Tezos India, in Collaboration with Plenty DeFi, Kicks Off Plenty Global Hackathon with a Reward Pool of US $30,000

Ø Co-organized by Plenty DeFi & Tezos India, the Hackathon themed around ‘sustainable DeFi’ challenges participants to ideate and build solutions/hacks layered on the Plenty DeFi ecosystem Ø Tezos India has received 1300+ applications for the Hackathon

New Delhi: Tezos India — a non-profit organization that enables people and entities to use the Tezos blockchain, has joined hands with Plenty — the leading DeFi protocol on Tezos blockchain, to roll out one of the largest, nearly 3-month-long global Tezos hackathons named ‘Plenty Global Hackathon’. The Hackathon will be conducted on the Devfolio platform, and it offers USD $30,000 (in Plenty) in prizes (reward pool) – which includes a ‘Community Choice Reward’ of $1000 for the most upvoted, shared and liked project/solution built as a part of the Hackathon; as well as a $24000 reward for ‘Defined Use Case’ and a $5,500 reward for ‘Open DeFi track’.

Furthermore, as a part of the Hackathon, the top 5 selected projects will get the opportunity to receive follow-on grants of up to USD $10,000 each, thereby allowing the best participants to take their projects to the next level, and additionally ‘Best 3 project ideas’ will further receive a $250 prize each. Lastly, all the participants of the Hackathon will receive branded merchandise and goodies from Tezos India and Plenty-defi for their zealous participation.

The Hackathon, co-curated by Tezos India and Plenty DeFi, challenges its participants to devise solutions around various Plenty use cases such as Plenty IDO Launchpad, Widgets, Developer SDK, Bots, NFTs, Farm Auctions, UI/UX enhancements for Plenty and Flat Yield Curve implementation — with the overarching objective to move towards a full scale decentralized financial ecosystem on Tezos. Hence, the theme for this year’s Plenty Global Hackathon is – ‘Sustainable DeFi’.

Over the last one month or so, Tezos India has received over 1300+ applications for participation in this Hackathon, including both teams (of up to 4 people) and individuals, encompassing crypto and blockchain enthusiasts across various categories and backgrounds — starting from students and novices to advanced coders, developers, working professionals, entrepreneurs, product folks, and others who are looking to kickstart their blockchain journeys through the Tezos ecosystem.

Speaking at the launch of the initiative, Om Malviya, Founder & President, Tezos India said, “DeFi on Tezos is growing exponentially, and to that end, projects like Plenty DeFi are leading the charge. With the Plenty Global Hackathon, we want to enable greater participation and innovation in the Tezos DeFi space, as well as encourage all developers to create new ideas and further advance the Tezos DeFi ecosystem. This Hackathon will also provide an excellent opportunity for participants to learn, grow, and excel in the blockchain domain. We at Tezos India are happy to have received an enthusiastic response in terms of applications for this unique Global Hackathon, and we look forward to an exciting few months ahead.”

“Our vision is to build and nurture a full-blown DeFi ecosystem on Tezos, and to introduce a wider range of use cases for decentralized finance by empowering traders, liquidity providers and developers to actively participate in an open decentralized financial marketplace. We want a large community of people to join this DeFi revolution, build innovative products, and over time take this ecosystem to the next level. By partnering with Tezos India for the Plenty Global Hackathon, we are looking forward to witnessing this revolutionary intent come into action, as the hackathon brings together brilliance from all around the world to ideate and build more solutions on top of the existing Plenty protocol and use the existing Plenty smart contracts and scripts to increase the sustainability of the Plenty protocol,” said Bernd Oostrum, Co-Founder, Plenty DeFi.

The Plenty Hackathon will also enable training and mentorships in a bid to foster future blockchain talent and provide them with the resources and the tools to take full advantage of Plenty and the Tezos ecosystem. It will connect participants with leading industry experts to tackle new challenges and unlock new features on Tezos.

The Hackathon is divided into two phases — the ideation phase and the implementation phase. During the ideation phase (December 23rd to January 11th 2022), participants can create a proposal for an idea according to the theme. The 3 best ideas submitted during the ideation phase will be rewarded by the organizers. Thereafter, the idea owners can collaborate with interested developers/designers, re-organize their teams and implement the same during the implementation phase, which will run till February 23rd 2022. The final results (winners) of the Hackathon will be announced by the jury on 28th February 2022.