Author(s): #VYTOR#5181, #n00ble.eth#4205
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.
A proposal to implement Coordinape - a tool to help distribute rewards between regular contributors to the DAO in a transparent and decentralized way.
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:
- defi jesus#2761
- SQ X#9475
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 and related rights waived via CC0.
- Go to snapshot
- Go home