DoraHacks x Polygon Grants Hackathon enters Community Quadratic Voting phase
Polygon Grants Hackathon: Quadratic Voting Starts
DoraHacks-powered Polygon Grants Hackathon (PGH) has begun its Community Quadratic Voting phase (1st October 2021 to 29th October 2021). It comprises a novel quadratic funding mechanism (QFM) for voting. Apart from signalling your support, the QFM voting would also add to retroactive public goods funding.
The Polygon community is asked to exhibit their support for their preferred projects via voting. Via quadratic funding (QF) voting, you support these promising projects with quite early bets. In doing so, you also add to and boost the growth trajectory of the entire Polygon ecosystem.
Quadratic Funding funds public goods in a community the better way. It magnifies the large community donations alongside the small group contributions having a large sum of funding money. To put it simply, the project amount received is the subsequently donated amount. On top of that, an extra amount is added by comparison via the grant pool, calculated as per the QF formula.
Voting takes place on the Polygon Network. Polygon’s native MATIC token will support the projects—tend to be corresponded to a grant pool of US$50,000. To participate in voting for and funding futuristic native Polygon projects, do the following:
- Visit the Grant BUILDS page, select projects to vote on:
- The projects BUIDLing in the hackathon will be accessible here for voting. Via MATIC donations, you can exhibit your project support (decided via a quadratic voting algorithm).
- To check project information, simply click on any project of interest. Upon deciding which project to go for, click on “Vote” to vote for the project. Upon doing so, a dialog would pop-up for connecting your MetaMask to the site.
- Click Confirm to Approve the transaction in your wallet to cast your votes. The cost of the Nth vote would be N*1 MATIC. In case you give 3 votes, you’ll be required to give 1+2+3=6 MATIC. That’s your contribution to the growth of Polygon via voting in the Polygon Grants Hackathon. Real-time projects leaderboard can be viewed here, during the voting period.
Timelines:
- Hacker Registration & Project Submission: August 30th — Oct 22, 2021
- Voting period: October 1 — October 29
- Judge Voting: October 23rd — October 29th
