ShineDAO><SourceCred Partnership Proposal

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.

Premise:

shineDAO and SourceCred have been exploring a partnership wherein ShineDAO will use SourceCred as the rewards layer for:

  • ShineDAO community

  • 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.

Goals:

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

Details:

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%
21+ 40% 2%

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.

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Very exciting news!

@scrabbleboy Not to steal the Sunlight from ShineDAO, but, we are also considering using SourceCred to power our DAO. How do we go about getting an official partnership proposal?

https://weinvest.money

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What an introduction! :laughing:

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I’ve read this multiple times in both community channels. It’s really neat to witness the development of this partnership. I feel spoiled because I’m in ShineDAO enough to catch the community energy…It’s pretty great!

The ShineDAO<>SourceCred Partnership Snapshot has closed… :face_with_monocle: Has everyone seen the results?

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My absentee :+1:t3: since I’m off the server right now. Great work Bo! Glad to see this taking off.

Unanimous!

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Apologies for getting to this so late but this is such great news!! Thank you so much for your work with this @scrabbleboy. Really excited to hear about this partnership.

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Hi Wayne, if you haven’t gotten a chance to connect with someone from our community, I’m glad to sit down and speak with you, let me know either here or Discord.

CLAIRIFICATION: this is scrabbleboy, I just accidentally posted from my personal discourse account.