Evmos Hackathon FAQ
What is a Hackathon?
A hackathon is an event that invites developers and programmers to contribute their work over a short period of time, often collaborating on a project together. Hackathons usually take the shape of a competition to incentivize participants to produce their best work. Evmos Momentum Hackathon together with the Evmos Community, Web3 Scholarship and strong team of judges and mentors provide the best environment to support developers deploy and bootstrap their ideas. The hackathon will lasts for seven weeks and all qualifications must be received before Wednesday August 31, 2022 at 5 PM Eastern Time.
What is the goal of Evmos Momentum Hackathon?
Evmos Momentum Hackathon is proposed and lead by Web3 Scholarship with the objective to strength the Evmos ecosystem by incentiving existing native projects to drive adoption and new comers to deploy and scale to get momentum for Evmos ecosystem.
How does the combination of Web3Scholarship and Evmos come into place to jointly host the hackathon?
Web3Scholarship program is a Web3 funding & incuabtion vehicle for early stage blockchain projects, which was seeded by Huobi Incubator in Jan 2022 and consisting of 15+ members from across the crypto space. Web3Scholarhip program is chain agnostic, dedicated in supporting the multi-chain landscape and has supported ecosystem level collaboration including Avalanche, Dfinity, Octupus, Celo etc., Evmos Included. The Evmos Momentum hackathon on-chain proposal was submitted by Web3Scholarship and was passed by the Evmos Community and thus it is currently co-hosted by Web3 Scholarship and everyone within the Evmos Community. For the full proposal: https://www.mintscan.io/evmos/proposals/27
Who can participate in the Hackathon?
Anyone with an interest and an internet connection can take part as long as they live in a jurisdiction that legally allows them to. Individuals who are residents of a country, state, or territory in which the laws of the United States or local laws prohibit them from receiving a prize in a hackathon must unfortunately abstain.
Why would I participate in Evmos Momentum Hackathon?
It is never too early to enter a promising ecosystem. In the first Evmos hackathon, you will have the chance to improve your skills, gain access to some of the very best mentors and developers, learn more about Evmos unique proposition and features, be a part of this burgeoning community with the access of giantic user base in both Ethereum and Cosmos ecosystems, getting noticed and supported by Evmos system early on and help build the decentralized web. You may also compete for your share of $250,000 in EVMOS distributed over the different challenges.
Will there be any support for Developers?
Yes. There will be three sources of support:
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There will be three biweekly workshops prepared by Evmos team and Cosmos experienced hackers for how to build and deploy on Evmos, recordings can be viewed on Youtube as well.
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There will also be AMAs on Twitter Space to share existing developer knowledge and experiences, investor perspective by Evmos community members and Web3Scholarship mentors to answer all your questions live.
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Join the Telegram Q&A group and Evmos Discord to find your teammates and ask questions to our mentors.
Do I need to pay to participate?
Joining the Evmos Momentum Hackathon is completely free of charge.
Where can I find the descriptions of all the categories?
Full descriptions of all the categories can be found on the Evmos Momentum Hackathon website.
How long will the event last?
The Evmos Momentum Hackathon will last for Seven weeks online. Online registrations open on Monday July 18, at 10am Eastern Time and lasts until August 31 5pm Eastern Time when the submissions are due. The Winners are announced on September 20.
How many challenges can I submit a project to?
You can submit the same project to only one category. One project will only be receiving one award. For example, The track prize and grant prize cannot be awarded to a project at the same time.
Is there a maximum number of people per team?
Team sizes can be between 1-10 people. However, if you are forming a team, we advise small groups of 4-6 in order to avoid complexities.
Where can I find support for technical questions?
We are here to support you. We have created a sub channel on Discord and Hackathon Telegram group with volunteers and mentors to answer all your questions. In addition to this, we are planning several AMA sessions through out the hackathon, where you can drop in to listen to questions as well as discuss issues you might be facing.
Can I submit a project I have already started or submitted to another competition?
Yes, but only for projects that are newly built on the Evmos ecosystem.
Can I submit a project that goes beyond the specifications of a challenge?
In order to encourage experimentation and innovation, we will also accept submissions, beyond the scope of the example challenge, as long as those are creative solutions built on Evmos platform.
How will the workshops be structured?
