Primordium

The Primordium framework is an open-source system of smart contracts that revolutionizes the way DAOs can be formed and operated.

Yeah yeah, we know. You have heard this before. We have too! But please read on, because this open-source framework embodies what it truly means to be a DAO.

This framework will serve as a decentralized and trustless way for communities to collectively apply funds and/or resources towards a shared goal. It allows for full community agency, without any centralized groups or companies making decisions for the DAO. Additionally, it allows for individual DAO members to receive rewards for their contributions in the form of profit distributions.

How Does the Primordium Framework Do That?

Here are some key features of the smart contracts:

• Fully Decentralized: Each DAO is 100% owned and operated by its DAO members. The on-chain voting system is based on the Compound governance framework. All DAO operations are voted on and carried out directly on-chain by the DAO members. There are no multisigs or centralized parties controlling the DAO.
• Self-Funded: DAOs deployed using this framework are 100% self-funded. Every member is allocated membership tokens in direct proportion to their capital contributions. All capital contributions go straight to the DAO treasury, which is exclusively controlled by the voting process. Nobody is airdropped any tokens; the only way to join is to buy tokens yourself. Everyone has equal and transparent entry conditions.
• Member Withdrawal (Rage Quit): Every member is free to withdraw from the DAO at any time, walking away with their pro-rata share of the DAO treasury funds. This means members are free to exit before any given proposal is executed, empowering individuals to leave in the face of corruption or misalignment.
• Profit Distributions: Members can vote to distribute funds (profits) from the DAO treasury proportional to each member's token holdings.

This will enable DAOs to operate as fully decentralized, for-profit businesses. It will enable any DAO community to form and fulfill their own self-designated purpose.

Primordium DAO

The Primordium DAO will be the first DAO deployed using this framework, but the framework itself will be open-source forever and free for any person or community to use.

As a DAO, Primordium will operate as a for-profit community-owned business. It will be equally open to everyone for entry. Primordium's first mission is to build the Primordium Network: a no-code community platform that enables anyone to create or join business DAOs of their own. The Primordium DAO will have 100% ownership and full control of the Primordium Network.

If you want to learn more about Primordium, here are some good resources:

• Whitepaper
• Introduction to Primordium
• GitHub

If you want to stay updated on the open-source development, you can follow us on Twitter. We also post weekly development updates on Substack.