{"id":111911,"date":"2021-02-09T07:43:55","date_gmt":"2021-02-09T07:43:55","guid":{"rendered":"https:\/\/precoinnews.com\/?p=111911"},"modified":"2021-02-09T07:43:55","modified_gmt":"2021-02-09T07:43:55","slug":"solana-announces-defi-hackathon-offering-200k-in-seed-funding","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/solana-announces-defi-hackathon-offering-200k-in-seed-funding\/","title":{"rendered":"Solana announces DeFi hackathon offering $200k in seed funding"},"content":{"rendered":"

Solana has announced an upcoming DeFi hackathon offering $200,000 in seed funding from the Solana Foundation.<\/p>\n

The hackathon, which is scheduled to take place from Feb. 15 through March 1st, will be hosted in partnership with Sam Bankman-Fried of FTX\u2019s Project Serum. <\/p>\n

Bankman-Fried will also offer mentorship to hackathon participants alongside Solana CEO Anatoly Takovenko. Bankman-Fried stated:<\/p>\n

\u201cA lot of an ecosystem’s success depends on how much the community builds on it. I’ve been really happy with the growth of Solana so far building out the world’s fastest, most scalable on-chain ecosystem; I’m excited to see some projects come to market!\u201d<\/p><\/blockquote>\n

Participants will also compete for a $200,000 prize pool, with the event\u2019s judges including crypto-notables Circle CEO Jeremy Allaire, Aave CEO Stani Kulechov, CoinShares CSO Meltem Demirors, and CoinGecko Co-Founder Bobby Ong.<\/p>\n

The announcement encourages developers to explore Solana\u2019s bi-directional Ethereum bridge \u201cWormhole\u201d, in addition to Solana\u2019s new Chainlink oracle integration.<\/p>\n

Speaking to Cointelegraph, Takovenko noted his excitement to see what recurring participants who took part in Solana\u2019s Q4 2020 hackathon will build in the upcoming event. Takovenko emphasized that Solana offers benefits to developers through its support for traditional compiler toolchains like Rust, making it \u201cmore accessible for folks outside of crypto.\u201d<\/p>\n

On the subject of DeFi adoption, Solana\u2019s founder emphasized the need for the sector to \u201cbreak out among general consumers:\u201d<\/p>\n

\u201cThis could be as simple as: I get a Wrapped BTC savings account, but in the background, it’s earning a DeFi yield. And the end-user, a general consumer, isn’t really dealing with smart contracts or the complexity of [DeFi], but they actually get access to all of the entire pipeline.\u201d<\/p><\/blockquote>\n

Takovenko predicts that such a \u201cBTC savings account\u201d could exist within the near future, stating: \u201cThat one use-case would require the entire stack to work […] I don\u2019t know if this is going to happen in 2021, but it feels like everything is ripe for that.\u201d\u00a0<\/p>\n

\u201cThe tools are much better, key management is much better, you can ship applications on iOS and Android with secure keys […] I\u2019m excited to see who actually pulls it off and scales [DeFi] to one million or ten million users.\u201d<\/p><\/blockquote>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Solana has announced an upcoming DeFi hackathon<\/p>\n","protected":false},"author":3,"featured_media":111910,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nSolana announces DeFi hackathon offering $200k in seed funding - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/solana-announces-defi-hackathon-offering-200k-in-seed-funding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana announces DeFi hackathon offering $200k in seed funding - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Solana has announced an upcoming DeFi hackathon\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/solana-announces-defi-hackathon-offering-200k-in-seed-funding\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-09T07:43:55+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/02\/ccryptafoto1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvNWRhNDRlZmEtOTM1Mi00ZTI3LWFlYTctMGIwNTgyYzFkZWNjLmpwZw.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/solana-announces-defi-hackathon-offering-200k-in-seed-funding\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/solana-announces-defi-hackathon-offering-200k-in-seed-funding\/\",\"name\":\"Solana announces DeFi hackathon offering $200k in seed funding - 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