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Sui Overflow hackathon, a global virtual event that fosters innovation on the Sui blockchain, has received a significant funding injection, doubling its initial funding pool to $1,000,000.

According to an official release today, this surge in financial support is due to enthusiastic backing from prominent sponsors, including Alibaba Cloud, AngelHack, and dWallet.

Sui, known for its Layer 1 blockchain, which offers top-tier performance and limitless horizontal scaling capabilities, is attracting builders worldwide to participate in Sui Overflow.

The event invites developers to create and showcase groundbreaking projects across various categories, including Consumer and mobile, Infrastructure and tooling, Gaming, and DeFi, on the Sui network.

Participants are encouraged to utilize Sui’s advanced technologies, such as zkLogin, Advanced Move Features, Randomness, and Multi-chain capabilities.

Sam Blackshear, Co-founder/CTO of Mysten Labs and creator of the Move smart contract language, expressed excitement about the hackathon, saying,

“Sui Overflow offers both new and experienced developers a chance to show off their Move skills and experiment with powerful Sui primitives like zkLogin, sponsored transactions, kiosk, DeepBook, and native randomness. Some of Sui’s top projects were born in previous local hackathons, so I am genuinely excited to see what the first global hackathon will produce.”

Impressively, Sui-sponsored hackathons have proven to be fertile grounds for innovation, with projects like Scallop and Navi Protocol originating as hackathon entries and evolving into successful businesses on the Sui network.

With generous support from sponsors like dWallet Labs, Elixir Capital, and MoveBit, the hackathon boasts substantial rewards, including $30,000 for first place, $15,000 for second, and $7,500 for two runner-ups in each category. Additionally, university and community awards and separate bounties from Sui ecosystem projects further sweeten the pot, potentially exceeding $100,000 for standout teams.

With the increased funding, Sui Overflow participants are now eligible for accelerated Sui Foundation Grant Funding, along with other benefits such as audits and credits to facilitate the successful launch of their projects post-hackathon.

Greg Siourounis, Managing Director of the Sui Foundation, commented, saying, “The homegrown projects that spring from developer meetups and hackathons like Sui Overflow are an essential part of the lifeblood that will sustain the Sui ecosystem into the future.”

Nonetheless, registration for Sui Overflow is open from April 21 to May 31, with Virtual Demo Day scheduled for June 15 and winners announced in late June 2024. Developers can register on the Sui Overflow portal and stay updated by joining the Overflow Discord Server.

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