First of all, congratulations to all winners of our Quiz game - the first step to compete in our HackaDAO. HackaDAO is an excellent opportunity for everyone to have the first hand experience with 420 DAO dApp, earn exciting prizes while becoming a part of the 420 DAO community.
Click here for the Quiz winner list.
The HackaDAO competition will be held on Sunday 27th Feb at 2:10PM(UTC) and last for approximately 2 hours. Participants should have received an email from us but here are the details just in case you haven’t checked your email.
Preparation
To ensure a smooth-running competition, HackaDAO participants are expected to be ready before the session starts. Here are some essential steps to follow:
1. Get a basic understanding of how the 420 DAO system works by reading through our docs here. If there are any questions, do not hesitate to ask our team via Telegram or Discord.
2. We assume you are comfortable with the fundamentals of blockchain such as blocks, transactions, transaction fee, etc, and particularly Metamask wallet. In general, we expect you to have some experience with at least one dApp previously. If you don’t, feel free to speak to our team so that we can help you set up beforehand.
3. We are using Metamask for the competition, so you’re supposed to import our ERC-20 token addresses, which will be provided before the competition officially starts. Please also make sure Avalanche network is added to your Metamask wallet.
4. We recommend you to have ~0.5-1 AVAX ready in your wallet. You will be using it for the blockchain fee when you play on our app on Avalanche mainnet. This is to ensure you can perform your best in the competition.
The points above are crucial, so please don’t jump into the competition if for some reason you couldn’t get these properly prepared. Let us know if you need any support and we’ll be happy to help!
During the HackaDAO competition, you can look at the Avalanche mainnet block explorer to see the detail of your transactions https://snowtrace.io/
A Discord private channel has already been created and it will be our main communication channel for all HackaDAOers. The link to join the Discord chat has been included in your email.
On the day
In the real production system, each auction lasts for 24 hours, however, in the HackaDAO we set it to be 10 minutes. In the HackaDAO, there are in total 10 auctions. So the competition will last for approximately 1 hour 40 minutes. Please be there earlier than 2PM to get ready for the game.
Warm-up:
10 minutes before the competition officially begins, we will let you know :
- The final list of participants with their wallet address.
- The number of USD that we’ve sent to each participant. Note that the USD are simulated for the purpose of this competition only.
- Our token addresses to be imported in your MetaMask include simulated USD, 420 and s420.
- We will send you the link to our dApp website.
Let’s go!
Once “AUCTION START” is announced, you can start playing in our system with different functionalities such as:
- auctioning tokens using your simulated USD,
- claiming tokens that you won from the previous auctions,
- staking tokens,
- unstaking tokens,
- buying/selling on decentralized exchanges once the liquidity pair is created.
Every 10 minutes, the system will move to the next auction.
The competition will finish at the end of the auction 10th.
How the final score is calculated:
- We count the final number of token 420 that you have in your registered wallet (A).
- We count the final number of token s420 that you have in your registered wallet (B).
- We calculate the final score R = A+B - abs(A-B).
We rank all the participants by the score R. The higher the score the better the ranking.
The rationale about the score formula is that it rewards people who understand our tokenomics well, so they can play to get the maximum number of native tokens and staked tokens, as well as maintaining a balanced relationship between the two.
Since all actions are recorded on the blockchain, we invite you to keep track of your score as the competition progresses.
When the competition ends, please allow us some time to work on the final result and we will announce the winners in due course.
NOTE: Transferring tokens USD, 420 or s420 to any other wallet during the competition is considered cheating, so we expect you to not do this otherwise you would not be considered in the final ranking.
Three people with highest R score will receive prizes as below:
- The 1st winner will receive $2100.
- The 2nd winner will receive $420.
- The 3rd winner will receive $210.
We wish you best of luck. The game is challenging, competitive, yet super fun and rewarding. We hope you will enjoy it. Let’s together LEARN and EARN!
About 420 DAO
420 DAO is a decentralized autonomous organization that aims to build the right decentralized digital future. It is a coordinating and supporting body that promotes the development of decentralized economies using its robust tools and 420 DAO token. The project is a revolutionary DAO that has established a dedicated community of crypto proponents, thought leaders, builders, and investors.
The 420 DAO ecosystem is powered by 420 token that has in-build properties such as Store of Value, Membership Value Governance value. To learn more about 420 DAO visit,
