Solana promotes the ecosystem - Incubates projects participating in the Renaissance competition
Introducing the Solana Renaissance Hackathon
Solana, a Layer 1 blockchain that uses a combination of two consensus mechanisms: Proof of History and Proof of Stake, has just announced the organization of the Solana Renaissance Hackathon, taking place from March 4, 2024 to April 8, 2024.
Besides the main competitions and rewards, Solana Renaissance Hackathon also gives participants other unique privileges. Specifically, the winner will have the opportunity to be interviewed to participate in Colosseum's Accelerator program. When participating in this program, the project will receive the following privileges:
· Invest: 250,000 USD will be invested in the pre-seed round.
· Network: Build relationships with leading industry experts.
· Mentorship: Connect directly to the ecosystem with 1:1 guidance.
Competition stages of the Solana Renaissance Hackathon
Hackathon will be held within 1 month with 6 competitions taking place at the same time corresponding to each specific category as follows:
· DePIN: Organized to find the most incentive-based design, thereby building an efficient infrastructure network (represented by io.net).
· DeFi & Payments: Design and build new decentralized applications and protocols, aiming for an open financial system (represented by Orca).
· DAOs & Communities: Organized to create tools, test new governance structures, thereby expanding and growing the community (represented by Squads).
· Consumer Apps: Organized to build the next generation of mobile and web products in the cryptocurrency market. In particular, each winning team will receive a Solana Chapter 2 phone when this product is released (represented by Solana Mobile).
· Gaming: Organized to shape the blockchain-based gaming market, NFTs and platforms that allow users to directly interact with the P2P marketplace (represented by Phantom Wallet).
· Infrastructure: Organized to build tools and infrastructure to support applications in Solana's ecosystem (represented by Pyth Network).
Each competition stage will have 5 prizes corresponding to rankings from 1 - 5 and the prize value decreases:
· First prize: 30,000 USD
· Second prize: 20,000 USD
· Third prize: 15,000 USD
· Fourth prize: 10,000 USD
· Fifth prize: 5,000 USD
Coming to Solana Renaissance Hackathon, participants and projects have the privilege of learning and interacting as well as guidance from leading experts in the blockchain field. From there, Solana Renaissance Hackathon aims to create an event that acts as a bridge to bring the project to diverse Web3 business knowledge and experience from predecessors.
Besides the prizes of each competition stage, Solana Renaissance Hackathon also has other prizes and corresponding privileges for the teams with the most impressive products.
Grand Champion: 50,000 USDC with the privilege of presenting your projects and products to the Solana community at the upcoming Solana Breakpoint 2024.
· Public Goods Award: 10,000 USDC
· Climate Award: 5,000 USDC
· University Award: 10,000 USDC
The Fight to Renaissance
Also within the framework of the Solana Renaissance Hackathon, Superteam Vietnam will open a hackathon specifically for the Founders and Builders community in Vietnam, the theme will be The Fight to Renaissance with a separate prize structure including main prizes and prizes. extra.
Main prize structure:
· First prize: 3,000 USDC
· Second prize: 2,000 USDC
· Third prize: 1,000 USDC
· Fourth prize: 500 USDC
· Fifth prize: 250 USDC
In addition to the 5 main prizes, projects participating in the hackathon will receive additional prizes cumulative with the corresponding global prizes if they win the competitions:
· DePIN: 1,000 USDC
· DeFi / Payments: 1,000 USDC
· DAOs / Communities / Startup Societies: 1,000 USDC
· Crypto Infra: 1,000 USDC
· Web3 Gaming: 1,000 USDC
· Consumer: 1,000 USDC
In addition, the first, second, and third prize winning teams will receive 5,000 USD in AWS credits to use Amazon Web Service products. The registration and submission period will end at 01:00 PM on April 9, 2024 Vietnam time. Not only that, teams can submit early from April 3, 2024 to The Fight to Solana Renaissance Hackathon: Vietnam Track to receive early scoring priority from judges and mentors from Superteam Vietnam
Requirements for submission
About source code
Teams are required to store the source code on GitHub and submit a repo link with the .git extension. Participating teams must provide detailed instructions on how to compile, set up, and install the code and application in the documentation and Attach them in the GitHub repo.
About Pitch Deck
Submit additional relevant information via the following link: https://lu.ma/the-fight-to-solana-renaissance
Note when submitting articles on GitHub
Access rights: Competition teams must ensure access rights settings, allowing the organizers to clone and checkout the source code of the test. The organizers will reject the contest if the repository cannot be cloned. If it is a private repo, please contact Superteam Vietnam for an appropriate repo sharing method.
Do not change access permissions: Do not adjust or modify repository access permissions until the final results are published.
No modifications: Teams are not allowed to edit the repo after submitting the test, any intentional modification will result in the test being immediately disqualified.
At the same time, Solana's market capitalization reached 81 billion USD, officially surpassing the peak set in November 2021.
Along with the rapid growth of the cryptocurrency market, Solana is also a notable factor with many positive developments.
The number of active wallet addresses on the network has reached unprecedented levels, with more than 738,040 new wallets created every day, according to data provided by The Block.
At the same time, Solana's capitalization (SOL) has just set a new peak at 81.1 billion USD. The highest market cap that Solana ever reached in November 2021 was about 77.9 billion USD.
Solana's market capitalization has increased more than 24% in the past week. Source: CoinMarketCap
For many days, SOL has always appeared on the top gain table of the crypto market. Prices have increased more than 10% compared to 24 hours ago and accelerated nearly 60% during the month. At the time of reporting, SOL is being traded at a price of 178 USD per coin and is still a big difference from the "mark" of 259.96 that was set in the previous bull season. However, SOL is adjusting downward following the decline of the whole market.
So what is the reason why this blockchain is more active than before? Many people believe that the emergence of memecoin is a stepping stone to push Solana forward. The series of memecoins in the ecosystem have grown significantly over the past several days. The most prominent ones are dogwifhat - up 20%, Popcat - up 35% and Bonk - up 10%.
Furthermore, Bonk and dogwifhat – despite being based on Solana – became the first non-Ethereum memecoins to reach a billion-dollar capitalization, largely thanks to their accessible nature.
summary
Above is all the information about the Solana Renaissance Hackathon, including prize information, competition stages and special privileges for the winners. Through this article, we hope to give readers the most overview of the Solana Renaissance Hackathon and the advantages that this contest brings to the winners.
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