[Proposal] Partnership & Mutual Grant with Prime DAO

Summary

This proposal, if passed, would grant Gitcoin $250K USD worth of PrimeDAO’s $D2D governance token at a price of $0.50 per token for a total of 500K $D2D coins, equating to 0.5% of Prime DAO treasury.

The purpose of this alliance is to help ensure that Gitcoin and Prime can work together to build tooling for DAO2DAO coordination.

Motivation

Gitcoin’s vision is to upgrade society’s capabilities to coordinate - with the hope of defeating coordination failure altogether.

The next frontier of coordination is DAO-to-DAO interaction. For a D2D ecosystem to flourish, it needs proper tooling to support new ways for DAOs to experiment with collaboration and joint ventures.

As a DAO of DAOs, Gitcoin is already a hub for inter-DAO coordination. It’s a natural home for R&D of coordination tools, including mechanisms like Quadratic Funding, that have already impacted the entire web3 space.

What is Prime?

PrimeDAO is a collective of Web3 builders and DAOists dedicated to researching and building next-generation coordination tools for the Web3 ecosystem. PrimeDAO is working on a product suite which aims to provide collaboration-as-a-service, which include:

Prime Launch: A decentralized and curated token offering platform powered by Balancer V 2.0 that enables fair and user-friendly token launches. Projects can host a whitelisted seed sale to collect contributions at a fixed price, or conduct a liquid Launch without needing to write a single code.

Prime Deals: A platform for DAO to DAO interactions, where DAOs can propose, negotiate, and execute deals together. It is built on top of a modularised open-source framework of smart contracts with various interfaces that can easily be extended and adapted to any use case. The first supported interaction will be token swaps, followed by joint ventures, co-liquidity pooling, and co-farming that are facilitated by PrimeDAO’s agnostic, trustless, and flexible D2D contracts.

Proposal Inverter: A new funding receiver primitive that will allow DAOs to pool resources and co-fund open research/crowdfunded initiatives through semi-automated payment flows.

Prime Rating: A permissionless framework for quantifying DeFi protocol risk and quality and a research hub for DAO enthusiasts.

Prime Pools: An interface that facilitates the creation and management of DAO-governed liquidity pools which can enable the bridging of liquidity between allied ecosystems and creation of index pools.

We see this relationship complementing Gitcoin in the following ways:

  • Enabling Gitcoin to have a direct stake in the future direction of PrimeDAO via 0.5% allocation of their governance token into the Gitcoin Treasury
  • Strengthening ties between and improving the shared bandwidth of Gitcoin and Prime teams
  • Collaborating on building DAO 2 DAO tooling to usher in the next era of coordination

We see this relationship complementing Prime in the following ways:

  • Strengthening ties between and improving the shared bandwidth of Gitcoin and Prime teams
  • Collaborating on building DAO 2 DAO tooling to usher in the next era of coordination
  • Benefiting from the expertise in coordinating public goods funding of the Gitcoin community

Specification

The passing of this proposal would transfer $250,000 USD worth of $GTC to 0x567d220B0169836cBF351DF70A9c517096ec9De7, PrimeDAO’s specified Treasury address.

500K $D2D, a 0.5% allocation, would be transferred to 0xde21F729137C5Af1b01d73aF1dC21eFfa2B8a0d6, Gitcoin’s multisig address for easier delegation / voting.

Use of Funds

To ensure long-term alignment, Prime DAO will hold no less than 50% of the tokens received through 2023 and act as a meta-delegate in the Gitcoin ecosystem.

To ensure long-term alignment, Gitcoin will hold no less than 50% of the tokens received through 2023 and act as a meta-delegate in the Prime DAO ecosystem.

Benefits

See the “Motivation” section above

Drawbacks

$250K USD worth of GTC would be transferred out of the treasury.

7 Likes

Hey Gitcoin fam! This is Ata from PrimeDAO, super excited to seed our future collaborations with the Gitcoin community with this proposal.

As PrimeDAO, we want to turn DeFi into a cooperative ecosystem. While we are building these DAO2DAO products and services, we are paving the way for these interactions by dogfooding PrimeDAO itself into a headless brand— an open value network that builds effective organizational coordination tools to secure the collective future of DAOs all over the world.

We want to establish PrimeDAO as a hub for DAOs to come together and co-build DAO toolings and services. We have seeded this vision in our culture by collaborating with DAOs across multiple phases of researching, designing, and developing our products.

As we move forward with our PRIME ($D2D) token launch, we want to signal our intent to make PrimeDAO a DAO co-habitation space by sharing ownership and securing long-term alignment with DAOs we will be closely working with, and we hope to have Gitcoin as one of our core partners in this journey.

Happy to answer any questions you have about PrimeDAO :slight_smile:

2 Likes

From the work I’ve done with the Prime DAO folks in the past I can definitely confirm that they’re one of the most mission and values aligned groups out there. Would love to see how we can make something work here + get thoughts from the broader community!

5 Likes

Hey Gitcoin Community - I am the lead PM for PrimeDAO and happy to be seeing this partnership come to life!

Imho, with our approaches to the DAO ecosystem, Gitcoin and PrimeDAO is a natural fit and the timing of this partnership is impecable.

If there is any questions from the community, I would be happy to take those. Looking forward to this!

2 Likes

As the DAO ecosystem is decentralizing progressively, we require more and more tools to enable communities to coordinate better.
Gitcoin has been expanding the reach of Public Goods Funding while providing the web3 community with well-intentioned means to collaborate and build, whereas Prime is advancing the tools that are used for collaboration and coordination.
As an active participant in both DAOs, I believe their alignment will benefit both communities to co-build the tools of the future.

DAO 2 DAO tooling is key to expanding coordination and collaboration and experiment with dynamics that might get us closer to a reality where DAOs replace trad organizations. Token swaps with aligned DAOs are also a great way to diversify the treasury and be able to work together in boosting eachother’s mission

1 Like

I’d like to see this pass. The tools PrimeDAO is building are ones GitcoinDAO needs and the rest of the ecosystem as well.

2 Likes

I hear only good things about PrimeDAO so I support this proposal.

Although I do want to mention this is a bit rushed through - see discussion in stewards-circle chat in discord (visible for stewards) - and whenever possible we should avoid this, so more stewards can see this and read through at their ease.
Respecting timing & governance processes is pretty crucial for a DAO to function well.

3 Likes

:+1: looks good to me. DAO2DAO coordination is the future!

1 Like

I don’t think this does much for Gitcoin from a financial / treasury diversification perspective - for this we’d want to diversify into less risky/volatile assets like ETH or stablecoins, and also avoid lockups. Imo these sort of DAO to DAO treasury swaps should be judged based on strategic merit rather than investment metrics, to avoid issues of “diworsification”.

But overall I think it’s a good initiative with low cost/risk, and PrimeDAO builders/projects seem to align with Gitcoin pretty well.

1 Like