PrimeDAO, a large decentralized broker, hopes to stabilize the violent DeFi world. To learn more about this new initiative, we interviewed one of the PrimeDAO members, Alon Goren, co-founder of the Draper Goren Holm Ventures Foundation. He said that as an investor he is very excited about the DeFi cosmic explosion, but has several considerations for its sustainability:
“All these immediate products are one of the reasons for the appeal, but they are also unstable and not responsible. There should be time to analyze smart contracts, and there should be time to fix mistakes. So what PrimeDAO is installed to do. It will bring together many like-minded space builders and create initiatives for a sustainable DeFi society. ”
Goren hopes that this new organization and its members will act as auditors for new projects, as well as help build new DeFi applications as a primary broker and smart aggregator. He does not want to be part of an ecosystem similar to a game of musical chairs: the first insiders make money, and those who come next lose 99% of their investment.
One of PrimeDAO’s starting points is to build a ranking system for DeFi projects, Goren said. It would be like what Moody’s or Fitch do in the traditional bond financing world, categorizing each concept based on perceived risk. Goren believes that if used correctly, this classification system will open up new possibilities:
Imagine if each person started their own decentralized exchange with such a product, then the exchange could say: “You know what? I want to connect with a more popular audience. I do not want SUSHI tokens or anything else to appear on trading pairs. I will list every 10th token rated 10 on PrimeDAO. ”
Goren said that despite all this madness, he has long believed in the cosmic growth of DeFi. He hopes his personal investment in the PrimeDAO initiative will help DeFi on a more sustainable path.