DAOrayaki Reserach | ETHDenver&SporkDAO : Hackathon and Incubator for Decentralized Blockchain Applications

12 min readJun 16, 2021

DAOrayaki DAO Research Grant：

Fund Address: 0xCd7da526f5C943126fa9E6f63b7774fA89E88d71

Voting Result：DAO Committee /7 yes

Grant Amount：200 USD

Category: ETHDenver, Ethereum, Blockchain Community, Workshops, Coloradojam, #BUIDL, Full Decentralization, SporkDAO, Decentralized Vesting, VC ecosystem

Contributor：Jones 黑白BQ, DAOctor @Daorayaki

Chinese Version:https://daorayaki.org/ghost/#/editor/post/60c8007f57761003de36273b

Launch time: ETHDenver was firstly founded by John Paller in 2016 and announced at the 2018 hackathon, where it is considered as the largest Ethereum hackathon in the world. Initiated in 2019, SporkDAO represents the final leg of the journey towards transitioning ETHDenver to a true community owned system.

Overview About ETHDenver

ETHDenver is a Hackathon for Ethereum enthusiasts and developers. It is a 36-hour Hackathon that includes some talks and workshops given by top blockhain influencers and Ethereum experts. The purpose is to contribute to the Ethereum ecosystem, whether by building decentralized applications (DApps), contributing to or starting infrastructure level projects, writing documentation/tutorials/white-papers, or even designing UI/UX or info-graphics.

I. Introduction:

What is Ethereum Denver?

In addition to the above mentioned, Ethereum Denver has supported the Denver’s blockchain community since early 2014,. With over 1000 members, its goal is to provide opportunities for learning and connections. Along with its sister Meetups — Boulder Blockchain, Ethereum Boulder, and Rocky Mountain Blockchain — there are over 2,500 people registered to participate in regional events.

What is ColoradoJam?

ColoradoJam is a feature track within ETHDenver. In partnership with the State of Colorado and Governor Jared Polis, participants in ColoradoJam are able to compete for prizes within different state agencies to produce technological solutions to pressing problems. Web2 and Web3 projects are welcome to submit for consideration. Winners of each agency “Jam” will be awarded cash prizes as well as a potential opportunity for a pilot program with the State of Colorado.

What is #BUIDL?

The #BUIDL meme was introduced formally to the ETH community at ETHDenver 2018 and has stuck as the community wide rallying cry throughout the world. #BUIDL is the ETHDenver response to the BTC (Bitcoin) community’s #HODL. Also, ETHDenver thinks #hodling (holding) cryptocurrencies is important, but #buidling (aka building) is much more important. Without #buidling the decentralized future, #hodling will be just a sport of vanity.

II.Team members:

¡ John Paller — Founder at ETHDenver, John is an employment & talent acquisition industry leader & entrepreneur, he has been in the employment/talent acquisition/ HR Tech space for over 15 years. He was awarded “Forty under 40” in 2014 by the Denver Business Journal, which recognizes up-and coming leaders who are shaping the future of the business community.

¡ Justin Moskowitz — CO-Founder & Operations Steward at ETHDenver, Justin made a huge impact on some of the successful US expansion, contributing with great efforts in general. Justin is a true “DIY”-hands in guy that make things happen. He is innovative to the marketing process with full awareness and compassion.

¡ Joshua Lapidus — Meta Steward at ETHDenver, Joshua is the Co-Founder of Pool-Party projects and a membership Steward currently for Opolis as a full time Steward. He graduated from the American University for the International Politics.

¡ Casey Gardiner — Steward & Mentor at ETHDenver and a Senior Blockchain Engineer currently at FIO (Foundation for Interwallet Operability), Casey is a senior Software Engineer and blockchain advisor. No matter what venture he takes on, he displays a diligent work ethic and the willingness and ability to take on challenging projects. More than 20 years of programming experience with many computer programming languages in addition to that a Y combinator, 500 startups and Tigerlabs alum.

III.All about ETHDenver:

1. Who can participate in the Hackathon?

Anyone can apply to participate in the Hackathon. Applications are based on interest in Ethereum and demonstrated ability to code or meaningfully contribute to a project. Applications from any corner of the globe will be accepted.

2. Who can attend the workshops & speakers?

Anyone can apply to attend the workshops & speakers. All Hackathon participants are able to attend as part of their acceptance for the Hackathon. Skills or abilities are not required to apply just an interest in Ethereum and the decentralized future.

3. How many people can be on a team?

A team needs to be formed from at least two. This is not a solo sport: collaboration is key. The max for any team is 4 people. If a participant doesn’t have a team, there will be an opportunity to form or join one before and at the hackathon via a few “icebreaker” sessions hosted by the ETHDenver, where participants can meet teams looking for more members or Solo hackers looking to partner.

4. How does judging work?

Judges will score participants projects based on 6-categories:

- Usefulness.

- Design.

- Technical Sophistication.

- Creativity.

- Diversity Awareness.

- Makes the World a Better Place.

The top 5 overall teams will have the opportunity to present and demo their hacks in fromt of the entire hackathon crowd at the ETHDenver concluding session.

