Table of Contents
Know the basics
Dora Staking: Dora Staking is a way to participate in governance of Dora grant communities (e.g. vote for grant DAO BUIDLs on DoraHacks.io). By staking $DORA at https://dao.dorahacks.io/#/stake , a staker will receive corresponding amount of vcDORA as the governance credit on DoraHacks.io
vcDORA: short for “voice credit Dora”, a community governance credit generated by Dora staking.
vcDORA is the general non-transferable voice credit for DORA community governance, and the amount of vcDORA associated with an address is related to the amount of DORA staked, the duration of staking, and time elapsed since the initial staking date.
It has following features:
- Decaying spontaneously: during the period of staking, the amount of vcDORA one holds will be decaying linearly until the end of staking period.
- When finished staking, check out your vcDORA balance at specific date at https://dao.dorahacks.io/#/mine
- non-transferable: vcDORA is designed to grant the governance credit to the stakers (the staking addresses), therefore it’s exclusive (or in popular term “soul-bound”) to the staker and is not allowed to be transferred.
Although in the first place, vcDORA is the voting credit for important Dora Grant Communities such as Dora Grant DAO and BNB Grant DAO, vcDORA is a general voice credit system that can be used broadly by any communities, DAOs and organizations that are governed by the DORA token community.
How to Stake/Get vcDORA
1. Go to https://dao.dorahacks.io/
Click “Connect Wallet”. Before staking, please make sure you have a little amount of ETH in the wallet for there should be some gas fees needed, because $DORA is currently a token on the Ethereum mainnet.
2. When your wallet is connected, you’ll see a Dora Staking profile page.
Click “Stake $DORA”.
3. Specify the amount and duration of staking in the form. “Initial vcDORA” estimates the amount of vcDORA you’ll get by the amount of $DORA and duration you’ll stake.
Notice: Unstaking is not allowed. Based on the smart contract, once deposit succeeds, it can not be cancelled.
4. If you want to increase staking amount or extend staking period to get more vcDORA, go to https://dao.dorahacks.io/#/stake or click “Stake $DORA” tab to continue.
When staking expires, you can get the staked $DORA back on this page.
How do I know how many vcDORAs I have now?
When you finish staking, you can check your vcDORA balance at https://dao.dorahacks.io/#/mine anytime. It shows real-time vcDORA balance in your wallet as well as the estimated amount at any specific date in the staking period.
vcDORA Use Cases
- Use vcDORA as Voter Identifier in DoraHacks Grant DAO community voting round
In past practices, the community found out that there were some voting bots disturbing the order and fairness of the quadratic voting round. To avoid bot voting, vcDORA is designed as the voter identifier for some upcoming community grants. Anyone who wants to vote must get enough vcDORA via Dora Staking (https://dao.dorahacks.io/#/stake) in the first place to vote for BUIDLs.
Where to get DORA token?
Find DORA at:
- CoinMarketCap: https://coinmarketcap.com/currencies/dora-factory/
- CoinGecko: https://www.coingecko.com/en/coins/dora-factory
DoraHacks is a global hackathon organizer and one of the world's most active multi-chain developer communities. Committed to a global hacker movement with around 20K global monthly active users, it provides crypto-native toolkits to help BUIDLers get funded for their ideas and products.
By far, nearly 3000 projects on DoraHacks.io have received over $18 million in prizes and funding from supporters worldwide. 20+ major blockchain ecosystems and dozens of open source communities and DAOs are using Dora's infrastructure for quadratic funding grants, hackathons, community contribution, bounty, and the governance of their communities.