Judging Session 7 [MarketMake]

as the teams i'm gonna do a verbal reach out to the first team although everyone should be looking in the chat so we'll be calling the teams in the chat and you'll see that the first team is is uh team conjurer if you could just raise your hands stand by as i begin this session here okay looks like everyone's joined okay welcome to session seven of the market make hackathon judging um here's just a quick run through to remind everyone for this uh event which has lasted a little over three weeks of hacking 490 hackers from 58 countries 17 time zones over 120 projects have been submitted i'll run through real quick the format of today's judging session each project team will have four minute video that they'll play at the start so whoever from your team is um has that role they should put up to start their their video presentation right at the top and then four minutes for q a with the judges about every four teams will do a quick two to three minute break and then at the halfway mark um we'll do a longer break um judging we have five broad categories that the judges have all been briefed on there's technicality originality the practicality of your hack the ui ux and dx and the wow factor um and you know with all the uh not to be competition especially um in these interactions with the judges it's a great place to learn um there's no sense that the hacks have to be aimed at becoming a business you're here to get quality feedback and to just sort of work your idea in a sort of a public um space like to do a brief intro and thanks ahead of time for our judges uh we have nicolas santoni from len miscap patrick mccrory from pisa and mariano conte from great guy um thanks you guys for for doing this for us um we'll start the demos i will end my screen share and our first team conjurer you can start your share remember to share audio and we can begin hello this is our demo for conjure a platform that let anyone create any synthetic assets with any oracle and i will now start by playing our demo hello we are team conjurer and i'm excited to show you what we built for the market make hackathon my name is mario and i will guide you through our presentation and this demo so we built a decentralized app which lets you create synthetic assets using arbitrary oracles and which are collateralized using ease the main idea was to let users create arbitrary assets with any oracle types they want to and also to create basket zones which are basically brand new assets for example we allow users to create their very own basket currency to hedge against monetary policy risk by putting multiple currency pairs together so under the hood we are creating an esc 20 token which is the base for the newly minted synths we support different oracle types with templates for chain link and uniswap but also allowing the user to use custom oracles so anything they want to finally you have to provide ease as a collateral to mint the actual zooms so now let's jump right into the demo so we are now on the main page of our depth so in this example we are using market and make then we click on the create your control asset button this then takes us to the manage page where we can init the asset to be created let's look at the init process in detail uh here we have the ability to select from various asset types and create a single asset with various price feeds to hedge against one price feed going down and take the median price here or we can create a completely new asset which is basically the weighted average of all the prices we selected the creator can also select a minting fee up to 2.5 percent in this example we're going to create a basket asset which consists of the following we select 30 uh australian dollar usd forty percent the euro thirty percent a great british found your asset is now created and ready to use you can see a detailed screen uh where you have all the infos about the asset and links to the used rxls where you also can see the weights next step is for the end user on this screen you are able to take out loans on the created asset to open a new loan you can select the amount which you want to mean this brings up a 230 percent collateral ratio in our example so for example if we can take a loan we click here on open loan if the transaction went through you can see all your loans here on this tab you are able to deposit more ease as collateral also withdraw some eve and also to close the loan also we have added a global tab where you can see the total amount of circulating supply and the number of open loans in the system so in the background we are using nextjs as a framework for building the front end which is hosted on netlify for automatic build processing there are two contract factories one for the ec20 token and one for the collateral contract of the synth for the collateral contract we took main pieces from synthetics.oh and adopted them for our use case basically you are able to create your own synth with just two transactions and have a complete collateral system included so for future work we want to do the main deployments for the contracts and make the app generally available also we are already working to recreate new and more synthetic asset types also want to improve the ui and also provide a loan explorer to see all the different loans in the system so you can already check it out live directly on conjour.keychain.me i had a lot of fun working on this project for the market make hackathon and thank you very much for your time so thank you for watching our video and we know open for questions let's do it hi um i guess i'll start i think it's a very interesting um way that you that you do it i um i'm wondering if you got to the part where um you thought about liquidations on under collateralized loans so basically uh in the ui this is on our to-do list we still have to implement it so the user will be able to do this kind of transactions on the ui but on the back end or on the on the solidity contracts we already have them included so you have you can also do not only the withdrawal if and deposit more if for the collateral you can also repay the loan in order so you can liquidate