News

DMCC and Bybit Wrap Up MENA’s Largest Hackathon

Three Crypto and Web3 startups win $110,000 prize pool

By Inc.Arabia Staff
images header

The global crypto exchange Bybit has concluded MENA’s largest hackathon awarding $110,000 to three Web3 Projects in collaboration with Dubai Multi Commodities Centre (DMMC), as per a statement.[1]

The hackathon is the most recent achievement of the strategic partnership between DMCC and Bybit, which was announced in June with the aim of accelerating the widespread adoption of Web3 and cryptocurrency in Dubai.

The three winners are Evai , an evaluation solution platform for emerging asset classes like Crypto, DeFi, and NFTs. Combining peer-reviewed financial research with ML modeling, the platform boosts unbiased asset evaluation. Founded in 2019, it leads with evolving predictive capabilities, guided by UK-based professors overseeing daily simulations. Its ratings and signals aid portfolio management, Trading Bots, and APIs. 

The second winner is  Pravica, a peer-to-peer Web3.0 messaging and value transfer infrastructure. Their model ensures secure messaging across diverse blockchain networks. Pravica’s decentralized, open-source messaging platform prioritizes privacy and transparency, enabling trustworthy digital conversations. With cryptographic encryption and unique user authentication methods like DIDs and wallet keys, it emphasizes security and protected space.

The third winner is Timeswap, a decentralized lending and borrowing protocol in DeFi that allows permissionless lending and borrowing of any cryptocurrency asset.

Earlier this year, DMCC and Bybit partnered to provide AED 500,000 ($136,000) in funding to start-up cryptocurrency companies that planned to locate at DMCC Crypto Center.

Bybit joined the Crypto Centre as a listing partner as part of this partnership, offering specialized support to cryptocurrency companies looking to list their digital assets.

Founded in 2018, with more than 15 million users, Bybit, a cryptocurrency exchange based in Dubai, is among the most popular sites worldwide.

Last update:
Publish date: