Coordinape’s core feature (central to the Alpha version) is the Gift Circle.
The Gift Circle allows a group of DAO contributors to decentralize the payment process, identifying each other's value to the organization to create a compensation map.
Compensation is done through a process of Gifting.
An organization can stand up to any number of Gift Circles, adding members through a decentralized process. Then, during a set period (the Epoch), the group can perform the Gifting process as follows:
- At the start of the Epoch, each member of the Circle receives several non-divisible GIVE tokens (Determined by the Circle Admin)
- Members allocate their GIVE tokens to other members throughout the Epoch to reward them for the value they bring to the Circle.
- Members can adjust their allocations up until the end of the Epoch.
- They can add notes to their allocations if they wish
- At the end of the Epoch, all allocated GIVE tokens become locked (now called GET tokens), and all unallocated GIVE tokens are burned.
- Budget distribution is then formulated according to the percentage of total GET tokens that each member of the circles has received.
- Joe receives 75 GETs over the Epoch from his colleagues,
- Total GETs allocated during the Epoch are 1500,
- The total Contributor Budget is 50,000 USDC
- Circle Admin sends Joe 2,500 USDC (0.05 of the Budget).