In 1492, with the funding of Queen Isabel, Columbus arrived in America on behalf of Spain and became a famous navigator in history. The Age of Discovery gave him the opportunity of the times. Some people say that in addition to his rich navigation knowledge and extraordinary courage, his greatest luck was meeting Queen Isabel.
1. Looking for the Layer2 warriors of the Age of Discovery—Dream big, lets scale!
In order to support developers to explore the possibility of more Layer 2 solutions and open up more new paths, IOSG Ventures will join hands with Chainlink to hold a global hackathon with the theme of Layer 2 expansion, and cooperate with several encryption industry leaders MatterLabs, The Graph , Perpetual Protocol, Synthetix, NEAR, Polygon, Aurora, MCDEX, Celer, Hop Protocol, dYdX, Gelato, DODO and Loopring are looking for the real warriors of the Layer2 age of exploration. The Hackathon is scheduled to open for registration from now on, and will be conducted in the form of online team formation and offline Hacking. Demo and selection will be held in Shanghai on August 1. In this hackathon, we will join hands with top judges and mentors in the industry, hoping to work with partners with ideas and innovative thinking from all over the world to jointly promote the future development of Layer2. In addition to receiving the public prize pool and special prizes, the winning team will also have the opportunity to enter firstIOSG Kickstartercandidate queue.
Since its birth, Ethereum has been highly anticipated as the primary infrastructure for global open applications. However, the block space available per unit time of Ethereum cannot meet peoples needs. High transaction costs and a less-than-ideal user experience have led to a realization that the network needs to scale in order to mature. Each scaling method has its own trade-offs and advantages in terms of security, decentralization, throughput, and flexibility options. However, there is a consensus among scalability researchers that Rollups offer the highest throughput gains without compromising security, decentralization, and ease of development. Rollups basically off-chain expensive computation and storage, while making data available by publishing light/low-overhead call data on-chain using the L1 network.
Ethereums data space is limited. Even though rollup can be expanded through compression and other techniques, the capacity on the Layer1 chain is still limited. The Ethereum gas limit still hinders the throughput of Rollups. This is why off-chain data call protocols zk-porter and Starkex can achieve greater expansion than on-chain data protocols. Finally, the state channel made a comeback in the form of on-chain data rollup. They can provide a faster calling mechanism from layer2 to layer1. Like Celer, Connext and Hop can increase the communication between Layer1 and Layer2, Layer2 and Layer2, increase the efficiency of cash withdrawal from Layer2, and optimize the user experience.
Layer 2 Panorama (Source: IOSG)
The expansion of Ethereum is like a blue ocean, waiting for developers and warriors who love to explore, bravely explore and cultivate, build applications and facilities, and find a new continent that can solve the expansion of Ethereum. Currently, Layer 2 is considered a reasonable way to achieve scaling, and how to build a Layer 2 network is a very open question. We look forward to more outstanding developers participating in the development and design of Layer 2.
Since we launched the IOSG Kickstarter in mid-April this year, we have received applications for many projects, including Layer 2 projects. We are very happy to see more and more outstanding developers joining this track, and we are willing to invest more funds and resource costs to support early developers in this direction and empower them. We hope to find the most outstanding navigators in the Layer 2 Age of Discovery. So, it’s time to set sail!
Dream big, let’s scale!
2. Highlights of the Hackathon:
● $80k excess bounty helps to start quickly: strong financial support, multiple leading institutions’ reward pools for all-round incubation;
● Full ecological developer competition: explore Layer 2 ecological innovation projects and study together with like-minded partners;
● One-to-one in-depth guidance from industry experts: Layer 2 technology experts and top investors regularly answer questions in Workshop+Office Hour, and senior mentors share experience;
● Multi-dimensional review to face the most cutting-edge insights: technology investment professional jury + on-site Hacker voting + user online referendum;
● Simultaneous online and offline activities: Overseas contestants participate online, the mentor team provides remote support, and domestic teams enjoy hacking offline
● IOSG Kickstarter: High-quality teams will have the opportunity to enter the Kickstarter program and receive $10k-$100k in-depth incubation funds;
●Chainlink Special Award: Chainlink Special Award Incentives, looking for innovative trendsetters
3. Multi-level bonus pool with a total value of $80k
A. Activity public bonus pool
The public bonus pool will be evaluated and scored from product design, technical difficulty, economic model, commercial value, demo performance, etc., and the first, second, and third prizes will be selected for incentives. In addition, a Chainlink special award will be set up to be reviewed and awarded by the Chainlink organizing committee.
B. Ecological bonus pool
A number of cooperative organizations will set up special ecological challenges. Interested partners can carry out directional development and design innovative solutions for propositions. Excellent teams will receive generous ecological bonus support and all-round project assistance from cooperative organizations.
C. IOSG Kickstarter Program Prize Pool:
Excellent award-winning teams have the opportunity to enter the candidate queue of the Kickstarter program launched by IOSG Ventures first. Teams that pass the review will receive rewards of $10,000-100,000. Teams that fail the review will also provide them with all-round support, including but not limited to technology development, product Construction, community building, talent introduction, etc.
4. Event schedule
Now - 7.21: Registration opens + online workshop
7.22: Challenge Proposition Announcement
7.22 - 7.29: Online team formation
7.30 - 8.01: 48 hours hacking + offline workshop (Friday to Sunday)
8.01: Demo day,Shanghai
5. How to participate
Registration link:
https://xi3ovztze4u.typeform.com/to/XCcIDANp
Scan to register
Scan to join the group
6. FAQ
1. Is there any charge for this hackathon?
This event does not charge any fees, welcome to register and participate!
2. I don’t know much about Layer 2 technology, can I participate in the hackathon?
Yes, each team consists of 3-5 people. If you have good ideas, understand UI design or product design, etc., you can also join the project team to provide all-round support for the team.
3. Can individual developers apply to form a team by themselves?
Theoretically, we do not recommend teaming up with one person, but if you already have a relatively mature idea and can handle all the production processes by yourself, you can also give it a try!
4. Can I join different teams at the same time?
We recommend that you join a team and fully assist other members of the team to complete the final product and submit the demo.
5. After forming a team, does each team member need to register a participant information form?
Yes, each member needs to submit the detailed information required by the form. Special reminder: a team must use the same team name.
6. If I cannot come to the offline demo, can I participate remotely?
Overseas applicants can participate in the demo remotely.
7. Will non-competitors have the opportunity to watch the live demo?
OK. Public onlookers are welcome to participate. For more information, please pay attention to the IOSG WeChat official account and the content update of the hackathon WeChat group.
8. Is there a live recording on Demo Day? Will it be uploaded publicly later?
There will be a live recording, which will be synchronized on our public channels. The clip will be uploaded to our official account later, so stay tuned!
9. How to participate in the tutor-assisted workshop/panel explanation?
Please keep an eye on our WeChat official account (ID: IOSGVC) and the information update of the hackathon information group, and we will synchronize workshop/panel information with you in time.
10. Where can I learn more about Layer 2?
The best place to go is the Ethereum official website. Here is a detailed introduction to Layer 2:https://ethereum.org/en/developers/docs/layer-2-scaling/#top
