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Image result for The prize hit $ 200,000 USD from the Defi hackathon

Solana announced the upcoming DeFi hackathon competition, with up to $ 200,000 in prize money from the Solana Foundation.

The Hackathon, scheduled to take place from February 15 to March 1, will be held in partnership with Sam Bankman-Fried, FTX Project Serum. Sam Bankman-Fried from FTX’s Project Serum stated:

“A lot of an ecosystem’s success depends on how much the community builds on it. I’ve been really happy with the growth of Solana so far building out the world’s fastest, most scalable on-chain ecosystem; I’m excited to see some projects come to market!”

Solana’s founder also emphasized the necessity of the Defi field to increase consumer reach:

“This could be as simple as: I get a Wrapped BTC savings account, but in the background, it’s earning a DeFi yield. And the end-user, a general consumer, isn’t really dealing with smart contracts or the complexity of [DeFi], but they actually get access to all of the entire pipeline.”

Judges for the event included Circle CEO Jeremy Allaire; Aave CEO, Stani Kulechov; CoinShares CSO, Meltem Demirors and CoinGecko Co-Founder Bobby Ong.

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