First-place winners will receive $13,000 for building decentralized exchange (DEX) or $10,000 for building Stablecoin backed by XDC
BERLIN, GERMANY / ACCESSWIRE / October 10, 2022 / The XDC Network, which combines the power of public and private blockchains with interoperable smart contracts, has announced it is offering an online global DeFi hackathon in cooperation with Devpost and Inac Consulting starting October 11 at 10:00 a.m. ET on Devpost, which powers most of the world’s software competitions on its platform. Register now at xdc.devpost.com
The purpose of the hackathon, which continues until December 19 at 5:00 p.m. ET, is to build your dream DeFi project on XDC Network.
“Today’s DEXes across all Blockchains suffer a host of problems like, slow unreliable txn execution, vulnerable to sandwich attack, poor or difficult to execute basic order types like stop loss or limit etc. We invite all Blockchain Developers to participate and use this great opportunity to make their DeFi dreams reality, build a DEX or/and Stablecoin on XDC. You can join solo, with Teams or even find your new Dream-Team during the Online Hackathon. Whether it is a completely new approach to DeFi or you want to build a great DEX with unique features. Here is the Place to build it on the XDC Network.”, according to Can Inac from Inac Consulting, and equivalent of $50,750 in prizes will be awarded, with the possibility of participants earning grants and more funding. The prizes will be awarded in three categories:
Dex(Decentralized Exchange): Build your dream Dex with great UI and safety. Including staking/farming options.DeFi – Stablecoin backed by XDC: Build a Stablecoin backed by XDC (DAI type stablecoin) and utilize the full potential of the XDC Network.Ported dApps: dApps that are ported for any of the above categories or disruptive / new dApps ported from other chains benefitting XDC network utility.
First-place winners – depending on the category – will receive $13,000, second-place finishers will receive $7,000 and 6 participants will receive $1,000 as honorable mentions. All prizes will be paid in XDC cryptocurrency.
The XDC Network is a Layer 1 EVM (Ethereum Virtual machine) compatible network, which means what runs on Ethereum will run on XDC Network. The enterprise-grade XDC Network is compatible with ISO 20022 financial messaging standards and can power a wide range of novel blockchain use cases. Equipped with both public and private states, the XDC Network was designed to meet the needs of enterprises with concerns about information transparency and data privacy. The delegated proof-of-stake mechanism (XDPoS) by which the network reaches consensus allows for two-second transaction time, near zero gas fees. Military-grade security through 2/3 node validation. User-friendly, customizable block explorer and network statistics pages offer unprecedented transparency where required.
For more information and to register for the hackathon, visit xdc.devpost.com.
For more information about the XDC Network, visit xinfin.org and xdc.org
About the XDC Network
The XDC Network, the world’s first hybrid blockchain, equipped with both a public state and private sub-networks, enables the protection of personal data while remaining transparent and auditable. The network was designed to meet the needs of enterprises seeking to enhance their business infrastructure, reduce costs and improve visibility through blockchain technology. With interoperable smart contracts, near zero fee transactions and high security, the XDC Network is designed to support a wide range of novel blockchain use cases.
Email: [email protected]
Contact Person Name: Can Inac
Company name: Xinfin
SOURCE: Xinfin
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https://www.accesswire.com/719610/XDC-to-Sponsor-Online-DeFi-Hackathon-Starting-October-11-with-Prizes-Awarded-in-Three-Categories