Web3 Developers stand a chance to raise up to $1 Million dollars in investment from Xend Finance and partners plus an instant $1000 in Cash as Star Prize for the winners of the $RWA Hackathon.
$RWA stands for Real-Word Asset and the Hackathon by Xend Finance will reward an individual or Team who deliver the best Solution using Asset Chain (a layer-1 blockchain built by Xend Finance). Also,ten solutions will be shortlisted for a pitch presentation on October 3, 2024 during the #StartupSouth9 Conference in Port Harcourt, Nigeria.
About Asset Chain
The Asset Chain is the native blockchain for Xend Finance’s Real-World Asset OAE (Onchain Asset Environment) with its consensus based on Fantom’s Lachesis consensus – created to allow the seamless onboarding of all legally transactable asset types on-chain. It enables a fast, scalable, and secure smart contract transaction and platform.
Other Hackathon Prizes
Aside from the Star Prize, the first and second runners-up will get $750 and $500 respectively while the other seven contestants will each get $100.
In a statement, Ugochukwu Aronu, the Founder of Xend Finance said ‘the Hackathon will give innovators the opportunity to take Xend Finance latest cutting edge platform for a spin.’ This comes on the heels of the first Hackathon that produced Lazerpay.
Speaking on the collaboration, the Convener of #StartupSouth, Uche Aniche said “we are excited to be providing a platform to launch this innovative and groundbreaking solution built by Xend Finance. We look forward to celebrating and supporting the products that will emerge from the Hackathon”.
Developers can apply and start building immediately at bit.ly/RWA-HACKATHON.
Image Asset can be found here
About Xend Finance
Backed by Binance and Google Launchpad, Xend Finance is a global crypto bank offering up to 15% interest, with an open Web3 infrastructure for developers.
About #StartupSouth
StartupSouth Enterprise Development LTD/GTE is a Startup ecosystem development and advocacy organization inspiring founders building high scale ventures in Nigeria with specific focus on the South-South and South-East.
Key Hackathon Activities & Dates:
July 31 – Hackathon Announcement & Application Commencement
August 9 – Hackathon Ask-Me-Anything (AMA) Session
August 15 – Application Deadline
September 14 – Project Submission Deadline
September 22 – Shortlist Announcement
October 3 – Hackathon Demo Day
More About Asset Chain
The Asset Chain is the native blockchain for Xend Finance’s Real-World Asset OAE (Onchain Asset Environment) with its consensus based on Fantom’s Lachesis consensus – created to allow the seamless onboarding of all legally transactable asset types on-chain. It enables a fast, scalable, and secure smart contract platform.
Lachesis is a revolutionary aBFT consensus mechanism that allows Asset Chain to be faster and cheaper than previous technologies while retaining security. Asset Chain is Permissionless, Decentralized & Open Source
The Key features of Asset Chain include Speed, Scalability, Security and Cheap Fees. Asset Chain achieves transaction finality in 1–2 seconds on average and can process up-to 5000 transactions per second with capacity to scale to hundreds of thousands of nodes.
The Lachesis consensus provides institutional-grade security to the distributed network. By removing leaders, security does not rely on a small set of actors in charge of block production. Asset Chain offers absolute finality, which means that transactions can never be reverted like in networks with probabilistic finality.
Smart Contract Support
Asset Chain is fully compatible with the Ethereum Virtual Machine. Developers can create and deploy smart contracts as they would on Ethereum.
