Ripple VP Invites Devs to XRP Ledger DeFi Hackathon

Developers of decentralized finance (DeFi) applications can submit their products to share $10,000 prize fund

The organizers of the first-ever XRPL DeFi hackathon in Japan shared details of the application process and indicated the most crucial segments of XRP-centric development for potential participants. Ripple's high-ranking officer is among jury members.

XRP Ledger DeFi hackathon kicks off: What to know Emi Yoshikawa, Ripple's strategic initiatives VP, invites all XRPL-focused developers to take part in the XRP Ledger DeFi hackathon. The event starts today, Nov. 26, 2023, in Shibuya, Tokyo. Applications can be submitted to the organizers until Dec. 10, 2023, the official event website says.

Successful products will be pitched during demo day on Dec. 12, 2023. The XRPL DeFi hackathon team indicated three major directions for developers of smart contracts and dApps. In the upcoming hackathon, applications for XRP Ledger transactions, including decentralized crypto exchanges with automated market making instruments, tokenization tools and so on, will be in focus. Besides that, XRP Ledger enthusiasts are welcome to submit apps using the Hooks amendment, cross-chain bridges and other programmable developments on XRP Ledger. The aggregated prize pool for the winners is capped at $10,000 in equivalent, while a separate $1,500 pool will be shared between projects using the Ethereum Virtual Machine (EVM) sidechain, the announcement says.

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