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 a number of non-divisible GIVE tokens (Determined by the Circle Admin)
Members allocate their GIVE tokens to other members over the course of 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,