PGP-15: Token Swap with PrimeDAO

Summary: Swap 24.750 PAL for 69,000 D2D OTC with a 30D moving average (figures will be updated when the vote is passed)

Context:
PrimeDAO is a partner that has helped us launch $PAL with an LBP on Prime Launch and who has now released a new platform called Prime Deals. They offered to reinforce our links by doing an OTC swap.

Rationale:
Prime is creating financial services for DAO’s “corporate lifecycle” (fundraising, deal-making and liquidity) like investment banks have been doing in TradFi. Their approach is very synergistic with ours, as we are trying a similar approach but for “corporate governance”. Combined, we can give a vertical service to DAOs from 0 to becoming a live-player.

While not exclusive, our swap would incentivize Prime to collaborate with us on their vote lending strategies on Balancer (in which they are very well integrated) as well as help us benefit from the upcoming Prime Pools for our Balancer PAL-USDC gauge.

Means:

  • 24,750 PAL

Sustainability:
To make this swap fairer we suggest doing a 30-day TWAP price feed

Voting options:
Yes / No / Abstain

  • For
  • Against
  • Abstain

0 voters

1 Like

Would both tokens be subject to long term vesting schedules to ensure full alignment?

1 Like

There is currently no locking system on Prime’s D2D and we’d like to fully benefit from its utility once live, but we could vest / lock, of course.
That’s a really good question which I will let our friends from Prime also pitch in.

1 Like

Interesting proposal, It’s true that the PAL launch was very smooth, however not sure how can the Paladin DAO use the D2D tokens ?

What’s the utility of the D2D ? Can it generate any yield ?

2 Likes

Luuk here from Prime! Excited to see this proposal move forward and looking forward to increasing Paladin <> Prime integration - especially Quest <> Prime Pools.

@Dydymoon we’re working on a veD2D upgrade that will give multiple perks to veD2D holders - for now D2D is most useful as part of one of the two D2D pools in Balancer with about 70% APR.

4 Likes

Hey Luuk, thanks for the quick reply !
veD2D seems really interesting, can you leak some alpha on the upcoming perks ? :eyes:

Indeed the 80/20 LP can be really profitable to accumulate more veBAL voting power.

1 Like

Vote is now live: Snapshot