[FIP - 218] Fraxbuild Hackathon Funding

*Dates are TBD

Author

DeFi Dave

Summary

Authorize $57.5k worth of FXS towards Fraxbuild, the first ever official Frax hackathon hosted by Dorahacks and powered by Flywheel DeFi

Background

DoraHacks is a global hackathon organizer and one of the world's most active multi-chain Web3 developer communities. As a leader in the global hacker movement, Dora provides crypto-native toolkits to help developers around the world raise funding and build. To date, 30+ major blockchain ecosystems have already adopted Dora's infrastructure (hackerlink.io / dorafactory.org) for quadratic funding, community contribution, hackathon, bounty distribution, and governance of their developer communities. By far, 2200 projects in the DoraHacks community have received over $20 million in grants and contributions from supporters worldwide.

In over two years since launch, Frax has been able to establish themselves as one of the protocols teams in all of DeFi. Although the core team only counts in the single digits, they have been able to propagate an ecosystem of stablecoins and subprotocols. The question remains though, if we want Frax to reach the heights comparable to Ethereum and beyond, how can we cultivate a community to build on it?

Fraxbuild is the first official hackathon endorsed by Frax Finance. The event will be online and hackers will have 50 days to submit their applications. The goal of this hackathon is to increase dev awareness of building on Frax, promote the creation of products and primitives that complement the Frax ecosystem of stablecoins and primitives, as well as educate developers about how they can integrate Frax into their protocols.

Utilizing its platform, Flywheel DeFi will help organize and spread awareness about the event via

• Acting as the liaison between Dorahacks and the Frax Core Team
• Promoting the hackathon on our social media platforms
  • Placements in Flywheel content such as Flywheel, Frax Check, and Frax in Review throughout the duration of the event
  • Announcements on Social Media
• Organizing the hackathon itself and supporting hackers and judges when possible

Proposal Details

We propose $57.5k of FXS to be allocated towards Fraxbuild to be allocated as follows:

• $50k towards prizes
• $7.5k towards Flywheel for helping organize, and promote the event

PROPOSAL

• For: Authorize $57.5k of FXS towards Fraxbuild

• Against: Do nothing