PrimeDAO, a projection seeking to facilitate greater coordination and cooperation among decentralized autonomous organizations (DAO) in the decentralized finance (DeFi) sector, has secured $ii meg in seed funding.

According to an announcement shared with Cointelegraph, the circular featured participation from notable DeFi investment funds, including Signum Upper-case letter, LD Capital and Stacker Ventures.

The funds will be used to develop the "DAO2DAO" (D2D) product suite for PrimeDAO, with the platform prepare to feature a "Negotiation Interface" designed to enable coordination among DAOs.

The platform will allow the cosmos and ratification of agreements among DAOs featuring on-concatenation conditions. The D2D will also enable DAOs to hold shared buying over common avails, execute joint ventures, and collaborate in liquidity pools.

PrimeDAO volition partner with Balancer and DeFi Safety to build out the platform. The squad will also develop a seed and initial DEX offering-mode token launch platform alongside Balancer. The platform, dubbed Prime number Launch, is slated for launch before 2022.

PrimeDAO was launched in the quaternary quarter of 2022, describing itself as "a collective of DeFi builders, token engineers, and governance specialists." The entity published a lite paper in September 2022 describing its plans for a "decentralized ecosystem coordinator" platform and liquidity assemblage protocol.

While PrimeDAO is currently building on Ethereum, the squad plans to enable cantankerous-chain collaboration via D2D in the hereafter.

On Tuesday, the team announced an overhaul to its governance platform, with PrimeDAO abandoning DAOstack's Alchemy platform in favor of combining Snapshot and Gnosis Condom using Boardroom.

Related: DeFi regulation must non impale the values behind decentralization

Last calendar month, PrimeDAO likewise wrapped up its "Rate-athon" event, which encouraged users to contribute to its Prime Rating platform in anticipation of its v2 release.

From July iv through July xv, the outcome saw the customs submit 63 ratings for various DeFi projects through analysis of fundamentals and smart contracts. The equivalent of $15,000 was distributed to contributors who participated in the consequence.