Today we're going to share a tool that every #DAO should use - @coordinape! This is a consolidated pod summary of 4 interviews done by @EthFugu highlighting the actual use cases of Coordinape in different DAOs: BanklessDAO, Masq Network, PoolTogether and Forefront.
Read on 👇
@coordinape @EthFugu What is Coordinape?
🔸 Decentralized payroll management for DAOs
🔸 At the end of every epoch, a project uses Coordinape to allocate points (called GIVE) to any members within the circle based on their proportionate contribution of work done
🔸 Open, transparent, decentralized
@coordinape @EthFugu Bankless DAO with @frogmonkee
What is @banklessDAO?
🔸 Steward behind the Bankless brand started by @TrustlessState and @RyanSAdams
🔸 A community that shares the values that Bankless embodies
🔸 Goal is to spread Bankless ideals through education, culture and Media
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams Why use Coordinape and when?
🔸 No idea how to reward funds in a fair manner without being top-down
🔸 Coordinape evaluates work the social way
🔸 Had > 80% satisfaction rate after using it in Season 0
🔸 Started using it within Bankless DAO up to 200-300 people
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams The right compensation model
🔸 Still figuring which model to use
🔸 Have Coordinape, fixed salary model, bounties and payment on a per-hourly rate as tools for payment
🔸 Treat these as modular stack of compensation tools of which Coordinape is just one of them
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams What problems does Coordinape solve?
🔸 Traditional org model of salaried positions does not work well in a DAO
🔸 Majority of people do work on a part-time basis in a DAO - hard be fair and equal across board
🔸 Coordinape relies on peers to decide - aligns with ethos of DAO
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams How many Coordinape circles does BanklessDAO have?
🔸 Not sure - DAO used it as a whole but projects and Guilds have their own too
🔸 In Season 1, there are at least a dozen circles
🔸 For Season 2, expects to see much higher figures. Probably around 50 circles
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams Bankless DAO circle
🔸 Held the record for the largest circle in Coordinape history
🔸 In Season 0, they have >200 sign-ups
🔸 In Season 1, they have >400 sign-ups
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams Likes/Dislikes
Likes
🔸 Empowering compared to centralised way to decide value of work done
🔸 Social aspect - possible to write a message to thank people
🔸 Transparency - everyone can see how much each is earning
🔸 Permissionless - can set up circles yourself now
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams Dislikes
🔸 Still need to manually distribute the tokens after GIVES are allocated
🔸 Will be good to automate it within the platform itself - saves time and effort
🔸 Coordinape v2 will have this feature and it will come out soon!
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams Recommended to other DAOs?
🔸 Yes - no reason NOT to use it if you're in a DAO
🔸 Matches the ethos of a DAO and is a powerful tool unless the DAO has a simplistic compensation model
🔸 Very fun, interactive experience too
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams Masq Network with @KauriHero
What is @MASQ_ai?
🔹 Decentralized privacy-based solution to build a mesh-network
🔹 Like a trad VPN with the benefits of Tor - allows users to surf the web uncensored
🔹 Goal - allow anyone to access any content online that cannot be traced
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai When did Masq start using Coordinape?
🔹 Using for the past 4 months
🔹 For them, each epoch lasts 2 weeks, runs over 4 days so anyone who contributed will be in the circle and they can allocate GIVE tokens to others
🔹 Circle starts small at 4, grown to the current 10 members
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai What happens when an epoch ends?
🔹 Used a feature where users can add skills onto their Coordinape profile to describe what they are strong at
🔹 Changed the name of their GIVE to MASQIES, a play on their $MASQ tokens
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai 🔹 He and a co-founder will look at the distribution and disperse reward tokens a few days later
🔹 Coordinape v2 will have distribution all within the app - will save time and effort on their part
🔹 Sometimes gas is too high, will have to wait for a better time to disperse
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai Best thing about Coordinape
🔹 Very easy to onboard people now by vouching
🔹 Vouching means new members are added in and if other members back the decision, the new members will be added to the circle to be eligible for rewards for work contributed
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai 🔹 Allocate map allows one to see visually in a social graph who are gifting to who and from where
🔹 Very easy to sign in and use
🔹 The team behind Coordinape really listened to all the feedback and requests for features to improve their product
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai How to make sure people allocate in Coordinape?
🔹 Made the whole thing fun like a game
🔹 Added Coordinape Discord bot, named it Masq Ape. Also added a Coordinape channel
🔹 Bot will show who had not allocated, so members will harass them to remind them to allocate
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai Recommended for other DAOs?
🔹 Yes - no brainer
🔹 Been transiting towards a DAO so Coorindape is a great platform to move towards that goal
🔹 Snapshot takes care of decision making, but until Coordinape comes along, there's no democratic way on-chain for budgetary management
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai PoolTogether with RegisIsland
What is @PoolTogether_?
