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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 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

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).
Last modified 2d ago
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