Movement Labs, a key player in blockchain development utilizing the Move smart contract language, has announced the finalists of its highly anticipated web3 hackathon, the “Battle of Olympus.” The two-month event attracted a remarkable 2,100 project submissions from developers worldwide, all competing for a share of more than $2 million in prizes. This high level of engagement highlights the growing interest in Move-based blockchain technology and its potential to transform the decentralized application (dApp) ecosystem.

Movement Labs Catch Phrase

About Movement Labs

Movement Labs' blockchain, built using Move—a programming language designed for the secure and efficient execution of smart contracts—has been gaining significant traction. Recently, the company confirmed that its web3 projects are already active on its testnet, with a total value locked (TVL) of $160 million committed to its mainnet launch.

This substantial capital commitment reflects the high level of confidence in the blockchain’s future, as projects with strong financial backing are already engaging with the platform. Movement Labs has also secured $41.4 million in funding across two rounds, further emphasizing the potential of its technology and its ambitious plans for reshaping the blockchain space.

Movement Labs Funding

Projects Recognized Across Multiple Categories

The hackathon’s final round saw ten standout projects across six critical categories, showcasing innovative applications of the Move-based blockchain. One project, StakedMove, was recognized in the Titan category for creating a liquid staking token designed to enhance both user yields and network security on the Movement network.

DeFi, AI and SocialFI

In the DeFi category, two standout projects emerged. Gasyard developed a protocol optimizing gas fees for cross-network DeFi transactions, aiming to streamline user experiences. PicWe introduced omni-chain liquidity infrastructure, enabling seamless asset transfers across the ecosystem.

The AI category highlighted the potential of artificial intelligence within decentralized finance. RNDM, an AI-powered modular liquidity solution, was recognized for its potential to revolutionize automated market-making.

The SocialFi category saw Podium and Movewiffrens (MWFs) reimagining social media within a web3 context. Podium developed a web3 social audio platform fostering community-moderated discussions, while Movewiffrens created a decentralized social media platform that redefines online interactions through blockchain-based identity and content ownership.

NFTs, GameFi, and Infrastructure

In the NFTs and GameFi category, Seekers Alliance demonstrated the capabilities of Movement’s smart contracts with a skill-based trading card game utilizing advanced NFT mechanics. Simemes introduced a social gaming platform powered by memes, blending viral internet culture with blockchain gaming.

Two infrastructure projects were also recognized. Movide developed an advanced integrated development environment (IDE) designed for Move, accelerating blockchain development on the Movement network. Scaffold Move created a comprehensive toolkit aimed at simplifying dApp development, making it more accessible for developers entering the ecosystem.

Battle of Olympus Winners

Substantial Support for Finalists

The finalists in the Battle of Olympus hackathon will receive a variety of significant rewards to support their continued development. Each winning project will be eligible for grants of up to $100,000, courtesy of the Movement Foundation. Additionally, they will gain access to Movement Labs’ newly launched Move Collective accelerator program, along with networking opportunities with top-tier venture capital firms.

Finalists will also receive ongoing technical support and expert mentorship, as well as eligibility for Movement’s MoveDrop program. A select number of winners will be sponsored to attend Devcon 2024 in Thailand, with flights and accommodations covered by 280 Capital, a Movement Labs investor.

About Movement Labs

Movement Labs' Vision for the Future

The success of the Battle of Olympus hackathon signals a strong and growing interest in Move-based blockchains. According to Ali Shiekh, lead strategist at Movement Labs, the talent showcased at this event is a promising sign of the future. He stated, “I’m truly amazed by the caliber and talent of developers from around the world who competed in The Battle of Olympus. This event is just a glimpse of the Movement we’re building, and I’m incredibly proud of all the builders who took part.”

As Movement Labs progresses toward its mainnet launch, the innovative projects emerging from this hackathon will play a key role in strengthening the ecosystem and demonstrating the flexibility of its modular blockchain architecture. With substantial financial backing and a growing developer community, Movement Labs aims to lead the way in the next phase of blockchain innovation.

Movement is a Network of Modular Move Based Blockchains

Final Thoughts

The unveiling of the Battle of Olympus finalists by Movement Labs showcases the growing interest in Move-based blockchain technology. With substantial financial prizes and support, the hackathon not only fosters innovation but also strengthens the foundation of the Movement ecosystem ahead of its mainnet launch. This event has become a significant milestone in the evolution of decentralized applications, highlighting the future potential of Move-based technologies.

Source: GamesBeat