The Open Network (TON) Unveils DeFi and Data Analytics Hackathon

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The Open Net­work (TON), a rev­o­lu­tion­ary tech­nol­o­gy to unite all blockchains and Web2 inter­net into one open net­work, in col­lab­o­ra­tion with DWF Labs and Ama­zon Web Ser­vices (AWS), is host­ing a decen­tral­ized finance (DeFi) and Data Ana­lyt­ics Hackathon, Hack-a-TON x DWF Labs x AWS.

The hackathon pro­vides devel­op­ers inter­est­ed in DeFi and data ana­lyt­ics with the oppor­tu­ni­ty to design, code, learn and net­work as they bring their ideas to life. Par­tic­i­pants will be able to engage with a vibrant com­mu­ni­ty of Web3 builders, obtain access to vir­tu­al work­shops led by expe­ri­enced men­tors and spe­cial­ists, and show­case their ideas at the event finale. The win­ning project will receive invest­ment from DWF Labs to trans­form their idea into real­i­ty. In addi­tion, there’s a total prize pool that includes prize mon­ey of 150,000 USD worth of Ton­coin (TON), the native cryp­tocur­ren­cy of TON, and an addi­tion­al 150,000 USD worth of TON in grants and AWS Cred­its worth USD 115,000. TON is used for trans­ac­tion fees, secur­ing the TON blockchain through stak­ing, decid­ing how the net­work devel­ops and set­tling payments.

Through­out the dura­tion of the hackathon, there will be reg­u­lar vir­tu­al work­shops for all par­tic­i­pants and online assis­tance from AWS, DWF Labs and TON men­tors who will be ready to answer ques­tions from teams in the hackathon chat while the build­ing phase runs from May 27 until July 27. The ses­sions are designed to aid builders and pro­vide them with the skills, knowl­edge, and time they need to build on their ideas, bring their projects to life, and net­work with oth­er par­tic­i­pants. Par­tic­i­pants who suc­cess­ful­ly com­plete the hackathon will receive exclu­sive NFTs, and teams who make it to the final round will be enti­tled to exclu­sive mer­chan­dise and stand to win from the prize pool. Andrei Grachev, the Man­ag­ing Part­ner at DWF Labs, commented,

“This event is a remark­able oppor­tu­ni­ty for devel­op­ers pas­sion­ate about DeFi and data ana­lyt­ics to unleash their cre­ativ­i­ty, learn, and net­work with like-mind­ed indi­vid­u­als. We believe in the pow­er of inno­va­tion and want to inspire builders to cre­ate excep­tion­al appli­ca­tions on the TON plat­form. In addi­tion to the sub­stan­tial mon­e­tary prizes, our aim is to encour­age par­tic­i­pants to con­tribute to the growth of the TON ecosys­tem by build­ing trans­for­ma­tive projects. We eager­ly await the ground­break­ing ideas and solu­tions that will emerge from this hackathon, and we’re excit­ed to sup­port the win­ners in bring­ing their visions to life.”

Justin Hyun, Head of Incu­ba­tion at TON Foun­da­tion added,

“We’re delight­ed to work in col­lab­o­ra­tion with DWF Labs and AWS, the world’s most com­pre­hen­sive and broad­ly adopt­ed cloud on a hackathon, that will show­case the very best of TON tal­ent in the emerg­ing fields of DeFi and data ana­lyt­ics. This event rep­re­sents a great oppor­tu­ni­ty to learn and build as projects in our ecosys­tem con­tin­ue to grow and flourish.”

Reg­is­tra­tion for Hack-a-TON DWF Labs x AWS kicks off on May 27, 2023 at 12:00 (UTC+4), togeth­er with the build phase. Reg­is­tra­tion will close on June 27, 2023, at 12:00 (UTC+4), with the build phase con­tin­u­ing until July 27, 2023, at 23:00 (UTC+4), when all appli­ca­tions must be submitted.

Par­tic­i­pants are encour­aged to apply as ear­ly as pos­si­ble in order to have more time to build their projects. Each team is required to go through the reg­is­tra­tion process and receive approval pri­or to par­tic­i­pa­tion. Teams can con­sist of between three and five peo­ple, and are required to use open-source code and make this acces­si­ble after the build phase concludes.

Once the build phase is com­plete, Hack-a-TON x DWF Labs x AWS judges will eval­u­ate each project from July 27 until August 10, 2023, with the list of 20 final­ists to be announced on Fri­day, August 11, 2023. Each project will be rat­ed for its poten­tial to achieve growth in the TON ecosys­tem, tech­ni­cal accom­plish­ment, ‘Wow’ fac­tor and busi­ness mer­it. Final­ists will then have one month to pre­pare for their project show­case, from August 11 to Sep­tem­ber 10, 2023.

Hack-a-TON x DWF Labs x AWS will con­clude with an offline show­case on Sep­tem­ber 11–12, 2023 at the AWS Head­quar­ters in Sin­ga­pore. For the final round, the judg­ing cri­te­ria will be slight­ly dif­fer­ent, with each project rat­ed based on its pitch, qual­i­ty of idea, ‘wow’ fac­tor, prob­lem solv­ing and busi­ness mer­it. The offline show­case will take place as a pre­cur­sor to TOKEN2049, Singapore’s pre­mier annu­al cryp­to event that brings togeth­er founders and exec­u­tives of the world’s top Web3 projects.

Final­ists will com­pete for a bevy of excit­ing prizes;

1st Prize: 

  • 70,000 USD worth of TON spon­sored by DWF Labs
  • 70,000 USD in TON grants
  • 10,000 USD worth of AWS Credits

2nd Prize: 

  • 50,000 USD worth of TON spon­sored by DWF Labs
  • 50,000 USD in TON grants
  • 10,000 USD worth of AWS Credits

3rd Prize: 

  • 30,000 USD worth of TON spon­sored by DWF Labs
  • 30,000 USD in TON grants
  • 10,000 USD worth of AWS Credits

17 final­ists will each receive 5,000 USD worth of AWS Credits.

All par­tic­i­pants will receive exclu­sive NFTs and the final­ists who attend our show­case will get a cool merch pack. Win­ners will receive DWF Lab’s prizes once the hackathon is over and TON Grants will be paid upon each mile­stone completion.

*TON price used will be the aver­age over the 2‑months span­ning the hackathon.

All par­tic­i­pants at the offline show­case will receive exclu­sive NFTs and cool mer­chan­dise packs. To reg­is­ter for the event, click here to com­plete the process.

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