@proximity_social.near [Posted on DevHub](/devgovgigs.near/widget/Post?id=2779) ## Solution: Proposal for Bounty Sponsorship at 5 ETH Global Hackathons (2024) ###### Requested amount: 25000 USDC ###### Requested sponsor: @neardevdao.near **1. Event Introduction** The ETH Global Hackathons are a series of global hackathons organized by the Ethereum Foundation, gathering several hundred to a thousand hackers at each event. These hackathons provide a platform for developers to collaborate, learn, and build innovative solutions on the Ethereum blockchain. In 2023, Proximity Labs and DevHub cooperated to sponsor 40K worth of bounties across 4 ETH Global events (Waterloo, Paris, NYC, and Istanbul). Last year was successful in terms of raising awareness of BOS in the Ethereum developer community, generating high-quality BOS components for EVM daps, and creating a pool of BOS devs from these events. We are looking to replicate these efforts in 2024 and even expand, given the increasing ETH alignment of the NEAR tech stack with the NEAR DA, fast finality layer, and the general direction of chain abstraction enabled by account aggregation and BOS. ***Proximity has already paid the ETH Global organization upfront for the invoice of 50K USDC. The requested funding of 25K USDC is a reimbursement from DevHub to cover DevHub’s share of the bounty rewards.*** **2. Organizer Introduction** Proximity is a research and development firm supporting the NEAR DeFi ecosystem through investments, developer support, open-source software, and advisory services. The Proximity team consists of former members of the NEAR Foundation, Binance, Consensys, Facebook, and more. It has advised numerous DeFi projects contributing to both NEAR and Aurora’s recent success. https://proximity.dev **3. Event Impact** The sponsorship of the ETH Global Hackathons by NEAR will have a significant impact on the NEAR ecosystem and the broader Ethereum developer community. The event will: - Educate Ethereum developers and communities on NEAR’s latest tech offerings to scale Ethereum and further accelerate cross-chain transactions. This includes but is not limited to, the BOS (Blockchain Operating System), NEAR DA, account aggregation, and the fast finality layer. - Produce code relating to the tech listed above, thereby bootstrapping the BOS/NEAR DA/account aggregation/fast finality layer ecosystem in its early stages - Assist the product iteration process by having hackers trial the product and share feedback - Funnel a pool of EVM devs capable of utilizing the NEAR tech stack **4. Key Performance Indicators (KPIs)** Based on last year’s data, we will aim to: - consistently achieve a 2-4% turnout rate for the NEAR bounties at each ETHGlobal event (= total number of submissions for the NEAR track / total number of hackers x 100) - generate 1-2 quality submissions per event (i.e. either the submission is worth using to showcase the aforementioned products or is innovative enough to push the product development forward) **5. Evaluation Factors** The success of the hackathons will be evaluated based on the following factors: - Achievement of KPIs mentioned above. - Proper utilization of the allocated funds, ensuring they are used as intended for the sponsorship and bounty rewards. - Effective collaboration between Proximity Labs, DevHub, Pagoda, and the NEAR Foundation in executing the sponsorship and delivering the expected outcomes. **6. Funding Request** We kindly request a sponsorship of 25,000 USDC from DevHub to cover half of the bounty sponsorship for 5 ETH Global hackathons (in total, 50K USDC; 10K per hackathon). The NEAR Foundation has already covered the general sponsorship costs; all that remains is for the bounty rewards to be covered by DevHub and Proximity. The 5 ETH Global hackathons in question are ETH Global London, Brussels, Singapore, SF, and Bangkok. The bounty for each event may differ depending on the priority and strategy at the time, which will be led by the NEAR Foundation. Proximity has already paid the ETH Global organization upfront for the invoice of 50K USDC. The requested funding of 25K USDC is a reimbursement from DevHub to cover DevHub’s share of the bounty rewards. **7. Additional Information** To support our proposal, please find additional details and relevant links below: - Link to the ETH Global website: https://ethglobal.com - NEAR’s bounty at ETHGlobal in 2023: 1) https://ethglobal.com/events/newyork2023/prizes#near-protocol , 2) https://ethglobal.com/events/waterloo2023/prizes#near-protocol , 3) https://ethglobal.com/events/paris2023/prizes#near-protocol , 4) https://ethglobal.com/events/istanbul/prizes#near-protocol - Link to last year's bounty sponsorship proposal: https://near.social/devhub.near/widget/app?page=post&id=863