What is SourceCred and how do I opt in?

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.


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.


How to opt in!

At the end of the month, contributors that have opted in to receive payments and have at least 20 DAI accrued can redeem their balance for DAI on-chain. Scores and dai values are updated weekly. On-chain payouts are made typically on the first week of each month.

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.


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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Week 19 DAI Distributions - SourceCred trial
SourceCred distribution for week ending March 28th, 2021
Feed back regarding sourceCRED to drive the future of Maker rewards for community effort
SourceCred distribution for week ending May 23rd, 2021
SourceCred distribution for week ending April 18th, 2021
What Are Marketing/Adoption Goals For N America?
SourceCred distribution for week ending April 4th, 2021
SourceCred distribution for week ending March 21st, 2021
SourceCred distribution for week ending March 14th, 2021
SourceCred distribution for week ending March 7th, 2021
SourceCred distribution for week ending February 28th, 2021
SourceCred distribution for week ending February 21st, 2021
Scheduled grain distribution for week ending February 14th, 2021
SourceCred distribution for week ending Feb 7th, 2021
SourceCred distribution for week ending Jan 31st, 2021
SourceCred distribution for week ending Jan 24th, 2021 [Updated payout formula]
SourceCred distribution for week ending Jan 17th, 2021
SourceCred distribution for week ending Jan 10th, 2021
SourceCred distribution for week ending Jan 3rd, 2021
SourceCred distribution for week ending Dec 27th, 2020
SourceCred distribution for week ending Dec 20th, 2020
Weekly SourceCred distribution, work reaches ATH!
Weekly SourceCred distribution (payout increase)
Weekly SourceCred distribution, funding update
Week 25 DAI Distributions, SourceCred Funding
Week 24 DAI Distributions, SourceCred Funding (MIP13c3-SP6)
[Signal Request] Increase the YFI Debt Ceiling
Week 23 DAI Distributions, SourceCred Funding (MIP13c3-SP6)
MIP13c3-SP6: Financiación de SourceCred
Hi ~ new member here
Week 22 DAI Distributions, SourceCred Funding (MIP13c3-SP6)
Week 21 DAI Distributions, SourceCred Funding (MIP13c3-SP6)
Week 20 DAI Distributions - SourceCred trial
Week 18 DAI Distributions - SourceCred trial
MIP13c3-SP6: SourceCred Funding
Week 17 DAI Distributions - SourceCred trial
Week 16 DAI Distributions - SourceCred trial
Week 15 DAI Distributions - SourceCred trial
Week 13 DAI Distributions - SourceCred trial
Week 14 DAI Distributions - SourceCred trial
SourceCred distribution for week ending July 18th, 2021
SourceCred distribution for week ending July 4th, 2021
SourceCred distribution for week ending July 4th, 2021
Maker Governance Review: June 2021
SourceCred distribution for week ending June 27th, 2021
SourceCred distribution for week ending June 21st, 2021
SourceCred distribution for week ending June 13th, 2021
SourceCred distribution for week ending June 6th, 2021
SourceCred distribution for week ending May 30th, 2021
An even more sore point on liquidation
SourceCred distribution for week ending May 16th, 2021
SourceCred distribution for week ending May 9th, 2021, tithe change
SourceCred distribution for week ending April 25th, 2021

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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@sourcecred-trial-adm Does this count as message to @sourcecred-trial-adm?

Also: can we opt in with a Metamask address, which is on the xDAI network (custom RPC), to receive DAI?

Kind regards, Vincent

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+1 to this idea!

As far as I know, SourceCred is indeed also active on the xDAI network (they work with 1Hive, i.e., the Honey DAO). So this should be possible.

Hi @Vincent-M-E-Verheyen, as the post says, you will need to fill out the Google form linked to in the post, which will include a field to add your ETH address. We will then send you a DM on the forum to confirm the ETH address. While this process is a bit clunky, we did it this way so we could inform people of the implications of receiving cryptocurrency income, and receive their consent to that. Once enrolled (and you have >$10 worth of DAI accrued in your balance), we’ll send DAI to you on-chain. You can then use any wallet that supports DAI.

