MetaFi the CoinEx Smart Chain: Join the Second CSC Hackathon for a Wonderful Summer
CoinEx Smart Chain (CSC), a public chain created by CoinEx Exchange, is a decentralized financial ecosystem featuring EVM compatibility, PoS consensus, high efficiency, and low fees. The CSC ecosystem now covers projects that focus on a wide range of fields, including Web 3, DeFi, gaming, NFT, and social media. Moreover, CSC allows projects to accommodate millions of users.
Recently, CSC announced that “MetaFi the CoinEx Smart Chain”, the second CSC Global Hackathon, will kick off on Aug 10 and end on October 28, lasting 11 weeks. Submit your project any time before October 14 and win the $100,000 prize!
The 2nd CSC Hackathon
Submission period: August 10 — October 12
Judging period: October 17 — October 24
Winner Announcement: October 28
Focusing on “the integration between the metaverse and finance”, “MetaFi”, the combination of “metadata” and “DeFi”, aims to bring more practical, profitable, and influential innovations to the digital world. MetaFi is likely to be a marriage of decentralized finance (Defi), centralized finance (CeFi), and traditional finance (TradFi), with applicability to projects that operate in all blockchain categories, including the metaverse, GameFi, SocialFi, Web 3, and NFT. Centering on digital assets, MetaFi also features the mass adoption of Web 3 and blockchain technology. Having seen the great potential in MetaFi, the second CSC Global Hackathon will present a race for geeks that focus on this trending new concept. Let’s look forward to this summer feast.
The hackathon will feature four categories:
- Web 3 infrastructures: Web 3 will change the way we organize, communicate, and collaborate, and decentralization is its key principle. Through the innovative dual consensus mechanism, CSC ingeniously combines PoS with PoA and achieves decentralization via 101 validators and staking requirements, thereby providing a reliable, stable foundation for building Web 3 infrastructure.
- SocialFi projects: A SocialFi project, the combination of Social and Finance, is essentially a decentralized social application. With a 1,000 TPS, CSC scales better than most public chains. At the same time, CSC has kept improving its throughput. Relying on transactions that do not require the validation of all nodes, the public chain will become more scalable, evolving into an enabling environment where SocialFi projects can grow and succeed.
- GameFi projects: GameFi projects are Play-to-Earn blockchain games that provide players with economic incentives. As such projects are delivered in the form of games, they require strong public chain performance. In this regard, CSC’s low fees and fast transactions, as well as the massive funding from the CSC ecosystem, help GameFi projects quickly stand out from peers. Compatible with EVM, CSC features the additional perk of low storage costs, enabling fully on-chain gaming experiences;
- NFT: NFTs must be 100% on-chain and permanently stored, and CSC offers ultra-low fees. This means that users do not have to pay expensive gas fees, and developers and creators can mint NFTs at low costs. As such, CSC and NFTs are empowering each other and mutually complementary.
Requirement: Participants need to build a fully functional decentralized application (DApp) on CSC, and the DApp should be at least deployed on the testnet.
Participants of the hackathon are required to submit the following:
- The official website of the project, and a whitepaper describing the project mechanism and tokenomics;
- A codebase link (the codebase should be made public, or the participant should grant codebase access to email@example.com and firstname.lastname@example.org);
- The contract address deployed on CoinEx Smart Chain;
- A project description video of about 3 minutes (the video must be publicly viewable on Youtube, Vimeo, or Facebook);
- All projects must at least deploy all their functions on CSC’s testnet;
- Project developers are required to join the Discord server and provide their email and telegram ID as the contact information;
*Note: the final prize is only available to participants who have deployed project functions on CSC’s testnet.
During the hackathon, judges will assess the entries from four dimensions, including project concept, level of completion, user experience, and potential influence. Such criteria also reflect how much CSC values the potential and creativity of projects. The public chain is also willing to offer emerging tech teams a level playing field where they can grow as equals. Meanwhile, CSC’s Multi-Million Dollar Supportive Plan and Five-Million USD Special Funding Support for Metaverse Ecology will also provide funding support for the outstanding participants to help them evolve and flourish.
As an EVM-compatible public chain that features high performance and low fees, CSC aims to build a decentralized financial ecosystem. All developers can easily build their own decentralized applications based on CSC or quickly deploy their EVM applications on CSC. Within just six months since its inception, CSC has managed to attract a wide range of on-chain applications, covering popular categories such as DeFi, blockchain tools, NFT, and GameFi.