PrimeDAO

PrimeDAO has been dormant during Q3 of 2023 and operated solely by the pro-bono contributions from the Kolektivo Labs team.

As we are approaching the new phase of Prime, Inverter Network aims to establish a long term partnership with PrimeDAO to offer its modular architecture and design system to enable a new line of solutions to bring a positive cash flow to the Prime treasury.

Enabling this - we’ll support the development of PrimeDAO’s infrastructure and extend its capabilities to offer streamlined processes for token operations, starting with its own.

Objectives

The proposal outlines a roadmap for researching, developing, and deploying the Voting Escrow Factory (veFactory) along with veToken mechanisms for $D2D.

Leveraging PrimeDAO’s extensive expertise in DAO collaborations and token operations, we will implement the $D2D token mechanisms in collaboration with Kolektivo Labs, establish a Proof of Concept (PoC) development roadmap, and create a workflow template for veToken and integrated token mechanisms.

Our core objective is to facilitate the creation of effective Voting Escrow Tokens using Balancer Liquidity Pool Tokens, thereby enhancing liquidity, aligning stakeholder interests, and optimizing reward and voting power distribution. The proposed deliverables include two key components: Back-end Inverter modules for Voting Escrow creation, decentralized governance, and rewards distribution, and user-friendly front-end Widgets for deployment and operation of veTokenomics for tokens, starting with $D2D.

Short-term goals focus on implementing and extending the veD2D system in Q1, with long-term aspirations to expand these services to other DAOs and develop additional R&D and Liquidity services.

Prime has immense experience in liquidity strategies, DAO2DAO and token operations, token issuance and distribution. Given this, we aim to;

Kickstart Prime’s plug-in library initiative by implementing $D2D token mechanisms utilizing the developed workflows in collaboration with Kolektivo Labs to: Dogfood the designed veToken framework by implementing it for $D2D. Establish a roadmap for the initial PoC development. Collaborate with Kolektivo Labs to research and design a veToken and oracleStake framework for $D2D token holders. Research design requirements for a Prime staking program,

Research design requirements for a tokenomics plug-in library focused on the ve staking implementation requirements from Prime.

Host at least three ve token mechanism design workshops for Prime’s new token program design, aims, research with Prime’s stakeholders. We aim to follow up on the workshops with external projects who have utilized ve mechanisms to learn the pain paints experienced and explore extending the workflows and widgets to other projects that aim to utilize ve based token mechanisms.

Design the initial workflow specifications based on the outcome of the initial research for design requirements.

Total budget requested for Q1, 2024:

D2D: 1,500,000

USDC: N/A

$D2D tokens will be used to provide liquidity to the D2D pools. Received $D2D tokens will never be sold to the market.