🔸 A prize savings account in $ETH and $MATIC
🔸 Everyone puts their money in, pool them together and invests in DeFi protocols like @compoundfinance and @AaveAave
🔸 If you don't win the prize, you still keep the money
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave 🔸 Money will be rolled over to the next prize period
🔸 A good way to save money and have a chance at winning a lottery - up to $1M to be won per week
🔸 RegisIsland is a community contributor
🔸 There is a PoolTogether Inc and PoolTogether DAO
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave When do they use Coordinape?
🔸 Every 2 weeks
🔸 Been using it for past 3 months
🔸 Applied for a grant to continue for the next 3 months and was approved
🔸 Will be using it for the foreseeable future
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave What did he like best about it?
🔸 Simple to understand and use
🔸 Likes the Allocate map to see visually where the GIVES are going
🔸 Uses Coordinape to see what the skills of different people are, so he can find the right person to do certain things
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave 🔸 After using it, there is a tangible increase in the number of projects and contents created
Recommended to other DAOs?
🔸 Yes - morale for the community is way higher now after using it
🔸 On the day the funds are distributed, people are visibly excited
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave Forefront with Jihad @jaesmail
What is @forefront__?
🔹 Port of entry for Web3
🔹 Started off as a media DAO but branched out to social tokens and social DAO support by building tools for them
🔹 Onboard new members to Forefront DAO then channel them to other DAOS
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ 🔹 Has a good relationship with other larger communities, like @FWBtweets and BanklessDAO
🔹 Jihad is a core contributor - involved in Writers Guild and high level DAO strategy, treasury, ops and org design
🔹 Been in Forefront since Apr 2021 when the token was dropped
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets Transition towards Coordinape
🔹 Season 1 started after token was launched
🔹 Core team was planning the action items and DAO design for Season 1 and took about 2 months
🔹 People had an expectation they are going to be paid for their work
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets 🔹 They had a few bounties but no easy way for them to pay high-level design work by contributors
🔹 Coordinape allows retroactive pay after the work had been completed
🔹 Tried it for Season 1 and was wildly successful
🔹 Had gone for 2 epochs with it and both were very good
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets Seasons and Guilds
🔹 Seasons are time-boxed periods where high-level priorities were outlined for the DAO e.g education content library
🔹 Guilds are individual teams working on specific subsets of those priorities
🔹 E.g. Content work is delegated to Writers guild
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets 🔹 Seasons last for 3 months
🔹 Currently in an off-season period which allows them to deal with any changes like infrastructure issues within the DAO
🔹 Had grown so much after Season 1 so internal issues need to be handled
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets Customisation of Coordinape
🔹 No hard and fast rule to allocate GIVE
🔹 Did not change the name because it is aligned with their philosophy
🔹 Experimenting with new stuff like a live Coordinape round so that people can hear feedback on what they had given and received
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets 🔹 The notes part is fascinating where each person can write short comments to give feedback
🔹 Will be interesting if they do Coordinape rounds on a smaller scale at the Guild level
🔹 Might experiment with requiring everyone to give comments after allocating GIVE
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets Other ways to allocate rewards?
🔹 For peer to peer allocation, they use Coordinape
🔹 Have other tools like bounties, base contributor allocation, project-level allocation
🔹 Going to reduce the centralised allocation parts and increase the usage of Coordinape in the future
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets Best things about Coordinape
🔹 After epoch ends, he likes to look at the visualization of the social graph
🔹 To see who are giving to who
🔹 Can look at who the star members are to decide if more ownership can be given to them or give them higher financial upside
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets 🔹 A powerful tool to see what value transfer looks like at the DAO level
🔹 Validates existing assumptions and make changes depending based on the info
🔹 Received very wholesome, positive and meaningful comments
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets Recommended to other DAOs?
🔹 Yes - highly recommended
🔹 Have not met a DAO that should not be using Coordinape at least for some situations
🔹 Good for retroactive work done prior to the launch of the token, so people can focus on building the DAO and getting work done
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets Special thanks to @EthFugu for arranging these!
Everyone should follow him.
Heard he's the alpha guy in @CRE8RDAO for airdrops 😉
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets @CRE8RDAO Links:
🔸 Substack post: thereadingape.substack.com/p/aping-in-dao…
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets @CRE8RDAO Links
🔸 Bankless DAO:
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets @CRE8RDAO 🔸 Masq Network:
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets @CRE8RDAO 🔸 PoolTogether:
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets @CRE8RDAO 🔸 Forefront:
@coordinape @EthFugu @frogmonkee @banklessDAO @TrustlessState @RyanSAdams @KauriHero @MASQ_ai @PoolTogether_ @compoundfinance @AaveAave @jaesmail @forefront__ @FWBtweets @CRE8RDAO Like our work?
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~ End Thread
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