Evmos Momentum Hackathon

On July 18th, the ecosystem dwellers witnessed the start of the Evmos Momentum Hackathon that will last till August 31st. It is the first Evmos event with this number of participants, prize budget, and partners. Web3Scholarship is leading the hackathon to build the Evmos Ecosystem. We at Citizen Cosmos, being Evmos validators, naturally follow each step of the hackathon and decided to share helpful information with you!

The purpose of the Hackathon is to seed and support the development of the Evmos ecosystem. The total prize pool is $500,000, split between the grand prize, track prizes, and EVM migration awards. Additional funding opportunities are available from Huobi Incubators and partners.

The Hackathon includes five prize categories:

Infrastructure. The prize subject for this category can be anything that contributes to developing tools and frameworks for cross-compatibility chains and provides a base and supports for applications to evolve. The winner will have to show the world which way the ecosystem should go!

DeFi. In this category, the participant should try and answer: What if a smart contract can eliminate loopholes and attacks by removing security vulnerabilities from its design? What has been introduced to the financial world that can leverage the Evmos blockchain? How can we put tokens and NFTs into the world of open, transparent, and decentralized transaction platforms? The desired winning project is a financial vehicle or service that is asynchronous and capable of expanding the reach of decentralized finance.

Metaverse, NFT & GameFi. The submission must incorporate a system or code framework that can lead to or support the construction of a metaverse. It can be the base of a metaverse or a story in the form of NFT, GameFi, etc. The metaverse should obtain a purpose and be expandable!

Web 3. This category aims for decentralized projects like DAO or SocialFi, which incorporate a form of split ownership within the community.

For the categories mentioned above, the prizes are as follows: 1st Prize — $50,000 + Demo Day Opportunity + Funding Opportunity 2nd Prize — $30,000 + Demo Day Opportunity + Funding Opportunity 3rd Prize — $20,000 + Demo Day Opportunity + Funding Opportunity

EVM Migration Award. This prize category is for the projects that will take the initiative to bring solid solutions to the Evmos ecosystem. The two winning projects will gain $10,000 each.

There is also the Grand Champion award for the submission, which the judging panel will deem to be the strongest of all submissions. The project should solve a real problem in the Evmos ecosystem, and the solution should be able to be utilized in a short amount of time and scaled up. The award recipient will receive $80,000! The Momentum Hackathon also includes a series of educational workshops on building and launching projects on Evmos. Moreover, each week there is AMA for Q&A sessions. The team of judges for the contest is also pretty impressive! Among the jury members of the Hackathon are Praneeth Srikanti, the investment partner of Ethereal Ventures; Rain&Coffee, the research analyst from Maven11 Capital; Jim Parillo, the general partner of Figment Capital; Liam, the business development manager from Evmos, and many more!

We highly encourage you to follow the Evmos Momentum Hackathon because it’s a grand event for both Evmos and the entire ecosystem that will contribute to the significant and ongoing process of building the decentralized community!

If you would like to support our mission in creating educational content and aligning the goals of different communities, please stake with us here:

• EVMOS
• ATOM
• BOOT

Join our community, to build a future where communication is decentralized. May the code be with you!

Staking as a way out

What's happening in the cryptocurrency market? We're in a deep bear market. Crypto is gradually decreasing. Some investors lose their patience, causing intense panic. Selling at the bottom of the market means fixing prices. Buying at the top of the market when the crypto is at its peak is by far not the most intelligent move.

The best strategy, in this case, is to buy more coins from fundamental projects such as Cosmos while the price is moderate. But what to do if you have already entered the crypto with all available funds? Learn more below.

Insider information.

Let's take a closer look at a couple of recent news:

1. According to Sam Bankman-Fried, exchanges do not have the liquidity they claim.

Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange, said that some interactions are already secretly insolvent.

Some small crypto exchanges are “quasi-insolvent.” So it was stated in an interview with Forbes by FTX founder Sam Bankman-Fried, although he did not specify which deals he was talking about. However, he noted that some companies have "gone too far."

“There are companies that have gone too far. It's impractical to support them because of a significant breach in the corporate account, regulatory issues, and because there isn't much business left to save."

2. Coinbase announced plans for expansion in the crypto market. They already have offices in Germany and the UK, and soon there will be offices in the Netherlands, Spain, Italy, and France.

Here is the statement from Coinbase:

“During market downturns, it can be tempting to shy away from international expansion. However, we first launched in the UK and EU during the bear market in 2015, and the move paid off when the recovery began a few years later. We will continue to expand globally and make everything possible to develop cryptoeconomics."

This news informs us that a stock market collapse is possible soon. As a result, many scam projects will close and disappear, as well as several crypto exchanges with fake liquidity.

But at the same time, the big players are planning to continue their expansion, hoping to capture market share as long as conditions are favorable.

The decline of the crypto markets may continue. Some players and market participants will not survive this fall.

At the same time, after such a substantial fall, there will be a reversal and rapid growth. The major players are preparing for this growth by opening additional European offices.

Conclusions

We have already mentioned that you should not store your coins in custodial wallets. Considering everything described above, keeping cash on exchanges is not reasonable. A collapse may happen in the crypto market, and it would be better if you found a haven for your coins. After that, only real projects will remain afloat, and all the scam projects will cease to exist.

Strategy

You may ask, where is this quiet and safe harbor to save the coins? Of course, cold non-custodial wallets are the obvious way out. However, there is a simpler and more efficient way - staking!

Staking using non-custodial wallets is the most reasonable strategy. Your coins will remain stored in your non-custodial wallet. When staking, your funds are not dead weight.

As usual, the bear market turns into a bull market rather quickly. Not everyone has time to jump into a rocket taking off. At this moment, it is essential to already be on board!

The results are simple:

• Do not sell coins at the bottom of the market. It will only bring you losses
• Get ready for a storm that will sink the scammers and keep your coins safe
• Securely stake coins using non-custodial staking and increase your funds
• Prepare for a sudden high-speed take-off, and don't leave the spaceship, so the rocket doesn't take off without you

If you would like to support our mission in creating educational content and aligning the goals of different communities, please stake with us here:

• EVMOS
• ATOM
• BOOT

Join our community, to build a future where communication is decentralized. May the code be with you!