When a project completes, the gross profit is sent Deep Work's treasury.
Collective members can vote to distribute the treasury amongst holders of DEEP tokens.
"Profit Share" is used in name only, the following actions take place:
- Collective members vote to distribute treasury funds.
- Collective members declare any funds received as income (not dividends or share of profits).
For a profit share to happen a funding request must be made:
If you meet all the following conditions, you receive a share of the distribution.
Your share is calculated as:
SHARE = your DEEP token holding / Total of all collective members who meet conditions token holdings.
We've created a whitelist so we have a maximum confidence all community members are declaring income and paying appropriate taxes. You'll be required to agree to terms and submit the following data:
- Name (or business name)
- Email address
- Wallet address where you have DEEP tokens
- Wallet address to send DAI
- Country of tax residence
Whitelisted can be completed on the link above. You only need to complete this once and will receive any future profit share by governance vote.
To receive the token, you must have worked in Deep Work and opted-in to receive the DEEP token at the point you were paid. Any collective members who received the airdrop are consider team members / workers.
If you meet the conditions above, and your share of the distribution is below $1, we do not complete a payout. This is because if we paid out all payments below $1 the collective would be unsustainable because of gas costs.
Amounts below $1 are distributed to shares above $1.