Xend Finance DeFi Hackathon 2021 themed “Decentralizing Africa and Beyond” is officially launched at HackerLink with a $100,000 prize, plus a $1 million+ worth of grants that are invested by Venture Partners like Binance, Polygon, Heco, Huobi, Mapleblock and other top VCs. Make The Donation Today to encourage developers showcasing their talent and contributing innovative ideas & projects on Xend Finance DeFi Protocol.
Join us and become a voter @HackerLink today: https://t.me/hackerlinkvoter
Preparation
- Voting period: Sep 21st to Dec 21st, 2021
- Vote via HackerLink: https://hackerlink.io/grant/xend/buidl
- Owns an account with Metamask, Ledger Live, Infinity Wallet, or Encrypted Wallet.
- Make sure you have a sufficient XEND balance in your wallet (check “How to Switch to BSC Mainnet on MetaMask (e.g.)?” for tutorial). Xend Finance runs on the BSC network
- Please vote on PC (better via Metamask on Chrome). Voting via mobile may fail.
How to Switch to BSC Mainnet on MetaMask (e.g.)?
Add Custom RPC in MetaMask. Enter in the BSC Mainnet settings as follows:
- Network Name: Binance Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/ (click here if the URL doesn’t work)
- Chain ID: 0x38, 56 in decimal (if 56 doesn’t work, try 0x38)
- Currency Symbol: BNB
- Block Explorer URL: https://bscscan.com/
How to Vote?
1. Click “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 XEND, so if you’re going to give 3 votes, you need to pay 1+2+3=6 XEND.
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 Xend Finance ecosystem
- Incentivize blockchain builders & support entrepreneurship
- Express the relative strength of personal preferences via the Quadratic Funding mechanism
- Impact the allocation of over $1M prize pool
Meet other multi-chain contributors @HackerLink today:https://t.me/hackerlinkvoter
What’s next?
- 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 XEND
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 XEND will go directly to the respective project after each round.
Interested to know more about quadratic funding? You can check the Quadratic Funding Algorithm by Vitalik Buterin, or the Quadratic Funding V2 Protocol by Eric Zhang.
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 https://bscscan.com/
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 XEND 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 XEND in your wallet (scroll up to “How to Switch to BSC 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.
Risk Notifications
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. Xend 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!
About Xend Finance
Xend Finance provides the tools and platform for a decentralized financial credit union, regardless of geographic location and the home country currency. Members can earn multiple levels of interest on their savings by seamlessly exchanging their crypto or fiat currency to stable cryptocurrencies and staking — the process of locking up crypto assets to earn yields — on lending platforms so members can earn compound interest on their money. The Xend Finance platform is the first decentralized finance (DeFi) credit union.
The team is made up of experienced professionals with backgrounds in mathematics, finance, cryptography, and blockchain development, working for some of Africa’s largest employers, including KPMG, Chevron, and Stanbic Bank. Xend Finance is backed by Binance, Google Launchpad, NGC Ventures, Hashkey, and AU21 Capital, amongst others, and is headquartered in Enugu, Nigeria.
About DoraHacks
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. HackerLink provides unique on-chain tools to incentivize open source developments around the world. The platform is offering features including hacker profile, BUIDL, quadratic funding grants, bonding curve, bounties, hackathons to more than 100,000 users around the world.
More Information about DoraHacks