The Solana Foundation is launching the Solana Season Hackathon to reward the best Web3, DeFi or NFT projects.
The prize money is $1 million. The virtual competition will run for three weeks from 15 May and will be open to developers from all over the world.
In addition to the financial prize, the most interesting projects will be eligible for funding. Prizes will be awarded to the three best projects in the three separate categories Web3, DeFi and NFT.
The first prize winners will receive $20,000 in USDC-SPL, the second prize winners $10,000 and the third prize winners $5,000.
There will also be a separate prize pool dedicated to certain regions, divided as follows:
- Eastern Europe: $155,000 in prizes with contributions from Hacken, Gate.io, Serum, Velas, HAPI, and Akash Network.
- China, $125,000 in prizes contributed by the Solana Foundation, Serum, and Raydium.
- India, $50,000 prize pool, contributed by Solana Foundation, Devfolio, and CoinDCX
- Brazil, $25,000 prize pool, with contributions from BRZ Brazil, Foxbit, Bitpreço, NOX Bitcoin, and Alterbank.
Finally, there will be special prizes chosen and judged with the support of MultiCoin Capital, DSRV, Nonce, Raydium, and Serum.
Finally, there will be a $50,000 USDC-SPL “Grand Champion” award.
The Solana Hackathon jury
Projects will be judged on their technical aspects, putting aside legal aspects, as long as they are compatible with the Solana network.
The software created must only have the purpose of competing in the hackathon and not the purpose of commercial distribution. However, the Solana Foundation explains, after the hackathon projects may have the opportunity to compete for funding from venture capitalists, ecosystem funds and investors.
The jury will consist of: Balaji Srinivasan, Kevin Rose, Sam Bankman Fried, Robert Leshner, Anatoly Yakovenko, Meltem Demirors, Jason Choi, Tegan Kline, Kyle Samani, Santiago Santos, Ledger Status, Tarun Chitra, Imran Khan, James Prestwich, David Nage, Arthur Cheong, Crypto Messiah, and David Ratney.
Anatoly Yakovenko, president of the Solana Foundation, said:
“It is exciting to watch the blockchain ecosystem adapt as it continues to make significant progress. That is why we are hosting a third hackathon. We want to be a part of the development of projects spanning across nations as we believe they will be invaluable in unlocking the potential of blockchain. It is the foundation’s goal to provide the additional help these projects need to support and grow our community”.