Become a Rater

The Prime Rating system operates through a permissionless process governed by the Prime Rating DAO. Prime Rating is built to improve the resiliency and functionality of the open finance ecosystem, to educate end-users about the functionalities and associated risks, and to create a benchmark for an open financial system that is permissionless, trustless, and transparent while respecting user sovereignty. V.1 of Prime Rating evaluates protocols from the perspective of a protocol token holder based on the Technical (Smart-contracts) and Fundamental quality.

Prime Rating Scale

To provide a simple and comparable opinion, protocols are rated on a scale from A+ to D depending on the aggregated outcome of the smart contract, data, and fundamental review.

Permissionless Rating

To provide a neutral and all-encompassing opinion on open finance protocols, Prime Rating has developed a permissionless and modular framework that utilizes DAO best practices and decentralized data storage to operate as independently from any centralized entity as technologically possible. By being permissionless, Prime Rating is more resilient, neutral, and able to leverage the wisdom of the crowd. All Prime Ratings and documents are publicly available and can be accessed non-exclusively by anyone with an internet connection, making Prime Rating a public good for the benefit of the systemic advancement of open finance.

Prime Rating Building Blocks

The following building blocks make Prime Rating possible:

‍Prime Rating Backend (Beta version): Prime Rating's backend is built in a trustless manner using IPFS to store all reports (in .pdf). In its final state, the backend will function fully automated and without any human interaction, making the framework fully permissionless and trustless, only governed by the DAO.
‍
Report Templates: Prime Rating relies on a set of report templates accessible to anyone with an internet connection. These templates are the standard format through which rating scores are created and updated. The templates are improved on a regular basis and also governed by the DAO.
‍
Prime Rating Governance: Prime Rating Governance is at the core of the framework and responsible for accepting/rejecting reports, thus ensuring high quality AND veracity of the rating scores.
‍
Prime Community: The community is at the heart of the DAO and has a voice in all important matters. Decision making is done through discussion to find consensus and finally via voting.

‍Communication Channels: Discord is used for communication. PrimeDAO Discord uses Collabland to allow different tiers of Prime Raters to autonomously claim their Rank in the PrimeDAO Discord Channel.

Technical Rating

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.