Dorahacks has just successfully hosted the Polygon Grants Hackathon. The 2-month hackathon saw 137 Polygon native projects compete to win $100k in prizes. The prizes were split between the Judge Pool and the Quadratic Funding Pool. Additional funding came via community quadratic voting and resulted in 62,210 $MATIC (~$110K+) donated by the community itself.
The Hackathon was launched to encourage early-stage ventures around the world. The prizes were intended to kick-start projects with support from leading industry players such as Chainlink labs, HashKey Capital, Furucombo, Protocol Labs, Covalent, ParaSwap, Chainstack, Balancer Labs, Unmarshal, Pocket Network, Stardust, Deri Protocol, QiDao, Biconomy, and TOPS LABS LTD. Multiple technical workshops were hosted by key figures such as Ivan On Tech, Austin Griffith, Chainlink, and many more! The workshops helped developers who are building projects on Polygon grow more accustomed to various Web3 tools and technologies.
The hackathon witnessed a number of projects join the hackathon within its first few weeks. The hackathon’s popularity serves as testimony to Polygon’s narrative as a full-stack scaling solution for Ethereum. The hackathon was followed by the community quadratic voting period, where the community cumulatively funded and voted with 62,210 $MATIC. This sum of funding was matched with the Quadratic Funding Pool sponsored by Polygon. The voting consisted of a unique quadratic funding mechanism that signaled support for all projects that had participated in the hackathon. By being involved with the quadratic funding/voting process, the community helped support and contribute to the overall growth of the Polygon ecosystem.
Read More: 7 Reasons to Start Building on Polygon Right Now
Top Projects that participated in the hackathon were given a stage to showcase their demo to the community. This allowed them to put their best foot forward and pique the interest of community members during the quadratic funding voting period.
The Top 3 projects that accumulated the maximum amount of community funding include:
- Energy8: A Polygon integrated solution for game server owners that allows players to earn crypto by playing their favorite computer games like Minecraft.
- Zeromatic: A protocol for a private payment system called Zpayments which is powered by Polygon. With Zpayments, users can send their funds confidentially (transferred amounts are private) and anonymously (identities of transactors are private) without any trusted setups.
- Symphony finance: A protocol that allows users to create limit orders by depositing the SELL asset with multi[ple profit-maximizing trading strategies.
Apart from community funding, the hackathon also extended Prize Pool for truly outstanding projects. The Prize Pool consisted of $50K, and was distributed among the winners like Banksea Finance, PolyHeist, Artislife Network, Batchy, Ethlas Metaverse, Polytrees, and Sunflower Farmers.
The entire list of competing projects can be found here.
We applaud everyone who participated in the Polygon Grants hackathon and congratulate them for putting in their best efforts throughout the event. We are all now one step closer to realizing a better decentralized web.
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