5. What are the prizes for the winning team?

The top 5 projects will receive a crypto-cash prize of Ether and other prizes which will be announced at the event.

6. How does ETHDenver define diversity?

Diversity encompasses the full range of ethnic and socio-economic backgrounds, countries of origin, sexual preferences, and gender orientations. ETHDenver is a truly “big umbrella” community.

7. SporkDAO:

SporkDAO aims to become the most respected and fairest incubator for decentralized blockchain applications. To break the cycle of early-stage ICO in high-potential cryptocurrency projects, which normally see large traditional VCs buy out stacks of tokens in strategic, seed, and private sale investment rounds at far lower prices than retail investors got during the public sale. These VCs would then dump their holdings on retail investors to secure an easy profit, while simultaneously damaging sentiment surrounding the project.

Instead, SporkDAO team (ETHDenver) believe in cultivating long-term partnerships with the projects they support, helping to establish a fair, just and healthy, natural growth that builds lasting success.

The SporkDAO involvement with projects can be classified into three distinct tiers:

- Projects are incubated and guided to success from their very inception, up until the point they are listed on an exchange — with continued overview afterwards. Incubated projects benefit from a range of marketing, advisory, and listing services to help catapult the project to success.

- Assisting projects with social media strategy, including Twitter and Telegram.

- SporkDAO manages OTC sales and community requests — after the incubation period, there is no direct involvement with the projects.

SporkDAO community,i.e.“Sporks” is a crucial part of this process, since it helps both finance and support the growth of SporkDAO partner projects. As every single member is a valuable part of the SporkDAO token, SporkDAO aims to reward and incentivise in the highest degree, while maintaining a fair and just democracy within its governance.

SporkDAO is supposed to be launched between 11th-26th June of 2021, where ETHDenver is going to hold a Virtual and IRL Launch Party & NFT Art Bazaar to Celebrate the Birth of SporkDAO & the community Token $SPORK.

Spork is a blockchain vesting protocol envisioning a decentralized way of connecting early-stage blockchain-cryptocurrency innovators and holders. Its unified interface allows projects owners to launch and manage liquidity auctions that are easily discoverable by degens on the platform. It embarks on a long-term mission to disrupt and fully decentralize liquidity auctions. The project is built with a vision to facilitate greater interoperability through cross-chain interactions, which in turn, will further strengthen DeFi adoptions and value. The team goal is to eventually build a platform that will define the true meaning of decentralization.

When it comes to the governance, SporkDAO is completely owned by the Community. Members determine the direction of the community’s efforts, investments, content, and interests.

Decentralized Vesting: How it works and What is the Opportunity?

SPORK aims to highly reward and incentivize its holders. All token holders will receive dividends for each transaction fee, which has a fixed 5% fee on purchase and sales. 1% of this fee is paid instantly to all holders, while 3% is collected in bonus fund and paid out to the long-term holders. The remaining 1% will be split between; 0.5% sent to reserve and 0.5% is burnt to create deflation. Bonus weight ratio will be assessed based on periodic snapshots throughout the year. To top this off, as SPORK VC ecosystem expands, so does the users portfolio as holders of SPORK become investors of all future on-boarded projects.

Users can achieve higher project rewards through the NFT SWAP, which can be leveraged to access the community tiers — each of which provides increasing benefits for the SPORK members. In order to access each membership tier, sporks need to burn a fixed minimum number of SPORK tokens (to be determined prior to the first project launch) to mint the corresponding NFT they desire. The SPORK current (NFT) token-permissioned membership groups are:

As part of SporkDAO collaboration, projects provide these special SporkDAO users with an extra airdrop and purchasable allocation of tokens which is distributed to those who have joined the SporkDAO (NFT) token-permissioned Telegram communities. All NFT holders will still receive dividends and bonus reciprocal to the value of their NFG (#burnt tokens).

SPORK can be purchased on Pancakeswap or earned by participating in community events, such as interactive interviews (AMAs) with the collaborated projects. Besides the exclusive membership communities, SPORkDAO also operates a lobby for general discussions. Users are free to sell their membership NFT on open markets or via the SporkDAO marketplace, as membership tiers, prices, and capacity will change. Those who sel their NFT will be automatically removed from a group.

Customers in the highest tier benefit from a larger percentage of the allocation that SporkDAO receives from each project, and hence members in those tiers have a larger personal cap. SporkDAO try to ensure part of the allocation needs to reache all premium tiers, resulting a chance to everybody to claim a stake in hot new projects.

Tokenomics:

SPORK is the ecosystem’s native BEP-20 token and will be used for incentives, governance, project development, swaps, and token burns. SPORK is planned to be a cross-chain asset, with future plans of migration to chains such as ERC-20, DOT, and others. As for token holders and liquidity providers, the SPORK token’s ownership makes them eligible for a range of use-cases.

SPORK Use Cases:

The SPORK token has several use-cases within the Spork ecosystem:

- Additional Benefits: Holders of SPORK tokens get additional benefits and better swap rations for pools running on the platform, as outlined before.

