Background & Motivation
This proposal is a follow up on PDP 008: Formalizing the transition to a new Prime token, token distribution and Seed Round terms. Following multiple community and steward gatherings - we have identified the following preferences for the Prime Token (Re) Launch.
- Lock in the Prime Token launch distribution
PrimeDAO hereby confirms the Prime token distribution to follow the guidelines set out in PDP008, with the following breakdown:
|Stakeholder Group||Amount of Tokens||Lock-up|
|Incubators (Early Team)||20000000||3 years|
|Seed Round||10000000||2 years with 10% unlock at TGE|
|Foundation||8000000||2 years with 10% unlock at TGE|
|V1 Prime Contributors (PrimeDAO Token holders)||5000000||6 months with 3 month cliff|
|PrimeDAO Treasury||50000000||Controlled by DAO|
2. Confirm the Prime Liquid Launch details
PrimeDAO aims to launch its Prime Launch product on December 13th, followed by its own Liquid Launch (LBP) to be hosted on December 14th. The Prime LBP will last for 3 days. The LBP will be bootstrapped with 7,000,000 Prime and up to 1,000,000 USDC. The Swap fee will be set at 1%. The start weight will be 96/4 and the end wait will be 50/50.
3. Align on the new Prime Token details
Following wide community discussion, we have decided to make a small rebrand to the new Prime token, mainly to make clear that it is a relaunched token and also to double down on our main niche: DAO 2 DAO.
Token Name: Prime
Total Supply: 100,000,000