Diora Community Update #1 📨

Diora
5 min readDec 16, 2022

Diora Phase 1 is Now Complete

We are happy to announce our team has completed stage 1 of building the Diora ecosystem and will be moving into the next stage of our roadmap; which features growing our community and moving into our incentivsed testnet.

Over the past few months, we have been listening to your feedback and suggestions, and we have been working hard to improve and grow our platform. We are committed to providing a seamless and user-friendly experience for our community.

With the upcoming launch of our incentivised testnet and Kusama parachain in early 2023, our team has been working hard behind the scenes and is looking forward to announcing strategic partnerships and developer integrations for the Diora ecosystem within the next upcoming weeks.

Polkadot North American Hackathon Winner

The North American hackathon was the second in a series of events that brought the cutting edge of blockchain to a global community. The hackathon was an overwhelming success. In association with AngelHack, this all-virtual six-week hackathon is your chance to join fellow developers to build, break, and experiment with blockchain to your heart’s content!

Developers from over 100 countries came together to get hands-on with the tools that power innovation across the Polkadot ecosystem.

After an extended period, we are finally happy to announce that Diora Network won first place in the DAO & Governance category of the Polkadot North American Hackathon for $20,000.

We look forward to competing and funding prizes in future Polkadot & Kusama-based events.

Kusama Parachain Announcement

We are happy to announce our Kusama smart contract parachain “Diosa”, which will go live in early 2023.

Diosa will utilise the DPoS consensus mechanism and targets an 8% annual inflation rate and, as such, has an uncapped 100 million initial token supply.

The purpose of inflation in Diosa is to pay for the ongoing security needs of the network. The primary security budget items are to pay for a parachain slot on an ongoing basis and to incentivise collators (masternodes) to provide collation (block production) services to support the Diosa network. Of the 8% inflation, 2% goes towards incentivising masternodes, 2% goes towards incentivising dapp developers, and 0.5% goes to the parachain bond reserve to accumulate on-chain funds to pay for a parachain slot in perpetuity. The remaining 3.5% is for users that stake their XDA tokens and help power the masternode and dapp staking selection process.

Diosa will provide an alternative live blockchain environment for DioraDAO developers, and we aim to build Diosa into a top competing Kusama parachain.

You can find out more in the docs and economics paper and visit the landing site for Diosa now at diosa.network

Economics Paper is Published

We are excited to announce that our economics paper is now available for viewing! This paper covers the tokenomics of our Diora and Diosa tokens, the structure of our DioraDAO, and how we believe our ecosystem will bring value for investors, developers, and users.

Some key points from the paper include:

  • The Diora and Diosa tokens will be used to incentivize participation and reward contributions to the DioraDAO ecosystem.
  • The DioraDAO will be a decentralized autonomous organization that will govern the distribution and use of the Diora and Diosa tokens.
  • We believe that our ecosystem will create value for investors by providing a secure and stable platform for token holders to earn rewards.
  • We also believe that our ecosystem will provide value for developers by offering a range of tools and resources to build and deploy decentralized applications (dApps).
  • Finally, we believe that our ecosystem will provide value for users by offering a wide range of services and applications that are accessible and user-friendly.

To view the full economics paper, please visit our website at https://dioradao.net/economicspaper.pdf. We welcome your feedback and suggestions, so please don’t hesitate to contact us with any questions or comments.

Build The Future of Web3 With DioraDAO

Are you interested in building the future of web3 and making decentralized finance (DeFi) accessible to anyone with an internet connection? If so, then DioraDAO is the perfect company for you!

One of the key benefits of working at DioraDAO is that we are a fully remote company. This means that you can work from anywhere in the world and still be part of our team. We are committed to capturing the best talent, regardless of location, and providing a supportive and inclusive work environment.

htpps://dioradao.net

We are currently looking for the following positions.

  • Ambassadors
  • Rust Developers
  • Solidity Developers
  • Front-End Developer
  • Social Media Manager
  • Community Manager

If you are interested in joining our team and contributing to the future of web3, please visit our website at dioradao.net to learn more about our current job opportunities. We look forward to hearing from you!

Contact Us

Any questions? Please get in touch.

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Diora

Diora Network is a incentivised Smart Contract Parachain, utilizing advanced PoSM with Double Validation & Randomization for security guarantees.