PrimeRating Vision & Mission

Prime Rating
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Hi all,

This post summarizes the long-term vision for PrimeRating, including the goals we want to achieve and the mission that drives us. The vision as well as the mission should serve as a guide for all contributors and community members, to ensure that we have a common understanding and agreed on shared goals.
In addition, I added some more concrete strategic pillars/goals, which I believe should be our focus in the medium term (6-12 months).

This is a first version not intended to be final, but open to suggestions from the community. I’d encourage everyone to provide feedback. After implementing the community inputs, I’d like to publish the final version on our Gitbook and homepage.

PrimeRating - Vision & Mission Statement

Vision (What)

PrimeRating wants to become the number one permissionless service provider for quality and risk metrics in DeFi. We want to build a strong community that drives and improves PrimeRating. It’s our goal to build services that help users, DAOs, and investors in DeFi (and the wider crypto ecosystem) to improve and become better investors, contributors, and builders.

Mission (Why)

Our mission is to educate ourselves and the people in the crypto ecosystem. We do this because it is our desire to increase our knowledge, in order for us to make better investment decisions.

Strategic Pillars (How)

We try to achieve our vision and mission by constantly educating ourselves, summarizing and passing on our learnings in an easy consumable fashion. For now, PrimeRating will be focusing on the three main pillars described below:

  • Strong community with deep knowledge - PrimeRating gathers the information we display through crowd-sourcing, i.e. our community. Therefore, we must attract individuals with deep knowledge of the crypto space, and create a strong culture plus a great working and learning environment.
  • Good reputation - PrimeRating wants to become a top platform for risk and quality metrics for DeFi users, investors and DAO’s. Therefore, it is important that we build a strong reputation through high quality publications (rating reports and complementary research), good marketing, and partnerships with highly reputable entities and projects of the DeFi space.
  • Easy-to-use Platform - It’s our goal to attract visitors and users to our platform by having best-in-class UX. Simplifying complex information and providing a quick way to consume them through easy to read presentation/visualization of the most relevant data.

Guideline #1 - How to build the best platform

  • Goal: We want to display each user exactly what he wants to know and more!
  • Work with the best UX and UI specialists
  • Use analytics to build the best user journey for:
    • DeFi users (retail, investors, traders, new-joiners)
    • DeFi natives (DAO members, community contributors, developers, founders)

Guideline #2 - How to gather and engage a strong community

  • Goal: Gather a community that has a strong feeling of belonging and consists of highly skilled individuals with good knowledge of the DeFi space and strong working ethos
  • Make it as easy as possible to contribute, while adding just a bit of friction to prevent freeriders and “when-moon-people”
  • Reward generously and distribute token ownership to the community
  • Strictly ensure a safe environment for people to develop their skills and feel comfortable to contribute
  • Provide easy access to educational resources and build a knowledge sharing and feedback mechanism*

Guideline #3 - How to build the best reputation

  • Goal: Develop a good reputation within the DeFi (or crypto) ecosystem as a reliable partner that always provides top quality work. Become a synonym for ratings and risk in DeFi
  • Engage in D2D. For PrimeRating to become a known and reputable partner, we aim to work for and with other DeFi projects on a contractual basis, as joint-venture or long-term partnerships
  • Develop and apply publication framework to ensure consistent quality and recognizability of publications (e.g. Twitter posts or direct Discord feedback on rated projects)
  • Regularly publish deep-dive reports and analytics pieces
  • Establish long-term partnerships with reputable and well-known projects in the DeFi and crypto ecosystem

The targets defined above are tailored towards PrimeRating, and not PrimeDAO in general. However, we think that the statements described above should be in line with the broader direction PrimeDAO is aiming for.

Thanks to @LuukDAO for the initial feedback. Looking forward to more inputs from the community.

*edited on August 18, 2021

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I really like the vision, Lavi! For Guideline #2 I would emphasis the educational component as well as Knowledge documentation/ sharing processes and Feedback mechanism.

This comment might already be too much thinking about the what could be necessary in implementing the goal (and less a vision).

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Thanks @xm3van for your feedback! Great to hear that we’re aligned on the vision & mission.

Regarding the guidelines, agree with your point, I will implement this accordingly. I don’t think this goes too much into detail, as this is basically what the goal of these guidelines are: Providing some concrete steps we want to take to achieve our goals.

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I think PrimeRating’s slogan should be something like “open-sourcing fundamental research”.
We provide and maintain the framework(s) in the open and invite anybody to use them, and the best ones passing governance get published on our platform.

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Looks good!

couple feedback that came to my head as i was reading thru:

  • Guideline #1 - How to build the best platform: Goal: We want to display each user exactly what he wants to know and more!
    not sure if it is anywhere else too but might be better to change he/she into they
  • We should be a Schelling point for the FA geeks that already float discords and twitter as their preferred choice of medium to iterate on their interest. I think that would need a unique reach out strategy of its own, in which d2d kind of partnerships might help a lot.
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Not sure what the issue is, but I currently can’t change my own post anymore. Your right, it should read “they”!
Will implement the feedback when we post these guidelines onto our Gitbook or website.