- Blockchain Harmony has opened registration for a hackathon.
- Hackathon aims to combine TradFi and DeFi.
- Sushiswaps’ main developer Omakase is one of the main judges.
Harmony, a fast and open blockchain for decentralized application, has opened registration for a hackathon, an event designed to use technology. The hackathon starts next month with over $1 million in seed funding and prizes for participants. Aims to combine traditional finance (TradFi) and decentralized finance (DeFi)
🚀 1/ We are happy to announce the Bridging #TradFi to #DeFi #hackathon where Harmony, along with prize partners, will be giving up to $1,000,000 in prize money and non-dilutive seed funding. Why are we doing this?https://t.co/qeq6U9M0LV— Harmony (@harmonyprotocol) July 15, 2021
Accordingly, Harmony stated the hackathon would be aimed at bringing in more people from traditional finance for challenges bridging their and decentralized finance (DeFi), in a Thursday announcement on Twitter. Harmony believes that most of the people who build DeFi have not come from a traditional finance (TradFi) background. However, the platform says that they are aiming to bring more traditional finance to deFi. This will differentiate itself from other tokens
Moreover, Harmony announces that there will be four challenges in each category of social wallets and keyless security, cross-chain and trustless bridges, and cross-border with fintech integration. Many DeFi tokens are good and have worked on many aspects, but this will going to be different and unique.
Harmony noted, “In a blockchain, finance is where we are seeing product-market fit. But most of DeFi, created by people who didn’t come from traditional finance. We want to bring more TradFi in to contribute DeFi”. Also added,
“We know they have much to teach us and we can help them understand and harness the power of DeFi and teach them a lot as well”.
Furthermore, the event registration will be close on 15th August and will be conducted over the next 6 weeks. The popular decentralized exchange (DEX), Sushiswap’s main developer Omakase will be present as one of the main judges of the hackathon. Hence more, along with Omakase, many other developers and sponsors present as part of the hackathon.
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