-Governance: The Spork platform will implement a DAO consensus mechanism, enabling SPORK holders to gain voting rights by staking their tokens in designated wallets. In general, the mechanism will involve limited-period staking, to be defined in detail at the time of the platform’s governance launch. In the spirit of fair value, and democracy, staking votes will yield rewards based on weight, but 1 vote per staker will be strictly enforced so the protocol is not dominated by larger holders.

- Staking: Spork token holders will be able to generate annual passive income from their SPORK tokens, simply by holding their tokens in specific BEP20 wallets. Periodically there will be staking pools where Spork may stale their SPORK tokens in Farming Pools to receive additional rewards on top of the dividend tax fees.

-LP Pools: Sporks that provide SPORK tokens via specific liquidity pools (Pancake, Uniswap, etc.) will have the change to gain additional rewards, on top of staking rewards generated from dividend tax fees. Simply add liquidity to the specific pool and stake the LP tokens in the corresponding farm.

-Transactions Fees (Dividends, YE Bonus, Burn): Spork token transactions automatically apply a 5% tax for purchase and sales. This tax is collected to incentivize holders with dividend payments on transactions. It is also implemented to prevent front-runner bots from abusing our system. 1% is paid out to all holders, while 3% is sent to the year-end Bonus contract, 0.5% sent to reserve and 0.5% is burn to create deflation. Users that stake their tokens in contracts or simply hold in their wallet will automatically receive all rewards, anywhere tokens are kept.

-Token Burn/Burn Swap: Spork will adopt periodic token burns to increase the value and scarcity in Spork tokens as popularity grows. Spork will also include a Burn Swap for future projects where users will be able to swap SPORK for an allotted amount of tokens of upcoming projects. This will allow users to swap to new tokens, without impacting the price of SPORK negatively. ALL SPORK tokens swapped will be burnt.

-Reserve: Tokens allocated to the reserve are for future intiatives meant to preserve the protocol long term and will also serve as a form of insurance for the SporkDAO users. The reserve funds will be in control of the DAO and use of the reserve funds will be enacted via governance vote only.

Token Sale Metrics:

l Whitelist Sale: 10,000,000 (20% bonus airdrop included)

¡ 1 BNB = 12,500 SPORK

¡ 640 BNB MAX (Unsold tokens will be available to public sale)

¡ Limit on purchase: 10 BNB Max per wallet

l Public Sale: 40,000,000 — After Whitelist concludes

¡ 1 BNB = 11,111 SPORK

¡ 3,600 BNB MAX (Not including unsold whitelist tokens)

¡ Limit on purchase: None, FCFS till sold out

l LP/Staking/Vesting: 25,000,000

n X/Timelock(High Rewards)

n X/Flexible(Low Reward)

¡ 20% Supply released per year

l Development: 15,000,000

¡ 10% Supply released

¡ 15% Timelocked: 6mo

¡ 25% Timelocked: 1yr

¡ 50% Timelocked: 2yr

l Team and Advisors: 10,000,000

¡ 10% Timelocked: 3mo

¡ 15% Timelocked: 6mo

¡ 25% Timelocked: 1yr

¡ 50% Timelocked: 2yr

l Listing Price: 1 BNB = 10,000 SPORK

Token Allocation & Circulation:

Whitelist/Public Sale:

50,000,000 SPORK (50%) will be allocated for pre-sales. Sales will happen in 2 phases. The whitelist commences first, with an allocation of 10,000,000 SPORK. The public presale phase with an allocation of 40,000,000 SPORK, will commence directly after the whitelist sale ends. All unsold tokens will be burnt. 75% of presale BNB will go to liquidity. The token listing will happen on Uniswap shortly after presale Hardcap is reached or the timer concludes. Softcap will be 160 BNB and Hardcap is 4,240 BNB (Assuming all tokens are sold in whitelist/public sales).

Staking (LP/Timelock/Staking) Rewards:

25,000,000 SPORK (25%) will be allocated as staking rewards, to be circulated in the form of Average Annual Yields (AAY) Spork holders who stake their tokens in a compatible farm will be eligible for these rewards. Rewards will come into circulation over a period of 5 yers, with a maximum capping of 5,000,000 tokens per year.

Marketing, Development, and Community Rewards:

15,000,000 SPORK (15%) tokens are allocated for future initiatives, airdrops/rewards for the community, liquidity provisions, and development of the protocol. The fund’s allocation will be disbursed in various (%), after a lock-in period starting at 3 months to 2 years. 10% of funds will be released immediately, with full disclosure of any portion used for any reason.

Team & Advisors:

10,000,000 SPORK (10%) will be allocated for incentivizing the Spork team and its advisors. The team’s allocation will be disbursed in various (%), after a lock-in period starting at 3 months to 2 years. Advisors will receive their allocation similarly but after 6 months of lock-in.

IV. Contact Information:

Official website:

- ETHDenver: https://www.ethdenver.com/

- SporkDAO: https://sporkdao.com/farm

Twitter:

- ETHDenver: https://twitter.com/EthereumDenver

- SporkDAO: https://twitter.com/sporkdao

Medium:

- ETHDenver: https://medium.com/ethdenver

- SporkDAO: https://medium.com/sporkdao

Github:

- ETHDenver: https://github.com/graphprotocol/ethdenver-dapp