loans if you are messing with the contracts directly cool thank you for the price oracles have you considered like using the uni swap price oracle i noticed it was just cheating to be impressed um maybe considering the problems that yeah so basically uh right now we have uh three rxe types included the first one is basically the normal chain link price feeds we are using in this case for the rinkyp test because we are not on mainnet yet uh the second is custom oracle so you can use any contract call you want to and the third one is we're using a custom uniswap oracle which is basically gives you the prices from the the weighted average price from uniswork but uh we haven't it live on rinkeby but it's available for their mainnet contracts then what are the gas calls associated with that like oh sorry if you go ahead and go first and i'll keep going of course as we ask for the gas costs were involved with playing fast assignment in a new asset um so you want to know the gas gas costs uh if you create the asset or you create the loan oh i guess just um um so for for opening alone i checked a check today it's around like uh 400k uh in gas uh and for the first question i i can't answer that in detail i haven't looked it in detail look in terms of assets and and and major use cases that you see in maybe different version down the line what what do you think it best suited for um so on the one hand uh if you don't just want to rely on a one oracle price feed like for example chain link you can you know hook up other price feeds for the same as a type like for example uh wptc uh and if one price goes down you can we take the median price so you can take up one or two like unlimited assets there and the second as a type we have available is uh where you can you know hatched against the monetary policy risk so for in in our example we put like euro uh australian dollar in great british pound together created you know a basket synth and this takes then the average price and for future work we're also uh taking a look in creating in the index indices uh where we want to take the market cap and also the square root market cap so you can do indexes here as well okay nice it seems pretty intuitive the way you know the users can interact would be obviously good to have a sort of like risk management tool in a sense right where you can see your your collateral and and how is uh how is evolving the depressed moving and have a quick way out or maybe a threshold thank you for the input that's definitely on our list so we want really to improve the ui and also the features for the end user good stuff that's awesome that puts us at time thanks conjure that was an awesome presentation thank you much appreciated good work um our next team is audits are dead if you can share your demo video we will begin hey guys uh really excited to show you what we've got today meet alice alice doesn't know much about crypto she's a chef and she's too busy to look into it she's heard good things about it from her brother bob but she still isn't convinced i think it needs to load or maybe can restart did we lose the video seems like it's loading or stopping maybe just started again is it not uh can you guys not see it uh i could we can see it's just stopped froze to me really i can see it forever yeah okay let me restart it yes just restart you may want to stop sharing and share again because uh for me it stopped at 30 minutes 40 seconds okay all right uh trying to share again screen this one remember to share audio yep all right meet alice alice doesn't know much about crypto she's a chef and she's too busy to look into it she's heard good things about it from her brother but she still isn't convinced yes she looks into defy and notices that it doesn't seem super safe then she finds out about auditors but learns that even audited protocols get hacked sometimes finally she finds insurance and she feels much better but the price of insurance is too high for her and they keep asking hard questions like when she'll take her money out after all this alice decides she isn't ready for defy and goes back to her bank she can't help but wonder why defy isn't insured like her bank is we asked ourselves the same question and decided d5 should be much easier so we set out to build a new kind of insurance protocol here's how it works our insurance pool covers protocols in the event of a hack in return protocols pay us a small fee on the other side stakers deposit funds into our insurance pool and in return they get one of the highest yields in defy and this is all made possible by our team of smart contract security experts who assess protocol risk while having their incentives aligned with stakers let's take a look at how this works as a new staker in our protocol let's say we want to deposit 10 000 die into the pool you can see a great yield that combines the best lending protocol rates with a constant stream of insurance fees and you can see that your money is only locked up for three days which is the time it takes to process insurance claims so let's stake in real time we can see what we're earning and we can start a withdrawal if we like or cancel one here we see any withdrawals that have passed the three-day lock-up now let's head to the allocations tab where you can see a breakdown of the protocols we're ensuring we think iron could use our help you can also see where the staking pool is being invested most of the pool is in ah v2 for now but we also wanted to show a superpower which is being able to vote in any protocol's governance with the pool for more on this i'll hand it over to everett who will walk you through how some of these pool strategies work i'm going to show three smart contract transactions so the first transaction is taking die in the insurance pool which is immediately deposited into the die strategy so 50 million die gets staked this is a state token that's got minted represents this die in the insurance pool this diet gets deposited into alpha so 50 million a die is minted the next transaction is redeeming adi for dye swapping it to ava depositing it into the strategy manager which he pushes it into the app strategy as you can see