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 offers industry-leading performance and infinite horizontal scaling, has doubled funding for Sui Overflow, the first-ever global virtual hackathon focused on creating exciting products on Sui, in recent weeks, with enthusiastic supporters contributing funds.
Initially set at $500,000, after a groundswell of support from outside backers, Sui Overflow’s funding pool has ballooned to $1,000,000. The significant reward pool attracts builders from all over the world to build projects on the Sui network and demonstrate them to a jury. Categories eligible for prizes 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 gives both new and experienced developers a chance to show off their Move skills and experiment with powerful Sui primitives like zkLogin and Sponsored Transactions, Kiosk, DeepBook and Native Randomness. Some of Sui’s top projects have emerged from previous local hackathons, so I’m genuinely curious to see what the first global hackathon will deliver.”
Previous 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 in Sui’s Seoul Builder House in June 2023 with a small team of developers that took home 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 one of Sui’s ‘Hackathon Heroes’. A month after Scallop, the Navi team emerged and won gold in the DeFi and 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 the support of title sponsor dWallet Labs, the hackathon is sponsored by Elixir Capital, Alibaba Cloud, Comma3 Ventures, MoveBit, Scallop, GSR, Supra, Wormhole, AngelHack, Pyth, Ryze Labs and ZettaBlock. The prizes awarded in Sui’s hackathon for each category are as follows: $30,000 for first place, $15,000 for second place, and $7,500 prizes each for two additional runners-up. The hackathon will also present 10 $2,500 University Awards and 10 $2,500 Community Favorite Awards. Moreover, the participants are not limited to one category. Individual teams can participate in multiple tracks simultaneously, stacking prizes of more than $100,000. Additionally, a number of projects in the Sui ecosystem offer their own separate bounties, adding even more ways for great projects and great teams to benefit.
With the doubling of funding to $1 million, Sui Overflow participants are now eligible for accelerated Sui Foundation Grant Funding, along with other benefits including audits and credits to support the successful launch of their projects after the hackathon is completed.
“The homegrown projects that emerge from developer meetups and hackathons like Sui Overflow are an essential part of the lifeblood that will sustain the Sui ecosystem into the future,” said Greg Siourounis, Managing Director of the Sui Foundation. “Overflow’s impact has been significantly amplified by the overwhelming support of the Sui community, allowing us to expand the potential rewards beyond our planned pathways to benefit the most promising projects with sensible financing, audit credits and select accelerated grants.”
“Sui Overflow is more than an event; it is 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 sign up, developers can register the Sui Overflow portal and find all further 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
Contact
Sui Foundation
media@sui.io