TL;DR Breakdown
- Nigeria’s crypto startup, Xend Finance is hosting the largest blockchain Hackathon in Africa.
- CEO describes event as movement for future of blockchain, crypto in Africa.
- Binance says Africa is critical for advancement of crypto.
Xend Finance, a Nigerian crypto startup and the first decentralized finance (DeFi) platform for credit unions and cooperatives has kickstarted its blockchain hackathon, which it describes as the largest blockchain hackathon in Africa.
The Hackathon is dubbed “Decentralizing Africa and Beyond.” Binance Smart Chain, Google, Huobi, Polygon, among others, will be amongst the judges and speakers of the three-month Hackathon. The event began back in September, corresponding with Xend Finance Software Developer Kit (SDK) release.
SDK allows individuals to build on top of the Xend Finance DeFi platform, a Layer-2 DeFi infrastructure.
Xend Finance Hackathon, movement for future of blockchain, cryptocurrency – CEO
“The Xend Finance Hackathon is a movement for the future of blockchain and cryptocurrency usage throughout the African continent,” said Ugochukwu Aronu, CEO of Xend Finance. “The continent faces the most severe cases of currency fluctuation and devaluation in the world, and this hackathon will play a major role in creating a borderless economy by laying the foundation of Layer-2 DeFi to be accessed by all.”
The three-month Hackathon ends 21st of December, featuring several keynote speeches from crypto bigwigs like Mike Novogratz, CEO of Galaxy Investment Partners, and Onajite Emerhor, Head of Google For Startups Accelerator: Africa, amongst others.
The firm noted that over $1,000,000 worth of prizes are being offered, including $100,000 from Xend Finance, along with individual prizes from Binance Smart Chain, Huobi, Polygon, and other partners.
On the sidelines, there will be weekly workshops with experts on developing DeFi protocols, building on the various blockchains, blockchain gaming, NFTs, fundraising for startups, and more.
Africa, critical for advancement of cryptocurrency – Binance
“Africa is one of the most important regions in the world for the advancement of cryptocurrency and realizing the full potential of blockchain technology,” Gwendolyn Regina, Investment Director of Binance Smart Chain Accelerator Fund, said.
She described partaking in the event as an honor. “It’s an honor to be able to partake in an initiative that helps the people of Africa access borderless opportunities today and in the future.”