here a die is redeemed for die gets swapped via ease to the other token which is now in the after strategy so to get the native token price which is die we use chain link to convert the other price to usd with the half strategy we are able to vote on confidence proposals in other governance as you can see here we submitted a vote with our voting power which is the value of the alpha token in the aft strategy thanks so much for watching make sure to try it out for yourself and help us get people like alice into defy cool thanks guys love to hear your questions and comments sure i i can ask i can start because i saw uh already like in in the past weeks great progress uh right much more clear can you expand on the uh you know alignment between the stakers and actually you know in that slide where there's some you know people checking the contracts and yeah would be sort of internal right yeah can you can you can you elaborate a little bit on the roles and where those people come from and and how you incentivize them to do the right thing yeah perfect um so we basically have we're going to have an internal team like that works in our protocol that assesses smart contracts so basically smart contract experts are going to look at some of these protocols and sort of price the insurance and the way that we sort of align their incentives with our stakers is stakers it's very quantitative to know what makes them happy and what makes them sad they get happy when they get lots of insurance fees and they get sad if the pool gets hacked so all we have to do is align the incentive compensation for that internal team with you know make it a function of protocol fees and also a function of losses in the pool so that's kind of how we're thinking about aligning that internal team with the stakers you're going to put their money into the pool okay so it's a sort of like reverse auditing which is internal with a sort of ranking and a price of a risk and then you you you align the stake with that sort of risk that you have assess it correct exactly exactly so we don't think a lot of these people that want to put money into the pool are experts at assessing smart contract security so we want them to delegate their money to us who are the experts and then we can have our incentives aligned with that staking pool and we can make good decisions in terms of pricing protocol insurance yeah have two questions maybe this is my misunderstanding from the presentation but why why is it under collateralized i mean what do you mean by underplay club it sounds like it's collateralized that's one question the other one um i'll stick with that question for now why why is it under quantized oh and the second one was how do you what's the protocol for a claim on the insurance pool yeah it could be a store yeah so for the first question why is it under collateralized basically under collateralization means that the amount that we cover in terms of like total claims that could be paid out is higher than the amount that's in the actual pool and the reason that works is that's kind of that's a way that you know traditional insurance works and they under collateralize it like a hundred times we don't think that's probably right for defy but that is the way to make insurance the cheapest for the people who need it is to make sure that pool's under collateralized so that we can get paid more fees and kind of not have to deal with um you know perfect collateralization for everything because we don't think all these protocols are getting hacked at the same time for all of their tvl if that makes sense um and then can you repeat the second question sorry oh so let's just say someone does have a claim on the insurance poll like what's the process there yeah so we're still figuring that out and we're going to start out a little bit centralized in that area and move towards a decentralized um way to pay out those claims the problem is dealing with a um a protocol that was just hacked dealing with that on chain is a little bit tricky because you don't know exactly what the extent of the hack is and how compromised that protocol is so the claims process is going to be basically our team kind of working with that protocol to decide okay this is how much you lost you can show us the transactions and then we'll pay you that amount and basically if we don't if we don't pay out on these insurance claims like we're going to have you know 10 20 protocols as our customers those customers are going to see that we don't pay out and they're going to leave so it's kind of in our best interest to pay out so that you know we keep our customers and the protocol has value that's awesome guys tons of project tons of progress on that um thanks for doing the presentation uh much appreciated we'll uh we'll have to move on to our next team cool thanks guys we're really excited about it team claimable feel free to sure good luck guys feel free to share your video hey my name is dawson and i'm going to be showing you claimable claimable has exploded on the internet in the last 48 hours because i'm helping people claim both airdrops and plop tokens in one ui this has been used to claim over 50 000 already and it's only been launched for 36 hours so let's jump into it so this is a very simple ui and i want to show you right now how much this is exploding i have 20 notifications because crypto twitter is eating this up i've gotten 500 followers in the last 36 hours because what i'm doing here is helping people get free money so let's look at it here's claimable in claimable you have a very simple straightforward ui all you need to do here is paste in or type in your address or ens domain and boom free money right here is a uni airdrop worth between seven and eight grand we have a one inch air drop here again you can just click click click and go claim this is it as mentioned this is a one inch air drop three grand right here is an eth2 genesis po-op let's take a look at these so here we are we can claim the pop in here just paste in the address here's one inch loading loading loading but again you're going to be able to claim when that's done let's go and jump into another address boom