Grand Cayman, Cayman Islands, April 22, 2024, Chainwire
Alibaba Cloud, AngelHack and dWallet are among the latest supporters of the global event.
Suithe layer 1 blockchain that delivers industry-leading performance and infinite horizontal scaling, received funding for Sui Overflow, the first-ever global virtual hackathon focused on building exciting products on Sui, doubled in recent weeks with enthusiastic supporters contributing to the funds.
Initially set at $500,000, after a wave of support from external backers, Sui Overflow's funding pool ballooned to $1,000,000. The large pool of rewards incentivizes builders around the world to build projects on the Sui network and present them to a panel of judges. Categories eligible for the awards include Consumer & Mobile, Infrastructure & Tooling, Gaming and DeFi. Developers will also be encouraged to leverage specific technologies from the Sui ecosystem such as zkLogin, advanced move features, randomness, and multi-chain capabilities.
Sam Blackshear, co-founder/CTO of Mysten Labs and creator of the Move smart contract language, said: “Sui Overflow offers new and experienced developers a chance to show off their Move skills and experiment with powerful Sui primitives like zkLogin, sponsored transactions. , kiosk, DeepBook and native randomness. Some of Sui's best projects have come from previous local hackathons, so I'm really excited to see what the first global hackathon produces.
Sui-sponsored hackathons have been fertile ground for projects that started as hackathon entries but then grew into sustainable businesses on the network. Scallop started at Sui's Seoul Builder House in June 2023 with a small team of developers who won first prize at the event. Today, Scallop has $117 million in TVL and is one of the leading DeFi protocols on Sui. Navi Protocol is another of Sui’s “hackathon heroes.” A month after Scallop, Team Navi emerged, winning gold in the DeFi & Payments category at the Sui X KuCoin hackathon. Navi now has over $130 million in TVL and is another leading DeFi protocol on Sui.
In addition to support from title sponsor dWallet Labs, the hackathon will be sponsored by Elixir Capital, Alibaba Cloud, Comma3 Ventures, MoveBit, Scallop, GSR, Supra, Wormhole, AngelHack, Pyth, Ryze Labs and ZettaBlock. Prizes awarded at the Sui Hackathon for each category are: $30,000 for first place, $15,000 for second, and $7,500 each for two additional finalists. 10 University Prizes of $2,500 and 10 Community Favorite Prizes of $2,500 will also be awarded during the hackathon. Additionally, applicants are not limited to a single category. Individual teams can compete in multiple tracks simultaneously, accumulating rewards exceeding $100,000. Additionally, a number of projects in the Sui ecosystem offer their own distinct bounties, adding even more ways for large projects and teams to benefit.
With funding doubling to $1 million, Sui Overflow participants will now be eligible for a fast-track grant from the Sui Foundation as well as other benefits including audits and credits to support the successful launch of their projects once the hackathon is over.
“Local projects emerging from developer meetups and hackathons like Sui Overflow are a vital part of the lifeblood that will support the Sui ecosystem into the future,” said Greg Siourounis, Managing Director of the Sui Foundation. “Overflow's impact has been significantly enhanced by the overwhelming support of the Sui community, allowing us to expand potential rewards beyond our planned tracks to benefit the most promising projects with prudent funding, audit credits and selected accelerated grants.
“Sui Overflow is more than an event; it’s the starting point for our brightest future blockchain innovators,” said Omer Sadika, co-founder of dWallet Network. “We are excited and honored to work with all the partners involved and look forward to the results that will emerge from this hackathon. »
Users can apply, developers can register on the Sui Overflow portal and find all the additional information. For regular updates, everyone is encouraged to join the Overflow Discord Server.
Registration Period: April 21 – May 31
Virtual Demo Day: June 15;
Announcement of winners: End of June 2024
Sui Foundation
(email protected)