One of the largest crypto exchanges in India, CoinDCX announced on Sunday 23rd may 2021 that they will be organizing a hackathon in partnership with DevFolio and high-performance blockchain protocol Solana to strengthen India’s crypto market.
Solana, a layer 1 proof of stake protocol delivering decentralized scalability and security for Web 3 applications, is already running its Season Hackathon that began on May 15. It will run for 20 days and will end on June 7.
The Solana Season Hackathon has a global prize pool of $400k. On top of it, there is seed funding support, adding up to a total of $1 million in prizes. There are 3 tracks - DeFi, Web3, and NFT, each with 1st, 2nd, and 3rd place winners who will receive $20k, $10k, and $5k prizes in USDC-SPL, respectively.
Devfolio and CoinCDX would contribute to the event’s India track by adding a $50,000 prize to the pool, a fraction of the $1 million prize total.
The blockchain ecosystem has enabled the proliferation of decentralized markets and is establishing a more open, transparent, and efficient financial system. The idea and motivation behind this hackathon are that it will bring together developers, designers, business operators, and entrepreneurs to experiment and deploy apps/tools that push the DeFi ecosystem forward. Anyone from anywhere who has an active Internet connection can join the hackathon. The only requirement is for the builders to incorporate Solana or Serum into their project.
You can check out the official Solana hackathon GitHub page for comprehensive developer resources and a list of project ideas. As long as you have an active internet connection, you can participate in this hackathon from anywhere in the world and you can use Solana’s speed, low fees, and newly released DeFi building blocks to create DeFi apps and tools that scale the overall ecosystem to become more efficient, powerful, and sustainable.
How to participate in the crypto hackathon?
Individual or team needs to build a project using the guidelines and resources mentioned above and submit the project before the deadline. Once all submissions are done, the Solana Foundation will create and distribute a filtered list to the judges for evaluation. The evaluation criteria for teams and individuals are given below -
- Functionality
- Potential impact
- Novelty
- Design
- Composability
Once judges evaluate the submitted projects, the hackathon organizer will have a discussion to select winners based on the project’s weighted score. The hackathon will also give winners an opportunity to get interviewed by our CoinDCX Co-Founder, Neeraj Khandelwal for job opportunities.