look at all of these now we've got one inch right here unit swap curve token claim right here again who knows how much that's worth you can click and check three really cool pull up tokens proof of gucci that's being early in on wi-fi another wi-fi token here cover protocol and especially on po-ops even on the pop website you have to actually go into each and every one individually in order to claim so for pull-ups alone this is an incredible tool but it's way more than just props we're helping people find thousands of dollars they didn't know they have let's say i'm someone famous in the eighth scene what if i am austin griffith austin griffith can pays in his his ens domain name here and boom three claimable airdrops and my favorite pop total half wrecked that's for being part of the hack where half of the money was sent back by the hacker afterwards so i just think that this is a really cool tool to help people be able to find the free money they have and claim it did you see how long that took just now to search for half react searching on the claimable website itself is near instant boom so again even for claiming plops this is a better tool but it's so much more than that and happy to announce that you can actually subscribe now as well to future airdrops so subscribe if you want to find out when new air drops are available for you again these are air drops that you have to go claim and in the in 2020 alone if you were to have been an active member in d5 you would have earned over 20 000 usd in air drops so check out claimable today at claimable.

versel.app let me know what you think and hop into twitter send me some dms if you want to extend this or add on other airdrops i'm happy to do partnerships and if you're an early adopter here there will be something landing soon if you sign up with your ens domain or your address here so consider checking it out thank you for your time all right that was cool let's open it up for questions i i i really like the claimable i actually used it uh yesterday and and it did find me a few things that i had missed uh so so yeah kudos for that um i'm wondering if you're already thinking uh you know how you can uh make money from this or if that's not in your roadmap yet a super question mariano and thanks for trying it out i'm really happy like every time someone says they got something from it that's the goal um and you know when you when you do something like this you think maybe you could help one person but of course as mentioned i've been really pleased with the response and yes i have a that email sign up actually i have over a thousand people on the list already and in addition to as i mentioned giving something for free i do plan on monetizing the subscription-based service i think there's a lot of opportunity there for both new airdrops but potentially also recommendations what could be creating air drops soon you know that's the thing that a lot of us are trying to i mean if you're really into air drops it's the type of thing you kind of think ahead on maybe maybe you should try using one inch or maybe you should try using like these other things before they have their own tokens i want to be an example that obviously already launched now yeah i just tried it and it worked so i'm really happy tells me there's some uni tokens on that address i've been used for a while so yeah i also like the little paper thing that falls down when it finds you something that's really cute i don't really have any questions it's very simple project i don't think there's any it seems quite obvious anything i'd ask so i think yeah i had a similar uh feedback uh to to mariana i didn't know if we could ask something like that but since maria did i'm gonna double down on that and maybe like what about uh like showing that there are some rewards but they're actually uh not visible in a sense and you can say look i'll take five percent of it or uh you can get actually a cat from from those like it everybody would be happy to to give you a share basically of of the claims that you would uh you would give them for free to aim because you found them out and and yes more than um you know the monetization which is as is a sort of like result of a business right like a more uh a pro you you called it a tool but maybe thinking like as a product we could have multiple extension multiple integration multiple partnership multiple source of you know monetizations in a sense so but good work very interesting thank you i appreciate the feedback on the business front as well um that is definitely an area i need to improve and shift my own mindset on you know i've kind of been the open source kind of person for so long that uh at first it was tricky to think of monetizing any of it but now at this point what you're saying about making certain drops being exclusive or maybe taking a cut on the way it's a thing i would consider while still it's really important to me to maintain true to the community so at the moment there's no logging i don't even know your addresses and also there's obviously no smart contracts in the middle at the moment and so obviously stepping in as a middleman there is would disrupt certain uh people's mindsets and ideas about this and it's it's kind of like purity as an idea true it's also very noble what you're doing right so it it's just a one of the way you can you can you can shift it from tool which is cool to a business basically i mean i just won't comment and make various but i find it exciting about the cryptocurrency space is that there could be an authority in between but as long as there's longer studio and you're publicly verifiable as in like you can't do anything that breaks the protocol i don't see why people would not like that thanks for that input i definitely think this is this is worth experimenting on and obviously i've been thinking on in a total of like 12 hours because i didn't expect this kind of response so all of your critiques and suggestions definitely i'm taking to heart and you'll see something you'll see movement on this soon it's not one of the projects that gets stopped afterwards i'm actually full time on it now as well so i'm very serious