ParaState Grant Hackathon Voting Guide
ParaState Grant Hackathon is co-organized with DoraHacks holding a two-month event from October 16th to December 15th. Voters are encouraged to contribute donations and to impact the final allocation of a total of 100,000 US dollars prize pool. Vote 1 STATE to support blockchain development at ParaState and create a sustainable future!
Click here to learn more about ParaState Grant Hackathon
Join us and become a voter @HackerLink today: https://t.me/hackerlinkvoter
- Voting period: Oct 16th to Dec 15th, 2021
- Vote via HackerLink: https://hackerlink.io/grant/Parastate/1
- Owns an account with Metamask, Ledger Live, Infinity Wallet, or Encrypted Wallet.
- Make sure you have a sufficient STATE balance in your wallet (check “How to Switch to ParaState Mainnet on MetaMask (e.g.)?” for tutorial).
- STATE token is used for gas fee and voting. Click here to claim STATE.
- Please vote on PC (better via Metamask on Chrome). Voting via mobile may fail.
How to Switch to ParaState Mainnet on MetaMask (e.g.)?
- Add Custom RPC in MetaMask
- Enter in the ParaState Mainnet settings as follows:
- Network Name: ParaState
- New RPC URL: https://rpc.parastate.io:8545/
- Chain ID: 123
- Currency Symbol: STATE
- Block Explorer URL: http://scan.parastate.io/
How to Vote?
1. Click “Grant BUIDLs” to view the participating projects.
2. Click “Vote” to support and choose your wallet. A pop-up notification will appear on your wallet and ask for authorization. Click “Next” and “Connect” (If the initialization process is stuck, refresh and reconnect).
3. Once the wallet is connected (the wallet address should appear in the voting interface), key the amount you want to vote and click “Confirm”. The Nth vote will cost N*1 STATE, so if you’re going to give 3 votes, you need to pay 1+2+3=6 STATE.
4. Click “Confirm” to finish.
5. After voting, you can check the current project ranking via the leaderboard.
6. Feel free to join the Telegram group: https://t.me/hackerlinkvoter to interact and network with other voters!
Why should YOU become a voter?
- Contribute to the ParaState ecosystem
- Incentivize blockchain builders & support entrepreneurship
- Express the relative strength of personal preferences via the Quadratic Funding mechanism
- Impact the allocation of over $100,000USD prize pool
Meet other multi-chain contributors @HackerLink today:https://t.me/hackerlinkvoter
- Join us on Telegram for future updates.
- Follow Dorahacks on Twitter and Youtube to receive HackerLink news, new video uploads, premieres, and live streams on Hackathon workshops and project demo sessions.
Let’s level up your voting profile!
What is Quadratic Funding? How does it work?
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 = 1+2+3+…+ number of votes STATE
With such a mechanism, community contributors can vote for their favourite projects and emphasize their preferences through multiple votes. Along with the increased contribution each round, of course.
How would this affect project incentives? Popularity, which is embedded in this mechanism and is comprised of the total number of votes driving the top project with the most allocated prize. Plus, the accumulated STATE will go directly to the respective project after each round.
For the Chinese version, please view it here.
Frequently Asked Question
0. What if I encounter problems during the voting process?
HackerLink provides voter support in Telegram, join us here.
1. Can I see my voting history?
Voting history is unavailable for voters at the moment. But builders are able to view your address at the end of the hackathon.
However, if you would like to verify the validity of your votes, you are able to view your voting history via block explorer. In this case, you can verify via http://scan.parastate.io/
2. Can I use bots to mass vote for some project?
Absolutely don’t do this. Botting and other ways of cheating will be detected by our anti-Sybil attack mechanism, which is why a grace period (3–5 days) is being issued for such a purpose. Please keep in mind that botting will NOT grant your supported projects in any stance of superiority nor impact the prize pool distribution in your favour.
3. Can the project with more votes get a bigger share of the prize pool?
According to the Quadratic Funding mechanism, popularity is the basis of the distribution of the prize pool. If a project is supported by more VOTERS (rather than votes), it will receive more prizes by the end.
For e.g, A project with 10 votes from 10 voters will be prized more than a project with 10 votes from fewer voters.
4. Who receives the STATE I paid?
The votes (or we call “donations”) will go directly to the projects.
5. Why can’t I vote?
Invalid voting may occur for multiple reasons, please ensure that you:
- Own a sufficient amount of STATE in your wallet (scroll up to “How to Switch to ParaState Mainnet on MetaMask? (e.g.)?” for tutorial).
- Connected to HackerLink: you should be notified with a pop-up page on your wallet that asks for authorization to connect with HackerLink. Once you authorized the action, your account number should appear in the voting interface.
If the problem still can’t be resolved, please contact Voter Support at Telegram via https://t.me/hackerlinkvoter.
Please note that the generated smart contracts from HackerLink will arrange and transfer the donated fund, to conduct quadratic funding algorithms, and distribute contribution funds to the projects of which the voting results in favour. The website cannot guarantee the authenticity, legality and validity of the project, though admins will contact the projects to verify the validity with their best effort. Be aware of the risks and vote rationally. Parastate Finance, HackerLink, or DoraHacks aren’t responsible for any adverse consequences.
If you have any questions, please contact us on Telegram. We would like to hear more from you and let’s keep in touch!
Write Ethereum-compatible smart contracts in popular programming languages, & run them much faster, on Substrate. A decentralized open-source business model funded by developer treasuries on participating blockchains, headquartered in Enugu, Nigeria.
ParaState GitHub: https://github.com/ParaState
DoraHacks is a global hackathon organizer and one of the world’s most active developer communities. HackerLink (https://hackerlink.io/en) is DoraHacks’ open-source developer platform and open source curation market. It provides unique on-chain tools to incentivize open-source developments around the world. The platform offers a variety of features including hacker profile, BUIDL, quadratic funding grants, bonding curve, bounties, hackathons to more than 100,000 users around the world.