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Venom Foundation Launches Hackathon With A $225,000 Prize Pool

The event aims to equip developers with all the tools and resources necessary to start building on the Venom blockchain.

Venom Foundation Launches Hackathon With A $225,000 Prize Pool

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Venom Foundation has teamed up with DoraHacks, Developer DAO, and Hacken to launch its first-ever virtual hackathon. The event aims to equip developers with all the tools and resources necessary to start building on the Venom blockchain. While registrations begin on the 27th of April 2023, the hackathon is set to kick off on the 8th of May, 2023.

The hackathon comes on the heels of Venom’s testnet launch, which went live earlier this week. This is a significant development that will welcome a new influx of users and developers. The testnet will further allow developers to test and debug dApps and blockchain protocols, while also providing users with a firsthand experience of these dApps. The ultimate goal of the testnet is to promote innovation and community building within the ecosystem. It will pave the way for more significant events, with the hackathon being the first of many.

Venom’s organizing partner for the hackathon is DoraHacks, the global hackathon organizer and one of the most active Web3 developer incentive platforms. Meanwhile, Developer DAO and Hacken will provide marketing and incentives support.

Developers, both individuals and teams, will be able to submit their applications after the opening ceremony. Participants will be required to submit their projects before the 10th of June, 2023. Once project submissions are complete, they will be evaluated by a panel of judges, all with their own individual expertises. Some of the most notable being Peter Knez, Ex CIO Blackrock, and David Atkinson, the co-founder Holochain.

Christopher Louis Tsu, CTO of Venom Technology and one of the judges, said:

“We’re thrilled to host this hackathon, as it will be a catalyst for innovation and creativity within the Venom ecosystem. The event will allow us to expand our library of decentralized applications, as well as attract and grow a talented pool of developers. This is a unique opportunity for developers and builders to drive forward the decentralized ecosystem and push the boundaries of what is possible.”

Participants will be given the option to develop a project based on three tracks—(i) Web3, NFTs and Gaming, (ii) DeFi, (iii) Tools and Infrastructure. Be it soulbound tokens, stablecoins or crypto wallets, participants’ skills and creativity are put to the test over the span of five weeks.

The hackathon will commence with an opening ceremony on the 8th of May, followed by workshops spread out over several days. The workshops will be released throughout the course of the hackathon and will cover a range of key topics – how to create a smart contract, creating a non-fungible TIP-4 token, connecting a dApp UI to Venom, and more.

Finally, the hackathon concludes with an award ceremony on the 17th of June, 2023. The top three winners from each category will be announced, with first-place winners bagging $30,000 each. The first-place winners in all three categories will also get a free security audit from Hacken, covered by Venom. Additionally, honorary mentions will be awarded to three teams in each category, with each team walking away with $3,000. The total prize pool for the hackathon is $225,000, which is the combined value of the cash prizes, security audits, and other incentives.

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