Using Coordinape for rewarding DxDao contributors

Using Coordinape to Reward DXdao Contributors

First built for Yearn Finance, Coordinape is a platform that enables DAOs to scale their communities with tools that recognize and reward contributors, incentivize participation within the community, and manage resources.

See here for how Coordinape is used - Coordinape - Decentralize Payroll for the Modern DAO - YouTube

How can DXdao Use Coordinape?

The idea for this proposal came as a result of John’s post that rewarded DXdao contributors with retroactive bonuses for the awesome work that is being completed within our DAO. DXdao should continue to reward our contributors and take things one step further by utilising Coordinape for the distribution process. The ability to recognise and be recognised for good work is distributed to the community, which changes the dynamic of contributor rewards from a top-down model to a decentralized model.

This dApp is one of the most decentralised ways to reward contributors for the work and contributions they are making to DXdAO. Coordinape works by first individually allocating GIVE tokens to contributors and encouraging contributors to redistribute GIVE tokens to others they feel are doing an exceptional job.

For example:

Keeping the same annual budget of 60K (subject to change), this is how it might work for DXdao.

We create 6K GIVE tokens for our DAO with each GIVE worth 10 USD

Splitting the 6K tokens equally amongst our DXdao contributors (31 contributors with worker proposal as on 26-August), each contributor gets approximately 200 GIVE tokens.

Once they receive the 200 GIVE tokens, our contributors can distribute tokens to other contributors that they feel have been performing instrumentally in the workings of the DAO / products.

The gifter can decide to gift his 200 tokens to any number of contributors with any number of the 200 tokens.

For example, I can decide to give my tokens out in the following way:

  • 100 GIVE tokens to DXer 1 for their work on Omen.
  • 60 GIVE tokens to DXer 2 for their work on Aqua.
  • 20 GIVE tokens to DXer 3 for their work on Swapr.
  • 20 GIVE tokens to DXer 4 for their work on Governance.

What does this accomplish?

This is a decentralised way of recognising awesome work that is being done by the contributors at DXdao. We hardly compliment contributor’s work and the DAOtalk posts are far more engaging when we question or scrutinize contributions. Even though onchain worker proposals and payment proposals pass with votes, there is nothing that beats Keep it up! Thanks for doing this! Love working with you! This initiative was awesome and has helped us loads! This can now be contributed through GIVE tokens.

Everybody appreciates recognition, and Coordinape would help highlight all the contributions, big or little, that make an impact on the functioning of our DAO.

If we are looking to scale to a 100 member DAO, we should start to recognise and communicate the small efforts that are being made by each contributor!

This way everyone gets an opportunity to reward and be recognised in the most DAO way possible!

Note that we should consider Coordinape with another decentralized way to award for KPIs. This should be discussed in a separate post and can be considered in allocated a budget for the Coordinape Program as well as a KPIs program.

Thanks to @Melanie @sky and @Tammy for helping with this proposal. Please comment and provide feedback and if approved, we will use this for the period October to December.

I have never used Coordinape, so we might end up having a few changes while in operation.
For the first proposal, we would also want to propose that this only for people that has an active worker proposal and then extend it to the greater community once we have the ball rolling.

6 Likes

Thanks for revisiting this initiative @0xVenky !

First proposed to DXdao in May of this year, I agree that Coordinape is the ideal method to figure out additional rewards around value creation in a ground up approach for contributors but also community members.

Coordinape is a proven tool being used by DAOs. It’s a solid method of figuring out ways for decentralized collectives to reward value creators around specific initiatives that many groups have been spending time figuring out.

Many other communities/DAOs/projects are already using tools for this type of initiative.
Coordinape is being used by many leading communities in the space: Yearn, CREAM, Sushiswap, and Gitcoin…

It also ties in well with the ethos of decentralized collectives. It makes sense for a global decentralized collective to be using this ground-up community driven consensus for this type of activity and assigning awards.

A really cool added benefit with Coordinape is that the community starts to discover and learn from value maps - a visual method of seeing how and where value creation is derived and where it flows.

Looking forward to it.

1 Like
  • “changes the dynamic of contributor rewards from a top-down model to a decentralized model”. In my view, that is valid for other orgs, but doesn’t really apply to DXdao.
  • If feel that the ‘successful shipping’ bonus that was recently initiated should work just fine
  • personally, being on either end of GIVE might make me uncomfortable, and could be a bit of a burden

With all of the above said, I’d still be willing to try it as I can only hypothesize at this point.

3 Likes

Love the concept.

Only question is whether we’ve also considered other tools for decentralized value recognition, like Cred.

If so, why are we moving forward with Coordinape?

I raise Cred because it has many of the same benefits of Coordinape (i.e. contribution/contributor graph) while relying on a transparent algorithm for rewarding contributions.

Relying on individuals to credit contributors may recreate some of the issues with top-down proposal formats – i.e. contributors who work more closely with central nodes in the organization and have more visible work may be rewarded in excess of the value of their contributions because of availability bias.

With Cred, we can also weight certain types of contributions – which could be interesting as a way to tie decentralized value recognition with Governance 2.0 initiatives.

That being said, Coordinape is more lightweight than Cred. And as @0xVenky and @sky mentioned, Coordinape is used by many leading decentralized communities. So I could see the advantages.

2 Likes

Hey, We should definitely look at different frameworks and see what fits the DAO, but the reason for picking Coordinape was just that it was simple to implement. Maybe we should look into Cred for the next reward round if this works out and can see potential differences and see what benefits the DAO. :slight_smile:

1 Like

Nice, simple is good. Very cool stuff! Excited to see how people use it.