First Tezos Hackathon Announced by Gitcoin with $75,000 Prize Money after Two Parties’ Integration

Published July 8, 2021 | Updated July 8, 2021

Gitcoin x Tezos

First Tezos Hackathon Announced by Gitcoin with $75,000 Prize Money after Two Parties’ Integration

Gitcoin, a community forming financial freedom, producing digital public goods, and working on the future of the open web, made an announcement about its integration with Tezos earlier today. This integration will involve the platform with developments of projects including tooling, applications, and infrastructure that can be a support of the Tezos ecosystem.

This integration also offers new opportunities for the universal, open-source Gitcoin community to develop on Tezos, which is the first and longest-running, energy-efficient Proof of Stake Blockchain. The NFT Me, You Can DAO It hackathon will be hosted by Gitcoin from July 21. A total of $75,000 in prizes will be divided among ten winners.

This is going to be the first of eight Tezos hackathons that are going to be held during the next two years with an extensive collection of prizes. A hackathon is a month-long virtual event that encourages open-source builders and talented creators to be a part of expanding the DAO and NFT ecosystems on the platform of Tezos.

Tezos and Gitcoin

Gitcoin is one of the leading communities of open-source builders that assist in the launch and growth of Web3 projects. More than 300,000 developers are active on the platform per month to contribute to about 2,000 projects. Gitcoin is striving to develop an open-source internet that would also be economically empowering and collaborative. On this mission, the platform has funded almost $25m for open source projects. Currently, the Gitcoin community is concentrating on forming infrastructure and community for Web3 with networks, tools, and technologies that would allow people to work on the open internet.

The third anniversary of Tezos was celebrated in June. During these years, the platform has surpassed 2 million contract calls that were driven by NFT and DeFi ecosystems. Since the beginning of 2021, network activity has risen 1200 percent as numerous apps and marketplaces have been launched across the Tezos ecosystem by the growing Tezos community of music labels, sporting franchises, game developers, DeFi builders, book creators, and more.

Tezos is well-known for its time-tested token standards and smart contracts that are more than qualified to take care of the complexities demanded by NFT, DAO, and DeFi builders. The platform has undergone several network upgrades; six to be exact. These upgrades have helped in increasing transaction speed, reducing gas fees, improving token standards, and more. Tezos upgrades are initiated by its on-chain governance where improvements are proposed continuously, and then adopted and deployed without relying on forks.

Details about Hackathon

As explained earlier, a hackathon is designed in order to encourage contestants to expand on the latest primitives in the Tezos ecosystem for DAOs and NFTs. Participants are welcome to develop new NFT platforms, innovate on existing cases, and build features that are highly requested from the creative community of Tezos. For DAOs, frameworks for DAOs can be explored by participants to enable particular use cases like battle-proof Minimal Viable DAOs and Curation DAOs ready to be built upon and forked repetitively, tooling for voting based on off-chain token, or for management of DAO treasury.

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Hackathon submissions are considered based on their influence on the Tezos ecosystem, innovation and novelty, UX, technical capabilities, and design. All participants must file their projects under the MIT open source license, and working prototypes must be built on the Florence testnet and list their addresses on the token contracts.

Developers who are new to the Tezos ecosystem are free to explore resources and tools to develop on Tezos through various platforms. Some names include Tacode, a peer-to-peer platform for Tezos education, and OpenTezos, the open-source wiki on Tezos topics. If a developer is eager to collaborate with the developer community of Tezos, they can join the telegram channel of Tezos developers. By joining the community, developers can find extra resources that would help them begin developing on Tezos stack exchange and dev portal.

Prize pool details: First Prize (1 team) – $15,000 in tez (XTZ), Second Prize (3 teams) – $10,000 in tez (XTZ), Third Prize (6 teams) – $5,000 in tez (XTZ). Members of the winning teams are added to the priority list for upcoming bounties. Later, they are invited to apply for a grant via the Tezos Foundation.

About Gitcoin

Gitcoin is a platform that pays developers who work on open-source software in JavaScript, Rust, HTML, Python, Ruby, Design, Solidity, CSS, and more. You can learn more about Gitcoin by clicking here: gitcoin.co.

About Tezos

Tezos is a smart solution for storing money and exchanging value in a world that is connected digitally. The energy-efficient blockchain with a proven track record is self-upgradable. The platform adopts future innovations seamlessly without any network disruption. To know more, you may visit tezos.com.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Stan Peterson 207 Articles
Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.
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