@iammeeoh, SourceCred is indeed being used to distribute rewards on the xDAI network for 1Hive, in the form of their community currency HNY (an ERC-20 token). SourceCred is not doing the distributions though. 1Hive is doing the distribution themselves using an Aragon DAO running on xDAI.
From SourceCred’s perspective, there is little difference what network is being used to distribute tokens. If the Maker community wanted to use xDAI instead, we could explore that. The xDAI network is relatively new however, and there are still some UX pain points being worked out. That could make the onboarding even harder than it already is :sweat_smile:.

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@befitsandpiper, can you update the Payouts section to mention that, while payouts happen weekly on the instance, on-chain payouts go out at the end of the month (typically in the first few days of the next month)? We’ve gotten a few DMs asking about this. Also, starting in Dec, the payouts will increase to $5k worth of DAI a week.

hey seth, I did update this here:

Is there something more you had in mind?

Ah, my bad. I just went straight to the Payouts section looking for that info. Maybe just move this to the Payouts section?

Hey @befitsandpiper, thats an awesome initiative! Somehow missed it out until became one of the top 10 contributors of the week :tada: :confetti_ball: :balloon:


Have you considered distributing it by utilizing existed privacy solutions?

Why do you want to do it privately ? The backbone of a nice DAO is transparency. Maybe you can hide this address , but who gained what should always be accessible.

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I agree fully here with @Cryptouf. It’s worth noting that it’s super simple to create new wallets, and while someone could always “follow the money” on the blockchain, it gets pretty difficult even if it’s just being layered a few times over. The transparency while definitely being essential for the MakerDAO community to function, also adds several benefits to the SourceCred program. We want users to be able to see who is being rewarded the most for their engagement and what they are bringing to the table. Moreover, the weekly rundowns (most recent one here) gives the community a chance to see how well the program is working. Without reveling the usernames of the people getting paid, it’s pretty hard to track how the program is doing with new members and you wouldn’t even be able to point to posts that SourceCred rewards without outing the users that participated in them. Privacy should always be of the upmost concern, but I think it’s reasonable to expect members who value their pseudo identity to take a few steps to obscure their primary wallets (and ID) rather than make it so the entire project cannot be subject to checks and balances.

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Yep, got the point. That makes sense. Probably those who want more privacy can do it by themself :smile:

@prose11 Yeah you can always create a new address!

I’ve been using part of my Sourcecred earnings to donate to Gitcoin.

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Tend to agree here. If better privacy is really something the community wants, we can definitely explore that. However, I don’t think hiding amounts people are getting would be a good idea. Without that basic level of transparency, the community would have a difficult time determining if the compensation was fair. Contributors can also participate pseudonymously if they wish, use a separate address from their main ETH address, utilize Tornado Cash or other privacy services, etc.

We also put the below disclaimer in the opt-in form letting people know the transactions are public, and that the ETH address they provide may be tied to their forum identity. IMO this gives people what they need to provide informed consent.

image

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New to the forum so maybe this has been discussed but are there measures to prevent gaming this system? For example, the cryptocurrency subreddit quickly went to shit when Moons were launched and karma farming was widespread. It actually had a negative effect on content.

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Good moderation. As long as the number of participants doesn’t get unwieldy we should be ok. Of course this is still possible in the future but so far we’ve managed well with the strong core community we have.

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What @Aaron_Bartsch said. It’s relatively easy to spot a gaming attempt in which case we can adjust/disable SourceCred. It’s a work-in-progress but we’re headed in the right direction.

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So it’s currently setup so trust level zero accounts don’t mint cred from likes, which prevents most brigading. On top of that, yeah, active moderation.

For what it’s worth we’ve been running SourceCred for months now, and I haven’t observed any negative outcomes thus far.

I’d encourage you to sign up if you haven’t already :slight_smile:

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Don’t mind me. Just farming my likes.

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