. While the vesting schedule was temporarily paused with PDP15, these D2D tokens have to be sent to the stakeholders prior to the end of the vest as specified in the contracts (October 1st, 2024).

In light of the upcoming SAFE token TTE and the potential for PrimeDAO to expand into new markets, we believe now is a good moment to settle Early Contributors Vests.

Proposal Breakdown
The following options are proposed:

  • Option 1: Unpause the vests by sending the relative share earned between PDP15 and the day of this proposal passing to the Stakeholders and deploying a new vests for the remaining amount to start on the day of this proposal passing and end on October 1st, 2024.
  • Option 2: Send the full share of the remaining D2D to be received to each of the stakeholders directly (Sablier would be used to allow stakeholders to claim the tokens at their convenience).
  • Option 3: Do not un-pause the Early Contributor Vests at this point.
2

After Prime Governance accepted option 2 on April 2nd, PrimeDAO has distributed the final D2D to early contributors in two transactions.

  1. Sablier streams for Early Contributors with 100,000 D2D or more to receive (tx)
  2. Direct transfer to Early Contributors with less than 100,000 D2D to receive (tx)

With the execution of PDP18, all D2D committed to Seed Contributors and Early Contributors is fully vested, and Prime has no further commitments to any stakeholders. PrimeDAO Treasury still controls over 50M D2D (50% of total supply).