PRIME DAO: The catalyst for an adoption engine for Open Finance and Decentralized Finance in a global system. by frankydoodle

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PRIME DAO: The catalyst for an adoption engine for Open Finance and Decentralized Finance in a global system.

Good morning to all of us here on cryptocurrency space again! This is your awesome blogger Mr. Decentralized that would talk about updates about what is going on in our industry and will give a scope about the other developments in the background as we finish this year in prosperity. As we all know, DEFI is in the spotlight right now and it is what everyone needs to learn about. It is the decentralization essence as well as the technology that binds each one of us together and be able to make the ecosystem of crypto it is what it is right now and is improving as time passes by. 

Today, we will talk about Prime DAO and how it is what we can call the catalyst for mass adoption of Decentralized finance or DEFI as well as talk about the foundation behind it, features, and competitive advantages so that people will be the one to benefit each DAO generation. This DAO keeps on forever as one of my mentors says. Let us jump onto it.


** Note: All images are credited to Prime DAO project and its members.

# What is PRIME DAO all about, its features, and why it is the catalyst for mass adoption of DEFI

--->  First let me introduce Prime DAO as one of the most promising projects of 2020 because they are not just a coin/token with just being a use-case or utility use. They are more on building up a community of builders, researchers, contributors, and a formation of different well-known names of projects in the crypto industry. They are not just another type of crypto project that is just starting. They have already established their presence in the industry. Why do I think that this will be the catalyst for mass adoption of DEFI? Because of PRIMEDAO's products.


# 1. Decentralized Prime Brokerage


---> This is the first pioneer product of PRIMEDAO. When we say brokerage, I know what comes to your mind. A centralized exchange of money and shares. In this case, it will be coins since we are into crypto. And what do we know when someone is holding money and shares exchanges? It is CENTRALIZED which we do not want in the crypto industry. Non-custodial cryptocurrency assets is one of what we more wanted for this type of exchange. Hence, we have PRIME's Decentralized Prime Brokerage. 

What does it actually do? Well, it has the components and structure of what a centralized typical brokerage that you are thinking and its legacy tools as what they are saying, back here in PRIME DAO. It's what makes the cryptocurrency adoption stage be even better for this type of setup and easier to be used by beginners and those who are eager to enter DEFI with curiosity and how it works. The way this Decentralized brokerage is not that type wherein there are ordered like in the stock market. This has both or hybrid features of liquidity for both buyers and sellers in a decentralized way. Aside from that, you can also trade derivatives, lend or even borrow here for your margin trading essentials. The Prime DAO architecture is made to last and robust in technological developer's techniques and securing it.

# 2. Smart Aggregation


Once you are into DEFI, I know you do have encountered one thing or another what we call a ''shortage of liquidity''. This comes when there is a new project that is newly introduced to the industry and there are no exchanges yet that could give or supply liquidity for the exchange to begin. This is the dilemma of most pre-sale investors on where to sell their bought tokens or coins. Being able to trade it in the open market is essential for any investor in the crypto market because of the volatility it brings anywhere. This is what Prime DAO is beginning to solve. They are not just 'trying' to solve it. They did it already and will roll out for the community to be tried on once launched. As what I am talking about this Smart Aggregation, what the Prime DAO is doing is that it sources out the pair or token you wanted to buy or sell and the Smart aggregator will be the one to give you the best liquidity price pair and from where. With just 1 click, you can find the best rates to have not just the best liquidity price, but also get no slippage in trading which is important in trading in the long term for the ecosystem of Prime DAO and the traders as well because they will save those slippage fees and gas fees. 

# 3. DeFi Ecosystem Coordinator


---> When a decentralized project goes live, some other unscrupulous people are messing up the system and making a tokenomics wherein the allocation for investors and team are too much compared to those people who are in the community. PRIME DAO knows that it is not fair/unjust to give the governance to a few men/women in the industry on how the protocols or DAOS work. That is why there is the DEFI coordinator of Prime DAO. They are the ones who will allocate resources based on their earnings in order to make the contributors' skill set and time worthwhile in making the DEFI ecosystem larger and sustainable to earn more resources which will they give back to the cryptocurrency community to worthy contributors in the ecosystem. PRIME DAO: Made by people, earned by people for the people.


# Prime DAO Products

## 1. The Prime Router

---> Prime DAO is a serious project that is reimagining things when it comes to trading. They do have what we call The Prime Router. This router as coming from its name is a type of decentralized app made by the Prime DAO founders, Devs and community members wherein it is the one we are talking about liquidity aggregation awhile ago. Take a look at the Smart Prime router:


And here is where the newest version is where you can swap tokens: <a href=""> Smart Prime Router</a>

And this is a screenshot of it. 


If you would see, it is a simple platform but with incredible coding skills are being got into it. Because that is not only a swapping platform of tokens but can also be used for liquidity aggregating in order to give you the best rates when swapping. You would also see in there if the swap needs to have like multi-transaction paths just to give you the best swapping rates as well. By the way, one of the many problems in the DEFI industry AMMs is the sources of liquidity and if a token is legit in swapping. Worry no more because with Prime router, the DAO members will be the one to give a legitimate source of liquidity sources because it is being sourced out by the DAO. If a DAO votes in the congruency of the mission, then you will be 100% sure that the whitelisted sources are legitimate sources of liquidity and the legitimate token that we are talking about here. 

## 2. Liquidity Pool Manager


--->  Alright guys, this is the second product of Prime DAO. This is the most exciting because you can farm PRIME tokens! This is a product of Prime DAO wherein they created a liquidity pool for getting PRIME tokens and it is being deployed on Balancer platform. By the way, Balancer is a type of liquidity platform wherein you could stake your tokens and be a liquidity provider as well. Since you are getting PRIME, you will be able to also get the benefits from it because that PRIME tokens do have voting rights as well! You could go ahead and get PRIME and farm PRIME here:

## 3. DeFi's Safety Interface


---> What Prime DAO's motive for making this interface is to safeguard the investors and liquidity providers from rugpulls that are rampant nowadays in DEFI. With Prime's interface that is self-governing and has governance that curates the submissions and whitelists and is meticulously processed by each community member and competent DAO devs, they can analyze the smart contract risks and the reputation of the project owners. This results to trust in a project that is being in the PRIME DAO's Safety Interface. A big step towards decentralized trust organization.


# The Prime Ecosystem


---> As you can see here, let me summarize what comprises the PRIMEDAO ecosystem. We already have and discussed the Prime LP manager and the Prime Aggregator. The PrimeDAO builders are the ecosystem contributors for the Prime DAO ecosystem. While the Prime Foundation is the collective part of the Prime DAO wherein it is the one that gives the contributions and allocates the resources to the contributors and how to further move forward the Prime ecosystem to its new heights in the coming generations. With the decentralized applications is the DEFI ecosystem. While the DAO2DAO is the collaboration of different projects being made in the Prime Ecosystem. I will post the list of DAOs that is in alliance with the PrimeDAO ecosystem below:


# The Prime Foundation
---> This is the Prime DAO's legal entity when it comes to open finance and decentralized finance globally. They are like the one that manages, creates and supports the network but does not own the network because it is the community of the ecosystem that is the one driving it forward. It is how DAOs work.







Thank you so much guys for reading my primer article for the Prime DAO ecosystem and its foundation. More articles will be seen for them. I loved how they create it and how the project is being in-line with the DEFI community and the DAO community will work.

If you want to know more about Prime DAO and their details, you may go ahead and go to their website, read their documentation, and visit their social media channels!











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