Avalanche Hackathon Asia kicks off boundless opportunities for blockchain projects
On February 1, Avalanche announced the official start of the three-month Avalanche Hackathon @Asia. Organized by AVATAR (Avalanche Asia Star Fund) and Dorahacks, the event aims to offer developers and early-stage projects across the globe an opportunity to showcase their ideas and fund their projects. As of February 14, 32 teams submitted their projects and updates on the given schedule.
In 2021, we saw unprecedented growth in the blockchain sector, with token price breaking numerous all-time highs, and a wide diversity of dapps flourishing. The very basis underlying such momentum is strong blockchain infrastructure. As a fast, low-price, and highly scalable public chain, Avalanche receives booming recognition from builders and users in the market. In 2021, the Avalanche ecosystem achieved rapid growth, with more than 400 projects thriving in all areas. In addition, Avalanche launched a wealth of funds and foundations to support ecosystem projects, while fostering links with external institutions and businesses.
Avalanche Asia Star Fund (AVATAR), co-organizer of the Asia Hackathon, is founded to bring professional incubation, fundraising, and asset management services to crypto to drive Web3.0. The super-size prize pool of more than 5,000,000 USD contributed by a league of sponsors and supporters has made this hackathon one of Asia’s largest hackathons over the years. The event welcomes developers, investors, enterprises, and Avalanche fans in Asia or anywhere to submit projects, win prizes, and explore entrepreneurial opportunities.
Web3.0 is an all-emcompassing realm. Avalanche Hackathon @Asia welcomes all kinds of projects to join, including DeFi, Metaverse, NFT, Gamefi, DAO, social, infrastructure & tooling, Web3, and anything beyond our imagination.
Highlights
1. $5M+ in prizes
Ten winning projects selected by a professional judging panel will receive the majority of the $5M prize fund contributed by AVATAR, Blizzard, A&T, NGC, SNZ and other sponsors. It is an unparalleled opportunity to be financed by these top-notch VCs.
Both Blizzard and AVATARcontributes more than $1M to the prize pool of the hackathon. Blizzard is a 200M+ fund dedicated to accelerating development, growth, and innovation across the Avalanche ecosystem.
About 10% of the total prize pool will go to a quadratic funding platform managed by DoraHacks where the global community can vote for projects they believe will bring the most impact to the Avalanche ecosystem. There will be 2 quadratic pools launched where the community can use AVAX to vote in one and XAVA in the other. This is to give projects early exposure to the Avalaunch community as well where they will potentially do their IDO.
2. Support from the Avalanche ecosystem
A selection of ecosystem projects will extend partnership and funding opportunities to top-performers in the hackathon. During the event, featured workshops will be delivered each week, where Avalanche, Ava Labs, and ecosystem projects hold dialogues to share their experience and hopefully inspire hackathon participants.
For example, IDO launchpads can broaden fundraising channels for hackathon projects. Liquidity protocols may select potential partners for liquidity cooperation and IGO platforms can offer IGO opportunities for gaming projects.
It is worth mentioning that Benqi and Platypus will participate as hackathon supporters to offer community assistance.
Other supporters include Avalanunch, Benqi, Platypus, Traderjoe, Islander, Chainlink, Defrost, Heroes Chained, ImperiumEmpires, Symbiosis, Snowball, Alpha Finance, Kine, etc.
3. Interests and attention of prominent figures in the sector
The judging panel consists of crypto veterans in the Avalanche ecosystem and across the industry. They will give professional recommendations at the review stage and support the projects in their capacities.
For example, as a Turkey-based VC, MC Ventures is able to support a project’s expansion in the Turkish market. Dr. Aytunç Yıldızlı, founder of MC Ventures, serves as judge at the hackathon as well as Head of Turkey, Ava Labs.
Tamer Ovutmen, founder of AVenturesDAO, is also on the judging panel, primarily responsible for reviewing DAO projects. He commented on Twitter:
From day one, the main focus of @AventuresDao is to “Support Avalanche projects from ideation to growth” and this event is the perfect fit
Judges at the hackathon also come from Avatar, Blizzard, ANTALPHA, AuSVIC Capital, Bitwell, Elevate, Foresight Ventures, GSR, ViaBTC Capital, Spark digital Capital, SNZ, NGC Ventures, MEXC, Matrixport, Long Hash Ventures, Kucoin Labs, Huobi Incubator, TSING TING CAPITAL, A&T Capital, AMBER, COBO Wallet, Waterdrip, MC Ventures, Aventures DAO, Hailstone, etc.
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. Avalanche is blazingly fast, low cost, EVM-compatible, and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. Avalanche is ready to support the growth of ecosystem projects. Discover the unlimited offerings of Avalanche from this Hackathon.
