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Harmony announces $1M Hackathon to combine traditional finance with DeFi

The hackathon will last approximately six weeks, from Aug. 15 through Sept. 30, and includes four challenges from three categories.

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Harmony announces $1M Hackathon to combine traditional finance with DeFi

Register now for the Harmony Blockchain Hackathon, which will begin next month and offer more than $1,000,000 in seed funding as well as prizes for participants.

Harmony announced on Twitter that the hackathon will be focused on bringing more people from traditional finance to solve problems in their fields and decentralized financing. According to the protocol, there will be four challenges for each category of social wallets, keyless security and cross-chain and trustless bridges as well as cross-border fintech integration.

Harmony said, "In blockchain finance is where we see product market fit." But most of DeFi was created without traditional finance. We want more TradFi to help DeFi. We are confident they have a lot to learn from us. We can help them understand the power of DeFi, teach them a lot and also teach them.

Omakase , SushiSwap core development, is listed among the featured speakers and judges. He joins Earn.com cofounder Lily Liu and Imran Khan (DeFi Alliance lead) as other participants. CoinGecko sponsors include Messari, Unstoppable Domains and SushiSwap. Hummingbot is a news platform that covers the Defiant and Lily Liu co-founders.

Harmony's mainnet was launched in 2019 as a sharding protocol that uses an Ethereum bridge to separate its chain into segments that can process transactions and store data simultaneously. Since then, the project has announced numerous partnerships and integrations including with Terra stablecoin platform to allow its token to migrate from Harmony to be used in applications within the ecosystem.

Harmony announced last month that it would sponsor the hackathon to help reach 10 billion people. The event is limited to five people. Registration closes Aug. 15. The event will be held over approximately six weeks, starting at the submission deadline and ending on Sept. 30.

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