GFACT Epoch Example
Pre-Epoch Preparations
Alice, Bob, and Charlie are active GFACT holders and participants in the Coordinape circle. They have been contributing to different aspects of the protocol: Alice focuses on software development, Bob on marketing, and Charlie on project management.
Beginning of the Epoch
The epoch begins, and all three are aware that they will need to allocate 100 points to their coworkers by the end of the epoch based on their subjective evaluations of each other's contributions.
Throughout the Epoch
-
Alice has been particularly impressed with Bob's marketing campaigns which have significantly increased the protocol's visibility. She also appreciates Charlie's efficient project management that kept her development work on track.
-
Bob sees value in Alice's technical contributions which have enhanced the protocol's functionality. He also acknowledges Charlie's role in managing projects but feels Alice's work has had a more direct impact on his marketing efforts.
-
Charlie has been coordinating closely with both Alice and Bob, but he's been especially reliant on Alice's quick turnaround on software development to meet project timelines.
Allocation of Points
-
Alice decides to allocate her 100 points as follows: 60 points to Bob for his exceptional marketing work and 40 points to Charlie for his project management support.
-
Bob allocates 70 points to Alice, recognizing her critical software development work, and 30 points to Charlie, valuing his project management but seeing Alice's contributions as more directly beneficial to his work.
-
Charlie allocates his points evenly, giving 50 points to Alice for her development work and 50 points to Bob for his marketing efforts, valuing their contributions equally in the success of his projects.
End of the Epoch and Claiming GFACT
At the end of the epoch, the 1000 GFACT tokens are minted. The distribution is based on the points allocation:
- Alice receives
366.67GFACT based on receiving 110 points (60 from Bob and 50 from Charlie). - Bob receives
366.67GFACT based on 110 points as well (60 from Alice and 50 from Charlie). - Charlie gets
266.67GFACT from the 80 points allocated to him (40 from Alice and 30 from Bob).
Before they can claim their GFACT tokens, each must delegate their incoming balance to others based on topics they feel others are more knowledgeable in. Alice, knowing Bob's expertise in marketing, delegates her marketing-related voting power to him. Bob delegates his software development-related power to Alice, trusting her expertise. Charlie, seeing value in both areas, splits his delegation between Alice for development and Bob for marketing.
Required Delegation Before Claiming
- Alice delegates to Bob for marketing decisions.
- Bob delegates to Alice for software development decisions.
- Charlie delegates half to Alice for development and half to Bob for marketing.
Claiming GFACT
After delegating their voting power accordingly, each claims their GFACT tokens. They are now prepared to use these tokens for voting in decisions relevant to the protocol, with their delegated voting power reflecting their trust in each other's expertise.
Removal from the Circle
If any of them had failed to allocate their points or claim their GFACT by the deadlines, they would face removal from the Circle. However, in this case, all three remain active members, ready to contribute to the next epoch with their newly minted GFACT and adjusted voting powers based on their delegations.
This cycle repeats each epoch, continuously adapting to the changing contributions and expertise within the Coordinape circle, aiming to distribute decision-making power in alignment with the community's trust.