Opting in to Sourcecred/Wth is SourceCred?

With the extension of the Maker SourceCred trial, the team running the Maker SourceCred instance has received feedback that it is difficult to find information on opting in to receive payments and about the trial in general. This post is meant to be a useful resource for information on SourceCred and how it pertains to Maker. First off, we will cover opting in for those who already know how SourceCred works and are looking to get paid for contributions.


How to opt in!

At the end of the month, contributors that have opted in to receive payments and have at least $10 of DAI in accrued payouts can redeem their balance for DAI on-chan.

To opt in, please fill out: this form

This indicates your desire to participate in the trial. You will need to provide an Ethereum address to send payments to. Note that transactions are public and that the payment will be reflected in the UI (e.g. the balance); i.e. the ETH address you provide may be tied to your forum identity. Once you have submitted your info, @sourcecred-trial-adm will send you a direct message to validate your submission.


What is SourceCred / Why should I be interested?

SourceCred is a way of paying contributors based on the value they add to a community. In the context of MakerDAO, using SourceCred has been proposed as a way to compensate contributors and workers post Foundation. As a forum member, you can be earning DAI for your valuable contributions to the community today! This is achieved via a clever algorithm to determine what work is valued by a community and through the power of having internet native currencies, such as DAI.
@LongForWisdom talks about the initial motivations behind the trial here.
And @s_ben wrote a post on the initial trial kickoff here.

If you are interested in going deep into the rabbit-hole on SourceCred their docs can be found here.


Payouts

You can view your cred at the SourceCred instance here. This is not trivial to convert into dai, but will give you a rough idea of how your contributions compare to that of other members of the community. Most recently the Foundation increased weekly payouts to $2,500 / week distributed according to the SourceCred algorithm to all opted in contributors.

Moving forward, this instance will be the source of truth for Cred scores and DAI balances. Cred scores are now automatically updated every 24 hrs, and DAI balances are updated every week.

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Nice post @befitsandpiper

Lets add that there is an announcement below from @LongForWisdom the sourceCRED trial period will be extended by 3 months and then governance will directly fund this (can’t wait to see that MIP btw).

Announcement

And week 13 DAI distributions so people who want to opt in can see what others are getting.

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