Prizes

Up to $5m in total rewards, investments, & incentives for 3 tracks. Each of the 3 tracks will have 1st to 5th place winners.

Judging Prizes (paid in liquid $FXS tokens & $FXTL points) won by each of the 3 tracks:

1st Place: $40,000
2nd Place: $30,000
3rd Place: $25,000
4th Place: $10,000
5th Place: $10,000

Total of $345,000 won immediately by winners.

-Follow-On Prizes / Milestone Prizes (paid in liquid $FXS & $FXTL points)

The first project in each category to achieve these key metrics in the 6 month period following the hackathon until December 31st, 2024 will be awarded the below Milestone Prize amounts. The prize is paid a single time to the first project in each track.*

For Fraxtal Onchain Dapp Track:

$1,000,000
$500m TVL reported by Defillama.com
$500,000
$250m TVL reported by Defillama.com
$250,000
$125m TVL reported by Defillama.com

For L3 Track:

$1,000,000
$1B TVL reported by L2Beat.com
$500,000
$500m TVL reported by L2Beat.com
$250,000
$250m TVL reported by L2Beat.com

For Offchain App Track:

$1,000,000*
$500,000*
$250,000*

*Combination of unique users & customers/project integrations; due to the unique nature of offchain applications, we will publish a more comprehensive guideline for evaluating follow-on prizes for this track.

**At least one founder/hacker must be publicly identifiable to claim prizes on behalf of the project. Follow-on prize TVL metrics are based entirely on final Frax Finance discretion to confirm correctness & accuracy of sources. Follow-on/Milestone prizes are paid once for each category track. If 1 project reaches the top metric after 6 months, they earn the 1st place prize, not all 3rd, 2nd, and 1st place prizes.

Meetings and office hours with Frax Core Team and VCs that can lead to direct investments.
Every participant that finishes their project, deploys contracts to Fraxtal, and can present a working product will receive participation FXTL points and unique commemorative Fraxtal NFT.

Anyone can enter a hack that has been developed or ideated before May 9th. Late stage or early stage projects are welcome! The only requirements are that entries should adhere to the following to be eligible for prizes, FXTL points, and direct investments:

The project must be deployed to Fraxtal mainnet regardless of wherever else it is deployed to already.
Some newly developed or unique feature must be only on Fraxtal launch regardless of where the application exists before & developed during the hackathon.
If a consumer app/front-end/infra, it must have native support for Fraxtal mainnet.
If the project has a token, the token must be natively issued (not bridged) to Fraxtal mainnet (it can be issued elsewhere through bridges but the first place it exists must be Fraxtal).
If an L3, the native bridge and settlement must be to Fraxtal. Deployment of the L3 with rollup-as-a-service providers are encouraged!