Bitcoin (BTC) Startup Lab announced the second edition of its Bitcoin Olympics Hackathon, where innovators stand to win over $100,000.

The competition will pit several contestants pitching their ideas for the Bitcoin DeFi and Ordinals movement. It would provide a chance for the next generation of ideas that will transform the Bitcoin economy to emerge.

Participating teams in the competition must submit a 3-minute video pitching their team, the problem they are solving, the solution, and how it will benefit users and address a pain point within the crypto community. Participants must register between August 9 and September 17.

Albert Liang, Bitcoin Startup Lab CEO, told CryptoSlate that the event “is to support, reward, and celebrate the innovative spirit of founders and …