Solana Season Hackathon Comes to an End

The competition encouraged developers to utilize the unique qualities of scalability that Solana possesses.

By
Utulu Hope
on
June 8, 2021
Category:
Breaking News

Introduction

The Solana Season Hackathon has ended. The fast, secure, and censorship-resistant blockchain announced its conclusion via Twitter on the 7th of June. The competition, which began on the 15th of May, was created to help new projects on Solana, ensuring that they become part of its fastest-growing crypto ecosystem. The competition lasted for three weeks, with prizes and seed funding up to $1million for project development. 


What Is the Solana Season Hackathon? 

Source

The Solana Hackathon is a competition where judges evaluate projects based on their technological capabilities without considering their legal viability. The participants who took part in the just-completed event created software solely for judges' evaluation and not for commercial purposes or launching. This was part of the rules set for the competition, which focused on Web3 development, Decentralized Finance (DeFi), and Non-fungible Tokens (NFTs).


Breakdown of The Competition 

The competition featured up to $1million in prizes and seed funding. The peak of the successful event is a $30,000 grand prize, which will be awarded to the team with the best-submitted project. There are winners in each category, called a “track” for the sake of the competition. The rewards across each track will be comparable in scale. First place gets $20K; second place gets $10K, and third place gets $5K in USDC-SPL. 

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Apart from the prices gotten from participation, participants in specific countries had the opportunity to compete for regional prizes. These countries include China, India, Eastern Europe, and Brazil. In summary, the regional prizes obtained are as follows: 

  • China track had a total prize pool of $125K with support from Serum and Raydium.
  • India track had a prize pool of $50K, supported by Devfolio and CoinDCX. 
  • Eastern Europe had the highest prize pool of $180K endorsed by Hacken. 
  • Brazil had the least prize pool — $25K, supported by BRZ. 


Final Thoughts 

Following the completion of the Solana Hackathon event, projects building on Solana will have the opportunity to connect with leading venture capitalists. In essence, the competition is a platform for these upcoming projects to get connected to the big names in the Solana ecosystem. With the seed funding, they also have an added incentive to accelerate the growth of their projects. Solana Foundation keeps making big moves towards expanding its ecosystem. After the quality projects that were entered in the just-concluded event, expect more projects building on Solana in the near future.

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Utulu Hope

UC Hope is a passionate fan of crypto who could weave the latest event into sparks of inspiration and information. He leaves no stone unturned to get to the core of a story. Aside from writing, he spends his hours poring over algorithms and protocols, preparing for a future career as a computer programmer.