Hi everyone, please see below the much awaited details of the shineDAO partnership! It will be included in the agenda for the next core meeting.
shineDAO and SourceCred have been exploring a partnership wherein ShineDAO will use SourceCred as the rewards layer for:
Portfolio projects and corresponding communities
So far, a proof-of-concept trial for SourceCred has been conducted within shineDAO to positive reception by the community. For the next step, this proposal will be considered for ratification by both communities.
For shineDAO, the partnership has the following goals:
Decentralize compensation designs for contributions within shineDAO and within its incubator communities.
Reduce resource intensiveness of compensation design, strategy, implementation, distribution, and iteration.
Increase transparency for inter-community participation and contributions within shineDAO and incubator communities
For SourceCred, the partnership as the following goals:
- Get SourceCred to more users in the web3 space to grow the SourceCred ecosystem
This partnership was explored because of the value alignment between the shineDAO and SourceCred’s communities as well as a use-case fit. The values espoused by both communities toward a disrupting traditional wealth transfer structures wherein only the few centralized figures experience financial upside by distributing the financial upside of novel endeavors to the community and contributors who helped build it.
A proof-of-concept of SourceCred began with a shineDAO instance in late July, upon review in mid-August, there was general positive feedback from the shineDAO community for SourceCred as a rewards layer. For the next step, this proposal will be considered for ratification.
SourceCred has a % based Cred* flowback to the SourceCred treasury called a tithe. Currently the tithe is 5%, meaning that 5% of distributed Cred flows back to the SourceCred treasury. Through this partnership, shineDAO will receive:
Premium, priority tech support
A Cred flow to the shineDAO treasury per the following schedule
|shineDAO incubator community #||% of tithe Cred flow to shineDAO treasury||% of total cred|
|1 through 5||20%||1%|
|6 through 10||25%||1.25%|
|11 through 15||30%||1.5%|
|16 through 20||35%||1.75%|
For example, the 4th community added to the shineDAO incubation program will have 20% of the SC tithe flowed back to the shineDAO treasury, or 1% of the total cred (20% of a 5% tithe = 1% of total)
If ratified, shineDAO and SourceCred will work together in announcing the partnership for visibility within our combined networks.
This agreement stems from the wishes of both of the DAO’s outlined within this document. The terms defined here are going to respected and both parties will fulfill their duties on time. If there are any potential disagreements in the future, this deal may be renegotiated.
*Cred – within SourceCred, ‘Cred’ is a metric which tracks a user’s contribution history, generally, more cred = more token distributed to said user. Cred can come from other community members reacting or engaging with a contribution or a project with pre-allocated cred.