OKX and Google Cloud Host Successful Hackathon for Decentralized Applications on OKT Chain

[PRESS RELEASE – VICTORIA, SEYCHELLES, April 5th, 2023]

OKX, the second largest crypto exchange by trading volume and a leading Web3 technology company, has teamed up with Google Cloud to host the OKX Hackathon to drive growth and innovation of the blockchain ecosystem. The three-day event, held in Silicon Valley, aimed to encourage developers to build decentralized applications on OKT Chain, a leading layer 1 blockchain built on Cosmos.

Over 200 attendees joined the hackathon, forming 46 teams and submitting 32 projects that showcased the potential of decentralized, blockchain-based applications to transform various industries.

The OKX Hackathon also aimed to build awareness of OKT Chain’s technology and infrastructure among the wider blockchain community. By bringing together like-minded individuals with a shared interest in blockchain technology, the event helped to foster a vibrant and engaged community of developers that can promote the growth of the OKT Chain ecosystem.

Meet the Winners

The top five projects were awarded prizes based on their innovation, utility, and potential to positively change the industry. The winning teams were as follows:

Lite OKX bridge

For many game and NFT users, a single purchase rarely exceeds $25. Existing bridges are focused on large payments, which makes them redundant in terms of security and with a high entry threshold (from $30-50). This project proposed technical solutions for bridging small payments, and aims to lower the entry threshold for those who want to explore the OKT Chain ecosystem.

Thanks to the Lite OKX bridge, users will be able to transfer $2-5 from USDT on Polygon to OKTC in 1-2 minutes without commissions. This will allow them to access all projects on OKTC in one click. Thanks to the SDK, sites will be able to natively support this bridge and the user won’t have to leave the site.

Hexlink

The Hexlink platform offers a significant benefit by eliminating the need for users to set up a wallet before receiving tokens. Hexlink makes OKT Chain more user-friendly and accessible as it eliminates a barrier to entry for potential users who may not be familiar with the process of setting up a wallet. It also provides greater flexibility and convenience for users who can set up their accounts and wallets at a later time, when it is more convenient for them. This approach encourages more individuals to participate in activities on OKT Chain, thus driving the user adoption of the chain.

OKX Guardian

OKX Guardian was inspired by the need for a more secure and transparent way of managing a person’s digital assets after their passing. While some may opt for a lawyer to handle their will and distribute their crypto assets, there are inherent risks in entrusting private keys to a third party. In the event of a security breach, the private keys could be compromised, putting the entire estate at risk. OKX Guardian proposed a decentralized and trustless solution, ensuring that the wishes of the deceased are executed without any reliance on a single individual or institution.

Web3 Ads

A lack of transparency in the advertising marketplace due to intermediaries increases costs for both advertisers and publishers and leads to inefficiencies, distrust, and potential ad fraud. This project proposed smart contracts to make it possible for advertisers and publishers to use OKT Chain to buy and sell directly without intermediaries.

Petreat

Every year, 6.5 million dogs, cats, and other former pets are abandoned or lost and enter shelters. Of all these animals, only 3.2 million are adopted, and many see shelters again after less than a year of finding a new home. In order to provide suitable conditions for animals, shelters need regular donations.

Petreat collects donations from supporters and sends this amount to shelters in need. The project was developed with the belief that a reward system is also crucial to motivate and thank donors for their support. Petreat added a NFT reward system so that supporters receive a unique NFT in return for doing a good deed.

Top teams at the Hackathon received OKX tokens, Google Cloud credits, and other rewards. Senior executives from OKX and Google Cloud praised the participants for their hard work and innovation and encouraged them to continue exploring the possibilities of decentralized applications on the OKT Chain.

OKX and Google Cloud’s partnership in organizing the hackathon underscores their commitment to fostering innovation and creating a more decentralized future.

About OKX

OKX is the second-largest global crypto exchange by trading volume and a leading Web3 ecosystem. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for investors and professional traders everywhere.

OKX’s leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.

OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.

OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.

To learn more about OKX, visit: okx.com