2023/04/06-2023/04/20 14:00 UTC
Hack-a-TONx DoraHacks Community Quadratic Funding Round
Utility NFT & SB / DAO / DID(5203.00 TON)
Web 3 Services / Web 2.5 Services(4770.00 TON)
Hack-a-TONx Community Quadratic Funding Round is where an extra matching prize pool($35,000) will be distributed to 35 outstanding hacker teams other than the Top10 projects. At the same time, the 35 teams can also receive contribution from a larger community to support their long-term development. This is also the first time that a QF round is built on TON blockchain!
To vote, please click “BUIDL” tab on this page. The voting round will run from April 6th to April 20th, 2023.
DoraHacks will not charge or request any money/tokens at any point during the voting process.
Community voting: Apr 6th - Apr 20th
Anti-sybil attack check: Apr 20th - Apr 25th
Prize and direct contribution distribution: Apr 25th - Apr 27th
Total funds that a BUIDL team can earn from a QF grant includes = (TON from the voters used to vote for a particular project)+(Respective matching prize from the quadratic funding pool offered by the grant organizer)
Quadratic Voting is a voting scheme introduced as an innovative improvement of the traditional 1-person-1-vote or 1-dollar-1-vote voting schemes. And Quadratic Funding is the funding distribution scheme based on QV.
The votes cost $TON, which is directly donated to the respective projects after the round. 1st vote costs 0.1 TON, and Nth vote costs 0.1*N TON, so 1st vote = 0.1 TON, 2nd vote = 0.2 TON…
E.g. If you are going to vote 10 votes to one project, it will cost a total of 5.5 TON
*Continue reading if you want to know the mathematical mechanism.
So if you’re going to give N votes, you need to pay:
*F(N)=(N+1)N/2=(N^2+N)/2(you can see what’s “quadratic” here)
For the Prize Pool distribution, it’s based on the votes one project can receive. So the share of prize pool one project can get is:
The matched prize/The total prize pool= Σ votes_by_user/Σ votes_by_all_user
(This is a simplified version since Progressive Tax was introduce. The original distribution in a QF round was
(Σ votes_by_user)^2 - Σ votes_by_user^2 )
For more insights and improvements DoraHacks had for QF, please read Quadratic Governance: What’s Working and What’s Not? https://doraresear.ch/2022/07/11/quadratic-governance/ by Eric Zhang
The final ranking will be visible at https://dorahacks.io/grant/ton-grant/top
No they are NOT! DoraHacks and TON will not charge any fees. All the TON tokens you cost via votes will be allocated to BUIDLs, while some gas fees and transaction fees may be charged by the blockchain.
Learn how to set up your wallet, the voting process, and related rules at https://dorahacks.io/grant/ton-grant/guide
This is the first-ever QF use case on TON blockchain. We’re open for your review and suggestion! Check out the repo and give issues at https://github.com/dorahacksglobal/quadratic-grant-ton
Contact us via Telegram @dorahacksofficial.
How to apply?View all