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.
🔸 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
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
🔸 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
🔸 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
🔸 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
🔸 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
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
🔸 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!
🔸 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
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
🔹 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
🔹 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
🔹 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
🔹 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
🔹 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
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
🔸 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
🔸 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
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
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
🔹 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
🔹 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
🔹 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
🔹 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
🔹 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
🔹 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
Blockchain + Web3 is revolutionary, but what is limiting their potential to change the world are the challenges involved in indexing and accessing data on the blockchain itself. @ZettaBlockHQ aims to address this issue.
• Has a #Web3 startup team that operates globally
• The team is led by two experienced co-founders, Scott Shi and Chi Zhang
🔸Scott Shi (@scottshics)
• Has over a decade of expertise in engineering
• Worked at companies like @Uber, @salesforce & EA
🔸 Chi Zhang
• Was a product manager at @databricks
• Holds a PhD from @UCBerkeley
• Experience in building data and #AI products
• Proven track record of supporting data-driven
organizations
He discusses anthropology, Web3 and other subcultures, and many other interesting topics with @chaserchapman in this episode of On The Other Side 👇
Background
🔹 An anthropologist
🔹 Is an artist
🔹 A DAO contributor
🔹 Has a Substack, but it’s not really a newsletter, but a cultural report
Substack
🔹 It’s more an anthropological collection of a subculture
🔹 Trying to record the why and the what behind the different projects
🔹 Important to have a bird’s eye view to see the connections
🔹 Is an obsessively curious person. Have always been searching for cool stuff
Today, I'll be sharing the book highlights of @peterthiel's Zero to One. Peter Thiel is a serial entrepreneur who helped to start up many companies, like @PayPal and @PalantirTech, and invested in Facebook.
If he has something to say about startups, I want to know. Read on 👇
There are 2 kinds of progress:
• Horizontal (1 to n)
• Vertically (0 to 1)
E.g. Horizontal progress is about getting existing products distributed to more places (globalization), while vertical progress is about coming up with new products (tech).
From the book's title, you should be able to deduce which is the better kind of progress. Going from zero to one will be hard, but the rewards will be way better than going from 1 to many.
👉 Look for companies that go from 0 to 1 instead of 1 to n.
🔹 People remember the year for all the terrible stuff that happened
🔹 Important to remember the positive events too (e.g. the merge)
🔹 The merge is a transaction inclusion time decrease
🔹 Have multiple zk-EVM implementations that will have a mainnet launch in 2023
🔹 @signinwitheth has seen massive gains in adoption
🔹 Cryptocurrency payments worked during the invasion of Ukraine
🔹 Have always recommended @KeePassXC or @Bitwarden:
🔸 KeePassXC: A completely offline tool. Reserved for extreme scenarios
🔸 Bitwarden: A secure password manager that synchronizes your password database across multiple devices
Now
🔹 Online password managers have advanced quite a bit
🔹 Every reputable password manager encrypts everything on your machine before it goes into the database
🔹 Does not recommend LastPass, 1Password, Dashlane
🔹 For people new to password managers, he recommends Bitwarden