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Prime, API3 DAOs to share governance rights
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Prime, API3 DAOs to share governance rights

Staff Writer
Staff Writer
January 31st, 2023
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PrimeDAO today announced an exchange of tokens and governance rights with the API3 DAO. Through this exchange, these two decentralized organizations will have the opportunity and authority to co-govern each other, formalizing their mutual interests as a collaborative network.

“The future of work is entirely digital. Digitally native organizations like Prime and API3 have this unique opportunity to automate mergers at a much faster pace than corporations. Prime is developing on-chain tools that aims to streamline the way digital networks intersect,” says Luuk Weber, board member at the Prime Development Foundation, a non-profit Curaçao foundation.

“We want to provide smart contract developers with a truly decentralized way to connect their on-chain applications with real-world data. One of the most important layers in this decentralization is how the data feeds are governed. For us, this exchange is a way to decentralize API3 at the DAO level, bring in an extremely high-quality governance partner and align our mutual interests for the long term,” said Heikki Vänttinen, one of the co-founders of API3.

The benefits of this exchange include:

  1. Collaborative alignment of both ecosystems through mutual stakeholding. By mutually holding the same token in their treasuries, they both benefit from accrued value, and will take actions to see each other succeed.


  2. Establishment of a robust network moat on co-beneficial ground, making their respective ecosystems more resilient.


  3. Realization of the first steps towards full actualization of automated network interactions, such as interfaces for mutual shareholding and governance, combined ventures for common product and protocol development, and shared community resources

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