How Praise works
Step 1 - Acknowledgement
All community members (or select ones) are allowed to praise any other community members’ contributions. When members get involved in the process, the full spectrum of subjective value being created can be captured.
Step 2 - Quantification
A group of quantifiers are responsible for assigning a numerical value to the praise data. Scores are given based on guidelines decided by the community as well as their subjective interpretation of the impact of each Praise. For example, how much is facilitating a workgroup meeting worth compared to let's say being welcoming to a new member? All the parameters are configurable and subject to community governance feedback or voting.
The quantifiers work asynchronously at their own pace. Each quantifier only needs to process a small amount of praise data, ensuring a manageable workload for a task that otherwise can become tedious.
Step 3 - Analyze and allocate
When all praise data for a period has been quantified, token allocations are made to those who have received Praise. Allocations are calculated based on an algorithm that the community has predetermined.
Praise is built to work in tandem with the RAD - Rewards Analysis Dashboard - which allows for deep analysis of the praising and quantification behaviors and the token distribution. Calculate a Gini index or compare distribution to previous praise periods; the dashboard allows for this and many other kinds of analysis with modular metrics that can be applied.
Experience shows that holding open analysis sessions with the community builds acceptance and avoids groups and individuals feeling left out from getting their fair share of compensation. It also provides a rich cultural feedback loop which can help the community to maintain alignment with their mission.
Step 4 - Distribution
Configure the RAD to export a token distribution in any format. The RAD is built in a modular fashion with plugins available for the most common distribution platforms such as Disperse.app, Aragon, 1Hive Gardens, etc.