Coordinape Curation Game
Curation = Finding high quality things before others can find it by using your personal unique perspective.
Game = Something fun.
==> Coordinate Curation Game = Intersubjective process for finding high quality things in a fun way.
Two of the core principles of crypto are permissionlessness and censorship-resistance, meaning that anyone can do anything they want. Anyone can launch a token, a project, a DAO.
So in all this spam, how do you find something worth spending your time and effort on?
This is the core purpose of curation. At Debt DAO we have created a permissionless Marketplace for providing credit to DAOs. Any DAO can create a loan and anyone can lend to them. This game focuses on curating DAOs worthy of taking out loans, ones that won’t rug pull, get hacked, fail to repay or implode on themselves.
Do you think you have what it takes to find great DAOs in all the noise out there? Then join our curation game ;)
- 1.Running a curation Game is cheaper and has a higher success rate than hiring BD people
- 1.The Coordinape model is the most effective because it's directly integrated into your community/social graph and provides information on those being curated as well as the curators themselves.
- 2.Physical Kong chip for referral tokens is the best medium because it requires actually having a relationship with the person you curate. We think this social/trust based component, especially in crypto for BD, will be effective at having a high close rate.
- Identify ~3 high quality borrowers (>$100k/month revenue, > 3x DSCR (revenue coverage of debt repayments) that will be excited to launch with Debt DAO this month
- Identify ~1 high quality lender (>$10M assets to allocate to DAO lending) that will be excited to launch with Debt DAO this month
- Identify ~5-10 high quality curators that join our network to earn $DEBT by recruiting lenders and borrowers
- Engender deep convo between people about their own projects and how it can relate to Debt DAO → If you want to earn referral rewards then you have to know what Debt DAO is, what we want, and listen to the person you’re talking to to see if they’re worth GIVEing
DAOs that build products and protocols and already have significant success and product market fit. They have revenue and are looking for financing to take their DAO to the next level.
For example, our first line of credit was $2,500,000 in size for REDACTED Cartel based off their CVX bribing rewards. They used it build out their Pirex product which now generates revenue for them and is synergistic with their Hidden Hand product which also generates significant revenue. They not only fully repaid the loan, but because the loan was in UST, they profited from the depeg.
Mandate to earn yield on stable coins and/or ETH.
Ideally cryptonative investors e.g. DAO treasuries, stablecoin providers, or asset manager DAOs but off chain TardFi funds are ok too if that’s the best you can do.
People interested in actively playing the Curation Game to scout out good borrowers and lenders.
You might work at a service DAO, be a DAO treasury manager, run a VC fund, or be in any other role that gives you insights into the internal workings of DAOs and what makes a DAO actually functional instead of the shitshow known as the UK Government.
Debt DAO focuses on revenue-based financing for growth stage DAOs. We are looking to curate the best DAOs to take out a Line of Credit to fund their operations, asset acquisitions, product development, protocol owned liquidity, or any other value adding activity that will increase their protocol/DAO’s revenue.
- Ability to create exciting new products that people love using
- Low/no token emissions directly to product users
- High retention of capital and users through the bear market
- "Debt Service Coverage Ratio" (DSCR) is the ratio of revenue to expected loan repayments and is a common metric for evaluating how risky a loan is. >3x is ideal so for every $1 of interest accrued they make $3 in revenue
- Diversified revenue streams from multiple products and earned in multiple tokens
Low burn rate
- Low/no token emissions at all
- Reasonable spending on contributors salaries at an individual level and in-aggregate
Strong treasury balance sheet
- >10% of treasury in stablecoins or ETH
- Low correlation between assets in treasury and broader market
- “Gearing” is the total amount of debt to assets on the balance sheet. < 20% is ideal so $20 debt for every $100 in their treasury.
