Solana and Serum right this moment introduced the winners from their lately held Solana X Serum DeFi Hackathon. Winners had been chosen from over 3,000 builders and 100 tasks.
All prime 9 successful groups will be capable of compete for an extra $200K prize in seed funding and obtain in depth sources from The Solana Basis, EcoSerum, and main enterprise capital companies.
The occasion introduced collectively crypto pioneers, widespread DeFi tasks, and builders from world wide for 2 weeks of hacking on Solana and Serum. They constructed scalable tasks together with decentralized exchanges, tooling, lending, and extra.
Judges of the hackathon included crew members from Solana, Chainlink, Sushi, Multicoin Capital, Circle, Parafi Capital, and CoinGecko.
“We’re thrilled with the standard and variety of tasks that had been deployed throughout only a 2-week hackathon. Solana was constructed to scale DeFi to international adoption, and this hackathon gave builders a chance to leverage the chain’s pace and composability. We’re trying ahead to additional supporting groups as DeFi quickly expands onto the Solana blockchain.”
– Anatoly Yakovenko, President of the Solana Basis
First Place Winners:
The 2 first-place winners every obtain $50,000 in USDC-SPL tokens.
Mango Markets: a decentralized, cross-margin buying and selling protocol with as much as 5x leverage, built-in with the Serum DEX on-chain order e book.
Customers of Mango Markets will solely should pay buying and selling charges. They are going to have the choice to contribute their SRM into the Mango Markets’ pool to scale back the Serum DEX charges for all customers of Mango Markets. Mango Markets gives increased speeds and decrease charges than what is on the market within the Ethereum ecosystem, because of Solana. Mango Markets can also be engaged on integrating perpetual futures onto the platform.
PsyOptions: a challenge that gives American-style choices on Solana, with SPL token help, leveraging Serum DEX for choices creation. PsyOptions has the flexibility to create by-product merchandise that at present don’t exist on-chain by integrating with margin buying and selling protocols like Mango Markets.
Because of Serum DEX and the excessive throughput and low value of Solana, liquidations on these protocols may be exact. This permits for environment friendly use of collateral and fewer danger of slippage, these options are at present not attainable on Ethereum.
Second Place Winners:
The three second-place winners every obtain $20,000 in USDC-SPL tokens.
Parrot: Parrot is an artificial debt protocol that bridges current yield-bearing tokens on Ethereum layer 1 into Solana’s DeFi ecosystem. LP holders in protocols like Sushi, Curve, and so on. can now use tokens as collateral instantly on Solana-based lending merchandise.
Synthetify: Synthetify is a decentralized protocol for artificial property, constructed on Solana. The system works equally to the Ethereum-based Synthetix protocol.
Solrise Finance: Solrise is a decentralized, p2p asset administration and buying and selling protocol that permits fund managers to create funding funds, deposit tokens, and select property to commerce. It additionally allows fund traders to trace fund efficiency and their earnings.
Third Place Winners:
The 4 third-place winners every obtain $10,000 in USDC-SPL tokens.
Serum Tax Time: The SerumTaxTime crew constructed a instrument to routinely sift by means of a person’s Serum DEX trades and current them through clear information analytics to find out tax funds.
DTF Protocol: DTF Protocol is a Solana-based system that allows customers to implement an asset administration technique during which others can make investments. A technique consists of a basket of SPL tokens encapsulated in a DTF program which is itself an SPL token. By supporting exterior integrations with exchanges, lending platforms, automated market makers, and asset protocols, DTFs allow any sort of technique together with these using.
Sushi Warrior: Sushi Warrior is a multiplayer tournament-style battle sport that features no-loss lotteries, just like PoolTogether, and leverages Solana, Arweave, Torus, USDC, and AAVE to carry composable DeFi to the world of gaming. Moreover, Torus, a preferred DeFi pockets, supplied up a $2,000 prize to the crew that finest built-in their pockets resolution within the challenge. After reviewing all the submissions with a Torus integration, Sushi Warrior once more was chosen as a winner.
Tenderize Me: Tenderize Me is a liquid staking resolution that allows customers to generate tenderSol, a price accruing staking by-product token, which permits them to enter or exit staking with no bonding and unbonding interval. The principle focus is to make staking extra environment friendly and simple for normal non-technical Solana neighborhood members. Having a tenderSol token that represents their staking place permits customers to make use of it once more, for instance as a collateral in different protocols.
Group Alternative Prize:
Shortly after all the tasks had been submitted, the Solana neighborhood voted for his or her favourite tasks. The Group Alternative Award quantities to $5,000 in USDC-SPL. Over 10,000 votes had been counted, and one challenge gained by a really slim margin…
COPE: COPE is a token challenge that allows merchants to rank their efficiency and consider different merchants’ efficiency in an index primarily based on their Cope rating. The rating creates a sign for different merchants seeking to enter new positions. The second section of the challenge is to implement an automatic funding product that customers can permission to commerce on their behalf primarily based on the COPE index. The rapid functionality permits for the combination of the Serum DEX, which supplies merchants the flexibility to deploy lively methods on CLOBs in accordance with guidelines produced in a sensible contract working on Solana.
Winners had been judged by the next classes:
2. Potential Influence
The highest 9 groups now have the chance to compete for an extra $200K prize in seed funding. This provides severe builders an opportunity at leaping full-time into the Solana ecosystem and obtain in depth sources from The Solana Basis, Challenge Serum, and main enterprise capital companies.