With the rapid development of blockchain technology, the future of the Web3 ecosystem is full of endless possibilities. As one of the important players in this field, UMA (Universal Market Access) will participate in the upcoming ETHGlobal Waterloo Hackathon from June 23 to 25 and provide sponsorship for this event. This event is not only a stage for developers to showcase their creativity, but also an important opportunity to promote the development of the Ethereum ecosystem.
UMA and its importance
UMA is Web3's optimistic oracle. As a decentralized truth mechanism, it can provide data for smart contracts and allow any verifiable truth to be recorded on the blockchain. The flexibility of this technology allows developers to be creative in a variety of application scenarios, from decentralized flight insurance to sports betting platforms, all demonstrating the potential of UMA.
ETHGlobal Waterloo Hackathon Overview: The ETHGlobal Waterloo Hackathon attracts developers and innovators from around the world, and the event has a prize pool of up to $225,000, of which UMA will donate $10,000 to the best projects. This is not only an affirmation of developers’ creativity, but also support for the future Web3 ecosystem. Entrants can submit their ideas here for a chance to win huge prizes.
Prize distribution
First place: $5,000
Second place: $2,000
Pool Prize: $3,000
These bounties will be issued in the form of $UMA tokens to encourage developers to be creative in projects using the UMA or Across protocols.
Why attend ETHGlobal Waterloo? Hackathons are where the brightest new ideas for Web3 are born, and ETHGlobal’s events have always been an important part of the hackathon season. This event will bring together project teams, mentors, developers, and other community members to share ideas on how to advance the Web3 field. In addition to UMA, teams such as The Graph and Polygon are co-sponsoring the event, where Ethereum founder Vitalik Buterin will deliver a keynote speech.
During the three-day event, core UMA team members will be on hand to provide support and guidance, helping hackers develop more innovative projects. We will evaluate all projects using UMA or Across protocols and select the best ideas as winners.
UMA’s vision for the future
The UMA team has had a fulfilling journey in the first half of 2023, launching the long-awaited UMA 2.0 upgrade and introducing $UMA staking and OOv3. Additionally, we launched a tool to support optimistic snapshot execution (oSnap) of DAOs. These innovations not only improve the capabilities of UMA, but also provide developers with more powerful tools to implement their ideas.
How to participate? Currently, applications for developers are still open, and you can submit your application on the official website of ETHGlobal Waterloo to build amazing projects with developers from all over the world. This is a unique opportunity to not only showcase your creativity, but also to network with other talented developers and gain valuable experience.
Conclusion
As the ETHGlobal Waterloo Hackathon approaches, UMA invites all developers passionate about Web3 to join us and explore the possibilities of the future. This event is not only a stage to showcase creativity, but also an important step in promoting the development of the entire ecosystem. Let us work together to create more possibilities in this potential field and contribute to the future Web3 ecosystem.