Lending investment mandate
- Desire to generate interest income through providing liquidity throughout DeFi
- Yield on stablecoins and/or ETH
- Ability to lend at longer durations such as 1 year
- Cryptonative investors
- Asset manager/investment DAOs
- DAO treasuries
- Stablecoin issuers
- Off-chain investor
- TardFi funds
- Boots on the ground
- DAO treasury manager
- Service DAO contributor
- Venture investor
- Desire to improve DAO operations
- Knows cryptonative credit will usher in a new era of DAO treasury management
- Interested in facilitating education for potential borrowers and lenders
If you are like us and don't want to do work, you can curate other curators by delegating to them and giving them your Kong chip. Since we are in the process of figuring out "what to look for in a curator" ourselves please let us know what your thoughts are so we can steal them :)
If you give or receive multiple tokens for being a curatee or curator, you can spread them across rewards for your category or concentrate them on one reward.
Curators will only be rewarded if the borrower DAO they curate is selected as a good candidate by the Debt DAO team or if a curated lender actually lends to a deal on the Debt DAO marketplace.
You can redeem your GIVE tokens for:
- $DEBT token airdrop
- Exclusive swag by MetaFactory
- Access to our private discord
- Other early community rewards
- 1.Moving up higher in the Debt DAO due diligence waitlist
- 2.1-1 support to setup your Spigot contract which will greatly reduce your interest rate and the amount of collateral you will need to post.
Lenders that are curated and lend to a Line of Credit or Pool on the marketplace can redeem your GIVE tokens for:
- 1.Priority deal flow with first right of refusal. You'll see the most curated borrowers before we propose them to non-curated lenders
- 2.Access to our private discord for all the alpha about borrowers and our platform
- 3.Feature requests. You ask for it, we'll make it within reason.
- 1.Come meet the Debt DAO team at the Hydration Station in DAOist Bogota. We’ll be there bright in early if you want to get a hands-on tutorial or an early start
- 2.We will register a [Kong chip](TK link to Kong) to you and record your wallet address and twitter handle for future comms and airdrops
- 3.You will receive your Kong Chip. Each Kong chip has an NFC in it. If you need help remembering Curation Game rules, hold your Kong chip to your phone and this docs page will pop up to help guide you.
- 4.You go do u and frolwic like a ___[Bob insert some other British funny thing here too]___
- 6.Once you find THE project you want to curate, give them your Kong chip
- 8.Await further instructions from Debt DAO. We continuously evaluate and rank all the curators, borrowers, and lenders on our Curation Game Leaderboard and start notifying people that rewards can be claimed
- 1.Get your DAO’s financials prepared before the event. Know your burn rate, current treasury balance, revenue per month, etc etc
- 3.Stop by the Hydration Station in DAOist Bogota to talk with Debt DAO about your financing needs
- 4.Get ready to shill (but not too hard) and describe your ideal deal to curators at the event
- 5.IF you receive a Kong chip, come by the HydrationStation and talk to the Debt DAO team
- 6.Await further instructions from Debt DAO. At some point after devcon we'll evaluate and rank all the curated borrowers and lenders and start notifying people that rewards can be claimed
- 1.Give thought to the range of terms you would give to a borrower under various structures
- 1.Interest Rate
- 1.Drawn Rate
- 2.Facility Rate
- 1.% of cashflows
- 2.% min collateral ratio
- 3.Stop by the Hydration Station in DAOist Bogota to talk with Debt DAO about your strategy
- 4.Await further instructions from Debt DAO. At some point after Devcon we'll evaluate and rank all the curated borrowers and lenders and start notifying people that rewards can be claimed
- 1.Kong Chips - $ 1,345
- 2.Branded coin boxes - $800? (We couldn’t order in time :’(, only had this idea 3 weeks ago!)
- 3.Airdrop to Curators - XX.XX% $DEBT
- 1.$10,000 - $15,000 / month
We love open source and collaborative learning. We forked this idea from Coordinate and we hope you fork it from us and improve it even more. If you do, please let us know! We’d love to update these docs for others to learn.