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Polygon Grants Hackathon - Quadratic Funding Round

Polygon Team
Polygon Team
Oct 1, 2021
Hackathon
photo_2021-10-01_14-42-58

The Polygon Grants Hackathon powered by DoraHacks will be moving into its next phase of Community Quadratic Voting from October 1st, 2021- October 29th,2021.

The voting consists of a unique quadratic funding mechanism that not only signals your support but also contributes to retroactive public goods funding. We call out to the Polygon community to support your favorite projects by casting your vote.

By getting involved in the quadratic funding/voting process, you not only help support and put an early bet on these projects in their early days but also help support and contribute to the overall growth of the Polygon ecosystem.

Quadratic Funding is an optimal way to fund public goods in a community. It amplifies the donations made by a large community over the contributions made by a small group with big pockets. In simple terms, the amount received by the project is the amount donated. An additional amount is matched by the grant pool, which is calculated using the quadratic funding formula. Voting will happen on the Polygon network, and MATIC will be used as the native currency to support the projects, which will be matched from a grant pool of $50k.

How to get involved in voting for and funding the next generation of native Polygon projects?

  1. Enter the Grant BUILDS page to choose the project you want to vote on.
  1. Here you will find all the projects BUIDLing in the hackathon. Now it’s your chance to vote for them by donating some amount of MATIC that represents how much you support that project (determined by a quadratic voting algorithm).
  1. You can click on any project and view more details about it, or you could just click “Vote” to vote for the project. Upon clicking ‘Vote’, a dialog opens up. In this dialog box, connect your MetaMask (make sure you’re connected to Polygon) to the site.
  1. Click Confirm and Approve the transaction from your wallet so that your votes are cast! 

Connect your wallet and enter the votes you want to give. The Nth vote will cost N*1 MATIC, so if you’re going to give 3 votes, you need to give 1+2+3=6 MATIC.

There you have it! You have successfully contributed to the growth of Polygon by voting in the Polygon Grants Hackathon! 

You can even view a real-time leaderboard of the projects during the voting period here.

Timelines:

Hacker Registration & Project Submission: August 30th — Oct 22, 2021

Voting period: October 1 — October 29

Judge Voting: October 23rd — October 29th

Frequently Asked Question

1. Can I see my voting history?

For voters, the voting history is not available at the moment. But the project you voted for can still get your address at the end of this hackathon.

2. Can the project with more votes get a bigger share of the prize pool?

Popularity is the basis of the distribution of the prize pool for the Quadratic Funding mechanism. Basically, if a project gets support from more VOTERS (rather than votes), it will get more prizes at the end of the hackathon.

For example, a project with 10 votes from 10 voters gets more than a project with 10 votes from less voters.

3. Where will the MATIC I pay go?

The votes (or we call “donations”) will go directly to the project and its owner.

Support for your favorite projects by casting your vote today.

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