Coordinape for Poolers 🌊🏆
- Coordinape for Poolers 🌊🏆
- What's Coordinape?
- How does it work?
- Should I join? How can I join?
- During an Epoch
- Opting Out
- Who to gift?
- What are uGMI tokens?
- On Governance
- Useful Links
Decentralized Payroll Management for DAOs
Coordinape is a platform for DAOs and communities to incentivize and reward contributors. These usually have no HR department or fixed salaries, so the decision-making is moved to the community.
Offers valuable insights about:
- What kinds of work is prioritized
- What the community finds most valuable
- Who are the key contributors in different areas
Enables everyone in the community to:
- See who is working on what
- Find opportunities for collaboration
- Reduce duplication of effort
How does it work?
Coordinape runs in epochs: periods of time in which contributors can send each other GIVE tokens. Every epoch goes for 28 days.
Every member of the Coordinape circle has a total of 200 GIVE tokens, that can be freely distribute to other contributors during the epoch.
All GIVE tokens of all contributors in the circle combined represent the total budget allocation. When the epoch ends all un-given GIVE tokens are “burned”, increasing the per-token-worth of the allocated GIVE tokens.
The GIVE each member has received will be exchanged for a pro-rata amount of the epoch’s budget and distributed in the form of uGMI tokens (find out more below).
Should I join? How can I join?
The PoolTogether community is using Coordinape to reward active members for contributing to the growth of the protocol.
To join the PoolTogether circle on Coordinape you can either…
- be nominated by an existing circle member
- or nominate yourself by sharing some of your contributions to the protocol in #coordinape.
If you are actively participating in our community someone will most likely ask you to join our circle. If that hasn’t happened yet and you feel you should be a part of the circle that’s fine! Don’t be shy to reach out in the #coordinape channel!
During an Epoch
- Go to https://app.coordinape.com/circles/9/
- Have you been contributing in the past month? Opt-in for the current epoch!
- Fill in your epoch statement
- Creates opportunities for collaboration
- Reduces duplication of effort
- Transparency about other compensation channels
- Consistently allocating small amounts works better than trying to remember and allocate it all at the end of the epoch 💡
- Leave a note as well, they seem to have a far bigger impact than actual incentives 💌
Members are required to opt-out from receiving GIVE if they are compensated elsewhere. This allows them to send GIVE to other contributors, but not receive it.
It’s encouraged to still allocate your GIVE even if you are opted out as it helps for a healthy decentralized decision-making.
Who to gift?
The purpose of our gift circle is to reward all the ways value is brought to PoolTogether. Over the course of an epoch, all members are encouraged to distribute their GIVE tokens to other members using whatever logic makes sense to them.
The goal is not to share money equally, give from obligation, or to pay people for spending time within the community. The goal is to reward valuable contributions. If someone doesn’t get any GIVE tokens, that’s OK. Maybe they were busy that month? Or maybe they aren’t bringing value. There is nothing wrong with that.
Use your own judgment in allocating your GIVE. In general, give them when you have a first-hand experience of people creating value. If you are working with someone on a project and you think they did a good job, allocate some GIVE!
Try not to allocate GIVEs based on who is “supposed” to get them or based on hype. Give them where you see value happen. Give them to people that help you or PoolTogether. Don’t worry too much about getting the numbers right, go with your heart.