EMURGO announced the largest ever Cardano blockchain hackathon, Cardano EMURGO BUILD 2023, with up to $2 million in total prizes and investments. The hackathon will have three tracks that developers can choose from and build their submissions upon:
- Derivatives for DeFi
- Aggregators for NFTs, DeFi
- Zero-knowledge rollups
Along with partner DoraHacks, EMURGO recently held Q&A sessions about the Cardano hackathon with the community.
For those who missed the Q&A sessions and want to read the Cardano hackathon FAQs, we have included them below.
Frequently asked questions
- When do submissions start? When do they end?
Submissions will be accepted starting May 29, 2023, and until July 3rd, 2023.
Also, those who want to pre-register can go to the Hackathon home page here and click “Register as Hacker” in the upper right.
Your email address will be recorded and then you will be able to post anything on the Hackathon idea board here.
- Where do I submit my build?
The projects can be submitted on the DoraHacks portal here.
- If our work consists of more than one “product” that can be used separately, but are also interoperable, can this be submitted as one project, or should it be multiple projects?
If the product is submitted by one developer group, it should be considered a single submission.
- Can one team propose a submission in more than one track? Or just one per team?
If the team believes they can maintain the same quality in two or more submissions, there are no restrictions.
- Can we share and submit a private GitHub with the judges?
Yes, you can share a private GitHub repository with the judges. You will just need to grant them the necessary access permissions. This way, they can review your code while maintaining its confidentiality.
- What happens to the intellectual project rights of the submissions?
Anything developed during the hackathon remains under the ownership of the developers. The hackathon is only to distribute grants and support the community.
- Is a dApp on a preproduction test network good enough to submit?
Yes, it fits the Hackathon. dApps on a preproduction test network are indeed acceptable. It’s a common practice to initially develop and test dApps in such environments before they’re deployed onto a mainnet. This allows developers to detect and fix any issues without risking real assets.
- When is the deadline for build submissions?
Submissions open on May 29 and will close on July 3. You can register and submit your BUILD during these dates.
- What is the process to register a proposal?
Please visit here for information.
- What are the three developer tracks?
Derivatives: Creating financial products that go beyond DeFi, but incorporate Cardano’s decentralized blockchain. There are many types of derivatives in the financial world that have not been brought to blockchain.
Aggregators: Solutions that act like data hubs to collect different data points regarding Cardano dApps for traders, analysts, etc. to make more informed decisions. Can gather information about Cardano DeFi projects or Cardano NFTs.
ZK-rollups: Building solutions using zero-knowledge technology such as privacy solutions, bridges, and/or a ZK layer for the Cardano blockchain.
- What types of workshops will there be during the hackathon?
There will be more AMAs during the course of the hackathon.
One is being planned for the official Cardano EMURGO BUILD 2023 Hackathon Discord server.
Second, there will be technical workshops between EMURGO and developers building tools on Cardano.
Most real-time information can be gathered in the Discord channel so please join to receive the latest updates regarding events and other details.
For those who missed the workshop live stream, you can check the recordings here.
- Are there any requirements for the code developed for the hackathon?
The code can be private for submission, such as a private GitHub repository. There is no requirement to make it public.
- Are there any restrictions post-hackathon regarding the code developed during the hackathon?
No, neither EMURGO nor DoraHacks will claim any ownership of the code created by the teams.
- What happens if the participants use a third-party tool for their project?
Third-party APIs or developer tools created for Cardano are fine to use. The one restriction is participants cannot copy the code from other projects.
- Are there any legal restrictions?
In most cases, there are no restrictions on the prize pool. In some cases, participants may come from countries where cryptocurrencies are banned or blocked. In those cases, these participants will not be able to claim their prize money.
Every team is responsible for checking their own local laws and regulations regarding crypto transactions.
- Is it possible to receive feedback during the duration of the hackathon?
In the Discord server, hackathon teams can ask the organizers about the ideation of the project, the proper category for submission, and other general questions. Both EMURGO and DoraHacks officials will monitor the Discord channels and answer queries in real time.
- Does an MVP count?
It’s possible to present a pitch deck or demo of the project but to increase the chances of winning, presenting code is better. There are four criteria that will be used to judge every entry:
- Innovation and necessity to the Cardano ecosystem(20%)
- Maturity of the tech and product (40%)
- Go-to-market strategy, user acquisition strategy, and community growth strategy (20%)
- Team and relevant experience (20%)
Every project will be scored on all of these four criteria.
- Can a participant be in two different builds presenting on different tracks?
Yes, this is possible. It’s ultimately up to the participating teams and developers to decide.
- Do we build a pitch deck and demo? Video? Website?
The minimum requirement is a pitch deck. Any additional information is a bonus, so if teams have time to create a demo of the product, a static webpage that shows how it would look, or any other details, it will help their chances of winning.
- Is it necessary for the Hackathon code to be entirely new? I’ve been involved in a project for a while that hasn’t been launched, but we’ve made some progress.
No, it’s not necessary for the code to be 100% new. However, it is essential that you are the rightful owner of the code. EMURGO will inspect the code and carry out the necessary verifications.
- Could you give more specific information on what constitutes an aggregator?
Galxe and Nansen are good examples of an aggregator. Please check their sites at https://galxe.com and https://www.nansen.ai
Prizes & Funding FAQs
- How is the prize pool divided?
There will be $100,000 USD in the prize pool. It’s divided as follows:
- First Prize: $20,000
- Second Prize: $10,000
- Third Prize: $3,000
Each of the three tracks will have the same amount distributed to the winners as mentioned above.
Additionally, EMURGO could invest up to $1.9 million USD in these successful projects. The additional investment is not part of the prize for winning the hackathon and is subject to extra due diligence by the EMURGO Ventures team.
- What are the terms and conditions for the prize money?
There will be more details on the terms and conditions once submissions are open. For the prize money, there will be a few conditions. For investments, these will require more formal processes and projects will be expected to sign formal legal documents that can include a SAFE, SAFT, or a SAFE + Token Warrant agreed upon by both parties.
- How do I best guarantee funding for my idea? Any criteria?
The criteria are stated above. Additionally, solving problems in the Cardano ecosystem is important as this is a Cardano hackathon, as is the potential impact the project could create. Another important detail is how well the team uses existing Cardano ecosystem tools.
- Do we need to provide a separate pitch/meeting if we want additional investment/grant money from EMURGO and/or EMURGO Ventures? Or is winning the hackathon a foot in the door?
Winning the Hackathon is the first step.
- Will the Hackathon prizes be paid out in ADA or stablecoins?
The prizes will be awarded in ADA. However, it is up for future discussion.
Join the official Discord to attend future Q&A sessions
Want to stay up-to-date, and ask questions about the Cardano EMURGO BUILD Hackathon?
Then, join the official Discord channel listed below.
There will be more Q&As and planned workshops in the future that will be announced on the Discord channel.
Other timeline and event information can be found on the official Cardano EMURGO BUILD 2023 Hackathon website.
- Official Homepage: emurgo.io
- Twitter (Global): @EMURGO_io
- YouTube: EMURGO channel
- Official Cardano EMURGO BUILD 2023 Hackathon Discord: @EmurgoHackathon2023
- Facebook: @EMURGO.io
- Instagram: @EMURGO_io
- LinkedIn: @EMURGO_io