CFP: Hackathon for DeFi Meta Chain (350,000 DFI)

[kynkong91]

Overview

1. Requester(s): Kong Yu Ning, Product Manager, Birthday Research @kynkong91
2. Amount requested in DFI: 350,000
3. Receiving address:
4. Reddit discussion thread: See Discussion
5. Proposal fee (10 DFI) txid:

1. Background

Since the approval of DFIP 2111-B to add native support for EVM on DeFiChain, the engineering community has been hard at work to materialize this vision. This project was later aptly coined DeFi Meta Chain. Essentially, DeFi Meta Chain is a new EVM blockchain layer that will be tightly coupled with the native non-turing complete DeFiChain.

In layman's terms, DeFi Meta Chain is just like a gaming expansion pack. With this new gaming expansion pack, we add new content to the original native DeFiChain, whilst still retaining the original qualities and principles of the native DeFiChain - a blockchain dedicated to fast, secure, intelligent and transparent decentralized financial services.

DeFi Meta Chain will greatly benefit the DeFiChain community (non-exhaustive list):

• Enables the cross-operability of DeFiChain tokens and coins with the Ethereum ecosystem, which brings more liquidity and hype to DeFiChain
• Allows for more interesting dApps to be built in DeFiChain, which brings more developers, content and users to the DeFiChain community

Here is a broad roadmap DeFi Meta Chain:

• Launch of DeFi Meta Chain website
• Launch of DeFi Meta Chain TestNet
• Launch of DeFi Meta Chain teaser video
• Launch of DeFi Meta Chain MainNet
• Post MainNet launch activities: (1) DeFi Meta Chain Hackathon, and (2) Most Valuable Builder program

2. Describe the purpose

As mentioned in the broad roadmap, we intend to launch a DeFi Meta Chain Hackathon. The goals and success metrics for the DeFi Meta Chain Hackathon are:

3. Format of Hackathon

The DeFi Meta Chain Hackathon will be held virtually on Devpost after the launch of the DMC MainNet. Devpost was selected because:

• They have experience in organizing blockchain hackathons
• Their expansive community of experienced developers (particularly in North America), which enables DeFiChain to outreach beyond our traditional base of support

Participants will have approximately 6 weeks to build their dApps and submit it for evaluation. The evaluation period will last 2 weeks. There will be 2 types of prizes:

• General Category (best overall project)
• Specific tracks: DeFi, NFTs, Gaming, Developers Tool/Infrastructure for DeFi Meta Chain Ecosystem

Note: The specific categories and allocation of the prizes are not yet confirmed. We will be consulting Devpost (who has organized many similar hackathons before) on what categories and allocation of prizes would achieve the most optimal outreach.

4. Fund Allocations

In total, we are asking for 350,000 DFI. The fund allocation is as depicted:

The pricing tier for project management services by Devpost are as reflected below. We will be opting for the basic tier.

The pricing tier for marketing services by Devpost tiers are as reflected below. We will be opting for the basic tier. For marketing, we will be opting for the full tier. The reason is because marketing will directly affect the (1) number of participants, and (2) number of completed projects which are the north star metrics of our Hackathon.

You may check out the full slide deck sent to us by Devpost here. Any unused funds will be returned to the CFP fund.

5. How does this CFP benefit the DeFiChain Community?

This CFP will benefit the community in the following ways:

• Generate outreach and buzz for DeFiChain
• Draw dApp developers to build new content for the DeFiChain community, which draws even more users and developers to the DeFiChain community. This then generates a ton of added utility for the native DFI token
• Given that the other top 20 crypto projects have successfully launched hackathons of similar scale, if DeFiChain can implement this successfully, it would place DeFiChain alongside the top 20 crypto projects in terms of optics