Serum Announces Cross-Chain DeFi Hackathon in Collaboration with Wormhole

The leading DEX on Solana will conduct the Convergence hackathon with a focus on cross-chain interoperability.

By
Anirudh Tiwari
on
December 21, 2021
Category:
Breaking News

Up to $5 Million in Prizes & Funding for Web 3.0 Projects

Serum has announced the launch of a cross-chain DeFI online hackathon, on Dec. 20, in partnership with Wormhole, the bridging solution.

The hackathon will focus on cross-chain interoperability and aims to attract developers building in the Solana ecosystem using Serum’s DEX and liquidity infrastructure, Wormhole’s cross-chain bridge functionality, and technology from other sponsors of the hackathon. Projects participating in this hackathon will be competing for eight different prize tracks that will have up to $5 million worth of prizes and funding for the winners. Developers can submit their projects between Jan. 5 to Jan. 31, 2022.

“The Convergence Hackathon is an incredible opportunity for developers building on the Serum, Wormhole, PsyOptions, Terra, Atrix (and more!) to submit what they’re building and to be considered for a variety of prizes!,” mentioned the official Medium blog elaborating on this hackathon. 
Source: Project Serum Medium

The project submissions in this hackathon will be judged by several eminent personalities of the DeFi and CeFi community like:

  • Sam Bankman Fried from FTX
  • Raj Gokal from Solana Labs
  • Kyle Samani from Multicoin Capital
  • Matthew Graham from Sino Global
  • Dan Matuszewski from CMS Holdings
  • Paul Veradittakit from Pantera Caital
  • Chris MacCann from Race Capital
  • And several others…

The eight tracks for this hackathon and the associated prizes are:

  • Main Prize - $225,000 split between the first 5 places
  • Community Prize Award - $30,000
  • Serum Award - 1st prize is $50,00 and runner up prize is $30,000
  • Wormhole Award - 1st prize is $50,00 and runner up prize is $30,000
  • PsyOptions Award - 1st prize is $50,00 and runner up prize is $30,000
  • Pyth Network Award - $30,000
  • Atrix Award - $30,000
  • Terra Award - $30,000

What is Project Serum?

Serum is a leading DEX built on the Solana blockchain network and is completely permissionless. The DEX uses an on-chain central limit order book (CLOB) and matching engine to provide liquidity and price-time priority matching to investors and projects in the ecosystem. As previously reported by Solana.News, the DEX integrated with Vybe Network to add its analytics dashboard to the portal.

Find more about Serum here:

Website | Twitter | Whitepaper | Github | Telegram | Medium | Discord |

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Anirudh Tiwari

Anirudh is a cryptocurrency analyst and writer who specializes in derivatives, DeFi, regulations and CBDCs. He has a Master’s degree in Finance. Before delving into crypto, he worked with a leading U.S. based investment bank. Apart from work, he is a music connoisseur and likes to play the drums.