General Magic Spells 🪄Welcome to the General Magic Monthly Newsletter! 🎊
General Magic Spells 🪄General Magic Helps Scale Deep Funding on Optimism: Advancing Governance & Resource Allocation with …
Ever since Vitalik Buterin introduced the concept, Deep Funding has been gaining traction as a new way to support public goods and developer tools. Now, Optimism is joining the movement, launching its own Deep Funding initiative to experiment with more effective and scalable funding mechanisms.As part of Optimism’s Retro Funding: Dev Tooling Mission, the Collective is exploring ways to improve the evaluation algorithm for developer tools. While there’s solid data on how Dev Tools are used, th...
General Magic Spells 🪄General Magic Monthly Newsletter
GM, frens! 🌞It’s been a rollercoaster out there (what else is new?), but through all the noise, builders are still shipping, creating, and making an impact. Here’s a look at what’s been happening this month in General Magic and across the Giveth Galaxy.👇Public Goods Project of the Month: Predicate 🌟Predicate is a network that enables developers to define programmable, on-chain transaction policies using modular components known as Predicate Functions. These functions are immutable code seg...
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General Magic Spells 🪄Welcome to the General Magic Monthly Newsletter! 🎊
General Magic Spells 🪄General Magic Helps Scale Deep Funding on Optimism: Advancing Governance & Resource Allocation with …
Ever since Vitalik Buterin introduced the concept, Deep Funding has been gaining traction as a new way to support public goods and developer tools. Now, Optimism is joining the movement, launching its own Deep Funding initiative to experiment with more effective and scalable funding mechanisms.As part of Optimism’s Retro Funding: Dev Tooling Mission, the Collective is exploring ways to improve the evaluation algorithm for developer tools. While there’s solid data on how Dev Tools are used, th...
General Magic Spells 🪄General Magic Monthly Newsletter
GM, frens! 🌞It’s been a rollercoaster out there (what else is new?), but through all the noise, builders are still shipping, creating, and making an impact. Here’s a look at what’s been happening this month in General Magic and across the Giveth Galaxy.👇Public Goods Project of the Month: Predicate 🌟Predicate is a network that enables developers to define programmable, on-chain transaction policies using modular components known as Predicate Functions. These functions are immutable code seg...
Subscribe to General Magic Spells 🪄
>100 subscribers
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If you’re a DAO looking for a better way to invest in your community and build a culture of giving and gratitude, look no further than Praise.
This article will explain what Praise is all about, to give you a better understanding of this amazing one of a kind system.
Praise is an open-source system developed by Commons Stack with the technical help of the General Magic team. Praise fosters a culture of giving & gratitude, rewards contributions, and engages the community throughout the process.
That’s great, but how does it work?
Praise integrates with existing tools and platforms in the community. At the moment Praise is available mainly through Discord but we can expect it on more platforms in the future. It can also be used to recognize contributions made outside of any platform.
To recognize a contribution, a member of the community simply needs to interact with the Praise bot and dish out “Praise” to a member. This is done in a decentralized way, so any member of the community (with praise giving rights), can praise any other member. All of the “Praise” that a member receives is then tallied up by the team and then scored using a logarithmic fibonacci sequence point system based on how valuable they estimate that particular contribution was. Once the sum of all the Praise a user receives is counted, the community can choose to reward them how they see fit (this could be in the form of community tokens etc.).
Praise enables the community to recognize the full scope of value creation.
Over the last few months the Praise system has been tested and evaluated in communities such as TEC — the Token Engineering Commons, Commons Stack and Giveth.
The key benefit of the Praise system is creating a “Culture of Gratitude” in a way that recognizes and appreciates the contribution of members in a decentralized way.
What is the role of Praise?
The Praise process consists of four steps: Acknowledgement, Quantification, Analyze as well as Allocation and Distribution.
The first step is pretty self-explanatory, it represents a recognition that members of the community give to each other for contribution, but the whole Praise is not set to stand just for words instead of that we measure scores.
