Polygon Announces Polygon Grants Hackathon: $100K in Prizes, VC funding and more!

Polygon Labs

August 30, 2021

Polygon is announcing an online Hackathon with registrations starting today with a cumulative prize pool of $100K. This Hackathon is supported by Dorahacks, one of the leading Hackathon organisers!

The Hackathon aims to encourage early-stage ideas across the world, to kick-start their projects with the support from the best in the industry players like Chainlink labs, HashKey Capital, Furucombo, Protocol Labs, Covalent, ParaSwap, Chainstack, Balancer Labs, Unmarshal, Pocket Network, Stardust, Deri Protocol, QiDao, Biconomy, TOPS LABS LTD, who are also sponsoring the Hackathon.

The Hackathon becomes all more exciting with the Developers Happy Hours, where the Developers can brainstorm with other developers. The workshops are organised by seasoned players like Alchemy, Tenderly, Figment , GetBlock, ND LABS, ArGoApp and Sponsors.

Polygon works with a majority of today’s blockchain-based DeFi, web 3.0 games and NFT platforms. Polygon POS Chain has more than 500+ Dapps, more than any other chain outside of Ethereum. Additionally, blue-chip Dapps such as Sushiswap and Aave provide the most requisite interoperability in the DeFi space. By and large, this boosts the mass adoption, scaling and composability of the Dapps.

Polygon has been a developer focussed full-stack scaling platform since its inception. The composability provided for the development of DeFi, NFT, Gaming and Exchange platforms is relatively one of the highest in the industry. The integration stats speak for themselves regarding the kind of composability on the platform. The Polygon Hackathon is all set to boost this growing ecosystem.

Polygon has offered a cumulative prize pool of $100K with the following breakdowns:

50K Judge Pool. This is the prize pool for the best projects as decided by the esteemed industry veteran panel of judges.

50K Quadratic Funding Pool:

Quadratic Funding is an optimal way to fund public goods in a community. It amplifies the donations made by a large community over the contributions made by a small group with big pockets.In simple terms, the amount received by the project is the amount donated. An additional amount is matched by the grant pool which is calculated using quadratic funding formula. Voting will happen on Polygon network and MATIC will be used as the native currency to support the projects which will be matched from a grant pool of $50k.

VC Funding:

The potential VC funding in the pipeline from the established VCs like Fundamental Labs, Jsquare, DFG, Spark Digital Capital, gate labs, SevenX Ventures, Mentha Partners makes the whole proposition more desirable for the Web3 community. The ability of the Web3 startups to explore the projects in the ecosystem and network is promising. The global community’s attention to the Hackathon and by-large on the projects in the Hackathon provides a chance to hit the right chords with the global audience.

Ideas to #BUIDL

There are a few ideas for reference, but this Hackathon is accepting cool ideas and projects of ALL sorts built on Polygon!

Yield farm analytics dashboard — A web dashboard that shows for each yield farm, TVL/staked token or lp in each farm. Emissions of reward token per day/week.(no of the token as well as real-time price) APR per day, week, year. Token/lp amount staked by the user(real-time price as well) Estimated reward token earnings per Day, Week, Year. LP tokens composition.
Polygon ↔ Flow Bridge — A bridge to transfer funds from Flow Blockchain to Polygon and vice versa.
Gnosis Safe Integration — Develop multi-sig apps integrations for Gnosissafe on Polygon.
Degenscore on Polygon — A dapp to measure how many rugpulls, hacks and aping a wallet endured.
NFT Bridges — NFT Bridges / Minters to other blockchains to mint & move NFT’s cross-chain.
Adding functionalities on Polygon NFT Minter — Adding functionality on top of Polygon NFT minter(https://mintnft.today) which allows any artist or creator to include royalties on secondary sales.
Game Development Tools/ Engine Plugins — Tools/ Gaming Engine Plugins to ease gaming integration with Polygon.
Connext analytics dashboard — Per day influx of various tokens from different chain pairs. Per day withdrawal of various tokens from different chain pairs Per day difference(influx/withdrawal) in the volume of tokens for different chain pairs.
Tokenized Debt Agreements — Build a dapp to bring existing rights and assets on the Polygon blockchain.
Rebasing/synthetics based on UMA — Build a Dapp using UMA’s KPI Options and Optimistic Oracle on Polygon.
Meta Transactions — Implement Meta Transaction on your dapp using Biconomy on the Polygon Network.
Dune Analytics — Build useful DeFi dashboards using Dune Analytics showcasing interesting figures and comparisons.
Cross-chain lending Protocol — A lending protocol that immediately provides liquidity for assets transferred cross-chain from Polygon and vice versa.
Educational Dapps — A dapp which rewards users for completing beginner tutorials on DeFi,NFT and other applications deployed on Polygon.
Quadratic Funding — A quadratic funding dapp that decentralizes the grants program of Polygon using Smart contracts.
Decentralized Insurance — Build a decentralized insurance protocol to decentralize the insurance risk together without needing a third party company.
Prediction Market — A prediction market to trade the outcome of a real-world event on Polygon.
DeFi Asset Manager — A one-stop platform to diversify and invest funds across all the aggregators and pools cross-chain.
Decentralized Creator Support Platform — A decentralized version of Patreon to support your favourite creators and influencers on Polygon.

Apply Now!

Log in to hackerlink.io and click on Grant — Polygon Grant to apply (new users please register first).
Join the Polygon Grant telegram group chat to get the latest information about the event. Developers without projects can also team up in a group and turn ideas into projects together! Link: https://discord.gg/polygon
To prevent fake projects from participating in the prize pool, please contact the hacker link (Telegram: @hackerlinkofficial) to verify your project.
At the end of the Grant Round, before announcing the results, a 72-hour Grace Period will be held to prevent a Sybil attack. During the Grace Period, each project will be required to contact HackerLink to confirm the authenticity of the project, and after the Grace Period, the project will be able to take out the community donations and the prize pool to match the prize.

Risk Notifications

Please note that the smart contracts generated from the Website will arrange and transfer the donated fund, conduct a quadratic funding algorithm, and distribute contribution funds to the projects of which the voting results in favour. Please understand that the website cannot guarantee the authenticity, legality and validity of the project information, though admins will contact the projects to verify the validity with their best effort. Please be aware of the risks of donation and voting and make rational decisions. Polygon, HackerLink, or DoraHacks aren’t held responsible for any adverse consequences if any.

Application Guide: https://hidorahacks.medium.com/polygon-grants-hackathon-application-guide-1d5c07817d9d

Timelines:

Hacker Registration & Project Submission: August 30th — Oct 22, 2021

Voting period : October 1 — October 22

Judge Voting: October 23rd — October 29th

About DoraHacks

DoraHacks is a global Hackathon organizer and one of the world’s most active developer communities. HackerLink (https://hackerlink.io/en) is DoraHacks’ open-source developer platform and open source curation market. HackerLink provides unique on-chain tools to incentivize open-source developments around the world. The platform is offering features including hacker profile, BUIDL, quadratic funding grants, bonding curve, bounties, Hackathons to more than 100,000 users around the world.

About Polygon

Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.

If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.