Neo (NEO) Announces a Hackathon for Top Blockchain Projects

Neo Global development has unveiled it will be hosting the Polaris Launchpad Hackathon. The Polaris Launchpad was officially launched on March 7, 2022, and it will be open until June 21 this year.

This is the second type of event released on the Neo N3 mainnet. The latter is an upgrade of the Neo network that has attracted more projects in the decentralized finance (DeFi) and non-fungible token (NFT) sector.

Polaris Launchpad Hackathon

NGD is developing on the foundations of the 2021 Frontier Launchpad. The latter offered over $100,000 in prizes and $200,000 in funding after the event. The first Hackathon saw some winning projects such as Rentfuse, Lyrebird, TOTHEMOON, NekoHit and Humswap.

The Polaris Launchpad will offer more benefits than the Frontier Launchpad. The total prize pool will be $500,000, and the top project from every category will receive a top prize of $35,000 and additional prize multipliers. The Hackathon will comprise several categories, that is, decentralized finance (DeFi), metaverse and NFT, decentralized autonomous organizations (DAOs), middleware including NeoFS and native Oracle networks.

Through this event, Neo Global Development wants to incubate some leading projects. The prize winners of the Hackathon will have a spot in the $200 million EcoBoost program. Developers will receive support from the development community on Neo, allowing them to bring their projects to life.

The Polaris Launchpad will comprise the Planathon, the development and the Polaris Plus phase. In the latter, the Neo developer community can donate GAS to the project, and votes will be collected to determine the funding provided by NGD.

The Planathon is the project’s initial phase, allowing the interested parties to submit their project applications and receive initial feedback about the projects. The Hackathon is the main event, and participants can find documents, tutorials and tools that will support their growth.

Finally, Polaris Plus will come after the conclusion of the Hackathon. This final round will occur on the Dorahacks platform. The NEO community will use GAS to support their preferred projects during this phase. Projects can only enter this phase on an invite-only basis.

Growth of the Neo network

The Neo network has seen notable growth over the past year despite the ban of cryptocurrency trading activities in China. Neo is a China-based blockchain project, and it was once known as the “Ethereum of China.” However, after the ban, the project was dealt a major blow, but it has since recorded a positive recovery.

One of the top developments on the Neo ecosystem is that the network would be included in China’s Blockchain Service Network (BSN). The BSN is a network that will allow China residents to access non-fungible tokens (NFTs) that comply with local regulations. China’s NFTs will be known as Decentralized Digital Certificates, and they claim to provide extra utility than audio and images.

🎉We are thrilled to announce that @Neo_Blockchain will be a framework provider on the BSN DDC!

Now users can digitize and automate asset management through smart contracts provided by NEO.

🤔Guess which blockchain framework will be next? https://t.co/758UyNaY3w

— BSN (@bsnbase) February 15, 2022

The integration will also comprise the Neo domain name service (DNS) to allow users to access wallet addresses. These addresses will be easier to use than the wallet addresses currently in the market, unlike the long complicated private keys with other wallets. These wallets will provide unique and short sentences.

The other major development on Neo is the launch of N3. The Neo network launched the N3 upgrade in August last year, and assets have been migrated to this upgrade in a steady and well-detailed process. The launch of N3 has fuelled the adoption of the network by NFT projects. Some of the NFT projects already launched on N3 include MegaOasis and ToTheMoon Universe.

To learn more about this token visit our Investing in NEO guide.