PGP-9: Tip PrimeDAO for their support during the lPAL LBP

Context
Between March 21st and March 24th, 2022 Paladin utilized Prime Launch, a DAO token-launchpad technology developed by PrimeDAO to bootstrap liquidity for the PAL token.

During the Launch, 419,989.30 lPAL tokens were distributed to contributors, and $650,982.95 in WETH was collected by PaladinDAO.

PrimeDAO supported the Paladin team prior to and during the launch to support its success.

The following contributions were made by Prime aligned contributors:

  • Token launch design, supporting with selecting the right approach and parameters
  • Communications support, including hosting an AMA, publishing an article, and several tweets.
  • Introducing to the Balancer team for the creation of the PAL pools
  • Supporting the connection of the PAL pool with Coingecko
  • Technical and product support before and during the launch
  • Collaborated with LBPlaunches to distribute information about Paladin’s Launch to 100s of visitors and subscribers to LBPlaunches.

The current Prime Launch app and PrimeDAO do not charge a direct fee for utilizing the Prime Launch dapp, instead, projects are requested to give a Tip based on the perceived value created by PrimeDAO.

Proposal
Tip PrimeDAO an amount in PAL tokens equal to 0-1.5% of the amount of PAL tokens distributed during the LBP (~ 420K).

Rationale
Alternative solutions for hosting an LBP, such as Copper Launch, charge a 2% flat fee on volume during the launch with minimal support. Hence, PrimeDAO proposes a tip ranging between 0%-1.5%.

Means
Paladin Treasury to transfer an amount of PAL to PrimeDAO’s Treasury.

Voting Options
0% - no tip, 0.5% (2100 PAL), 1% (4200 PAL), 1.5% (6300 PAL)

7 Likes

Hello and thanks again for the launch!

From what I understood and saw myself, the team really invested in the best possible launch of the $PAL!

PrimeDAO is also a DAO that aims to help decentralised coordination and is therefore well aligned with Paladin’s ideals.

We might have to work together again, so I will vote for 1.5%

3 Likes

Hey guys, not only did PrimeDAO give their best to help us on all fronts, but they did it for free.
By doing this, we’re no only thanking the team for their work but we’re also sending them an invitation to continue collaborating.

Let’s remember that they are building tech for DAO2DAO interactions. We have the same client base and are creating very synergetic protocols. Personnally I am very exciting on continuing to build together.

I will also support this proposal.

4 Likes

I will support this proposal as well. It’s crucially important for us to support a team that supported PAL without question. I will vote for the full 1.5% tip

4 Likes

I remain impressed by how smoothly the LBP went (aside from watching the price action :sweat_smile:).

I’m 100% onboard with this proposal and voting options. :handshake:

4 Likes

No, 0% ! :triumph:
spoiler: this is a joke.

More seriously, as @Figue pointed out, we’re also sending them an invitation to continue collaborating.
So I’m totally for 1.5% !

(And btw, thanks for your work !)

3 Likes

Full support on the 1.5% too, thanks for helping in the launch process :fire:

A poll on this topic with the different options could be helpful if you can add one

3 Likes

Thank you for the smooth launch.

I would also support the 1.5%:
Reason: Smooth launch & Potential future collaboration

1 Like

That’s an incredibly reasonable ask. I appreciate how you’ve detailed your contributions and all of the effort you put into making this happen. I’m in full support of the 1.5%.

2 Likes

I don’t have much to add… i agree with what has been said so far. The launch was smooth, and considering that similar platforms charge a flat 2% fee, a 1.5% tip seems reasonable and well deserved.
Plus as you’ve also pointed out, we might be interested in using some of the tech they are building in the future.

2 Likes

Since the approval for tipping seems so overwhelming, the vote will be up tomorrow.
In the meantime you can signify your vote intentions in the following poll

  • No tip
  • 0.5%
  • 1%
  • 1.5%

0 voters

This feels like a no brainier.

I wish the rate was less variable and agreed upon value prior to the LBP.

But yes, PrimeDAO deserves to be compensated for their role in the LBP, enabling them to provide this service to other DAOs.

Question - is there some sort of lock-up with this transferred PAL?

2nd question - will you be voting with or delegating your PAL?

Looking forward to learning more about your process.

3 Likes

Good questions: @LuukDAO

These are good points, but i would say that what they intend to do with the tokens should not affect our decision to tip them, right?

3 Likes

I agree with @FrenchTony that this being a payment, we have no conditions to impose on Prime. As they don’t have a fee for their service, we decided to use this as an opportunity to test out what the community would find acceptable.

2 Likes