Serum Announces Cross-Chain DeFi Hackathon in Collaboration with Wormhole

The leading DEX on Solana will conduct the Convergence hackathon with a focus on cross-chain interoperability.

Up to $5 Million in Prizes & Funding for Web 3.0 Projects

Serum has announced the launch of a cross-chain DeFI online hackathon, on Dec. 20, in partnership with Wormhole, the bridging solution.

The hackathon will focus on cross-chain interoperability and aims to attract developers building in the Solana ecosystem using Serum’s DEX and liquidity infrastructure, Wormhole’s cross-chain bridge functionality, and technology from other sponsors of the hackathon. Projects participating in this hackathon will be competing for eight different prize tracks that will have up to $5 million worth of prizes and funding for the winners. Developers can submit their projects between Jan. 5 to Jan. 31, 2022.

“The Convergence Hackathon is an incredible opportunity for developers building on the Serum, Wormhole, PsyOptions, Terra, Atrix (and more!) to submit what they’re building and to be considered for a variety of prizes!,” mentioned the official Medium blog elaborating on this hackathon. 

Source: Project Serum Medium

The project submissions in this hackathon will be judged by several eminent personalities of the DeFi and CeFi community like:

Sam Bankman Fried from FTX

Raj Gokal from Solana Labs

Kyle Samani from Multicoin Capital

Matthew Graham from Sino Global

Dan Matuszewski from CMS Holdings

Paul Veradittakit from Pantera Caital

Chris MacCann from Race Capital

And several others…

The eight tracks for this hackathon and the associated prizes are:

Main Prize – $225,000 split between the first 5 places

Community Prize Award – $30,000

Serum Award – 1st prize is $50,00 and runner up prize is $30,000

Wormhole Award – 1st prize is $50,00 and runner up prize is $30,000

PsyOptions Award – 1st prize is $50,00 and runner up prize is $30,000

Pyth Network Award – $30,000

Atrix Award – $30,000

Terra Award – $30,000

What is Project Serum?

Serum is a leading DEX built on the Solana blockchain network and is completely permissionless. The DEX uses an on-chain central limit order book (CLOB) and matching engine to provide liquidity and price-time priority matching to investors and projects in the ecosystem. As previously reported by Solana.News, the DEX integrated with Vybe Network to add its analytics dashboard to the portal.

Source: Solana News

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