TORONTO, ON – 09/10/2024 – (SeaPRwire) – Metis, a prominent player in the Ethereum Layer 2 ecosystem, has taken a bold step forward with the launch of its latest initiative, the Startathon program. This innovative program merges the fast-paced, creative energy of hackathons with the structured support and growth potential of an accelerator, providing Web3 developers worldwide with a unique platform to bring their ideas to life. By fostering a collaborative and competitive environment, Startathon is designed to guide developers from initial concepts to full-scale, scalable solutions. Unlike traditional hackathons, where participants sprint towards short-term outcomes, Startathon is engineered to create sustainable, long-term growth through its meticulously designed structure.
Startathon is strategically divided into two main tracks: one that targets global innovators and the other that focuses on the booming Web3 ecosystems in Asia, particularly in regions like South Korea, Vietnam, and Japan. The global track offers a broad platform for developers to engage with the most crucial sectors in Web3, including decentralized finance (DeFi), tokenized assets, and gamified social platforms. In contrast, the local track is tailored to the specific needs and dynamics of the Asian Web3 landscape, leveraging partnerships with regional incubation partners to foster localized innovation.
This program goes beyond just competitions by offering a comprehensive support system that addresses both the creative and developmental stages of Web3 projects. Participants will be required to progress through three key phases in the program’s structure, ensuring that the ideas they propose evolve into fully functional platforms. These phases are marked by crucial milestones, which developers must complete to unlock continued financial support. The first milestone is Proof of Deployment, where developers must show a working prototype or initial build. This is followed by the Proof of Improvement phase, in which teams demonstrate how their projects have evolved and improved based on feedback and further development. The final stage is Proof of Traction, where participants must prove that their solution has gained real-world adoption or substantial user engagement. Each of these stages is carefully monitored through Thrive, an advanced tracking system that ensures transparency and accountability, setting Startathon apart from other accelerator programs.
With over $200,000 worth of METIS tokens in prizes, Startathon promises substantial rewards for the best-performing projects. These incentives aren’t just limited to winning teams but are structured to ensure continuous development, offering milestone-based funding at each stage. This milestone-based model provides an opportunity for projects to showcase real progress and earn the necessary financial backing to push forward.
Additionally, selected participants will have the chance to compete in three specialized bounty categories: Cross-Chain DeFi Solutions and CCIP, Real World Asset (RWA) Tokenization Platforms, and Tokenized Communities with Gamified Social Platforms. Each category represents a significant area of growth in the Web3 space, and teams are encouraged to innovate and address key challenges within these sectors.
Elena Sinelnikova, Co-Founder of Metis, emphasized the uniqueness of the Startathon program, noting that it combines the best aspects of both hackathons and accelerators. “Startathon represents the culmination of years of learning and development. Web3 has made it possible to combine the fast, exciting pace of hackathons with the long-term growth potential of accelerators. We want to offer developers the chance not just to create, but to thrive in a competitive, transparent, and fully supported environment,” she said.
In addition to the prize pool, high-potential projects may also be selected for a curated Gitcoin Quadratic Funding (QF) round. This unique funding mechanism uses community feedback and matching funds to further accelerate projects that demonstrate strong promise and societal value. The Gitcoin QF integration aligns with Metis’s broader vision of decentralization, encouraging community participation in deciding which projects receive additional funding and recognition.
Metis has already made significant strides in Web3, becoming the first Ethereum Layer 2 solution to decentralize its sequencer and introduce revenue-sharing models. Their focus on scalability, transaction speed, and cost-efficiency positions them as leaders in solving Ethereum’s most pressing challenges. By launching Startathon, Metis is doubling down on its commitment to support Web3 innovation, not only by solving technical barriers but by nurturing the next generation of developers and entrepreneurs.
With a robust framework, an attractive prize pool, and unparalleled growth opportunities, Startathon promises to be a game-changer in the Web3 development space. It stands as a beacon for developers who are ready to take their ideas from concept to reality in a globally competitive and supportive ecosystem.
SOURCE: Metis
by Arrow123
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