about the business approach that's awesome uh that puts us at time uh thank you very much for a great presentation there's a break coming up so if anybody wants to go to claimable in a few minutes all right our uh our next team is um is polytax you can start your demo video okay here we go taxes no one likes to talk about them but they are a fact of life the reality is we live in the physical world and that physical world is usually a country where we have to pay taxes governments are often behind the curve when it comes to technology but they move surprisingly fast when they sense that they're owed money the irs in the united states for example is already working with cryptocurrency exchanges like coinbase to make sure that they're able to capture the taxes that they are owed from cryptocurrency trading dfi's blockbuster year in 2020 means that it's only a matter of time before they turn their attention to d5 now i'm far from a tax lawyer but my understanding is that yes you do owe taxes on gains and defined the same way that you owe taxes on anything else and before you decide to chance it and say forget about it keep in mind that there are real consequences to not paying your taxes which includes substantial financial penalties in fact there are no statute of limitations for tax evasion and as we all know everything in the blockchain is forever so why take the risk you do what you can to report your taxes and who knows it's also a chance to see how well or poorly you've done as a trader if you have losses you might be able to deduct those all right so let's say that i've convinced you to pay your taxes you roll up your sleeves to try to figure out heads or tails from the defaulting and experimenting that you've been doing well i have bad news it's not like your bank or brokerage account where you can just download a csv file and it has all your transactions and that makes sense if you think about it the new york stock exchange isn't responsible for keeping your tax forms so why should uniswap or maker or ave keep track of that for you so what can you do well unless you've been meticulously keeping records all the right times it's not straightforward to just figure that out retroactively let me give you an example with ave let's say you deposited a thousand dollars worth of usdc on ave on june 10th of last year well in order to know the interest that you've earned in 2020 you need to know the liquidity index of january 1st 2021 at midnight and the liquidity index when you first made your deposit and even though avi provides historical reserve parameter snapshots there isn't one of those for those exact times and because the interest rate is dynamic you can only at best estimate the balance of the year end now imagine if you didn't do just one trade but went in and out of various pools at various times you definitely need software to help you match all those trades to figure out how much you owe enter polytax we're going to provide a network of sites to generate a simple gains and losses form you can feed into turbotax or give to your accountant so they can file your taxes for you now let's go to a demo the interface itself is super simple just enter your id and we do the rest for you so here you can see the gains and losses reported at the top and we'll provide a download button for that and below that your actual transactions which we use to get the data now let's go to another defy site called poly market which is a betting market same thing here you enter your wallet id and your gains and losses are summarized for easy tax reporting well it looks like i should scrap my dreams from becoming a professional trader with these returns well that's it it's nothing revolutionary like a new protocol but we think as d5 becomes more mainstream infrastructure like this is going to be increasingly important and as ben franklin once said in this world nothing is certain except death and taxes all right that is it and uh you guys have any feedback i'm definitely very interested in hearing what what everyone has to say look it uh let me open the floor it's i really like the forward looking and and i think that you know as humans we have these things that we we try to postpone what's needed right and and what we know we we have to face in the future so i like the forward looking um how do you see about the integration or are you like are you planning to be a stand-alone product and and and you have users coming basically to you or uh maybe you can be you you can have like a white label and and and have it like a service right yeah and and different protocols says look plug into it this and and you see what you've done here have you thought about that yeah so the honest answer is no we haven't really thought about it um i think right now it's just like a free tool for you to just kind of be able to see what your gains and losses are and sort of be able to just download a tax form that you can you know bring somewhere else and a lot of these features have not been built yet um so i think it's just to put it out there to see but i think that's a that's a great point like maybe you know it makes sense to like partner with an ernest and young or you know at least have like uh you know an offering that you can sell them enterprises and say hey you know you you guys do accounting you don't know how to get the forms but we'll make sure that uh you know you can use our software to get that and uh yeah i think one thing that made me think about this was you know i have to report my taxes coming up and like i have no real way to kind of get that information to send to you like my accountant so that's kind of why i like it uh how how far are you from and v1 nvp that would be usable on a on a very you know basic d5 protocol um so so the two that i showed right now um ave and poly tax i think they're probably about eighty percent done um you know i've tested them for like my own use cases and some you know some random addresses that i've found but i think it's going to be a lot of it is going to be you know what features have i not used that you need to still be incorporated and stuff like that but again i did it for myself so you know