Somnia and DreamDEX host $5,000 Event Contracts hackathon for builders
Somnia Network and DreamDEX are hosting an Event Contracts Hackathon with a $5,000 prize pool. The two-week competition, listed on DoraHacks, invites builders to create new event-contract applications. The @SomniaDevs account will share technical breakdowns, tutorials, and resources for participants throughout the event. Both partners aim to accelerate adoption of event contracts among Web3 developers by lowering the barrier to experimentation.
DeFi platforms are racing to capture prediction-market developers before CFTC-registered venues can match their pace. Somnia and DreamDEX's hackathon offers a two-week sprint with prizes and live support, luring builders who would face months of regulatory review on Kalshi or Polymarket. The $5,000 pool is modest next to Gate's $3 million grant program, but the speed and hands-on format matters more than cash for developers choosing where to build first.
Traders who form habits on non-custodial platforms may never migrate to regulated venues, even when those venues list similar products later. Somnia now competes directly with Gate for builder mindshare, while CFTC exchanges must prove their compliance advantage justifies the wait or risk losing developer talent permanently on-chain.
DreamDEX now joins Gate in running builder-targeted programs for on-chain event contract development, splitting the DeFi infrastructure race between two grant-backed platforms as regulated venues lag on speed.