<aside> 📌 Useful Links: 👉 Coordinape Website Application 👉 Coordinape Documentation 👉 Coordinape User Guide (Video) 👉 How BanklessDAO uses Coordinape (Video) 👉 Additional Resources

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What is Coordinape?

Coordinape is a resource allocation tool spun out of Yearn Finance. It relies on peer-to-peer token voting to allocate resources.

Coordinape is a platform for DAOs to easily and fairly distribute resources to contributors. Community grants, internal salaries, and special projects can all be incentivized and rewarded by the community itself. Instead of cumbersome voting or black box committees, contributors themselves can quickly and transparently reward the value they see being created. - Read more here.

How does Coordinape Work?

Coordinape lets members allocate a set number of tokens to their peers. Coordinape relies on Circles, Epochs, and GIVE tokens.

• Circles are a defined group of people that can participate in a round
• Epochs are time bounded periods in which members of a circle can allocate to each other
• Each member of a circle has a set number of GIVE tokens. They can allocate GIVE to members they would like to rewards. For example:
  • Jane has 1,000 GIVE tokens. She gives 500 tokens to Alex, 350 to Jake, and 150 to Nina.

At the end of an epoch, each member of a circle will have an allocation of GIVE tokens as their peers have allocated. These GIVE tokens are then converted pro-rata to the token that will eventually be distributed. For example:

• During an epoch, a total of 10,000 GIVE tokens are allocated. The DAO has allocated 500,000 BANK for the round. That means each GIVE token is worth 50 BANK. If only 5,000 GIVE tokens were allocated, each GIVE token would be worth 100 BANK. (Total GIVE allocations vary depending on how many people participate in the round.)

https://www.youtube.com/watch?v=J8oGun8EKDE

How does BanklessDAO use Coordinape?

Many guilds and projects often use Coordinape, but the DAO also holds a DAO-wide Coordinape round every month. If you are part of a project or guild, please ask them if they run coordinape rounds. We will discuss the DAO-wide Coordinape rounds below.

DAO-Wide Coordinape Rounds

Every month, BanklessDAO runs three Coordinape circles. One for Level 1 members, one for Level 2 members, and one for Guest Passes.

• Level 1 members have 35,000 BANK or an equivalent amount of LP tokens from certified AMMs
• Level 2 Contributors are members that have been nominated and voted into community leadership roles for going above and beyond (Read more here)
• Guest Passes are members that do not have sufficient BANK but are still active in the DAO.