Hedera Hackathon Invites Developers to Win a Share of $500,000

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Build the EVM compatible dapps with Solidity Smart Contracts on Hedera

Hedera invites developers to join its first-ever Solidity Smart Contract Hackathon. This is a chance for developers to turn their ideas into the next game-changing dapps and win part of the $522,500 prize pool.

Summary:

  • There will be three global winners to share $300,000 in cryptocurrency and over ten different challenges to share the rest of the prize pool.
  • The Hackathon requires developers to build dapps, protocols, and ecosystem tooling with Hedera Smart Contract. 
  • The hacking period is from March 31 till May 16, 2022.

Hashgraph, the innovation of Hedera, is a uniquely structured technology that is similar to blockchain technology. In the graph-like network of Hedera, all the nodes can efficiently communicate their information to complete the task that a distributed ledger does. Notably, Hedera is expected to deliver a decentralized infrastructure that is faster, more efficient, and energy-saving than blockchain technology.  

As a result, it is no wonder that Hedera is the most used enterprise-grade public network for organizations, startups, and creators to build decentralized applications. Moreover, the Hedera Smart Contract is EVM compatible to run Solidity, and developers can either start from scratch or port over existing Solidity code in minutes onto Hedera. Both can benefit from leveraging HBAR, the Hedera native token, to facilitate your in-dapp ecosystem. 

Starting from March 17, Hedera invites developers to its latest Hackathon and explores the new EVM-compatible Hedera Smart Contract Service, to build dapps, protocols, or ecosystem tooling. 

Hedera Hackathon Challenges & Prizes

Hedera requires developers to use the Hedera Smart Contract Service to create dapps and tools in this hackathon. Plus, there are various sponsored challenges that developers can participate in, and developers are free to join more than more of them. A $522,500 prize pool will be awarded to the best projects. 

Judging criteria

  • Challenge Fit: How relevant is the project to the stated challenge?
  • Innovative Vision: Is the project creative, new, and disruptive?
  • Market Potential: Is it solving problems with real-world practicality?
  • Technical Execution: How has the team effectively utilized the available technologies? How ready is the app to be launched?

Global winners

The top 3 overall winners who meet all the judging criteria will share a portion of the prize pool totaling $300,000 worth of HBAR, distributed as follows:

  • 1st Place: $150,000 worth of HBAR
  • 2nd Place: $100,000 worth of HBAR  
  • 3rd Place: $50,000 worth of HBAR

Sponsored challenges

The sponsored challenges cover many industries, aiming to utilize Hedera’s decentralized technology to empower more businesses. It is worth mentioning that Hedera hopes to bring more equality and social value to the current world while providing better decentralized technology for businesses and enterprises. Therefore, this Hackathon also includes challenges that empower women and support sustainability.

DAO Accounting Challenge – Sponsored by UCL

This challenge encourages the proliferation of more transparent accounting for DAOs by creating a protocol standard to drive on-chain bookkeeping.

Prizes:

  • $15,000 worth of HBAR
  •  Lifetime membership to the UCL Centre for Blockchain Technologies Industry program
  • 1-hour interview with the Executive Director of UCL CBT, Paolo Tasca
  • 1-year invitation to the UCL Industry Exchange Network (IXN) program
  • 3 Vouchers to attend the P2P Financial Systems International Workshop
  • T-Shirts

DeFi NFTs Challenge – Sponsored by Suku

This challenge requires the team to launch a DeFi protocol that uses the Hedera Token Service to interact with fungible and non-fungible tokens. For instance, to enable holders to use NFTs as collateral or lend gaming NFTs over some time.

Prizes:

  • 1st place – $3,000 worth of Suku tokens or USDT, InfiniteWorld swag & opportunity to interview for a job at InfiniteWorld.
  • 2nd place – $1,500 worth of Suku tokens or USDT, InfiniteWorld swag & opportunity to interview for a job at InfiniteWorld.
  • 3rd place – $500 worth of Suku token or USDT, InfiniteWorld swag & opportunity to interview for a job at InfiniteWorld

DeFi Primitive Challenge – Sponsored by Calaxy

This challenge requires developers to create the best lego to help fuel decentralized finance on the Hedera network.

Prizes:

  • $5,000 
  • Each member of the winning team will have the opportunity to be interviewed for roles on the Calaxy team if they are interested.
  • Continued mentorship from the Calaxy engineering team.
  • Exclusive Calaxy swag bag.

Enterprise DeFi Challenge – Sponsored by Google

This challenge invites projects that support enterprises to tokenize equity, bonds, or other balance sheet items, connecting them to DeFi concepts utilizing Hedera Smart Contracts, Token Service, and GCP.

Prizes:

  • 1st Place – $10,000 USD worth of HBAR & $10,000 worth of GCP credits
  • 2nd Place – $5,000 worth of HBAR & $5,000 worth of GCP credits

IPFS Storage – Sponsored by Filecoin

The best use of IPFS for content addressing and/or Filecoin for decentralized, persistent storage.

Prizes:

• Grand Prize (1) – $10,000 USD worth of FIL

• Runner Up (2) – $5,000 USD worth of FIL

• Other Qualifying Teams (up to 10) – $500 USD worth of FIL

Metaverse Challenge – Sponsored by the HBAR Foundation

In this challenge, developers need to deliver the best smart contract use case for the metaverse leveraging Hedera technology.

Prize:

• $15,000 worth of HBAR

Sustainability Challenge – Sponsored by Avery Dennison, Atma.io

This challenge requires developers to deploy a smart contract for a sustainability use case, like using a carbon-offset token.

Prize:

• $15,000 worth of HBAR

• Mentoring sessions and virtual lunches with the Atma.io team, which will include the head of product, head of engineering, and technical director.

• Full package of Atma.io swag for each team member!

Women in Web3 Challenge – Sponsored by the HBAR Foundation

This reward will go to the best project with a team comprised of at least 50% women.

Prize:

• $15,000 worth of HBAR

A complete list of challenges can be found on Devpost.

Submission requirements & timeline

 A team consisting of up to 5 members needs to create a decentralized application, protocol, or developer tool that encourages the use of the Hedera Smart Contract Service. Teams need to submit a link on Devpost to their codebase to allow judges to demo their dapp or platform. Additionally, a link to a pitch video for the project is also required, which should be no more than 5 minutes long.

Timeline

  • Registration opens: March 17th, 2022
  • Hacking: March 31st at 9 am PT – May 16th at 11:49 pm PT

Find out more about Hedera and the Hedera Hackthon:

Devpost

Website

Twitter

Discord

Medium

Disclaimer — This is a sponsored article. DappRadar does not endorse any content or product on this page. DappRadar aims to provide accurate information, but readers should always do their own research before taking action. Articles by DappRadar can not be considered as investment advice.

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