Singapore, Singapore, Dec. 26, 2021 (GLOBE NEWSWIRE) -- Lasting for 3 months, the largest Web3 hackathon ever organized on Gitcoin: 2021 DAO Global Hackathon (hackforfreedom.org), has officially ended at the end of December 2021.

In this grand event, the RainbowDAO team won three awards in four different tracks and became the biggest winner of this competition. The RainbowDAO Protocol has also become one of the most popular projects in this competition.

The 2021 DAO Global Hackathon ended and the RainbowDAO team won three awards!

What is the DAO Global Hackathon?

The DAO Global Hackathon is a virtual event sponsored by leading DAO infrastructure providers to build Web3 governance tools. It was officially launched on October 25 and officially ended on December 17, 2021. It has also become the largest Web3 hackathon ever organized on Gitcoin, and it has also become the largest event in the DAO infrastructure industry in 2021.

This competition has received extensive support and sponsorship from various well-known projects and DAO organizations in the DAO field. There are 23 strategic partners in total. They are: Agora Space, BanklessDAO, BitDAO, Daedalus, DeepDAO, Gitcoin, Gnosis, Harmony, Human protocol, LAUNCHub, VENTURE DAO, Metagov, MintGate, Mirana, Near Protocol, openzeppelin, Polygon, POKTnetwork, radicle, Snapshot, Superfluid, Tally and UMA.

It is precisely because of the strong support of so many top projects and well-known DAO organizations that this DAO hackathon has become the most watched event in the DAO industry in 2021. It has had a significant impact in the entire encryption world, and it also provides a new direction and cutting-edge solutions for the future development of the DAO infrastructure industry.

The DAO Global Hackathon is divided into four tracks, namely Multi-chain, Core DAO Tech, Finance & Operations and Community & NFTs. In the three-month competition, more than 1,000 hackers and technicians participated in the competition for a prize pool of 200,000 US dollars. In the end, a total of 12 winners were produced. Among them, the RainbowDAO team submitted a total of four projects, and finally three projects won awards, becoming the biggest winners in this DAO hackathon.

Among them, the multi-chain DAO factory project created by the RainbowDAO protocol won the championship in the Multi-chain track, the DAO NFT bank project won the second place in the NFT track, and the multi-signature committee project won the third place in the Core DAO Tech track. The projects submitted by the RainbowDAO team have received high praise from many judges in terms of code quality, UI design, and operation video demos. The RainbowDAO protocol has also become one of the final concerns of this competition.

What is RainbowDAO Protocol?

RainbowDAO Protocol is a multi-chain DAO infrastructure service protocol, focusing on the creation of web3 basic component. Anyone can create and manage their own DAO organization through RainbowDAO Protocol, including independent DAO,alliance DAO, parent DAO and child DAO. Any DAO can also create a management department within the DAO to achieve multi-level management of the organization.

There are two versions of RainbowDAO Protocol, Solidity version on EVM and Ink! version on WASM.The Solidity version is mainly deployed on Ethereum, BSC, Poygon, Avalanche, Fantom, and various L2 networks; the Ink! version is mainly deployed on the parallel chains on the Polkadot and Kusama relay chains, as well as other blockchains developed with the substrate framework.

What is Rainbowcity Foundation

Rainbowcity Foundation is a non-profit foundation initiated and founded by Mr. Kunyuan. Headquartered in Singapore, Asia.It mainly engages in the incubation and investment of the crypto ecosystem. Mr. Kunyuan himself is a loyal fan of Bitcoin and a believer of Satoshi Nakamoto, dedicated to the spread of Satoshi Nakamoto's decentralized ideas.

He once put forward the concept of "Bit Civilization" for the first time in the world in July 2021 at the Bitcointalk Forum established by Satoshi Nakamoto , and wrote more than 60 articles to popularize the idea of Bitcoin,hoping to promote the development of the encryption industry worldwide and practice the true Bitcoin spirit.

Mr. Kunyuan has a rich experience in the crypto world. He was once the highest community leader of FCoin, the most influential community exchange in the Chinese world. In November 2018, in a referendum on the FCoin exchange, Mr. Kunyuan was elected as the first community committee member, and was appointed as the vice chairman of the community committee to fully preside over the work of the FCoin community.

In the second half of 2018 and the first half of 2019, Mr. Kunyuan cooperated with FCoin founder Mr. Zhang Jian to lead the FCoin community to achieve a comprehensive revival, making FCoin Exchange once again become one of the world's largest exchanges in the first half of 2019.

However, because many of Mr. Kunyuan's ideas could not be effectively implemented in the FCoin community, he chose to resign in June 2019 and began preparations for the Rainbowcity project. To some extent, Rainbowcity is a continuation of FCoin's community-based thinking, and it is also a continuing exploration of the true Satoshi Nakamoto spirit.

Mr. Kunyuan believes that in the crypto world, human civilization will have an unprecedented super economy in the future. It is constructed in the form of a decentralized protocol, which puts different and decentralized economic behaviors into a unified economy, and truly becomes the infrastructure of human civilization in the future. The Rainbowcity Foundation was established under this background.

The Rainbowcity Foundation plans to invest in 7 major areas in the next ten years, including Rainbow DeFi, Rainbow Investment, Rainbow Culture, Rainbow Network, Rainbow Industry, Rainbow Education and Rainbow R&D. Strive to become a super economy with a market value of one trillion US dollars. The RainbowDAO Protocol is the first project launched by the Rainbowcity Foundation to build the infrastructure of the DAO ecosystem and contribute our wisdom and strength to the development of the global DAO career.

Social media of RainbowDAO Protocol:

Twitter: https://twitter.com/RainbowcityDAO

Discord https://discord.gg/vbnvFEeYRr

Telegram(en): https://t.me/RainbowDAO

CompanyRainbowcity Foundation Ltd

Contact Person:Jim

Email:RainbowcityDAO@gmail.com

Website:http://www.rainbowdao.io

Telephone:+852-57050497(Only receive SMS messages)

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The 2021 DAO Global Hackathon ended and the RainbowDAO team won three awards! - Benzinga - Benzinga