i need to get at least the ones that i'm interested in done sure thank you i um i i think it's an interesting it's an interesting project we uh like you say in the presentation we all have to pay our taxes so uh your user basis is pretty much universal i do have one recommendation about the the presentation itself um i would have liked to see 30 seconds of introduction and then three minutes and 30 seconds of the actual product and and it was the other way around right uh like we all know that taxes exist then we have to pay them so my recommendation would be to just quickly introduce it and then like go deep into you know showing us the product gotcha yeah that's a very fair point thank you yeah um just the other comment i guess that i learned at the end of the video not to trust you in my trading the returns are terrible um messages oh crap i might um but one of the highlight was um i think what you could do is if you hire a designer and give it a really nice user interface right now which drop you could probably work on that for like six months to a year and then to sell it to a company i'm sure one of i wouldn't even look at earnest in young houses look at the exchanges um i don't think they have very good tools for reporting d5 protocols yeah yeah that's definitely true yeah one thing i've noticed is that i feel like a lot of exchanges don't want to show you what your results are because probably you'll stop trading if they if you see them and so yeah it's definitely been one of my motivations i i do think they have some like regulatory uh responsibility to help people learn how to pay their tax so i think they have some obligations there that actually if they just bought the summer software from you they would satisfy gotcha cool all right that puts us at time thanks a ton for that presentation um thank you we're going to go to a short break now the three minute break judges you can break away make sure you mute your mics and just return in three minutes and we'll restart you all right we are back thank you everyone um we'll resume in three seconds [Music] all right um so our next team is ethertree feel free to share your video and begin to build the future of finance one needs to assemble a great team and together we created ethertree which is the project that we're submitting for the hackathon and in this video we're going to go through some of the judges criteria so the first one is technicality so the problem being addressed is the diversification illusion and this is when traditional assets see their correlation increase during market crashes thus removing the benefit of diversification when it is needed most and it's a complex issue that is identified using archimedean copulas but the best way to think of it is having a bunch of bodyguards that then run away when danger approaches when it comes to originality our solution was to securitize lapse risk which is negatively correlated to traditional assets and thus gives an investor's portfolio a real diversification benefit why because lapses will go up when the market crashes practicality now the project is functional we have got a smart contract we've got a front end and we've been using quite a bit of the sponsored technology usability in order to make lapse risk more accessible we have gamified it and there are two types of users planters and waters planters take high risk and can get higher returns whereas waters take low risk and get lower returns and to make the process easier to understand we have used a tree analogy and it goes something like this so when it comes to establishing a contract we refer to it as planting a seed when it comes to making payments we refer to this as watering the tree and when it comes to distributing ether to the users who haven't lapsed we refer to this as harvesting the fruit the wow factor with blockchain we can give everyone access to negatively correlated assets so that they can enjoy real diversification benefits so that their savings are protected during market crashes and we believe that this is a step in the right direction to solving the diversification illusion but also we have made a very interesting game because what are the optimal parameters for the planter if they're too greedy they're going to scare off the waters if they're too generous they're going to end up losing ether and this is because of the various payoff structures that occur when it comes to harvesting the fruit so ether tree has got a bit of a dual purpose on the one hand we're addressing the diversification illusion by securitizing a negatively correlated risk for better portfolio construction but on the same hand we're also creating a one verse mini-game where the optimal strategy isn't easy to determine and we believe that this will make it there for fun to play as players will try and beat it but enough of me talking about ether tree let us show you it in the demo videos so welcome to ether tree and as you can see we have one little tree in our forest and these are some of the stats behind it but we want to see what happens when we plant a tree so we plant a tree and we come in we input all the various parameters we click plant seed and then metamask is going to pop up and we're just going to confirm that we want to plant the seed and then when we come to the forest we can see there is our seed nicely planted in there so now we change our user from a planter to a water who can now come and after selecting the seed they can come and water it and interact with the metamask account and then once the transaction goes through we can see that the tree grows and once we get to the next payment date we can now start to water our tree and start adding ether into the account and it's going to cause the tree to keep growing and growing so we're just taking a little bit of time lapses so that we don't have to wait weeks until we get our tree where we can then harvest it and this way we will get a share of what is in the smart contract depending on what's happened with regards to laps okay good stuff i'll uh probably start just be annoying uh look one quick feedback is uh i really see you wanna gamify it and and give some you know straight