Matrixport Promotes Innovation on the Avalanche Platform
The exponential growth in blockchain technologies and the rise of digital assets, such as crypto, has been on the back of relentless innovation and the spirit of discovery.
That is why Matrixport is excited to be supporting Avalanche Asia Hackathon 2022 alongside ecosystem partners including top-tier VCs and exchanges, in a quest to attract top developer talents and early-stage projects to build on Avalanche.
Avalanche is a layer-1 smart contract platform, which conducts faster transactions with lower fees compared to the likes of Ethereum. Avalanche is capable of hosting just about any Web3 protocol, enabling developers to build and deploy dApps, subnets and custom blockchains on its platform. Powered by its proprietary proof of stake model and the primary token AVAX, Avalanche is capable of processing over 4,500 transactions per second.
Through a host of user incentives, partnerships, protocol launches, and core platform upgrades for optimisation, Avalanche has risen to become an exponential platform on the DeFi network with an explosive 714% growth in Total Value Locked in Q4 of 2021 — a milestone that would not be possible without the support of the developer community.
Matrixport will be a part of the jury panel to unearth high-potential, innovative DeFi and community projects.
“Avalanche (AVAX) is at the forefront of Layer1 innovations which are turbo-charging possibilities for the future of Web3. Matrixport is proud to support an initiative that aims to ignite Asia’s brightest builders and attract early stage projects that will enrich the wider ecosystem and community,” said Daniel Yan, COO and Founding Partner, Matrixport.
The hackathon is organised by Avalanche and Web3 developer community, DoraHacks. Such initiatives are a cornerstone in attracting the brightest minds and their innovative projects that will enhance the DeFi ecosystem for sustained growth. Particularly, as an investment-based hackathon, it offers the largest prize pool (US$5,000,000) in the Asian region. The opportunity is open to all types of dApps and projects, from DeFi, Web3, NFT, GameFi, to Infrastructure and Tooling.
Running from 1 February to 31 March 2022, with award announcements slated for April, the Hackathon also offers weekly educational workshops online to help participants make the most out of their Avalanche experience. Find out more about the Hackathon and the participation process here.