Torram, the team behind Bitcoin's first complete middleware infrastructure, has announced the launch of a developer challenge for DeFi that offers substantial prizes for creating Bitcoin L1 applications.
Developer Challenge: Participation Details
From July 1 to July 30, the first phase of the competition will reward the first 10 dApps deployed on Torram with 200,000 tokens each. The second phase, running from August 1 to October 31, will award 1 million tokens each to the top three dApps by usage. Eligible categories include stablecoins, decentralized exchanges, lending, and institutional Bitcoin applications.
Technological Innovations of the Torram Network
With the launch of Torram Testnet V2.0, the network now offers programmability and a new token standard natively on Bitcoin. Block times can be as fast as 60 seconds, enabling application development without the use of bridges or Layer 2 solutions.
About the Team and Partners
Torram is backed by several investment firms, including Draper Associates and Blockchain Founders Fund. Led by Lee Raj and Vakeesan Mahalingam, the development team aims to significantly enhance Bitcoin's functionality and make it more developer-friendly.
With the launch of the developer challenge, Torram aims to encourage the creation of innovative applications on Bitcoin and showcase the capabilities of its new network infrastructure.
