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 Bonus Scheme" is used in name only, the following actions take place:
Collective members vote to distribute treasury funds.
There is a mechanism in place to decide how much each collective member gets. The mechanism is an internal database that could change at anytime.
Collective members declare any funds received as income (not dividends or share of profits).
A profit bonus may be recommended by Representatives in the monthly finance and budget process.
Follow the following instructions: Profit Share Process
If you meet all the following conditions, you receive a share of the distribution. This is an internal database model we use to calculate the bonus.
Your share is calculated as:
SHARE = your DEEP token holding / Total of all collective members who meet conditions token holdings.
Conditions to meet:
Currently this is by DEEP on Ethereum Mainnet.
This is used as an internal dataset to award different bonus amounts to those who contributed different amounts to Deep Work.
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 USDC
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 bonus 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.
When recieving the profit bonus, you must submit an invoice. This means you declare any bonus as income and Deep Work records it as an expense in the bonus scheme. In your invoice you do not acknowledge this as a share of profits, but as a 'bonus' for the work provided to Deep Work.
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