Harmony Invites Dapp Developers for Million Dollar Hackathon

Over $1,000,000 in prizes and seed funding up for grabs!

The Harmony Blockchain hackathon has already kicked off but there is still time to get involved. The event aims to “bring traditional finance to decentralized finance’ and is also offering an impressive $1,000,000 in prizes and seed funding. Moreover, Harmony believes that many people working in traditional finance are interested in blockchain, but not totally ready to jump in head-first. 

The hackathon runs until the 30th of August and consists of three core tracks comprised of more defined areas for development. 

Track 1: Cross-Chain with Trustless Bridges

The first hackathon theme is Cross-Chain which focuses on Harmony on-chain bridges. The 4 tracks within are broadly defined as — Liquidity, Middlewares, DeFi/NFT/DAO, Platform — emphasizing the current product-market fits of decentralized applications but across multiple chains. Developers can make use of Harmony’s cross-chain API for aggregation and asset pools; Ethereum-compatible indexing, names, and toolkits; and, unique technical features including randomness opcode, on-chain delegation and aggregated signatures, FlyClient bridges, and fast state sync with message gossips.

Besides advancing this cross-chain infrastructure, there are also many product ideas that can take advantage of Harmony trustless bridges. For example, building arbitrage bots or integrating stablecoins, and savings products with our Terra bridge.

Track 2: Social Wallet with Keyless Security

The second hackathon theme is On-Chain using Harmony social wallets and keyless security. The 4 tracks — Frontends, Web3, Web2, and Security emphasize the consumer experience of satisfying users’ demands without worrying about blockchain technology or custody. Wallets are becoming the Web3 portals as a DeFi dashboard for asset swaps and investments, an NFT gallery for collectible editorials and auctions, or a DAO to enable governance votes or payrolls. The hackathon encourages seamless onboarding and incentivized education for smart contract wallets; builders can start from audited prototypes featuring authenticator-based security and on-chain account recovery.

At this hackathon, cryptography or security researchers can extend Harmony authentication to multiple factors, verify implementations with formal methods, or prototype based on the latest research papers.

Track 3: Cross Border with Fintech Integrations

Lastly, the third hackathon theme is Cross-Border with fintech and social integrations. The 4 tracks — Gateways, Corporate, Regional, Impacts — emphasize the real-world value for business and communities across countries. Developers can replicate many centralized services like fiat exchanges, over-the-counters, credit cards, or even corporate finance. Many global businesses and most decentralized teams are already facing the pain of scaling. In turn dealing with employee payrolls, retirement benefits, medical insurance, and expense compensations. 

$1M is up for grabs! 

As described, there are 3 main themes and within each theme, there are 4 tracks. For each of the 12 tracks, the prize pool is $81,000. The judges will select the following winners and prizes:

Top Prize: $20,000

Second Prize: $10,000

Third Prize: $5,000

Pool Prize: $6,000 divided up for all projects with a qualified submission: a smart contract deployed on Harmony mainnet / testnet. The pool prizes are entirely up to the discretion of the judges.

Each track will then have 4 follow-on grants of $10,000 each to give out in the 3 months after the hackathon for any winner reaching any of the below goals. Importantly, these milestones must be reached by December 31, 2021, before the grants expire.

• Mainnet launch with at least 1,000 users
• $100,000 in independent funding
• 100 active DAO members in the forum

For more full information around grants and funding rules and regulations see HERE

That’s not all

Around the hackathon is a program of speakers focussed on delivering high-quality content around the theme of bridging traditional finance or tradfi to DeFi will be on hand to deliver presentations on the following topics. 

For full details of the Hackathon click HERE 

To register for the Hackathon click HERE 

Wait, but what is Harmony?

Harmony is all about scaling Ethereum dapps and making decentralized finance cross-chain. The blockchain solution can run Ethereum dapps with 2-second transaction finality, while transaction costs are at least 100 times lower. This makes Harmony an ideal solution for dapps looking to flee the increasing Ethereum gas prices. 

Harmony wants to be the bridge that crosses all blockchains and is already spreading its native token across the ecosystem. SushiSwap is now active on the Harmony blockchain, but the native ONE token can also be traded on Ethereum. It’s an example of Harmony’s ambition to be omnipresent. 

Despite their focus on the financial sector, Harmony also supports NFTs. With its DaVinci Gallery, it already offers a premier NFT marketplace for digital collectibles and artworks. All payments here happen in the native ONE token. DappRadar will start tracking DeFi protocols, DaVinci, and many other dapps in a few months from now. 

Users interested in using dapps on Harmony can simply use Metamask as their preferred web3 wallet. In addition, there’s the native Harmony One wallet. 

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