Implement Coordinape to distribute compensation every quarter to regular contributors

Status: Draft

Author(s): #VYTOR#5181, #n00ble.eth#4205

Created: 04/1/2022

Buzzed Summary

A proposal to implement Coordinape to distribute compensation every quarter. The total amount to be distributedwill be $1,000USD per member of the group per quarter.

Abstract ‌

A proposal to implement Coordinape - a tool to help distribute rewards between regular contributors to the DAO in a transparent and decentralized way.

Specification ‌ Overview ‌

We propose the implementation of Coordinape to distribute rewards in a regular and clear way for regular contributors. Coordinape is a web app where you log in with your eth wallet. There users on a team get an amount of tokens defined by the admin of the team. At the end of each working season, members can allocate the tokens as they want depending on thier thoughts of how much work was done by other team members. Tokens not allocated to anyone get burned and the next working season the supply of tokens is completely replenished. Here is the link to Coordiape documentation.

The distribution should occur every quarter so we can have less expenses with gas.

The total amount to distribute is $1,000USD for each member of the circle (group of regular contributors), so if we have 5 people in the circle, the total amount given to contributors should be $5,000USD, to be divided amongst them all. Each member gets 1k to distribute as we want between all participants here there is no need to distribute then all. There will be a time period during the quarter where this allocation occurs- we suggest 1 week at the end of each quarter.

As an example:

We have 5 contributors. User A allocates the number of tokens that is equivalent to 500USD to user B and 0 to all others. No one else allocates any tokens so only user B is paid $500USD at the end of the quarter. Meaning, from the $5,000USD we had to spend we are only using $500USD. In the next quarter everyone gets new tokens (that represent the value of $1,000USD) to split for that period. It should be noted that any individual cannot allocate any of the tokens to themselves, preventing contributors from paying themselves.

This BIP will work in parallel to [BIP-011] Reward For Contributors as that one may be used to reward people that aren’t on the Coordinape or just want to do 1 time job.

For adding new persons to the Coordiape, there is a function on the app that lets an existing member propose someone and then everyone on the group can vote. If the vote get 50% of all members, then that person is added in the next quarter. This would mean that the total amount available rises $1,000USD.

For the initial team we propose to add the following bears:

  • alexpanda#0420
  • CryptoChicca#9581
  • defi jesus#2761
  • gth420.eth#2847
  • LoopingNoob#8883
  • mesk85#1911
  • n00ble.eth#4205
  • SQ X#9475
  • VYTOR#5181

Test Cases ‌

The Yearn team at the Bankless DAO use this app to reward their contributions. We have used some of those implementations to come up with this proposal.

Copyright ‌

Copyright and related rights waived via CC0.

  • Go to snapshot
  • Go home

0 voters

2 Likes

I think is better to tie it to position and not persons. Wouldn’t it be better to say that honeypotmanager gets xxx, mod members gets xxx etc. What happens if one of the members of the list has a lot going on IRL and can’t participate so much? Then it would be better to have someone else cover their responsibility for that time. We need at least to specify what the different team members will be doing?
Also 1% royalties goes to founding team, so why do pay outs to them? Not much now, but 10x the current volume that’s quite a bit. Should be motivation enough

3 Likes

Some of the founders have bought bears which should make them equal in the DAO for voting and governance. We also need the founders for this project to be a success, however I don’t think anyone would ever take our community focus seriously if any founders are receiving any funds from the DAO. The optics of this would be horrible. I think this would be a complete deal-breaker for many people. Actually, as I think about it, I personally would never invest any serious money in any project where I thought the founders were double dipping from the community fund.

2 Likes

Good feedback above, I’ll let respective people answer it. For clarity, when a value is attributed in coordinape, it is for people to give, so if people sit on it, they don’t benefit, it just removes itself from the equation. So for example, if I have a value to give, I give it to who I think is deserving. If someone didn’t contribute much that month, it allows me to give more to someone else and less to that person. Hope that makes sense. It is more a process to enable better tracking and visibility. But I hear what you’re saying above @hacktivist.eth and @Aurelius and I’ll let @Vitor @Mesk85 or @DefiJesus respond to those questions.

1 Like

Replying to @hacktivist.eth and @Aurelius about some of the founding team being on the Coordinape, I do see what you mean and you guys are right. There is a option on Coordinape to Opt-Out meaning that member are not allowed to receive but only give. And what about using that option for life and for the founding team? Because since we are always involved in projects, we can make a good evaluation of other contributors. Let me know what you guys think

2 Likes

I just wanted to say that I read this yesterday and tried to think of a suitable response (sleep on it), but I’d echo the points made by @hacktivist.eth.

2 Likes

Coordinape help to distribute rewards in a non strict way, meaning if a member don’t do anything in one quarter, we will probably get nothing. Is up to the others decide how much value that member had bring to the BBH in that quarter relative to what we had done.
Relative to specify the responsibilities of each one you are right, but since we have a lot going on and are just a few, we don’t have specific position to each, everyone just grabs what they can do, although we have specific areas that we are more likely to help, maybe that can be our position.

1 Like

A couple thoughts:

  1. It is my understanding that the funds that currently “go to the founding team” are used for upkeep for the serves we use (IFPS, governance forum, etc.). I’m sure @OverAnalyser’s audit of the funds will paint a pretty clear picture of this.

  2. I agree on the point about the founders getting paid. There was a payout to them during the initial mint (50%) so that should cover the work that is done for a signifcant amount of time. Maybe we put an exact date on it for when they can start recieving additional payments? 1 year? 2 years? Size of Honeypot reaches $XXX? I don’t know…just an idea. Because at some point they are also part of the DAO and should be rewarded for contributions outside of their intial duties.

1 Like

Completely agree, would be a sure fire way to kill this project.

per the 1% to founding team. given the founders are members I think we should strip that and make it all into the honeypot.

I echo this and I think we should strip founders roles and royalties. mostly because they themselves calim they founded but are no longer founders. etc etc.

upkeep should be paid out of a separate fund, not a founders fund. and as i have echoed as well. i think founders doesnt exist anymore in the sense. bears are bears. their is IMO 0 reason royalties, no matter the size should continue to flow to founders funds… given the idea and scope of the DAO project.