By Hans Doringo
“Celo’s DeFi for the People Hackathon is a perfect opportunity for Filipino talents to win prizes, get support and seed funding, and get mentorship from global experts.”
Thus stressed Farrah Rodriguez, Ecosystem Lead at Celo Philippines, as Celo, an open-sourced Proof-of-Stake (PoS) blockchain, sets to organize the upcoming DeFi for the People, a mobile Hackathon that aims to make crypto a platform for new solutions from Decentralized Finance (DeFi), NFTs, Smart Contracts and Developer Tooling.
The event, to be held on October 8 to November 5, 2021, will offer $2,525,000 worth of prizes, support and seed funding, giving Filipinos the opportunity to showcase their talent in the crypto world and build their projects on Celo.
“At Celo, we’d love to see more Filipino talent shine in the crypto space as the Philippines is one of the world’s fastest adopters of cryptocurrency.” said Rodriguez, referring to reports on the high adoption of cryptocurrency in the country. (Read more: Philippines has High Crypto Adoption, Mature Ecosystem, Says Messari Report)
“The hackathon has tracks for decentralized finance, gaming & NFT, and even environmental innovation and sustainability. There’s so much we can do together,” she concluded as she invites Filipinos to join the hackathon.
The hackathon, which is open initiative for all builders and entrepreneurs alike, requires joining participants to build or update software applications focusing on the following categories while interacting with the Celo platform: DeFI, NFT gaming, Web3 infrastructure, regenerative environment, and interoperability.
The participant producing the best project in the hackathon will be awarded with $30,000 of cUSD. Also, the top 3 winners from the DeFi and NFT gaming categories will receive $20,000, $10,000 and $5,000 of cUSD, respectively, while the top 3 winners from the other categories will receive $15,000, $7,000 and $3,000, respectively.
According the Celo, participants joining the DeFi track are asked to build decentralized finance applications, tools, and infrastructure; NFT gaming and creator track participants to build an application to mint, sell or manage non-fungible tokens; and infrastructure and Web3 track participants to build or update existing decentralize web applications.
In addition, green track participants are tasked to build or update a software development kit (SDK) to improve developer resources; and interoperability track participants to build or update cross-chain applications or cross-chain tooling.
Aside from the said prizes, Celo will also be giving away the following regional prices in the event: Latam with prizes amounting to $50K, Africa with $25K, Brazil with $25K, Apac with $100K and lastly, India with $50K.
As stated in the guidelines, participants who wish to join the competition must include a demonstration video of the entry, identify the functionality of their work, and categorize their projects based on the given tracks, accordingly. Submissions are open until October 29 at 9:00am EDT.
Entries in Celo’s hackathon will be judged according to technological implementation, design, potential impact and quality of the idea.
Celo, designed to support stablecoins and digital assets, is a blockchain that aims to build a financial system that creates the conditions for prosperity.
Earlier this year, Celo partnered with Grameen Foundation, a global non-profit organization, to provide capital support to Filipino micro entrepreneurs who are facing challenges because of the pandemic. (Read more: Celo, Grameen Foundation, Collaborate Anew For Blockchain-Enabled Support to 800 Filipino Workers)
Join the Hackathon here: https://mobiledefi.devpost.com/
This article is published on BitPinas: Celo To Conduct Mobile Hackathon; Filipinos Urged To Join