What is BSC Grant?
Binance Smart Chain (BSC) will launch its first $50,000 Quadratic Funding Grant Program on DoraHacks’ blockchain developer platform HackerLink to support early-stage developer projects. Developers from all over the world can submit new projects based on BSC via HackerLink to apply for the grant funding from BSC.
Inspired by the Quadratic Funding algorithm introduced by Vitalik Buterin, there will be two grant pools — the community contributor pool and the sponsor matching pool. A $50,000 matching pool for this grant round is donated by Binance Smart Chain Foundation, and distribution of the matching pool will be determined by quadratic voting results from community contributors. Therefore, all community contributors will have a direct impact on the allocation of the $50,000 prize pool.
Anyone can use BNB to vote for projects and teams they like and think have potential, and these BNBs will also be directly donated to the projects. Each vote will change the allocation of the $50,000 matching pool.
Grant Project Submission Time：20 Jan. 2021–15 Mar. 2021 12:00(GMT+0)
Project Domains：Include but not limited to — improvements to BSC’s core technologies and infrastructure, new protocols and products in Defi, DAO, NFT, zk Rollup, on-chain governance, cross-chain, etc., community-driven projects like podcasts and workshops that help the BSC ecosystem grow better.
Voting Time：20 Jan. 2021–15 Mar. 2021 12：000(GMT+0)
After the round ends, there is a 240-hour grace period. During grace period, all projects need to verify identity with HackerLink. After the grace period, all projects that verified identity will be able to redeem community donation and prize pool distribution from project BUIDL page.
Grant Funding Pools Explained
The Grant consists of three parts:
a. Community vote
b. The initial $50,000 matching prize pool offered by BSC.
c. There MIGHT be further sponsorship from BSC eco-system partners will be added to the matching prize pool.
Grant Allocation
Community vote: community contributors / BNB holders will be able to vote for Hacker projects they like and they think have potentials. Votes cost BNB. The BNBs spent on the vote will be allocated directly to the voted teams after the event (as the donation from the community).
The $50,000 matching prize pool will be allocated according to the result of the quadratic voting. Please refer to the article by Vitalik Buterin for details of this mechanism. For Chinese readers, there is an article written by Eric Zhang to explain the Quadratic Payments article.
How to apply?
a. Open https://hackerlink.io/en/
b. Choose “Grant” in navigating bar
c. Confirm you are on “BSC round-1” page
d. Click on “Apply for Grant” (choose BSC Grant Round 1，fill in the project name, team info, GitHub link, Twitter etc.). Please complete the information as much as possible. Verify your Twitter links and GitHub Repo so that community contributors can make sure they are donating to the real and correct project. The blockchain account network requires the BSC Mainnet.
e. Confirm submission to complete the application.
f. After submitting your application, you will be able to see your submitted project on the Grant page, which means you have completed your application.
g. If your projects have updates, you can edit it by clicking on your profile photo and selecting “My Uploaded Projects” in “Personal Center”.
☆ How can I check the prize allocation and project ranking?
Click on “view details” to check the current prize allocation leaderboard. Please note that the allocation of the matching pool constantly changing based on community votes until this grant round is closed.
☆ How do I get verified?
a. Open your submitted project in “personal centre”, click on “project detail”.
b. Verify your Twitter link by publishing a verification message, and verify your GitHub account with a single click. (If you are one of the contributors of your submitted repo’s master branch, you will be verified.)
Please verify twitter link and GitHub repo you submitted so that contributors can verify your identity and your project is real.
☆ How does MetaMask configure the BSC network?
Newly added RPC URL：https://bsc-dataseed.binance.org/
Chain ID：56
MetaMask configure BSC online guideline：https://docs.binance.org/smart-chain/wallet/metamask.html
☆ How do community contributors vote?
The first vote of each voter for every project in this round costs 0.1 BNB. According to Quadratic voting, the Nth vote requires 0.1*N BNB.
☆To transfer BNB to Metamask, please use the BSC network.
About BSC Ecosystem
Binance Smart Chain is an Ethereum EVM 100% compatible blockchain, and is very good at decentralized application (Dapp) development within many possible verticals including DeFi, NFT, Gaming, and many others.
To get a better understanding of the current BSC landscape, we divide each of the layers into the various components which we feel are most important.
If you want to know about it, please check their page here.
Tips:
- Please upload projects that developed on Binance Smart Chain.
- Verified Twitter links and GitHub repos are recommended. Community contributors can confirm the identity of you and your project.
- Complete and detailed project information is recommended. This allows you to fully demonstrate to your team and project.
- Please share your grant project on social media platforms like Twitter, FB and WeChat friend circle to let people know and contribute to your project. In this way, you can gain more grant.
- Please submit a real and valid project that is developed by you or your team. Please do not submit other’s projects or copy-paste projects. Once the plagiarized project is reported, it will be disqualified in all subsequent grant applications and the community will be notified.
