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Gift Circle

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.

The Gift Circle

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.

Example

  • 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).