Over the past 10 days, Hello NFT World: OpenSea x Replit Hackathon received 73 NFT BUIDL submissions, contributing with the most innovative, creative proposals to the NFT world.

Finalized by judges voting, the selected 12 BUIDLs will be invited to attend MACI Quadratic Voting to win a $25,000 MACI Quadratic Funding prize pool, sponsored by Replit. With the votes you own, you get to allocate the prize pool for your favoured BUIDLs.

MACI Voting Guide: https://dorahacks.io/blog/guides/maci-voting-guide-hello-nft-world/

Schedule

• MACI voting kicks off: April 17th at 9 AM ET
• MACI voting ends: April 18th at 12 PM PT

Everything you need to know about MACI Quadratic Voting

1. What is MACI

Minimum Anti-Collusion Infrastructure (MACI) is a base layer for bribery-resistant, secure, and private digital voting.

Under the hood, MACI uses Ethereum smart contracts and zero-knowledge proofs. It inherits security and uncensorability from the underlying Ethereum blockchain, ensures unforgeability via asymmetric encryption, and achieves collusion resistance, privacy, and correct execution via zk-SNARK proofs. (To learn more about MACI, please check the source article by appliedzkp at https://appliedzkp.github.io/maci/ )

2. What is quadratic voting

Quadratic Voting is a voting scheme introduced and often discussed in the Radical Markets community. It is often considered an innovative improvement of the traditional 1-person-1-vote or 1-dollar-1-vote voting schemes. The simplified formula on how quadratic voting functions is

cost to the voter = (number of votes)².

In the case of Hello NFT World: OpenSea x Replit Hackathon, the votes cost USDCs. As shown in the equation above, the n'th vote has a cost of n, the number of votes you make is proportional to how much you value one unit of influence over the decision (the value of the decision multiplied by the probability that one vote will tip the result), and hence proportional to how much you care about A being chosen over B or vice versa. Hence, we once again have this nice clean "preference adding" effect. (Buterin, 2019).

Read DoraHacks’ Guide to Quadratic Funding/Voting

3. What are the Team BUIDLers getting because of MACI Voting?

BUIDLers can get their shares of the USDC matching pool by the result of MACI quadratic voting.