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Tuesday, May 24, 2022

Solana Has Invested In A DeFi Hackathon Which Has A Prize Pool Of $200,000

Solano has announced a hackathon for DeFi- which would consist of a prize pool of around $200,000, along with a seed funding of $200,00 for developers. This hackathon will start from the 15th of February to the 1st of March, and in collaboration with Sam Bankman-Friend of the Project Serum of FTX. The collaborating partner Bankman-Fried will be providing mentorship to most of the participants along with the CEO of Solana Anatoly Yakovenko. 

The firm stated that most of the success of the ecosystem depended on how far the community progressed. And with the current growth, there was no point in denying that Solana had set a major precedent as the most on-chain ecosystem in the world. 

Solana’s Hackathon Will be a Good Opportunity For Aspiring Developers

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The participants of the hackathon would be competing for a prize pool that consists of $200,000, where the judges for the events would be Jeremy Allaire, Meltem Demirors, Stani Kulechov, and Bobby Ong. The hackathon has been able to bring in more developers that would explore the Ethereum bridge for Solana- which is bi-directional.

The ‘wormhole’ as it is called- would be a part of the new oracle integration of Chainlink. In an interview with Cointelegraph, Yakovenko mentioned his excitement in checking up on how many recurring participants would participate in this year’s hackathon. He emphasized on the benefits that the offers from Solana would have on the developers through their continued support towards toolchains that were traditionally a compiler. 

The founder of Solana also spoke about the adoption of DeFi, wherein he steed that there was a major need for this sector to come out in the open. He has forecasted that the savings account of BTC would definitely be a possibility in the coming future. 

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