There will be three workshops in total, all online. We have selected workshop hosts based on their experience in relation to the topics in order to provide you with support. You can watch the workshops on our Youtube
Will there be a Demo Day? If so, when and how will it take place?
There will be a Demo Day hosted on Sep 20 to showcase the Hackathon winners. The Demo Day video will be available on Youtube and share with our community.
Is there a possibility of receiving an additonal grant after the Hackathon to continue the project?
Yes. The judging panel and sponsors might choose to further invest into certain participants. Participants can also apply for Web3 Scholarship's grant to receive further support.
What if I join the competition later?
You can join the competition at any time before the submission deadline at August 31, 11:45 Pacific Time.
Can I join virtually?
Yes, this is a 100% virtual hackathon event.
What is the total prize pool and each prize made of?
There is a 50-50 split between the total prize pool and each prize. In total, the 500k worth of prize money is consisted of $250k USDC contributed by Web3Scholarship and sponsors, where the other $250k worth amount of prize is Evmos tokens which are provided by the Evmos community and given out from its community treasury via an on-chain proposal. For instance if you have won the Grand Prize which is worth of $80k in USD amount, you will get 40k number of USDC tokens, and $40k worth of Evmos tokens. For the specific amount of Evmos tokens calculation please refer to the next question.
How to calculate the amount of Evmos tokens for each prize?
The Evmos tokens = (prize amount/2)/ (30-DAY average Evmos token price on winning team announcement date). As we are using the 50-50 split concept based on USD amount, it is crucial to settle on the Evmos price we are using to determine how many Evmos tokens will be distributed. As a result of community discussion as per the on-chain proposal, the actual number of tokens will be determined on the 30-day average token price of Evmos tokens on the winning team announcement date (proposed Sep 20).
Does the prize will be distributed all at once?
No. As per the on-chain proposal, to hold winning teams accountable for the whole Evmos community, it’s required to distribute prize based on winning team milestone. It is designed to have two stages for prize distribution:
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half of the prize money is secured for winners on the winning team announcement date (proposed Sep 20) .
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the other half will be granted in December by a judging panel composed of Web3Sholarship and Evmos team interview.
For instance if you are the $80k Grand Prize winner, you are eligible for $20k USDC tokens as well as $20k worth of Evmos tokens instantly. The remaining fund will be given based on the performance evaluation of a panel of Web3Scholarship & Evmos team, based on qualitative questions and usage metrics specifically applicable to the winning projects. The judging panel has the right to reject to provide the rest grant if not meeting requirements. Specific judging details will be given approaching the next panel. Questions on number of Evmos tokens calculation please refer to the last question.
What is Cosmos?
Cosmos is a rapidly expanding ecosystem of independent interconnected blockchains built using developer-friendly application components and connected with the ground-breaking IBC (Inter-Blockchain Communication) protocol. There are currently more than 250 blockchain apps and services in the Cosmos network, including Binance Chain, Terra, Crypto.org, Cosmos Hub, and Osmosis, with over $120 billion of digital assets under management.
All Cosmos chains are built using environmentally-friendly Proof-of-Stake (PoS) technology, which allows them to be highly sustainable and scalable with an estimated 99% lower carbon footprint than leading Proof-of-Work (PoW) blockchains. With Cosmos, developers can build entirely autonomous application-specific blockchains that can easily interconnect, self-govern, follow their own economic models with low transaction fees, and scale for mainstream adoption.
What is Evmos?
Evmos is a scalable, high-throughput Proof-of-Stake blockchain that is fully compatible and interoperable with Ethereum. It’s built using the Cosmos SDK which runs on top of Tendermint Core consensus engine.
Evmos allows for running vanilla Ethereum as a Cosmos application-specific blockchain. This allows developers to have all the desired features of Ethereum, while at the same time, benefit from Tendermint’s PoS implementation. Also, because it is built on top of the Cosmos SDK, it will be able to exchange value with the rest of the Cosmos Ecosystem through the Inter Blockchain Communication Protocol (IBC).
What is Web3 Scholarship?
Web3 Scholarship is a funding platform jointly initiated by Huobi Incubator and a group of blockchain veterans, venture capitals, universities, and crypto platforms. It will be committed to funding builders in the Web 3.0 field and providing support in many aspects, i.e,. funds, incubator mentorship and token listing opportunities for early-stage projects.