$100,000 up for grabs in MATIC hackathon

Polygon-Grants Hackathon has launched, boasting a top cash prize of $100k which will be offered to the developer who creates the most innovative dApp for the ecosystem.

The event is running on an open-source incentives platform called Hackerlink, and the competition will see the Polygon (MATIC) community vote on a favourite dApp using quadratic on-chain voting.

With the exciting opportunity to win $100k in cash, unlock free promotional access to Matic’s social media channels, and access to opportunities for community fundraising – the winning contestant is going to have to work hard to stand out.

Despite hosting more dApps than any other chain, Polygon’s co-founder – Sandeep Nailwal – highlighted that the event was still about drawing the top talent and minds in blockchain development to the Ethereum Layer 2 scaling ecosystem.

“We’re incredibly excited about the ideas that will emerge from the Polygon-Grants Hackathon,” he said.

“We already have the biggest brains in blockchain building innovative apps on Polygon, this hackathon will help us to further unlock the potential of developers around the world to help shape the next phase of Web 3.0.”

Developer-Friendly Platform

A big factor in the success that Polygon has seen in encouraging dApp development is that the ecosystem has been designed to make it easy for developers to get started manifesting projects on Matic through a suite of developer tools, a decent sized online community, and connections to venture capital funding.

In the announcement, the team presented a long list of ideas to inspire hackathon participants.

Ideas suggested by Polygon include non-fungible token (NFT) bridges to other blockchains to enable NFT minting (big demand following the gas fee surge on Ethereum), a lending protocol that immediately provides liquidity for assets transferred cross-chain, a decentralised version of Patreon to support creators and influencers, and a protocol to decentralise insurance risk without needing a third-party.

This is the latest in a series of recent moves by Polygon following its rapid expansion, including the first Layer 2 bridge and this week’s acquisition of the Hermez network.

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