As part of our ratified governance token proposal, 10% of the initial $CODE token allocation (1,000,000) will be distributed to early contributors of the DAO. This page outlines the member-driven process for distributing those tokens to early contributors.
To manage the distribution process, we’ll be using Coordinape. Coordinape allows members to distribute $CODE directly to other members. For more information about Coordinape, read their Decentralized payroll management for DAOs blog post.
Here’s how the process works:
Members self-nominate to be included in the Early Contributor process. If you haven’t done so yet, please fill out the Developer DAO Coordinape Form.
Members that submit the self-nomination form are added to the DAO’s Coordinape Circle. This Circle represents all members eligible for the Early Contributor distribution.
Gift Circles allow DAO members to collectively reward each other making community payments more equitable and transparent.
When we’re ready to begin the voting process, we’ll start an Epoch. Epochs represent the period of time in which members can distribute GIVE to other members.
Each member in the Circle receives 100 GIVE. GIVE represent a fraction of the total $CODE distribution (see GIVE as $CODE distribution mechanism for more information).
Members distribute their GIVE to other members that they feel have provided valuable contributions to the DAO.
Circle contributors directly recognize each other’s value, building a more cohesive and productive community.
At the end of the Epoch, the community will review the results looking to resolve any issues to ensure that Early Contributors receive these rewards. This will pass through governance.
The Early Contributor $CODE allocation will be added to the Airdrop claim to members based on the amount of GIVE they’ve received.
DAO members who have been actively during the early days of the DAO should join! Even if you have not had time to contribute to the DAO, other members rely on your votes! You should only join if you know of early contributors who have spent time building Developer DAO and deserve these rewards.
Join our Circle and stay opted-out. This will allow you to distribute $GIVE while not receiving.
The Circle has been launched! You should get access to the Circle as soon as possible. If you haven’t submitted it yet, please fill out the Developer DAO Coordinape Form. Members that submit this form will be added to the Circle periodically.
Once you are in, opt-in to the Epoch if you have contributed and would like to be eligible to receive votes. Fill out your contribution information and make sure your name displays as you would like.
The Early Contributor Distribution Epoch begins on 3/7 at 12:00am UTC, running for 7 days to 3/12 at 12:00am UTC. Note that it ends right at 3/12 UTC, but not including that day.