answer to the judgment criteria but i would highly suggest to start with what you're building in one sentence because i i mean at least myself i'm still guessing at the end it seems like you you create a strategy and there are different participants that can get involved with the strategy and what you could do with these strategies but it's my guess i i i didn't hear like the protocol does abc and and there is e fg people that can interact doing those actions as an agent so that's my bare feedback it seems cool it seems doing kind of cool stuff but i would like to know what it is first so it's essentially it's a fund where users are coming together and they're making frequent payments if they lapse or forget to make a payment they get kicked out and at the end of the duration the players that are still in so they haven't missed a payment they then get a share of all the payments that have been made up to that date where we've made it a little bit more complicated is we have added in another player called the planter and the plants is the person who determines a lot of the parameters you know what is the duration what is the frequency how much should the payment amounts be so there is that one versus mini player style but at its core it's essentially kind of like a savings fund where people are putting money in but if you forget to make a payment you've been kicked out and the money that you've already been put in that then gets redistributed to the people who didn't miss out on any payments so you're just like saving money then in a sense it's like a big savings pot and then if i don't pop up like it's used for like yield protocols if you want to go farming and then you can all put money together yes so one of the things that we we've incorporated is that yes the money doesn't just sit idle badly in the smart contract it will go to one of the liquidity pools and make a little bit of of interest on that side as well um essentially yeah it's a savings thing so as long as you're disciplined and you're not lapsing you should get quite a nice return but if you do lapse and you do forget a payment then it's quite a harsh penalty as your money is then used to provide a return or the majority of the return for other players maybe a better way to describe it is that you know you have this big pot of money that you want to use for yield for me you know you're a farmer and you all agree to periodically top up the plant and grow the plant then you all agree to these frequent payments and if you don't stick to the plan to the payment plan then you get kicked out and the rest of the farmers get the money and you don't so it's like i mean i don't know i i'm really i'm so confused that but i guess i can see you you can force people to stick to a plan that top up your farm over time like stuck inside where does the where does the non-correlation um part that you mentioned in the presentation um come up so sorry you're asking why oh with the negative correlation so essentially what happens is most as most funds they try and have a diversification benefit by going equity and and bonds and then when we have a market crash like we had with covert how we had with oak recession is we see both of those assets tank at the same time and that's what a copula kind of shows it shows how correlation while it might be low in the good times it spikes in the in the bad times and so what you want is a negatively correlated asset that does the opposite and this will be lapse so the idea of being here is that when the market crashes a lot of users are going to need their money they're going to have to reallocate it to more urgent things which means they're going to then lapse in this game and the people who are able to to withhold that lapse and keep going they're going to see a big benefit coming in from the smart contract so it's kind of like the return that they're getting from the lapses is going to try to offset you know the crash that they've experienced with their equities and bonds can you do it like a ponzi scheme like formal 3d where the initial payments to the seat are small and the bigger payments are bigger maybe or something like that whereas like like the fomo 3d was like the last one in would get the reward of the other people that like if they lost and no one submitted to the pop after a certain time period it was gamified that way so look i mean there's there's lots of different variations and configurations that that we can have and when it was trying to decide you know what should this be we thought let's rather gamify those parameters and put them in the planters hands and yes i mean we could even include an option that maybe in a later version where the planter can determine and say that the payments have to be stepped up so today you're paying one each tomorrow you have to pay to eat and you know there's a bit of like an exponential curve of course ethically that that might catch a few players out um you know who maybe didn't understand that that type of growth pattern um and that's one of the things that we like with the blockchain is that it's transparent and it's voluntary and we believe that as long as you've got those two things in place then wealth redistribution isn't as unethical as it might be in say other type of funds awesome that that puts us at time thank you guys awesome presentation much appreciated um our next team is defy train by protect protocol if you guys can start your screen share we'll begin hi everybody i'm corbin i'm steven and we work on protect protocol which is a new risk management protocol for d5 but for the market make hackathon we build an application called defy train which makes it super easy to onboard new investors into the defy space so we were inspired by the recent wall street vet saga with gamestop and robin hood actually shutting off trading to all these different users and we wanted a super super easy way to show the power of d5 to these kind of existing investors and show them that you can't shut off trading on d5 right lending markets are always open on d5 and so we kind of wanted to an easy way to send an email or link to our friends to kind of show them the power of this defy