Fast Facts
### TL;DR
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Hackathon Launch: The Pi Network’s Hackathon kicks off today, August 21, running until October 15, aimed at fostering the development of Pi-powered applications.
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Incentives: Participants can win a total of 160,000 Pi tokens, with prizes for first place set at 75,000 Pi, and guidelines emphasizing utility and community impact.
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Registration Open: Teams can register, provided all members complete KYC procedures, and are encouraged to utilize Pi Network tools like the Brainstorm App and Developer Portal.
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Market Impact: The announcement has positively influenced Pi’s token value, increasing by 2.5% amid broader market declines, currently priced at $0.36.
Crucial Day for Pioneers: August 21
Today marks an exciting milestone for the Pi Network. The much-anticipated Hackathon begins, opening doors for innovation within the community. This event will last nearly two months, wrapping up on October 15.
Over the weekend, CryptoPotato reported that the Hackathon aims to inspire participants to develop applications that boost the utility of the Pi token. Accordingly, the team encourages creators to utilize the new tools available on the platform, such as the Brainstorm App and the Developer Portal.
Moreover, teams can have unlimited members, but everyone must complete the network’s know-your-customer process to qualify for rewards. Rewards serve as a major draw. The top teams can compete for a total prize pool of 160,000 Pi tokens. Specifically, first place will earn 75,000 Pi, second place will secure 45,000, and third will take home 15,000.
Importantly, this initiative not only offers financial incentives but also fosters creativity and collaboration among users. By emphasizing real-world solutions, the Hackathon aligns with the community’s needs, enhancing the overall ecosystem.
Interestingly, the token’s value has risen by 2.5% as anticipation builds. As of now, Pi is priced at $0.36, reflecting a positive shift amidst broader market challenges.
Overall, the excitement surrounding today could drive significant advancements in tech within the Pi Network. The success of this Hackathon may lead to innovative applications that empower users and redefine the utility of the token.
For those ready to build, the stage is set. The countdown to innovation starts now.
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