$1M hackathon for Harmony to merge traditional finance and DeFi
Harmony will have a hackathon including 4 challenges from 3 different categories starting from mid-August to the end of September.
This hackathon will start next month according to Harmony blockchain and you can register for this event. Participants will reap rewards of more than $1M in seed funding.
Harmony made this announcement on their official Twitter account on Thursday and said that the hackathon’s focus is to attract people who are engaged in traditional finance which is done to bridge their fields and decentralized finance. There would be 4 issues and challenges in each category of cross-chain and trustless bridges, social wallets, and keyless security, and cross-border with fintech integration.
“In blockchain, finance is where we are seeing product market fit, but most of DeFi was created by people who didn't come from traditional finance. We want to bring more TradFi in to contribute to DeFi. We know they have much to teach us and we can help them understand and harness the power of DeFi and teach them a lot as well.”
In this hackathon, certain judges or speakers are there such as Earn.com co-founder Lily Liu, SushiSwap core developer Omakase, DeFi Alliance lead Imran Khan and others. Besides that CoinGecko, SushiSwap, Messari, Unstoppable Domains, DappRadar, DoraHacks, The Defiant (news platform), and Hummingbot are the sponsors.
Harmony's mainnet started working in 2019 and it is comprised of a sharding protocol with a trustless Ethereum bridge that breaks the chain into parts that process transactions as well as storing data in parallel. After its launch, it started joining forces with some partners and has a number of integrations. For instance, Terra which is a stablecoin platform migrated its token to Harmony to enjoy the ecosystem of Harmony.
The hackathon aims at reaching 10 billion people and the teams in this event can be up to 5 people maximum. On August 15, the registration for this six-week event will be closed and the event is limited to teams of 5 people.
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