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AEZ Quadratic Grant Community Contribution Guide

AEZ Quadratic Grant Community Contribution Guide

Important Updates

Due to the faucet being discontinued following abuse, we will manually send DORA to cover gas fees for all grantees. Please ask the project you want to support directly for gas fee support, or contact @dorahacksofficialon Telegram to request gas fees.

Quick facts

  1. Please contribute using the Keplr wallet.
  2. ATOM serves as the contribution token in AEZ Quadratic Funding Round 2. The ATOM token used will go directly to the projects you want to contribute to. The minimum ATOM contribution is 0.01 ATOM per project.
  3. The quadratic funding algorithm is built on the Dora Vota blockchain’s IBC-ATOM channel. You will need some DORA tokens as gas fees to contribute, and ATOM should be transferred to the IBC-ATOM channel(continue reading for guidance). Check out token details at Coingecko, or contact @dorahacksofficial on Telegram to request gas fees.
  4. Round 2 timeline👇🏻
  • BUIDL Submission: By May 31st, 2024
  • BUIDL Review Period: June 1st - June 5th
  • Project Demo & Campaign: June 5th - June 20th
  • Round 2 Contribution Period: March 3rd - June 20th, 3 PM UTC
  • Round 2 Cutoff time: June 20th, 3 PM UTC
  • Anti-sybil Attack Check & Result Announcement: June 21st - June 28th
  • Round 3 kickoff time: June 30th

Are you curious about Dora Vota, IBC-ATOM and Quadratic Funding? Continue reading to learn more!

Preparation

  • Contribution Period: Be aware that the Round 2 Community Contribution will take place from now until July 21st at 15:00 UTC.
🗳️
The contribution portal for active grantees is permanently open. Your contribution before 3 PM, UTC, July 21st will impact the matching prize pool distribution in Round 2; contributions after 3 PM, UTC, July 21st will impact the matching prize pool distribution in Round 3.
  • Don’t be a sybil: sybil/ghost contributors will be identified by the algorithm and won’t be counted as valid contributors.
  • Add Dora Vota network to Keplr wallet. You have 2 ways to add the network:

     - Search and add Dora Vota network at https://chains.keplr.app/  

     - Go to the page and click the cart icon. Keplr wallet will pop up and guide you to connect the network.

  • Wallet and Balance Requirements: Make sure you have a Keplr wallet with sufficient balance of ATOM, and the minimum contribution amount is 0.01 ATOM.
  • Gas Fees: Contribution requires a small amount of DORA to cover Gas fees. Check out token details at Coingecko, or find @dorahacksofficial on Telegram to ask for gas fee.
  • Device: For optimal performance, we recommend using a PC equipped with Keplr on Chrome. Mobile users can refer to this guide for a smoother experience.

Now you’re all-set! Let’s start contributing to your favorite grantees.

Step 1 IBC-ATOM transfer

Now that you have ATOM and DORA tokens in your wallet, the last step before contributing is to transfer ATOM (Cosmos Hub) to the IBC-ATOM channel.

When clicking the ATOM asset in your wallet, you’ll see “IBC Send” option. Select “Dora Vota” as your destination chain. “Wallet Address” should be automatically recognized as your Dora Vota address, but you may need to fill in the address manually if it doesn’t appear.

Type the amount of ATOM you’ll use for contribution in the “Amount”, then click “NEXT”.

Step 2 Browse the Grantee Projects and Contribute

Navigate to "Active BUIDLs" to explore the projects open for contributions. For each project you wish to support, click "Add to Contribution Cart", adjusting your contribution amount (as contributions) as desired (min=0.01 ATOM for each selected project).

Click submit and the blockchain will record your contribution and save your contributions (in ATOM) for the grantee you want to support.

Based on the final contribution results, the QF algorithm will automatically distribute the 8,000 ATOM + $20,000 USDC provided by Dora Factory after an anti-sybil check.

How Does Quadratic Funding Work with AEZ Community Contribution?

  • Contribute with $ATOM: Contributions are cast using $ATOM, which directly supports the projects. Each contribution’s influence is calculated based on the weighted amount in the algorithm: 1 ATOM is counted as 1 ATOM, 2 ATOM is counted as √ 2 ATOM, and n ATOM equals √n.
  • Calculation: As a community member adds more $ATOM to a project, their influence on fund distribution diminishes. The contribution cart will automatically handle these complex calculations for you.
  • Progressive Tax: PT ensures fair distribution, even to those with minimal or no ATOM contributions. It does this by minimizing the difference between the top and bottom projects on the leaderboard. The lowest-ranked project receives no less than 1/20 of the grants of the top project.

Potential Earnings for BUIDL Teams:

  1. Direct Contributions: $ATOM from contributors.
  2. Matching Prize: A share from the quadratic funding pool provided by Dora Factory Foundation and PGS validators. The prize pool in round 2 totals 8,000 ATOM + $20,000 USDC.

IBC-ATOM

  • The goal of AEZ Quadratic Funding is to make all major IBC tokens available as contribution credits. To ensure compatibility and flexibility, we use the Dora Vota network as middleware - all supported tokens can be IBC transferred to the Dora Vota network to be adapted and used as contribution credits during AEZ QF rounds. This system allows for the potential future inclusion of other IBC tokens.
  • The Grantees (projects people contribute to) will also receive the tokens on the Dora Vota network, and they can IBC transfer the tokens back to their native chains.

GETTING SUPPORT

For more information or support, feel free to reach out to the DoraHacks team at @dorahacksofficial on Telegram.