The Gift Circle allows a group of DAO contributors to decentralize the payment process, identifying each other's value to the organization to create a compensation map.
An Epoch is a set period of time the group can perform the GIVE allocation process.
At the start of the epoch, each member of the Circle receives a number of GIVE tokens (Determined by the Circle Admin.) When the Epoch ends, all allocated GIVE tokens become locked, and all unallocated GIVE tokens are burned. Budget distribution is then formulated according to the percentage of total GIVE tokens that each member of the circles has received.
Joe receives 75 GIVE over the epoch from his colleagues,
Total GIVEs allocated during the epoch are 1500,
Total GIVE allocated during the epoch are 1500,
Total Contributor Budget is 50,000 USDC
Joe is sent 2,500 USDC (0.05 of Budget).
GIVE tokens represent a percentage of the Circle's total budget allocation for a given Epoch.
There is no limit to the number of contributors a circle can have. However, experience shows that circles with contributors in the 5 - 20 range seem to work best. For teams that have more than 20 contributors, we recommend creating additional circles based on the type of work those contributors are doing like: Developers, Community, Content, etc.
Over the course of the epoch, each member should allocate their GIVE tokens to other members using whatever logic makes sense to them, with the goal of making sure valuable contributions are recognized and compensated as accurately as possible. Learn More in the Docs
YES, just select Opt-Out on the Epoch settings Tab.