Sui Overflow: Global Virtual Hackathon Raises $1 Million to Fuel Layer 1 Blockchain Innovation

Sui Overflow, the inaugural Sui-focused global virtual hackathon, has doubled its funding to $1 million. The hackathon welcomes developers from worldwide to build and showcase projects on the Sui network, competing in categories including Consumer & Mobile, Infrastructure & Tooling, Gaming, and DeFi. Sponsored by dWallet Labs and supported by Alibaba Cloud, Elixir Capital, and more, Sui Overflow offers substantial rewards, ranging from $30,000 for first place to accelerated Sui Foundation Grant Funding.

Sui Overflow: Global Virtual Hackathon Boosts Funding to $1 Million, Inviting Builders to Innovate on Layer 1 Blockchain

Mysten Labs, the creator of the Sui blockchain, has announced a significant increase in funding for Sui Overflow, the first-ever virtual hackathon dedicated to developing innovative projects on Sui's decentralized network. The funding pool has doubled to $1 million, attracting enthusiastic backers who recognize the potential for groundbreaking advancements within the Sui ecosystem.

Initially set at $500,000, Sui Overflow's funding pool has garnered substantial support from external backers, demonstrating the growing excitement and anticipation surrounding the event. The sizable rewards pool aims to incentivize builders worldwide to showcase their skills and create compelling projects on the Sui network.

"Sui Overflow provides both new and experienced developers with an unparalleled opportunity to exhibit their Move prowess and experiment with powerful Sui primitives," said Sam Blackshear, Co-founder/CTO of Mysten Labs and the creator of the Move smart contract language. "We've witnessed exceptional projects emerge from previous local hackathons, so I'm immensely eager to discover the innovations that this global event will produce."

Past Sui-backed hackathons have served as fertile ground for projects that have evolved into thriving businesses on the network. Scallop, a DeFi protocol on Sui, emerged from Sui's Seoul Builder House hackathon in June 2023. Today, Scallop boasts an impressive $117 million in total value locked (TVL), highlighting the potential for hackathon projects to achieve substantial success. Similarly, Navi Protocol, another "Hackathon Hero," has amassed over $130 million in TVL and is a leading DeFi protocol on Sui.

Sui Overflow will feature several categories eligible for prizes, including Consumer & Mobile, Infrastructure & Tooling, Gaming, and DeFi. Developers are encouraged to harness specific Sui ecosystem technologies, such as zkLogin, Advanced Move Features, Randomness, and Multi-chain capabilities.

The hackathon has garnered support from notable sponsors, including dWallet Labs (title sponsor), Elixir Capital, Alibaba Cloud, Comma3 Ventures, MoveBit, Scallop, GSR, Supra, Wormhole, AngelHack, Pyth, Ryze Labs, and ZettaBlock.

Awards for each category include:

• First place: $30,000
• Second place: $15,000
• Two runner-up prizes: $7,500 each

Additionally, 10 $2,500 University Awards and 10 $2,500 Community Favorite Awards will be awarded during the hackathon. Notably, teams are not restricted to a single category and can participate simultaneously in multiple tracks, accumulating awards in excess of $100,000.

"The projects that emerge from developer meetups and hackathons like Sui Overflow are vital to the future of the Sui ecosystem," said Greg Siourounis, Managing Director of the Sui Foundation. "The overwhelming support from the Sui community has allowed us to expand the potential rewards beyond our planned tracks, ensuring that promising projects receive essential funding, audit credits, and accelerated grants."

"Sui Overflow is not merely an event; it's the starting point for the next generation of blockchain innovators," said Omer Sadika, Co-Founder of dWallet Network. "We're thrilled to collaborate with all the partners involved and eagerly anticipate the remarkable outcomes that this hackathon will produce."

Developers interested in participating in Sui Overflow can register on the official portal, where they can access all necessary information. Regular updates and announcements will be shared on the Overflow Discord Server.

Key Dates:

• Registration Period: April 21 - May 31
• Virtual Demo Day: June 15
• Announcement of Winners: Late June 2024

For further inquiries, please contact:

Sui Foundation
[email protected]