How To Use Coordinape For Cryptex Brand And Community Initiatives
Coordinape is a new tool used by DAO’s to reward contributors for their efforts. Cryptex has a wonderful community of people that aren’t afraid to roll up their sleeves and get things done!
Please note, this is only applicable for brand and community initiatives at Cryptex, anything dev related will be rewarded in a different way. For all of the brand and community doers, below are the steps to follow to submit your contributions for the current epoch 6/15/21–7/30/21.
First, you will have to send us your wallet address so one of the team members can add you to the Cryptex Community Circle. Chat with Matz, Brendan or Cris on discord to help with this.
Once the team has added your wallet address, you are ready to submit your contributions for this epoch. Head over to https://coordinape.com/ and connect your wallet.
Then, it’ll ask you to select a circle, select Cryptex / Community.
Next, input:
- A brief summary of your contributions & the value it created for the DAO
- The time you spent on it
- The range in USDC you are asking to be rewarded
You only have 140 characters, so please be as to the point as possible!
***Please note, what you’re asking to be rewarded and what you could get rewarded may differ and all depends on how the committee allocates rewards***
Make sure you select Opt In (This MUST be selected in order to receive rewards!).
Then click Save Epoch Settings.
Lastly, select the users you’ve interacted with during your contributions. Then click Continue with this team / Save team list.
You’ll see your contributor profile and others from the community on the final page. You are able to edit your profile (your contribution summary) up until the end of an epoch.
The Logistics Of Rewarding Contributors
This is new for all of us, and as time goes on we will refine this process, so be easy on us 😊
$150 USDC per give (100 maximum gives) for this epoch (6/15/21–7/30/21)
How we got to $150 USDC per give for this epoch:
Originally, the quarterly budget for brand and community initiatives was: $9,000 USDC + $6,000 USDC = $15,000 USDC max quarterly budget
You can view the full proposal here: https://forum.cryptex.finance/t/cip-4-cryptex-community-grants-program/67
However, there was an update to the original quarterly budget
The proposal received unanimous FOR votes in the poll, which would re-allocate the dev rewards to the brand and community, and include a bonus reward in CTX.
You can view the upgraded proposal here: https://forum.cryptex.finance/t/upgrade-community-grants/97
New Quarterly Budget
With the upgrade, brand and community initiatives have a $30,000 USDC max quarterly budget ($9,000 USDC + $6,000 USDC + $15,000 USDC)
Since this current epoch is half a quarter (6/15/21–7/30/21), we have a max epoch budget of $15,000, valuing each give at $150 USDC.
The CTX bonus will not be included in the give allocation on Coordinape. It is still being discussed on how to distribute it, we are thinking it will be handled at the end of each quarter.
Allocating Gives (Added 7/28/21)
The people eligible for allocating gives, will be people who are active in this epoch (6/15/21–7/30/21).
There is a total of 10 people. These people are: Matz, Brendan, Cris, BFresh, Cryptouf, Joe-M-4, Meta, Mkat5, Raphizz, Tigerbalm.
How to Allocate Gives (Added 7/28/21)
Each person will receive 100 gives to allocate. 1 give represents $150 USDC. You will then go through the list on Coordinape and allocate gives based on the value you feel each person provided!
A few things to note:
- People have listed their asking amount in $USDC however, you can give less, exact or more based on the value you feel they provided to the DAO and the community.
- You do NOT have to allocate all 100 gives. We ask each of you to be mindful of the budget, the number of people contributing and the value they created.
- You are not able to allocate gives to yourself
Receiving Gives (Added 7/28/21)
After the epoch is over, Cordinape sends out a report to the admins which we will share with the community. I am going to use BFresh as an example here, with hypothetical figures so we can walk through this.
In this example, BFresh received 30 gives from 9 people (Remember you cannot allocate gives to yourself) which is averaged and rounded, coming to 3 gives per sender. BFresh would end up receiving 3 gives, which is $450 for this epoch.
You do NOT receive the total amount of gives, you receive an average based on the entire group of senders.
Any Questions?
The Cryptex team is here to make sure we are all on the same page, feel free to reach out to us on discord to answer any questions you have to better help you understand how this will work!
