Convergence: Serum & Wormhole Hackathon @Asia Blasts Off with $595,000 in Prizes and More Funding Opportunities(Prize Pool Updated!)
“A virtual hackathon with up to $5million in prizes and seed funding”.
*Welcome Slope’s participation as special sponsor and judge! Extra $10K prizes are secured for the hackers 🤩
After a breathtaking year in 2021, we plan to kick off 2022 with an exciting opportunity for innovation during a virtual 4-week hackathon! Convergence: Serum & Wormhole Hackathon, begins on January 5th! DoraHacks is excited to support the projects derived from Asia Pacific. Join the hackathon to win up to $595K global prizes, an additional $5M in seed funding and gain more visibility among the crypto communities and ventures!
Apply now https://hackerlink.io/grant/serum/
Convergence is a Crosschain DeFi focused hackathon that aims to attract Web2 and Web3 developers to build on Solana’s blockchain and leverage Serum’s liquidity infrastructure and Wormhole’s cross-chain bridge. Serum and Wormhole will dive into the essentials of building projects on Solana’s blockchain by hosting a series of live-stream workshops via DoraHacks Youtube.
Projects are invited to showcase their concept and technical infrastructure to the community and judges, as they will sponsor prizes, quadratic funding and community funding. Roll up your sleeves and prepare to hack today!
“Build or create decentralized apps on the Solana blockchain with Serum’s liquidity infrastructure and Wormhole’s cross-chain bridge.”
Register @HackerLink today: https://hackerlink.io/grant/serum/
Benefits to join
- Become a core on Serum’s ecosystem
- Technical aid provided by support workshops, crypto pioneers, and previously awarded projects
- Chances to leverage project demos for stronger community awareness
- Unlock funding opportunities from venture investors
- Compete for $585,000 prizes, including a $25K quadratic funding prize pool, sponsor prizes; and $5M in seed funding.
Submission Period: January 5th, 2022 — January 31st, 2022 (5:00 pm Eastern Time)
Community Voting Period: January 7th, 2022 — January 31st, 2022 (5:00 pm Eastern Time)
Project live demo: First round starting January 13th
Judging Period: February 1st — 8th, 2022
Winners Announced: On or around February 8th, 2022 (9:00 am Eastern Time).
How to Apply
1. Log in to hackerlink.io and click on https://hackerlink.io/grant/serum/ to apply (new users need to register an account first). Slope wallet is recommended to be used. (Few $SOL as gas fee needed)
2. To avoid fake projects participating in the event and sharing the prize pool, please contact DoraHacks on Telegram (@hackerlinkofficial) to verify the authenticity of the project.
3. During the hackathon, we will conduct multiple rounds of project demos. Projects uploaded earlier will gain more attention and exposure and attract more votes and funding opportunities.
4. After the Grant Round, a Grace Period is held to prevent Sybil-attacks and announce the voting results. During the period, project teams need to contact HackerLink to confirm the authenticity of each project. Upon completion, the donation from the community and the sponsor’s prize pool distribution can be withdrawn.
Who can participate?
- Basic Requirement
All the projects that build on Solana and using Serum/Wormhole will be welcome!!
- For Sponsor Prizes
Serum — Defi projects that build innovative solutions on our decentralized liquidity infrastructure and our newly released Serum Core, to increase volume and provide better liquidity to the Solana ecosystem.
Wormhole — Projects that utilize Wormhole’s bridge to build cross-chain solutions to extend the DeFi use-cases in Solana ecosystem and beyond
Slope — Special Prize for Asian developers
PsyOptions — Projects contributing to the PSY DAO & Psy ecosystem
Pyth — Projects that utilize Pyth’s data infrastructure and build new solutions that solve problems in the defi space for individual traders and institutions.
Atrix — Projects that integrate pools and farms to Atrix UI
Terra — Projects contributing to the adoption and usage of Terra’s UST stablecoin and expand Defi use cases in the TerraLuna ecosystem
Additional prizes are offered to HackerLink BUIDLers. Via HackerLink, participants will have the chance to earn shares from the Quadratic Funding and walk away with all received Community Funding (votes).
- 30K Quadratic Funding and Community Funding via HackerLink(25K offered by Serum&Wormhole; 5K offered by Slope)
- Sponsor Prizes(Global): top 5 winners will be granted $100,000 USDC, $60,000 USDC, $30,000 USDC, $20,000 USDC, and $15,000 USDC. The Community Choice Award will offer $30,000 USDC. Wormhole, PsyOptions and Serum will incentivize the top two prize winners with $50,000 USDC and $30,000 USDC, respectively. Atrix, Pyth, and Terra will offer $30,000 USDC each.
Sponsor Prize Judging Criteria
The submitted projects will be judged by members of the DeFi and CeFi community. Your projects will be seen and rated by crypto celebrities like Sam Bankman-Fried from FTX, Raj Gokal from Solana Labs, Kyle Samani from Multicoin Capital, Matthew Graham from Sino Global, Dan Matuszewski from CMS, Paul Veradittakit from Pantera Capital and Chris McCann from Race Capital, and MORE!
- Matching to submission track
The solution has to match the submission prize track’s requirements.
The solution has to be working, solve one or more business problems and be economically viable
- Code quality, technical documentation
The solution should have a clean code base with documentation.
- Project video
The submission includes a demo video of the solution, covering the vision and user experience, and value proposition of the project.
What’s Quadratic Funding? How does it work?
Quadratic Voting is a voting scheme introduced and often discussed in the Radical Markets community. It is often considered an innovative improvement of the traditional 1-person-1-vote or 1-dollar-1-vote voting schemes. With a quadratic funding algorithm, the cost of each vote to a single project from a single contributor will increase, which encourages community contributors to donate to more projects.
Check more details at https://hidorahacks.medium.com/what-is-quadratic-voting-funding-how-did-we-improve-it-70989e813cf9
Serum is a protocol and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance. It is built on Solana and is completely permissionless. Ecosystem partners can compose with Serum’s on-chain central limit orderbook to share liquidity and power markets-based features for institutional and retail users. View more here: https://docs.projectserum.com/introduction/overview
DoraHacks is a global hackathon organizer and one of the world’s most active developer communities. HackerLink (https://hackerlink.io/en) is DoraHacks’ open source developer platform and open source curation market. HackerLink provides unique on-chain tools to incentivize open source developments around the world. The platform is offering features including hacker profile, BUIDL, quadratic funding grants, bonding curve, bounties, hackathons to more than 100,000 users around the world.
Anti-Sybil Attack Check Notification
This grant is followed by a grace period. During this grace period, HackerLink has run a close-source program to analyze all the votes that it received and detect if there are any Sybil attacks from the quadratic voting mechanism. The final results will be released on hackerlink.io afterward.
Please note that the smart contracts generated from the Website will arrange and transfer the donated fund, to conduct quadratic funding algorithms, and distribute contribution funds to the projects of which the voting results in favor. Please understand that the website cannot guarantee the authenticity, legality and validity of the project information, though admins will contact the projects to verify the validity with their best effort. Please be aware of the risks of donation and voting and make rational decisions. Serum, HackerLink, or DoraHacks aren’t held responsible for any adverse consequences if any.