Prime Rating is excited to launch the new and improved Prime Rating Web app. The app provides a full overview of the latest reports created on DeFi protocols and ranks them based on both Technical (provided by DeFi Safety) and Fundamental qualities. The two scores are combined to create an overall letter rating that signifies the quality of the project.
With the new Web app, we take the next step to becoming a fully permissionless and trustless rate-to-earn protocol. The framework we established will increase efficiency for evaluating DeFi projects and help us to promote transparency in the open finance Web3 ecosystem.
Prime Rating combines the following characteristics forming a unique approach to ensure high-quality and up-to-date rating scores:
- Permissionless — Anyone can participate and become a rater
- Trustless — Reports are uploaded to IPFS and cannot be tampered with
- Transparent — All reports are publicly accessible and verifiable
- Community-driven — Reports are written by community analysts
- Rate-to-earn system — Raters get rewarded and level-up
- Governed by experts — Raters with the most experience have the most voting power
Prime Rating API
Next to the new Web app, the team is about to launch the Beta version of the Prime Rating API, which will provide easy and reliable access to all Prime Rating data, including overall project rating and sub-category scores. The Prime Ratings are ideal for dApps and DAOs that want to have reliable evaluations of protocols, without needing to allocate valuable resources to review each protocol themselves. The first early Beta partners have already registered. Are you Interested? Projects can request free access to the soon-to-be-launched API here.
New features
New Design and Data
The new app comes in the new PrimeDAO design, with an easy-to-use interface displaying all relevant attributes, including overall score, technical and fundamental score, category, and last update.
Detailed Scores
The protocol details page provides additional information, such as all sub-category scores, a short description of the protocol, and the rater(s) that wrote the last report, as well as easy access to the latest reports.
Rater Overview and Profiles
The new app has a Rater page with an overview of all current Raters, their rank, and RXP earned. Each Rater also has a profile with their latest reports and links to their socials.
Methodology
An in-depth explanation of how the Prime Rating framework works, a description of the most important building blocks, including a description and links to the report templates.
Rate-athon #2
To kickstart the launch of the new web app, Prime Rating celebrates the release by holding a rating contest aka rate-athon #2!
PrimeDAO invites everyone interested in token deep-dives and DeFi analysis, to join in the contest. Participants will be rewarded and are eligible to win handsome prizes.
Interested? Find out more in the official announcement. To participate you can pre-register here and read all about the rating process here.
Join us on Discord if you have any questions!
About Prime Rating
Prime Rating builds and maintains a permissionless rating framework for quantifying the quality and risk of open finance protocols. The Rating App offers a simple and comparable opinion in the form of a letter rating on a scale from A+ to D that represents the overall quality of an open finance protocol from a neutral view, based on publicly available data.
Prime Rating operates through a permissionless and transparent process governed by PrimeDAO, applying a wisdom-of-the-crowd approach by allowing multiple independent reports per protocol, making each score more accurate and resilient.
