Venom Foundation Launches $225,000 Prize Pool Virtual Hackathon with DoraHacks, Developer DAO, and Hacken

Venom Foundation, an ADGM-licensed decentralized network that seeks to foster the acceleration of global Web3 projects, has partnered with DoraHacks, Developer DAO, and Hacken to launch its first virtual hackathon.

DoraHacks, the renowned global hackathon organizer and one of the most active Web3 developer incentive platforms will be joining efforts with Venom to organize the hackathon. Additionally, Developer DAO, a decentralized autonomous organization that globally unites developers, researchers, and entrepreneurs, in collaboration with Hacken, a renowned cybersecurity company that secures businesses against cyber threats, will be providing marketing and incentives support for the event.

Following an official press release today, the newly debuted virtual hackathon aims to equip developers with the tools and resources necessary to build on the Venom blockchain. Moreso, the hackathon’s goal is to promote innovation and community building within the ecosystem of the recently launched Venom testnet, paving the way for more significant events.

By providing a firsthand experience of dApps, the testnet will enable developers to test and debug blockchain protocols while also allowing users to try out these dApps.

According to the announcement, the hackathon will run from May 8th to June 10th, 2023, with registrations beginning on April 27th, 2023. On May 8th, the hackathon will begin with an opening ceremony, followed by various workshops that will cover several topics, such as designing a smart contract, developing a non-fungible TIP-4 token, and linking a dApp UI to Venom. The hackathon will wrap up on June 17th, 2023, with an award ceremony announcing the top three winners in each category.

Hackathon participants will be required to submit their projects by June 10th, of which they can develop a project based on three tracks, namely Web3, NFTs and Gaming, DeFi, and Tools and Infrastructure.

Afterwards, a panel of judges will evaluate the submitted projects, including Peter Knez, Ex-CIO of BlackRock, and David Atkinson, co-founder of Holochain. Each category will announce its top three winners, with the first-place winners receiving $30,000 each. Moreover, first-place winners from all three categories will be eligible for a free security audit from Hacken, sponsored by Venom.

Furthermore, three teams in each category will receive honorary mentions and a prize of $3,000. The total prize pool for the hackathon will be $225,000, including cash rewards, security audits, and other incentives.