The Happiness Survey identified “I feel compensated for my contributions” as the third weakest statement of all. Our Coordinape incentive system feels broken. Coordinape isn’t perceived as a great incentive to contribute/pay it forward by getting involved anymore.
On top of that
- The circle suffers from a general allocation fatigue
- Contributions are often not shared on Coordinape
- Poolers opt out while they are actually contributing
I am confident that we can fix this by tweaking some of our timing, settings and rules around Coordinape. Let’s bring Coordinape back to its old glory!
Through Coordinape contributors are getting paid for work that was done in the past. Currently, this work is compensated with option tokens you can redeem in the future. That practice created a disconnect in incentives.
The Coordinape circle has proven that it can be a powerful onboarding tool. We want new contributors to feel rewarded early.
Right now contributors might have to wait up to three months to redeem their POOL and be eligible to enter our hodlers-hangout, participate in governance voting, or join the Polygon POOL pool.
Suggestion: Let’s switch back to POOL.
Vesting makes sense for teams we want to foster long-term alignment with. We could consider adapting options tokens for our team budgets instead.
We currently have a giant circle with 54 members. For larger organizations smaller circles are recommended. This goes back to:
- Work Opaqueness: The larger a Circle is, the less accurate the team member’s assessment of each other may be. Members tend to be the MOST familiar with the teammates’ work they interact with the most often.
- Various Areas of Expertise: Members do not always have experience with the effort required of all disciplines within the organization. For example, a developer may not know the rigor required of a marketer managing an active campaign. Due to this lack of experience, they may tend to under-allocate to members doing marketing.
This aside, multiple circles do introduce new problems. It is harder to track who receives funding from other sources (double-dipping) and each circle needs a dedicated admin.
Suggestion: Let’s iron out the details of how multiple circles can work together, before adding complexity.
We experimented with different epoch durations. Four weeks turned out to be too long and took a lot of the excitement away.
For choosing an epoch duration there are mainly two things to consider:
- Recency Bias: Members tend to allocate based on their recent experiences. If the epochs are too long, members may forget about work completed at the beginning of the epoch.
- Process Fatigue: Every epoch requires contributors to record contributions and allocate to team members. In a large circle, a frequent allocation process could lead to burnout.
Two weeks seems to be ideal if we:
- keep up with frequent updates and payouts
- get members to routinely enter their contributions
Suggestion: Let’s bring it back to two weeks!
We don’t have many. Are there any? We should improve that and make it more clear what is allowed and what isn’t.
Suggestion: Create some simple rules.
These could serve as a baseline:
- You must have contributed previously to join the Coordinape Circle
- Epoch Statements are mandatory (better use contributions & statements as TLDR)
- Other sources of income within PoolTogether must be disclosed in the Epoch Statement
We can enforce our rules by opting out members that don’t comply.
A very easy fix is our communication. We should communicate more in all directions: The current state of an epoch, updates, and contributions.
As a contributor, it feels good to get regular and timely updates about Coordinape. We can honor that more. Coordinape can get a segment during our Community Call every two weeks.
Contributors should feel encouraged to share what they are working on. PoolTogether has celebrating wins in its DNA - so we should go hard on celebrating personal wins and contributions. Don’t hold back from sharing what you’re doing with others on Discord!
Coordinape can be overwhelming. I am creating better onboarding documentation to help new contributors get started.
Coordinape offers the feature to add contributions and an epoch statement - we should use it more!
- Enter your contributions regularly to Coordinape so you don’t forget about it.
- Better overshare than undershare! Let others judge the impact of what you did, no matter how big or small.
- The Epoch statement can function as a TLDR of all of your contributions.
I’m inviting all coordinape circle members to share their opinion. What has been great, what hasn’t been so great, and what can we do to improve?
An open discussion should help us to move forward together. This way we can make sure Coordinape has an impact on anyone who wants to contribute to PoolTogether.