Pi Core Team launches Hackathon to boost Pi Coin utility, inviting community to build dApps, with winners getting 10M PI in grants.
The Pi Core team has recently announced the launch of the Pi Hackathon, the most recent initiative to enhance the utility of the Pi coin. The event will involve developers attempting to create decentralized applications (dApps) that will attract more users to the network.
Information Regarding the Pi Hackathon for Developers
After the Open Network was launched, the Pi Core team announced the launch of the ecosystem’s inaugural Hackathon in a blog post. The team invited developers to create and deploy significant Pi Apps that will provide practical utility with the Pi coin and contribute to the ecosystem’s development. Developers will be competing for 160,000 coins ($60,800) in incentives.
The team disclosed that the Pi Hackathon will incorporate a general, open-ended theme to foster a wide range of creativity. Developers can create applications that apply to any use case, provided that they adhere to the Mainnet Listing requirements and offer genuine utility to the community.
This announcement is in response to a report that suggested Pi Network could soon become a significant platform for RWA tokenization. Stellar, with whom the network has a relationship, has joined the ERC-3643 Association to facilitate the compliant tokenization of RWAs. Developers could concentrate on developing applications that emphasize tokenization due to this change.
The Pi Core team observed that participants in the Pi Hackathon can capitalize on community contributions by developing an open source initiative using Pi Open Source (PiOS). Additionally, developers can use the Brainstorm app and Pi App Studio to facilitate the development of applications.
Prizes and Event Schedule
The Pi Network team has informed us that the winner will receive 75,000 coins, the second-place winner will receive 45,000 coins, the third-place winner will receive 15,000 coins, and up to five teams may receive 5,000 coins each.
Participants may begin registering and forming teams for the Pi Hackathon as early as today. The Hackathon will commence on August 21. The Pi Core team also urged prospective teams to submit a midpoint check form by September 19.
They stated that teams implementing this approach may acquire additional mentorship, prospective exposure to the Pi community, and feedback before the final judging. The final submission deadline is October 15. This encompasses the app listing on the Developer portal, the demo video, and the submission form.
Given the potential attention that the Pi Coin could garner during this period, it is anticipated that the Pi Hackathon will significantly increase the coin’s price. Furthermore, a recent market analysis identified three potential catalysts for the Pi coin’s upward trajectory.
One explanation is the continuous accumulation of whales, with a specific whale purchasing 350 million coins. Secondly, the token may be listed on the most prominent exchanges. Finally, technical analysis indicates that a robust bullish breakout is imminent.
