The Open Network (TON) Unveils DeFi and Data Analytics Hackathon with DWF Labs and Amazon Web Services

[PRESS RELEASE – Singapore, Singapore, May 25th, 2023]

The Open Network (TON), a revolutionary technology to unite all blockchains and Web2 internet into one open network, in collaboration with DWF Labs and Amazon Web Services (AWS), is hosting a decentralized finance (DeFi) and Data Analytics Hackathon, Hack-a-TON x DWF Labs x AWS.

The hackathon provides developers interested in DeFi and data analytics with the opportunity to design, code, learn and network as they bring their ideas to life. Participants will be able to engage with a vibrant community of Web3 builders, obtain access to virtual workshops led by experienced mentors and specialists, and showcase their ideas at the event finale.

The winning project will receive investment from DWF Labs to transform their idea into reality. In addition, there’s a total prize pool that includes prize money of 150,000 USD worth of Toncoin (TON), the native cryptocurrency of TON, and an additional 150,000 USD worth of TON in grants and AWS Credits worth USD 115,000. TON is used for transaction fees, securing the TON blockchain through staking, deciding how the network develops and setting payments.

Throughout the duration of the hackathon, there will be regular virtual workshops for all participants and online assistance from AWS, DWF Labs and TON mentors who will be ready to answer questions from teams in the hackathon chat while the building phase runs from May 27 until July 27. The sessions are designed to aid builders and provide them with the skills, knowledge, and time they need to build on their ideas, bring their projects to life, and network with other participants. Participants who successfully complete the hackathon will receive exclusive NFTs; and teams who make it to the final round will be entitled to exclusive merchandise and stand to win from the prize pool.

“This event is a remarkable opportunity for developers passionate about DeFi and data analytics to unleash their creativity, learn, and network with like-minded individuals.” said Andrei Grachev, the Managing Partner at DWF Labs. “We believe in the power of innovation and want to inspire builders to create exceptional applications on the TON platform. In addition to the substantial monetary prizes, our aim is to encourage participants to contribute to the growth of the TON ecosystem by building transformative projects. We eagerly await the groundbreaking ideas and solutions that will emerge from this hackathon, and we’re excited to support the winners in bringing their visions to life.”

“We’re delighted to work in collaboration with DWF Labs and AWS, the world’s most comprehensive and broadly adopted cloud on a hackathon, that will showcase the very best of TON talent in the emerging fields of DeFi and data analytics,” said Justin Hyun , Head of Incubation at TON Foundation. “This event represents a great opportunity to learn and build as projects in our ecosystem continue to grow and flourish.”

Registration for Hack-a-TON DWF Labs x AWS kicks off on May 27, 2023 at 12:00 (UTC+4), together with the build phase. Registration will close on June 27, 2023, at 12:00 (UTC+4), with the build phase continuing until July 27, 2023, at 23:00 (UTC+4), when all applications must be submitted.

Participants are encouraged to apply as early as possible in order to have more time to build their projects. Each team is required to go through the registration process and receive approval prior to participation. Teams can consist of between three and five people and are required to use open-source code and make this accessible after the build phase concludes.

Once the build phase is complete, Hack-a-TON x DWF Labs x AWS judges will evaluate each project from July 27 until August 10, 2023, with the list of 20 finalists to be announced on Friday, August 11, 2023. Each project will be rated for its potential to achieve growth in the TON ecosystem, technical accomplishment, ‘ Wow’ factor and business merit. Finalists will then have one month to prepare for their project showcase, from August 11 to September 10, 2023.

Hack-a-TON x DWF Labs x AWS will conclude with an offline showcase on September 11-12, 2023 at the AWS Headquarters in Singapore. For the final round, the judging criteria will be slightly different, with each project rated based on its pitch, quality of idea, ‘wow’ factor, problem solving and business merit. The offline showcase will take place as a precursor to TOKEN2049, Singapore’s premier annual crypto event that brings together founders and executives of the world’s top Web3 projects.

Finalists will compete for a bevy of exciting prizes;

1st Prize:

• 70,000 USD worth of TON sponsored by DWF Labs
• 70,000 USD in TON grants
• 10,000 USD worth of AWS Credits

2nd prize:

• 50,000 USD worth of TON sponsored by DWF Labs
• 50,000 USD in TON grants
• 10,000 USD worth of AWS Credits

3rd prize:

• 30,000 USD worth of TON sponsored by DWF Labs
• 30,000 USD in TON grants
• 10,000 USD worth of AWS Credits

17 finalists will each receive 5,000 USD worth of AWS Credits.

All participants will receive exclusive NFTs and the finalists who attend our showcase will get a cool merch pack. Winners will receive DWF Lab’s prizes once the hackathon is over and TON Grants will be paid upon each milestone completion.

• TON price used will be the average over the 2 months spanning the hackathon.

All participants at the offline showcase will receive exclusive NFTs and cool merchandise packs. To register for the event, click here to complete the process.

About The Open Network

The Open Network (TON) is a revolutionary technology to unite all blockchains and Web2 internet into one open network. It was born to empower billions of Telegram users with genuine Web3. Originally introduced by the Telegram team inheriting its freedom and openness ethos, it has been run as an open-source community project since 2020. TON’s layer-1 architecture is designed to scale up to 2 to the power of 32 workchains, each of which can be subdivided into up to 2 to the power of 60 shardchains. It can support millions of transactions per second near-instantly.

Telegram has helped people stay connected. TON will transform the communities into economies. Learn more: https://www.ton.org

About DWF Labs

DWF Labs is the global digital asset market maker and multi-stage Web3 investment firm, supporting portfolio companies from token listing to market making to OTC trading solutions.

With offices in Singapore, Switzerland, the UAE, Hong Kong, South Korea, and BVI, the investment company DWF Labs is an affiliate of Digital Wave Finance (DWF), which consistently ranks among the top 5 trading entities by volume in the cryptocurrency world through its proprietary technology for high-frequency trading.