Back

Coordinape

Public
Investing
Multi-feature Platform
Recruiting
Contribution & Compensation
Governance & voting
Knowledge Management
Marketing
Community Management
Token Gating
Treasury Management
Fundraising
Token Creation

Helps DAOS incentivize participation and reward their most active contributors

WebsiteDiscordTwitter

Founder(s):  
The Yearn Team
Tracheopteryx
This post was written by 
Nelson Jordan
and edited by 
Justine Humenansky
 & 

Overview

What is it?

Coordinape allows DAO members to choose who they would like to financially compensate for their work. Their ‘Map’ tool reveals which contributors and types of work are most valued by the community.

What problem does it solve?

Financially rewarding DAO members can be convoluted and time-consuming; members must put forward proposals to complete certain jobs, which are then subject to a voting and approval process. This requires a lot of management and is difficult to scale, as it becomes harder to keep track of individual contributions.

Coordinape provides an alternative in which it’s up to each member to decide whose contributions should be rewarded.

How does it work?

Each member receives a fixed amount of GIVE Tokens and it’s up to each individual to choose who to give them to within their ‘Circle’ (a collection of members, most likely grouped by specialization, e.g. development.)

Members provide a description in their profile of what they’ve been working on during the current ‘Epoch’ (Coordinape’s terminology for a time period). 

At the end of each Epoch, those GIVE tokens are converted to GET tokens, redeemable for USDC. Any unallocated tokens are burnt. 

Here’s an example:

  • Sophie receives 50 GIVE tokens from the community for her contributions.
  • At the end of the Epoch, her GIVE tokens are automatically converted to GET tokens.
  • The total allocation across the whole DAO during this Epoch is 1,000 GET tokens.
  • The DAO decides that their total budget for this Epoch is 25,000 USDC.
  • Sophie’s 50 GET Tokens are 5% of the available 1,000 GET tokens, so she is sent 5% of the DAO’s total budget (1,250 USDC.)

How do I use it?

Admins add DAO members using their ETH wallet address. 

The ‘Allocate’ page shows members:

  • Who is eligible for GIVE tokens.
  • How many tokens they have left to allocate. 
  • Who they’ve already sent tokens to and for what amount. 

The ‘Map’ page shows members who is sending and receiving GIVE tokens, which helps for analysis and also provides transparency into compensation. This helps to prevent bad actors from gaming the system by sending tokens between themselves.

DAO Masters Insights

Why it's cool:

Coordinape gives power to the people, rather than keeping decision making in the hands of the few. Community members have ultimate power in deciding who should be rewarded. 

This tool keeps things simple, only showing the minimum amount of information needed to make a decision: who has been working on what. As a result, engagement may be higher on Coordinape than tools that use more in-depth processes.

Challenges:

For larger communities, it may prove difficult to understand what all members have been working on and how involved they’ve been over the last Epoch. This issue could be mitigated by creating smaller Circles (an approach facilitated by tools like Orca), but then serious consideration needs to go into what allocation each of those Circles will receive out of the total treasury and this would likely require a DAO vote of its own.

Words of advice:

Communicate how Coordinape works to your DAO, rather than expecting members to carry out their own research, as community voting for compensation is a relatively new concept. 

Remind your community to allocate their tokens before the end of each Epoch. Unallocated tokens will be burnt automatically and can’t be retrieved.

Expected future updates:

Getting Started

For a more in-depth look at how Coordinape works, take a look at their help docs.

For a brief overview, check out this YouTube video.

Watch an interview with two of Coordinape’s core contributors.

Back

A special thanks to  the backers  who made DAO Masters possible,
and to the $DAOMSTR Guild Members who worked dilligently to bring you daomasters.dyx