We Are Moving the Deadline for Tezos DeFi Hackathon 2022 Projects by 2 Weeks

We Are Moving the Deadline for Tezos DeFi Hackathon 2022 Projects by 2 Weeks

Many of our participants told us that due to the events in eastern Ukraine it is difficult for them to remain calm and concentrate on the hackathon. Tezos Ukraine is a Ukrainian non-profit organisation and we share their concerns and worries.

For those reasons, we decided to end the hackathon 2 weeks later than we originally intended to give the participants more time to work. The new deadline for submitting projects is 14 March at 12:00 AM EEST. The judges will select the winners by 20 March.

Meeting with Mentors: Summary

During the hackathon, participants had over 200 meetings with the team and technical mentors. We described this work in the summary of Tezos DeFi Hackathon 2022, and here we will share the opinions from the technical mentors.

In general, they appreciated the preparedness of the participants: there were few rookie questions, everything was up to the point, and the desire to make the best project was always there.

Mikhail Zaikin, Technical Lead at Baking Bad: “There are very strong teams from Ethereum and Everscale ecosystems. They have chances to turn the project from a hackathon into a full-fledged product, as well as every chance to pivot after the hackathon and go beyond the partner frameworks.”

Stepan Naumov, the winner of Tezos DeFi Hackathon 2021 and developer of Juster: “There are capable teams participating in the hackathon, but still many of them deal with smart contracts for the first time in their lives. Nevertheless, there are people who have understood their challenges in-depth and set themselves interesting tasks. I think that regardless of the results, some participants will be interested in progressing further and will eventually create independent products.”

Korney Vasilchenko, CTO of Madfish Solutions: “There are both strong teams experienced in blockchain tech and those who are trying their hand in this field for the first time. I’ve talked with the participants who used to work with Solidity and are now trying to conquer the Tezos hackathon. They have a good understanding of DeFi and smart contracts. Our win-win lottery challenge is a proven business model without implementation in the Tezos ecosystem, so the teams have a real chance of turning the project into a full-fledged product.”

Project Submission and Evaluation

The result of the hackathon is a prototype of a commercial product. In addition to developing the project, participants make a presentation and provide an MVP if possible. As a result, the judges will receive the following:

  • a code on GitHub;
  • a video presentation on YouTube;
  • a link to the demo or MVP;
  • some comments from the team.

The partners and the independent jury evaluate the projects from 14 to 20 March.

The approach to evaluation varies. The partners check out how well the solution complements their original product and tackles their task, while the independent jury awards points based on the following criteria:

Functionality, i.e. how well the project fulfils its purpose:

  • 1 point: it crashes when performing some of the functions;
  • 2 points: some of the functions required to solve the challenge are missing;
  • 3 points: the project is fully working.

Technical implementation, i.e. how effective the technological approach and solution are:

  • 1 point: poor implementation;
  • 2 points: average implementation;
  • 3 points: excellent implementation.

Presentation and scaling strategy, i.e. how well the team understands the problem, how the project addresses it, and whether the team has a plan to scale and develop the project in the Tezos ecosystem:

  • 1 point: the problem is not clearly identified and the solution is weird;
  • 2 points: the problem is clearly identified, the solution is good and will be of interest to users;
  • 3 points: the problem is clearly identified, the solution is good and will interest the users. Moreover, the team has a strategy for developing the project in the ecosystem.

The developers evaluate the functionality and technical quality, while the non-tech people evaluate the strategy. In the end, projects will be awarded 10 to 30 points.

There are 6 people from the Tezos ecosystem’s key R&D teams on the jury board:

  • Edward Adlard, Head of BD & Adoption, TrilliTech;
  • Vasil Yakov, Product Lead, TriliTech;
  • Louis Chevalier, Business Development Manager, Nomadic Labs;
  • Daniel Jean, Blockchain Engineer, Nomadic Labs;
  • Dani Jozsef, Blockchain Expert, TZ Connect;
  • Raffael Kuhn, Analyst at Tezos Foundation.

On 20 March, the judges and partners will provide us with the results, and on the next day, we will announce the winners at the hackathon closing ceremony. They will get their prizes within two weeks.

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