K9 Finance DAO Promotes DeFi Activity on Shibarium with $10,000 Hackathon

K9 Finance, Shiba Inu’s DeFi partner and a prominent player in the Shibarium ecosystem, announced its gold sponsorship for ETH Toronto and ETH Women. As part of this program, K9 Finance will sponsor a hackathon event, offering a $10,000 bounty prize pool in KNINE tokens. This will help incentivize innovative projects and tools supporting the Shibarium network.

The hackathon, set to last one month, would consist of the following rewards:

1st Place: $5000

2nd Place: $2500

3rd Place: $1250

Best Learning Tool: $500

Best Analytics Tool: $500

Best Dog-Themed Branding: $250

Judging Criteria and Requirements

Projects will be judged on the basis of the functionality of the prototype, highlighting outlined solution, impact on Shibarium, percentage completion, alignment with bounty target, innovation/creativity, sustainability/long-term viability, and presentation and pitch.

For a project to be eligible, it must be deployed or connected to Shibarium. Bonus points will be awarded for integrating $KNINE/$knBONE if the project has the potential to generate revenue for K9 Finance DAO. The source code must be published on a GitHub repository under an MIT license, and the Solidity version used must be Paris or below.

The team wants to reach K9 Finance DAO members, development teams, and the management council. They will host the program remotely on the Dorahacks platform, ensuring wide participation from developers globally.

Creating a Robust Shibarium Ecosystem

In a Telegram chat, the K9 Finance team told The Shib Daily that the hackathon event is expecting and already seeing interest from many developers both in and outside of the Shibarium ecosystem. “With a $10,000 KNINE prize on the line, there are a lot of motivated builders. K9’s goal is to attract new dApps to Shibarium with this hackathon, our upcoming grant program, and similar events in the future. K9 Finance DAO is bringing DeFi to Shibarium and will continue to invest in the growth of Shibarium,” they said.

When asked about the ecosystem’s growth the team said Shibarium has a loyal army of Shibizens eager to have access to standard dApps not yet available on Shibarium. “As K9 Finance is bringing the first liquid staking protocol to Shibarium in Q3 this year, the infrastructure and TVL is coming together for these dApps to come to life,” the team revealed.

“This hackathon aims to encourage the development of projects that are most likely to bring a surge of DeFi activity to the chain, providing a more robust ecosystem to generate more activity on-chain from existing users, and to attract new users to Shibarium by offering equal or better DeFi opportunities as competing chains,” the K9 Finance team concluded.

Gairika holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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