TL;DR:

• Developer DAO now has an ERC-20 governance token, $CODE.
• The $CODE token contract address is token.developerdao.eth: 0xb24cd494faE4C180A89975F1328Eab2a7D5d8f11.
• The claim contract address: 0xbd82Cd2f7C2B8710A879580399CFbfF61c5020B9.
• Tokens can now be claimed at claim.developerdao.com.
• No rush; you have until February 18th, 2023 to claim tokens. Unclaimed tokens are added to the community treasury.
• Nothing you do today affects this claim amount; snapshot and early contributor rewards are complete.

What

Developer DAO is proud to introduce its governance token, $CODE, with an initial supply of 10 million tokens. Entry into the community now requires possession of either 400 $CODE tokens OR a Developer DAO genesis NFT. Governance rights (i.e., voting on snapshot) will pivot immediately to the governance token.

Why

The $CODE token was created to scale membership in the DAO and as a means to reward contributors with greater ability to govern the DAO. Season 1 budgets are primarily denominated in $CODE tokens and snapshot governance voting is updating to one $CODE token, one vote.

How

If you're eligible, you can claim your $CODE tokens at claim.developerdao.com.

⚠️ Scammers never a take a day off; make sure to verify the URL and contract address when you claim. ⚠️

Eligibility includes:

• Base membership rewards (25% of total supply)
  • 400 tokens — genesis NFT holder at snapshot
    • Requires possession of the NFT at the time of snapshot at block #13612670 on November 14, 2021, the block at which the public mint sold out
    • Possession of multiple NFTs still results in one 400-token reward
  • 417.21 tokens — pre-Season 0 participation
    • Requires a governance vote or a Town Hall POAP prior to the snapshot
• Early Contributor rewards (10% of total supply)
  • Up to 40,000 tokens – Early contributor recognition
    • Peer recognition via Coordinape for contributions made through Season 0

If you obtained a genesis NFT after the snapshot and did not participate in the Early Contributor Coordinape round, you are not eligible to claim $CODE tokens at launch. However, your NFT will continue to grant membership in the community and access to the Discord server. Opportunities to earn $CODE tokens will be available starting in Season 1.

Distribution Details

The $CODE token has been a long time coming. A bit of context:

• December 2021 – Prior to the initial token proposal, a mutual token grant was agreed to with Gitcoin, eventually helping Developer DAO to reward its first full-time contributors.
• January 2022 – The governance token is proposed.
• March 2022 – An amendment redirects some of the advisor pool into scholarships to join the DAO.
• August 2022 – The result of the early contributor rewards round is ratified and The Developer DAO Foundation is adopted.

In summary, the 10 million initial token supply is distributed as follows:

• 35% – community members
  • 25% – base rewards
  • 10% – early contributors*
• 10% – founding team, advisor pool, scholarship pool
  • 6% – founding team*
  • 2.45% – advisor pool*
  • 1.55% – ~387 scholarships
• 5% – mutual token grant with Gitcoin
• 50% – community treasury

*The founding team, advisors, and top-rewarded early contributors are subject to vesting schedules.

Season 1

The launch of the $CODE token coincides with the kick-off of Developer DAO’s Season 1. Guilds and projects have denominated Season 1 budgets primarily in $CODE tokens and will have many opportunities for members and eventually the broader public to earn those tokens via committed roles or one-off bounties.

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Interested in partnering with Developer DAO on a Season sponsorship, one-off event, or project? Reach out.