Supabase is hosting an async hackathon as part of Launch Week 8, where developers can build new projects using Supabase within a 10-day timeframe. The event starts on Friday, August 4th, and the deadline for submissions is Sunday, August 14th. Participants can work individually or in teams of up to five people, and can submit their projects through a designated form. A panel of judges will evaluate the entries based on creativity, functionality, visual appeal, technical impressiveness, and use of Supabase features. The winners will receive prizes, including limited edition swag and recognition in the Supabase Hall of Fame. The event aims to encourage innovation and collaboration among developers, with resources and support provided by the Supabase team through their Discord server and community channels.