Solana Foundation Launches Global Cypherpunk Hackathon With $2.5M In Prizes And Accelerator Opportunities
Non-profit group centered on selling decentralization, adoption, and safety throughout the Solana community, Solana Foundation introduced the launch of the Solana Cypherpunk Hackathon. This world competitors is being performed by way of Colosseum’s on-line platform and can run till October thirtieth. Participants could have the chance to compete for prizes, pre-seed funding, and potential admission into Colosseum’s accelerator program. Colosseum’s enterprise fund will allocate over $2.5 million in capital to pick winners.
Colosseum’s hackathons differ from conventional codecs, combining intensive engineering and enterprise sprints the place high builders compete for awards and funding throughout a number of classes. The Grand Champion, sponsored by Phantom, will obtain $30,000 in USDC-SPL. Additional prizes starting from $5,000 to $25,000 USDC can be found throughout a number of tracks, together with Consumer Apps by Raydium, DeFi by Arcium, Stablecoins by Reflect, RWAs by Forward Industries, Infrastructure by Triton, and an Undefined class by the Solana Foundation for unconventional concepts.
Special awards embody the University Award, granting $10,000 USDC to one of the best scholar staff, and the Public Goods Award, additionally valued at $10,000 USDC, for groups growing open-source expertise that advantages the ecosystem.
All prize winners can be thought of for Colosseum’s accelerator, with as much as 15 groups chosen to obtain $250,000 in pre-seed funding, entry to an unique mentorship community, personal options on the Colosseum platform, in-person help at Colosseum’s San Francisco workplace, and extra sources. The program will culminate in a Demo Day, providing accelerator groups the chance to pitch main cryptocurrency enterprise capitalists.
Colosseum Hackathons Encourage Diverse Teams And Ambitious, Market-Driven Crypto Projects
Colosseum hackathons differ from conventional developer-only occasions by encouraging participation from each technical and non-technical staff members. Many earlier winners had been constructed by groups that mixed builders with cofounders skilled in advertising, finance, operations, design, product administration, and different roles. Non-technical individuals are suggested to collaborate with a technical lead, because the competitions require each engineering and enterprise experience.
Additionally, the platform recommends constructing merchandise that create completely new markets enabled by cryptocurrency or enhance present markets by bringing them on-chain. Participants are inspired to develop options for issues they personally perceive, leverage their prior trade expertise, and pursue formidable concepts—even these which were tried beforehand.
Furthermore, in Solana’s on-line hackathons, the ultimate presentation is a key element because of the high quantity of submissions. The presentation slide deck and video are essential for standing out. During the ultimate week, groups are suggested to deal with making a concise video presentation, ideally utilizing Loom, highlighting the staff background, product description, motivation for constructing the product, potential market alternative, methods for preliminary adoption or traction, and a product demo. Presentations have to be underneath three minutes, requiring individuals to inform their product story effectively, reveal performance, and clearly convey why the mission has the potential to turn into a number one cryptocurrency innovation.
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