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The Open Network (TON) Partners With DWF Labs and Amazon Web Services to Host DeFi and Data Analytics Hackathon

The Open Network (TON), a breakthrough technology that aims to integrate all blockchains and the Web2 internet into a single open network, is conducting a decentralized finance (DeFi) and data analytics hackathon in collaboration with DWF Labs and Amazon Web Services (AWS) under the banner of Hack-a-TON.

Developers with an interest in DeFi and data analytics may create, code, learn, and network while realizing their ideas at the hackathon. Participants will have access to virtual seminars taught by knowledgeable mentors and experts, interact with a thriving community of Web3 builders, and present their ideas at the event’s conclusion. DWF Labs will invest in the winning proposal to help them realize their vision. The overall prize pool also includes awards worth another 150,000 USD worth of TON and AWS Credits for USD 115,000 in addition to the 150,000 USD worth of TON in prize money, which is the native cryptocurrency of TON. Transaction fees, staking to secure the TON blockchain, directing the network’s growth, and payment settlement are all done using TON.

All participants will have access to frequent online seminars during the hackathon, and mentors from AWS, DWF Labs, and TON will be available to help teams online and respond to queries in the hackathon chat while the build phase lasts from May 27 to July 27. The workshops are intended to help builders and provide them with the time, resources, and expertise they need to develop their concepts, carry out their projects, and connect with other participants. Unique NFTs will be given to participants who finish the hackathon successfully, and teams that advance to the final round will be eligible for unique 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.” said 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,” said 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 begin on May 27 at 12:00 (UTC+4). The build phase will go until July 27, 2023, at 23:00 (UTC+4), when all applications must be submitted. Registration will end on June 27, 2023, at 12:00 (UTC+4).

To give themselves more time to develop their ideas, participants are asked to submit their applications as early as feasible. Prior to participating, each team must go through the registration procedure and gain clearance. Teams may have three to five members, and they must utilize open-source code and make it available when the build phase is over.

Following the build phase, the Hack-a-TON x DWF Labs x AWS judges will assess each project from July 27 through August 10, 2023. On Friday, August 11, 2023, the list of 20 finalists will be revealed. Each project will get a score based on its potential to expand the TON ecosystem, technological prowess, “Wow” factor, and commercial viability. Finalists will then have one month, from August 11 to September 10, 2023, to be ready for their project display.

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

Finalists will compete for a variety of thrilling 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 get 5,000 USD in AWS Credits.

Exclusive NFTs will be given to every participant, and the finalists who come to the presentation will get a special merch set. After the hackathon is complete, winners will get their DWF Lab prized, and TON Grants will be given upon achievement of each milestone.

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

Exclusive NFTs and unique merchandising bundles will be distributed to all attendees during the offline presentation. Click here to complete the registration procedure for the event.

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