The first round of Injective native quadratic funding has been successfully concluded on DoraHacks.io. This round has a matching bonus pool of 1500 INJ, which attracted 2247 community contributors to participate, and the community donations totaled 150.7 INJ. In addition, this round also added an incentive pool for all community contributors, including 1 million $QUNT tokens and a NINJA#2238 NFT. Thank you to all Injective community members who participated in this round of quadratic funding, as well as the support from Injective QUNT and the funded projects in this round.
First Injective native quadratic funding
As a pioneer in the application of quadratic governance mechanisms in multi-chain ecosystems, DoraHacks introduced quadratic funding to the Injective community for the first time. After the huge success of the Injective x Google Cloud Illuminate hackathon, DoraHacks built a native quadratic governance infrastructure for Injective and fully supported the operation of this round of quadratic funding. This is the first successful application of community-driven quadratic governance on the Injective blockchain.
Quadratic funding is a way to find a balance between traditional governance models. This mechanism originated from quadratic voting - a voting method for allocating funds to public goods projects. It prioritizes projects with broader community support to ensure fair and transparent allocation of funds - specifically by making the cost of each additional vote increase exponentially, thereby leveling the playing field between projects. To learn more about quadratic funding and DoraHacks improvement on quadratic funding, check out the article here .
This Injective native quadratic funding is intended to provide long-term support for important emerging projects in the Injective ecosystem. DoraHacks looks forward to working with developers and community members to build a sustainable and innovative community for the Injective ecosystem. The significance of QF is far more than just providing and allocating funds: it demonstrates the importance of the Injective ecosystem to every innovative idea and supports every thinker and developer to contribute to the development of the ecosystem.
Contributor Incentives
In addition to the 1,500 INJ matching bonus pool provided to funded projects, Dora Factory and Injective Quants have also teamed up to provide additional contributor incentives including 1 million $QUNT tokens and 1 NINJA#2238 NFT to reward all Injective community members who participated in this quadratic governance.
After a three-day anti-Sybil attack check, this round of community contribution rankings has been made public on the DoraHacks.io website . After removing Sybil accounts and duplicate addresses, incentives will be distributed according to the following rules:
1. NINJA#2238 NFT (rarity ranking 290) will be airdropped to a lucky voter randomly selected through DoraHacks DI-QRNG (Device Independent Quantum Random Number Generator) circuit . The random selection was completed by the IonQ quantum computer on April 12, 2024, which is the first time that the quantum random number generator has been used in an NFT airdrop event. For the proof of generation and circuit of this quantum random number, please check DoraHacks Github .
1. $QUNT Allocation: After validating all on-chain votes in this round, 1,183 voting addresses were confirmed as unique, non-Sybil addresses and eligible for $QUNT airdrops*.
Group 1 voters: Voters who join before 7:20 UTC on April 5 will share 50% of the $QUNT incentive pool, which is 500,000 $QUNT; in addition, to reward Group 1 voters for participating in early contributions, the first group incentive will be supplemented by 500,000 $QUNT. In summary, each address of Group 1 voters will receive a total of 1,355 QUNT.
Group 2 voters, those who joined after 7:20 UTC on April 5, will share the remaining 500,000 $QUNT (1123.5 $QUNT per voter).
Funded Team
Most of the selected teams for this round of quadratic funding come from outstanding teams in the Injective x Google Cloud Illuminate hackathon held at the end of 2023. The 10 teams include:
1. Aeroscraper - Defi protocol that aims to solve the interest rate problem in lending platforms by providing interest-free, over-collateralized stablecoins.
2. Chain Defender - Provides faster and cheaper security solutions for projects on networks like Injective by providing automated vulnerability audits and pre-audit scans.
3. Gryphon - This Defi protocol integrates LSD and a local stablecoin component (CDP), providing users with high capital efficiency, adjustable CDP options and compound returns backed by blue-chip assets.
4. Hydro Protocol - Introduces Real Yield Assets (RYA), providing a portfolio for diversified yield exposure, combining real-world and crypto assets, and is also the first native LSD+LSDFi on Injective with eVM and sVM capabilities.
5. Kogen Markets - A decentralized exchange (DEX) focused on options trading in the Cosmos DeFi ecosystem.
6. Neptune Finance - Optimizing DeFi savings through a unique peer-to-peer lending protocol that offers variable interest rates, multiple borrowing accounts, and modularity.
7. Ninja Blaze - Injective ecosystem chain game, currently in the testnet stage, there are two available games, Jackpot and Roshambo.
8. NinjaKits - A one-stop DeFi and NFT management tool that gives users non-custodial access to decentralized finance, with functions such as portfolio evaluation, NFT collection management, DeFi services, etc.
9. TimeWorx - Bridges the gap between human and AI for SMEs by providing easily accessible data processing and tagging services. Through a decentralized environment, users earn TIX tokens by completing tasks, contributing to machine learning, and monetizing time and tokens through the platform’s mobile app.
10. Tokenized Interchain Accounts - Using IBC, tokenize account ownership on multiple chains so that all accounts are abstracted and can be traded.
