Arbitrum, a prominent layer-2 scaling solution for Ethereum, has achieved significant progress in enriching its ecosystem by announcing a complete integration with Farcaster, the decentralized social networking protocol.
This development signifies that Arbitrum transactions are now fully supported on Farcaster, expanding the possibilities for developers and users in both communities. To celebrate this integration, “Frame It,” a buildathon aimed at fostering innovative developments within the ecosystem, has been launched.
The purpose of the “Frame It” buildathon is to encourage developers to create “Frames” – modular, interactive components that can be embedded within Farcaster’s social platform. With a substantial incentive of $500,000 in retroactive rewards, this initiative is expected to attract a wide range of developers.
The buildathon allows participants to leverage Arbitrum’s robust capabilities and Farcaster’s growing user base of over 350,000 accounts and 59 million casts, as reported by farcaster.network, to innovate and expand the utility of both platforms.
Details about the buildathon and its rewards structure are as follows:
Arbitrum has allocated a total of $500,000 to fund the development of Frames, with $450,000 specifically designated for the “Frame It” event, and an additional $50,000 reserved for in-person events such as Frameathons, meetups, and workshops.
The first event to take place will be a Frameathon in New York City, offering $20,000 in prizes to participants who develop the most innovative Frames. More information about this event will be announced in the near future.
Participants in “Frame It” will have the opportunity to showcase their Frames in casts by the main Arbitrum account on Warpcast, a platform designed to enhance visibility and interaction within the Farcaster community.
Developers are encouraged to be creative and explore various applications, ranging from NFT minters and token deployers to integrating existing DeFi apps into Frames. The aim is to discover new possibilities and create unique applications that have not been seen before.
To be eligible for the retroactive rewards, developers must ensure that their Frames have an on-chain component residing on the Arbitrum One network. Frames that provide tooling or infrastructure supporting Arbitrum, as well as Frames deployed on the Arbitrum Nova and Arbitrum Orbit chains, will also qualify. It is crucial that these Frames are original and do not replicate existing ones to maintain the uniqueness and innovation that the buildathon aims to promote.
Arbitrum has stated that it may take up to four weeks to review each Frame and determine its eligibility for the retroactive rewards. The amount awarded to each Frame will vary based on factors such as the on-chain and social impact of the Frame, as well as the remaining budget from the initial allocation. This approach ensures that rewards are distributed fairly and reflect the value that each Frame brings to the ecosystem.
This joint initiative by Arbitrum and Farcaster not only enhances the functionality and interactivity of both platforms but also sets the stage for future collaborations and innovations in the decentralized space.
