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 eachother’s value to the organization to create a compensation map.

This is done through a process of Gifting.

The Gift Circle

An organization can stand up any number of Gift Circles, adding members through a decentralized process. During a set period of time (the Epoch), the group can perform the Gifting process, as follows:

At the start of the epoch, each member of the Circle receives 100 non-divisible GIVE tokens Members allocated their GIVE tokens to other members over the course of the epoch to reward them for the value they bring to Yearn 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,

  • Total Contributor Budget is 50,000 USDC

  • Joe is sent 2,500 USDC (0.05 of Budget).