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DAOTOOL101 #3: Coordinape for Decentralized Reward Allocation
0x3317
February 8th, 2022

Author: 0xAA | People DAO (Twitter: @0xAA_Science)

Editor: enfin#5116

What is Coordinape?

Coordinape enables the decentralized and collectively managed allocation of rewards to DAO contributors. It was invented by Yearn Finance and adopted by DAOs, including Gitcoin, Bankless, and now PeopleDAO.

Key features of Coordinape

Reward: Gift Circles allow DAO members to collectively reward each other making community payments more equitable and transparent, using GIVE tokens.

Recognize: Circle contributors directly recognize each other’s value, building a more cohesive and productive community.

Transparency: Understand how value moves through your organization and move more decisions and resources to the community.

How to use Coordinape

Workflow: 1. create gift Circle → 2. member onboarding → 3. create epoch and let members allocate GIVE → 4. distribute rewards according to GIVE

1. Setup Gift Circle

A gift Circle is a group of DAO contributors that will receive the rewards. For example, the PeopleDAO POAP Circle will include contributors who participated in POAP planning, design, and distribution. Go to app.coordinape.com/admin and start a new Circle. You need to fill in your Username, ETH Address, Circle Name, Organization Name, and Circle Admin Contact. Then launch the Circle.

2. Coordinape Onboarding

After launching the Circle successfully, you can add DAO contributors to the Circle. Fill in their name, # of GIVE, Contributor ETH address, whether they are Admin, can allocate GIVE tokens, and included in the reward.

3. Start Epoch and distribute funds

After onboarding DAO contributors, you can start a reward epoch. For example, suppose PeopleDAO wants to reward POAP contributors with 10,000 $PEOPLE. At the start of the epoch, each contributor receives 100 GIVE tokens. During the epoch (5 days in the pictured example), contributors allocate GIVE tokens among contributors according to their effort. At the end of the epoch, PeopleDAO will distribute the reward according to GIVE tokens that contributors received.

Coordinape also provides a beautiful contributor graph to illustrate the GIVE relationship between each contributor.

Summary

Coordinape allows DAOs to allocate financial rewards to their contributors, without HR or top-down management. It also provides a beautiful social graph to prevent Sybil-attack.

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