The Open Network (TON) Collaborates with DWF Labs and Amazon Web Services for DeFi and Data Analytics Hackathon

The Open Network (TON), an innovative technology designed to unify all blockchains and the Web2 internet into a cohesive open network, is organizing a decentralized finance (DeFi) and data analytics hackathon in partnership with DWF Labs and Amazon Web Services (AWS) under the title Hack-a-TON.

Developers interested in DeFi and data analytics will have the opportunity to create, code, learn, and connect while bringing their ideas to life at the hackathon. Participants will benefit from virtual seminars led by experienced mentors and experts, engage with a vibrant community of Web3 developers, and showcase their concepts at the event’s conclusion. DWF Labs will provide funding for the winning project to assist in realizing their vision. The total prize pool includes additional awards valued at 150,000 USD in TON and 115,000 USD in AWS Credits, alongside the 150,000 USD in TON, which is the native cryptocurrency of TON. TON is utilized for transaction fees, staking to secure the TON blockchain, guiding the network’s development, and facilitating payment settlements.

Throughout the hackathon, all participants will have access to regular online seminars, and mentors from AWS, DWF Labs, and TON will be available to assist teams online and address inquiries in the hackathon chat during the build phase, which runs from May 27 to July 27. The workshops are designed to support builders by providing them with the time, resources, and expertise necessary to develop their ideas, execute their projects, and network with other participants. Unique NFTs will be awarded to those who successfully complete the hackathon, and teams that reach the final round will be eligible for special prizes and a chance to win from the prize pool.

“This event is a remarkable opportunity for developers passionate about DeFi and data analytics to unleash their creativity, learn, and network with like-minded individuals,” stated Andrei Grachev, the Managing Partner at DWF Labs. “We believe in the power of innovation and want to inspire builders to create exceptional applications on the TON platform. In addition to the substantial monetary prizes, our aim is to encourage participants to contribute to the growth of the TON ecosystem by building transformative projects. We eagerly await the groundbreaking ideas and solutions that will emerge from this hackathon, and we’re excited to support the winners in bringing their visions to life.”

“We’re delighted to work in collaboration with DWF Labs and AWS, the world’s most comprehensive and broadly adopted cloud on a hackathon, that will showcase the very best of TON talent in the emerging fields of DeFi and data analytics,” remarked Justin Hyun, Head of Incubation at TON Foundation. “This event represents a great opportunity to learn and build as projects in our ecosystem continue to grow and flourish.”

The build phase and registration for Hack-a-TON DWF Labs x AWS will commence on May 27 at 12:00 (UTC+4). The build phase will continue until July 27, 2023, at 23:00 (UTC+4), when all submissions must be finalized. Registration will close on June 27, 2023, at 12:00 (UTC+4).

To allow more time for idea development, participants are encouraged to submit their applications as early as possible. Each team must complete the registration process and obtain approval before participating. Teams can consist of three to five members, and they are required to use open-source code and make it available upon the conclusion of the build phase.

After the build phase, the Hack-a-TON x DWF Labs x AWS judges will evaluate each project from July 27 through August 10, 2023. On Friday, August 11, 2023, the list of 20 finalists will be announced. Each project will be scored based on its potential to enhance the TON ecosystem, technological capabilities, “Wow” factor, and commercial viability. Finalists will then have one month, from August 11 to September 10, 2023, to prepare for their project presentations.

The offline showcase for Hack-a-TON x DWF Labs x AWS will occur at the AWS Headquarters in Singapore on September 11 and 12, 2023. The judging criteria will be slightly adjusted for the final round, with each proposal evaluated on its pitch, concept quality, “wow” factor, problem-solving capacity, and commercial value. The offline presentation will take place prior to TOKEN2049, Singapore’s leading annual cryptocurrency gathering of top Web3 project founders and executives.

Finalists will compete for a variety of exciting rewards;

First Prize:

• 70,000 USD worth of TON sponsored by DWF Labs
• 70,000 USD in TON grants
• 10,000 USD worth of AWS Credits

Second Prize:

• 50,000 USD worth of TON sponsored by DWF Labs
• 50,000 USD in TON grants
• 10,000 USD worth of AWS Credits

Third Prize:

• 30,000 USD worth of TON sponsored by DWF Labs
• 30,000 USD in TON grants
• 10,000 USD worth of AWS Credits

Each of the 17 finalists will receive 5,000 USD in AWS Credits.

Exclusive NFTs will be awarded to every participant, and the finalists attending the presentation will receive a special merchandise set. After the hackathon concludes, winners will receive their DWF Lab prizes, and TON Grants will be distributed upon the achievement of each milestone.

*The TON price will be the average price during the two months leading up to the hackathon.

Exclusive NFTs and unique merchandise bundles will be provided to all attendees during the offline presentation. Click here to complete the registration process for the event.