- Gitcoin has integrated top PoS blockchain, Tezos.
- The two partners are launching a hackathon worth $75,000 on July 21.
- Notably, the prize will be in XTZ AND spread across 10 winning submissions.
Gitcoin is launching a $75,000 Tezos hackathon in the wake of its integration with the leading Proof of Stake (PoS) network. In addition, the integration will support infrastructure development, tools, and apps to enhance the Tezos ecosystem.
In detail, the hackathon, NFT Me, You can DAO It will start on July 21. The hackathon includes $75,000 in prizes across 10 winning submissions. The prizes will be in XTZ, the Tezos network’s native token. Also, prize details are as follows, the winning team will get $15,000. The first runner-ups will get $10,000. Finally, second runner-ups will get $5,000. Notably, all prizes will be in XTZ.
Gitcoin is a community creating financial freedom by developing public digital goods. The project aims to build an open-source internet that is collaborative and boosts economic empowerment. The Gitcoin community currently consists of over 300,000 active developers working on almost 2,000 projects.
Also, the community has also contributed almost $25 million towards open source projects. As such, Gitcoin is focused on proving tools and resourcing for the development of Web3. As such, the integration with Tezos will fuel innovation as Gitcoin builds on the pioneering PoS blockchain.
On the other hand, Tezos is the longest-running PoS blockchain and it celebrated its three-year anniversary in June. At the same time, the network surpassed 2 million DeFi and NFT driven contract calls.
In addition, 2021 has seen unprecedented crypto adoption. Tezos was no exception, the network experienced a 1,200% surge in use this year alone. The Tezos community consists of game developers, music labels, comic book creators, sports franchises, DeFi builders, and more. The blockchain has also launched several marketplaces and apps.
The Tezos ecosystem also includes DeFi, NFTs, and DAO. To sustain all this, the network had six upgrades. For this reason, Tezos is one of the most affordable, fast, and secure blockchains.
Finally, to participate in the NFT hackathon, users need to build new NFT experiences, innovate use cases, and create new features for Tezos. The DAO hackathon, however, requires that participants explore DAO frameworks to enable specific use cases.
Submissions will be judged based on their impact on the Tezos ecosystem. In addition, judges will consider novelty, technicalities, design, and innovation. Also, all projects must be filed under the MIT open source license. And, working prototypes must have listed addresses for their token contracts.