We aim to incentivize the community members to help the DAO and support each other through effective collaboration and teamwork. For that, we suggest using coordinape.com .
What is Coordinape
Coordinape is a tool to scale your community with tools to reward contributors, incentivize participation and manage resources.
Coordinape allows DAOs to vote on who is providing the most value, thereby we measure in a decentralized way what activities and individuals should be compensated the most.
Every workstream or product should define the budget needed. From there, tokens can be distributed, at a regular interval - say at the end of the month. These tokens are distributed according to the value creation in the DAO and the added value to the teams. Each contributor gets allocated a number of $GIVE to distribute to their fellow team members according to their contribution.
Read more about Coordinape
If you ask everyone in the ecosystem who is doing good work, their collective answers will give a good sense of where the value is.
This also provides valuable insights for the DAO about what kinds of work are prioritized, what the ecosystem finds most valuable, and who are the key contributors. These insights provide the team with the key elements and observation to develop and adjust our strategies leading us toward our long-term vision.
Additionally, the shared visual display also enables everyone in the community to see the daily focuses and find opportunities for collaboration or reduce duplication of effort.
- Our ecosystem is too big to control everything.
- Usually, teams observe a popularity game or a learning curve for new contributors. As new contributors join us we might see key contributors thrive, but new or introverted contributors to tend to fade into the background for the long-term or for some time.
- Long-term members, stability vs engagement. We need to ensure that ecosystem contributors feel safe with their compensation.
- Separate the cycles into smaller teams. Each product or initiative will have its own core team and budget to allocate between them.
- Core members get rewarded with bonuses. Full-time contributors receive basic compensation and they get rewarded with Coordinape on top of that to ensure that they feel secure and motivated to contribute more.
We propose to separate working groups from 1-10 people. This will help the teams control and manage their resources due to their size and the collaboration between all members. Each team gets allocated a budget and at the end of the month, every team member has to vote and distribute their rewards.
We, in the ecosystem, suggest a basic compensation of $2k/individual and a bonus of 500-1000k/person under the ecosystem.
It is worth mentioning that each workstream or product can choose a different number or ratio between their rewards and basic compensation.
Mainly ecosystem contributors who are compensated by the DAO every month.
Note: In the Mix & Match section we suggest using the tool for Onboarding Community Contributors too.
Proposed working groups
- Prime Launch
- Prime Deals
- Prime Pools
- Prime Rating
- Proposal Inverter
We can use Coordinape in collaboration with Dework or Wonderverse either to onboard people to different workstreams to increase our cross-collaboration.
Cycles: Cycles are separated into 3 different categories.
Each product squad gets a specific budget that the team members can distribute within the group.
Team members get a basic compensation and on top of that, the team decides on their BONUS.
2. Onboarding Cycle
To tackle the learning curve or the popularity issue we suggest treating the onboarding working group as a separate cycle.
Every month a specific budget is distributed to the onboarding WG to allocate and reward community contributors. The community contributors can only receive rewards from the onboarding team.
What we propose is utilizing the voting mechanism Coordinape provides to reward tasks instead of early contributors. This will help create an objective process until the community contributors get familiar with the DAO, and vice versa.
The community contributors will get compensated in D2D. When the contributors reach a threshold of 200 D2D they will be able to apply for a full-time position or they will be able to participate in the DAO initiatives(introduced below), supported by the DAO.
What is an initiative?
An initiative is an effort created by the workstreams or DAO contributors aimed to support and promote the products, vision, and mission of PrimeDAO. This could include the beginning of a podcast, book club, etc.
When creating a new initiative, a proposal with the team, budget, goal, and an action plan have to be in place. If and when the proposal is approved, we can use Coordinape to fund and manage the process. The team inside the initiative will allocate their budget independently and according to the efforts. The initiative should have at least 1 lead overseeing the process and after 1-2 months the DAO will re-evaluate the initiative.
Steps towards Implementation
Decision on who is involved in the Coordinape structure.
Decision on the number of funds to allocate for the rewards. I would suggest starting with a small amount and increasing every month so that using of the tool grows organically.
Setting up the Coordinape basic structure
Create an analytics board
Assign the responsibility to allocate the funds to the teams.
Create a tracking board to moderate the process
Beginning of July
Hopefully, this structure will increase the decentralization in our DAO and incentivize contributors to take action. feedback and suggestions are always welcome, most specifically if the above proposal affects you.
What tools and processes do you suggest for scaling coordination? What should be explained further on the above proposal?
DAOs - The New Coordination Frontier
8 Ideas for DAO Work @ Maximum Coordination ™️ - 8 Ideas for DAO Work @ Maximum Coordination ™️ - 🤖 DAO Governance and Vision - Gitcoin Governance
Coordinape: An overview - https://forum.tecommons.org/t/coordinape-an-overview/616
Reward Systems - Reward systems - Google Slides