DAOs have revolutionized our facility for coordinating decision-making via coin-voting, but the shortfalls of these broad consensus-finding mechanisms have become very apparent as we’ve put them to the test across hundreds of communities over the past year.
While DAOs are often used to manage growing protocol's many operational decisions such as hiring and compensation, the average coin-holder often lacks the time or expertise to add useful input to a system and is most often either abstaining or rubber stamping initiatives based on their trust, or lack of trust, in the core team.
DAOs solve one half of the problems decentralized networks require, defining governance. Coordinape is a DO (decentralized operations) platform that aims to solve the other half: a structure to make operational decisions within a team of contributors. If a DAO is the decentralized version of a board of directors plus shareholders, a DO is the decentralized version of the executive team plus contributors themselves.
We are testing Coordinape in phases to understand the social dynamics. For the first phase of its development, Coordinape is being built to tackle a key pain-point for Yearn: community grants. We have tested our proof of concept compensation mechanic, the “gifting circle,” over several trial periods at Yearn, including dedicated circles for specific groups and processes. Now, we are opening the alpha version to select partners for their use.
Coordinape is currently implemented off-chain, to allow rapid changes and iteration as we research the best applications of core ideas. Simultaneously, we are working on an on-chain version, to be implemented on a layer 2 EVM compatible side-chain as we launch our Beta offering.