Quantifiers are responsible for assigning numerical values to praise data. To get a better view of this we have an example for you: Imagine you doing a pretty awesome job navigating all the project activities for the past few months and you are a welcoming nice community member to all the newbies. You could be Praised for both but your score doesn’t have the same numerical value. This is basically what Quantification is all about, to give different scores based on guidelines decided by the community as well as Quantifiers subjective interpretation of the impact of each Praise (for this the default is the fibonacci scoring scale).
The point in setting scores is to analyze them and reward the ones that received Praise. Praise is built to work in tandem with RAD — Rewards Analysis Dashboard, which allows us to analyze praising behavior, quantification, and token distribution in depth. Each allocation is calculated based on an algorithm that is predetermined by the community. The last step is set to distribute token rewards to everyone based on their Praise score.
Praise Deployment process
Since Praise is an open-source product, any community can deploy it. However, if you would like the full Praise experience, we recommend you reach out to the Commons Stack team.
Praise deployment can take around three months, and it comes not just with the technical implementation, but also the just as important cultural implementation as well, to make sure your community uses Praise to its full potential.
Learn more about Praise and get support deploying it to your community:
🙏
If you’re a DAO looking for a better way to invest in your community and build a culture of giving and gratitude, look no further than Praise.
This article will explain what Praise is all about, to give you a better understanding of this amazing one of a kind system.
Praise is an open-source system developed by Commons Stack with the technical help of the General Magic team. Praise fosters a culture of giving & gratitude, rewards contributions, and engages the community throughout the process.
That’s great, but how does it work?
Praise integrates with existing tools and platforms in the community. At the moment Praise is available mainly through Discord but we can expect it on more platforms in the future. It can also be used to recognize contributions made outside of any platform.
To recognize a contribution, a member of the community simply needs to interact with the Praise bot and dish out “Praise” to a member. This is done in a decentralized way, so any member of the community (with praise giving rights), can praise any other member. All of the “Praise” that a member receives is then tallied up by the team and then scored using a logarithmic fibonacci sequence point system based on how valuable they estimate that particular contribution was. Once the sum of all the Praise a user receives is counted, the community can choose to reward them how they see fit (this could be in the form of community tokens etc.).
Praise enables the community to recognize the full scope of value creation.
Over the last few months the Praise system has been tested and evaluated in communities such as TEC — the Token Engineering Commons, Commons Stack and Giveth.
The key benefit of the Praise system is creating a “Culture of Gratitude” in a way that recognizes and appreciates the contribution of members in a decentralized way.
What is the role of Praise?
The Praise process consists of four steps: Acknowledgement, Quantification, Analyze as well as Allocation and Distribution.
The first step is pretty self-explanatory, it represents a recognition that members of the community give to each other for contribution, but the whole Praise is not set to stand just for words instead of that we measure scores.
Quantifiers are responsible for assigning numerical values to praise data. To get a better view of this we have an example for you: Imagine you doing a pretty awesome job navigating all the project activities for the past few months and you are a welcoming nice community member to all the newbies. You could be Praised for both but your score doesn’t have the same numerical value. This is basically what Quantification is all about, to give different scores based on guidelines decided by the community as well as Quantifiers subjective interpretation of the impact of each Praise (for this the default is the fibonacci scoring scale).
The point in setting scores is to analyze them and reward the ones that received Praise. Praise is built to work in tandem with RAD — Rewards Analysis Dashboard, which allows us to analyze praising behavior, quantification, and token distribution in depth. Each allocation is calculated based on an algorithm that is predetermined by the community. The last step is set to distribute token rewards to everyone based on their Praise score.
Praise Deployment process
Since Praise is an open-source product, any community can deploy it. However, if you would like the full Praise experience, we recommend you reach out to the Commons Stack team.
Praise deployment can take around three months, and it comes not just with the technical implementation, but also the just as important cultural implementation as well, to make sure your community uses Praise to its full potential.
Learn more about Praise and get support deploying it to your community:
🙏
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