PoolTogether has one of the most active communities in DeFi. We have a bunch of people who contribute to the protocol on a daily basis. A lot of these contributions go unpaid. More in depth contributions may be paid through a grant or the passing of a governance proposal, but smaller contributions currently are not rewarded. Things like answering questions in discord, providing insights on community calls, participating in governance forums, etc could be considered small contributions. These contributions though small still provide value to the protocol. Coordinape offers a simple way to reward people. Coordinape provides a way to create our earlier discussed “Core Contributors Group”
Coordinape allows people to give tokens to whoever they think is providing value. At the beginning of each epoch people in the PoolTogether circle are given an allocation of tokens. throughout the epoch you are able to give out the tokens that are allocated to you. these funds would come from a grant through the grants committee. Coordinape currently operates off chain. at the end of an epoch a spreadsheet is generated that enumerates the token distribution.
It is also possible to opt out of receiving tokens during the epoch. For example, a PT Inc employee could decide they want to be able to give tokens where they see fit without being eligible to receive tokens as they are already compensated.
My plan is to apply for a grant soon and give this a trial run for a period of three months. Each epoch would be one month. The collab land bot would be used to handle the actual distribution of tokens. this bot already provides a way to distribute tokens without gas costs to the program. each user would be able to pay their own gas fees to claim their tokens. this process eliminates the need to build something new to handle distribution.
Anyone would be able to join the circle and receive tokens throughout the epoch. However, allocations to give would be reserved for currently active members. One may receive an allocation to give in the following epoch if it is determined by the group that said member is deserving. This is to prevent collusion and a sybil attack.
Several people have already joined the PoolTogether circle and have been distributing fake tokens to try out the service. However, participation has been low. I think with actual money available people would participate.
My orignal thought is 5-10K$/epoch. I would like feedback on this idea and the proposed amount.
see below for a link to a medium article from Coordinape for more information.