Vancouver, British Columbia – iMining Technologies Inc. (TSXV: IMIN) (the “Company” or “iMining“), a blockchain infrastructure company, is sponsoring an iMIN DeFi challenge aimed at driving DeFi innovation on the Ethereum Protocol.
BlockHack is a 5-day hackathon which kicks off on November 8th in Toronto and will run through November 12th, with a conference being organized for November 13th where all the teams will present their ideas. Developers will take on challenges in multiple categories and results will be announced on Nov 14th. The winners of the hackathon will also get to pitch their projects at the BitAngels Investment event on Nov 18th.
As one of the gold sponsors for the upcoming hackathon, iMining is focusing its challenge on the DeFi category. For the challenge, developers will be tasked with creating an innovative protocol for a DEX platform with the use of a side chain to solve for high gas fees on the Ethereum network.
“As the first company to build an institutional platform for Ethereum 2.0 Staking, we have been huge supporters of the DeFi framework since day one,” said Khurram Shroff, Chairman & CEO of iMining. “With this challenge, we’re hoping to push developers to explore what is possible on the Ethereum blockchain and possibly find a new and scalable protocol that can complement the main Ethereum Ecosystem in the future,” he said.
The iMIN DeFi challenge offers Ethereum, Solidity and Blockchain developers an early opportunity to build the Ecosystem and potentially get additional acceleration for their project from iMining. As the sponsor, iMining has the privilege to choose the winning team and will be on the panel of notable judges, which also includes executives from Shopify, MMH Blockchain Group and BitAngels.
“iMining is the first publicly traded DeFi ecosystem and blockchain infrastructure company and one of the first to stake on the Ethereum2.0 Genesis Launch which continues to be one of the strongest DeFi use cases,” said Dwain Pereira, CTO at iMining.
“We are very happy to have iMining as a sponsor of this major event and look forward to welcoming iMining to the Bitcoin Bay group as they prepare to connect to the ever-expanding blockchain ecosystem,” said Allwyn D’Souza, Founder of Bitcoin Bay.
About Bitcoin Bay
Bitcoin Bay is a Blockchain and crypto solutions company, comprised of Blockchain experts who specialize in consulting, product development, smart contract application development, education, and community engagement. They have been active since 2013 and have grown their network to over 4,000 members worldwide, including business analysts, developers, designers, investors, consultants and entrepreneurs through meetups, panels, and hackathons.
About iMining Technologies Inc.
With diverse blockchain investment and infrastructure solutions, iMining is a leader in accelerating the growth of value creating DeFi opportunities for the enterprise market. The company’s operations include secure and sustainable cryptocurrency payments, staking, mining and digital asset investment designed for the scale and compliance requirements of institutional clients. iMining is committed to building strong global blockchain ecosystems and supporting inclusive access to digital tools and technologies.
ON BEHALF OF THE BOARD
Signed “Khurram Shroff”
Khurram Shroff, President & CEO
FOR FURTHER INFORMATION, please contact:
iMining Corporate Offices:
Saleem Moosa, Director
Telephone: 1-604-602-4935 · Facsimile: 1-604-602-4936
Toll Free: 1-866-602-4935
Evan Eadie, Corporate Development
Telephone: (604) 602-4935 ext. 203
Toll Free: 1-866-602-4935
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This news release contains certain forward-looking statements, which relate to future events or future performance, and reflect management’s current expectations and assumptions, and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of activities, future cryptocurrency prices, operating risks, and other risks in the cryptocurrency industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.