Rating Process

Permissionless rating framework

The Prime Rating process enables anyone to create and submit a Prime Rating report that will update the Prime Rating if it's accepted by governance.

Prime Rating from a Rater's perspective

  1. Decide which report you want to create: Depending on your preference and experience you can decide whether you want to create a Smart Contract, Data, or Fundamental Report V2.0. Next, decide which project you want to create a report on. You can consult the Prime Rating database to see which reports have already been created.

  2. Copy the Report template: Download the Report templates docs or copy the G docs version below G docs: Smart Contract Template | Data Template | Fundamental Template V2.0 Word: Smart Contract Template | Data Template | Fundamental Template V2.0

  3. Fill the report: When answering questions, try to add as many relevant references to your answers to help strengthen the report.

  4. Submit the report for review: After completing and checking the report, submit the report for review in the #Report channel in the Prime Rating Discord.

  5. Submit the report for a vote: After receiving and potentially incorporating feedback, the new report can be submitted to the Prime Rating Governance systems. The Prime Governors (REP holders) will vote to add the report to Prime Rating. As a Rater, you can submit the Report yourself using the Alchemy DAPP or share the report in the #📃-submit-report channel in Discord if you want a Steward to submit it for you!

After a proposal passes and a report gets accepted, one of the Stewards will update the Website & Gitbook to reflect the new Rating state.

Prime Rating process model

Concept

Description

Rater

Individual or group that creates Prime Rating reports

Governor

Individual or group that votes on Prime Rating reports

Steward

Individual responsible for the correct execution of the Prime Rating process

REP

Reputation or REP is the non-transferable governance power of Prime Rating. It allows for influence in Prime Rating.

PRT

Prime Rating Token (PRT) is the transferable counterparty of Prime Rating REP. Prime Rating Tokens can be used to earn different access rights/levels in Prime Rating.

PRIME

PrimeDAO Token (PRIME) is the native coordination token of the PrimeDAO Ecosystem. It can be used as an exchange of value within the Prime Ecosystem

USDC/ETH

Any Ethereum based token can be used as a reward token for Prime Raters.

Voting Period and Governance

Prime Rating is governed by the Prime Rating Reputation (REP) holders, individuals, or organizations who contributed to the advancement of Prime Rating. REP is non-transferable, so only those individuals who have meaningfully contributed to Prime Rating can vote. Each vote in Prime Rating takes approximately 4 days to pass (or fail). A relative majority is needed to pass any boosted proposals.

Rewards

Prime Raters are rewarded for submitting reports that are accepted by the Governance mechanisms and added to Prime Rating. Currently, we only reward for unique reports, reports that cover a project/category that has not been rated yet. Rewards are only allocated if the Report is accepted.

Reward per unique Report: 150 USDC + 200 PRIME

Start Rating

Now that you have a good understanding of Prime Rating you are ready to start rating! Go to the next page to learn how to Create a Report and get started.