Prime Rating Season 1 Funding Proposal

The Prime Rating squad has worked hard to kickstart the first Prime Rating Season! A full overview of the first season can be found here: Game On — Introducing Prime Rating Season One | by PrimeDAO | PrimeDAO | Oct, 2021 | Medium

The Prime Rating Squad has made a budget for the First Season with an estimation of the costs in different scenarios

So far the interest is okay, but not amazing - so we are requesting the “similair participation” budget aka 27200 USDC + 46600 PRIME. In addition, we have budgeted 3.5K USDC + 3400 PRIME for additional support on the development of the Prime Rating API.

The total ask is 30,700 USDC + 50,000 PRIME

This proposal has been submitted for Vote (48 hours) here: Snapshot

Hey team,

Below is a quick update on the requested budget and the actual spending.

After running for 4 weeks, Prime Rating Season one has ended on November 8th and rewards in USDC were paid out in the meantime (PRIME will follow after IDO). While the submitted reports were of very high quality, participation in terms of number of reports was well under what we expected. Hence the actuall spending was way lower than our budget.

The actual spend & payment can be seen in the sheet:

Tldr: Difference between budget and spending was 17’860 USDC and 26’180 PRIME, which were budgeted but NOT spend.

However, the PRR Squad has decided to make use the remaining funds, to enable a rating competition (similar to the rate-athon in July). This will most likely be the last rating competition in 2021, it will only run for a few days (~10) and end before the IDO.
The idea is to have a shorter competition that should start together with the release of the new Rating website (target date November 29, 2021).