space that we care so much about so the way that d5 the way that defy train works is if you're an existing defy user you buy a new defy user a 50 ticket to board the d5 train that 50 is then deposited into ave where it instantly starts accruing um earnings and yields uh so this user basically gets set up with their own kind of d5 bank account right from the get go and they receive an email and they're kind of already a defy user from the very start um for your work kind of onboarding a new user into the d5 space you actually get to keep 20 of the interest that's accruing from this defy ticket the new user gets 80 of all forward-looking interest and you get to keep 25 or excuse me 20 so if you on board more and more users into d5 through train your earnings grow kind of exponentially over time so the way the application works is very simple first need to approve the contract to be able to move usdc on behalf of you so we're going to confirm that with metamask and wait for that transaction to uh verify on the coven network you then enter in uh an email address for this new user so that they're going to get an email um that's and they're going to see the 50 it's been deposited into ave on their behalf and they're going to be able to see the interest that they're earning over time for this demo i'm actually using steven's email address so i'm actually buying a ticket to the d5 train and then sending it to steven's email address and he's going to show you what that looks like when this new potential defy user receives that in their inbox so congratulations you just onboarded a new user into d5 so stephen why don't you show them what they get perfect thanks corbin so from the perspective of a new default user here i get a ticket to join the d5 train and as we can see in the email we get a quick introduction on what default is for a user who might not know we let them know their phones have been deposited into ave they're already earning more interest in their bank and we've also set them up a wallet with a public and private key listed and from here we can go into our earnings and we'll see the default training earnings page and you can see the default trend has pulled into the station here and we can see your earnings ticking open ave and from here we give a quick explanation on how it works along with a quick guide and for newer users who might not be as familiar with e5 on the quick guide we give a quick overview of what devoid is because we all know it's really hard to explain to new users and we also gave him instructions on how to set up a metamask wallet along with showing some of our favorite protocols like ave and uni swap and that's all from us protect thanks very much thanks all bye i um i have a a couple of things and first it is interesting uh to try to get more more people into d5 i would say one try to not send the private key via email that uh yeah it's like a big no-no and the other thing is uh have you checked gas prices for when using aveo on mainnet my worry is that uh you know two transactions to uh deposit 50 usdc is probably gonna eat up either the whole thing in gas fees or or even more and i don't know if you've thought about maybe uh pooling those funds and you know depositing maybe once a day for multiple users or something of this sorts yeah thanks mariano um very two very good points and um two things that we've uh definitely been thinking about so on the the private key in the email obviously is uh you know generally a very very bad bad thing to do on our own boarding guide we actually explain how to set up a new metamask wallet and how you can also transfer your funds from this burner wallet that we've created on behalf of you to the new wallet right so you actually get fresh security when you're kind of like when a new user is becoming becoming an active user and actually becoming a you know an active participant via a metamouse model um so that's the first um for the second one yes so gas prices definitely hurt us here um you know steven and i wanted an easy product that we could send to our friends that work at banks and just have them kind of get into d5 right away gas is a huge barrier there which is why we actually encoded that interesting logic in the token where the center who's actually paying the gas earns 20 percent of that interest going forward right so you know assuming that my new user is going to keep their deposit in ave for a while i'll actually be accruing interest that will help cover the gas cost that i'm paying upfront to onboard that new user i think this would be one of the good examples for like the roll-ups where you know the user has like some funds on a robot provider i'm not going to name that needs to be independent and then as uh then you could pull the phones on the roll up and transform all the to uh aviv once a day or something so you're going to monetize that cost that'd be really cool because then you know actually setting this up but only that causes a fraction of the cost yeah i totally agree um one of the reasons we used to burn our wallets was that trade-off between usability and security um but especially roll-ups once they're more mature this uh it's a great case because it's a it's a low ticket amount and then they can move that to mainnet if they become a more active user totally agree um i mean other than that i uh i'm always happy to see more projects that uh you know focus on onboarding um new people to defy and uh i think i like the i really like the ui and um you know the the progression from you know having a savvy user invite the a non-savvy user to to this space so yeah congratulations i hope that you continue building on it thanks guys thanks for the great feedback yeah if we win a prize then we'll uh we'll use that those earnings to push domain yeah so appreciate it yeah thank yous thanks very much all right thanks guys uh that was great our next uh team is team malice yes uh please share and start your video okay sure all right i've created a simple application for users the volume is pretty low did you have you shared audio on the bottom um sorry let me double check let me stop sure yeah you have to stop here sure audio okay hi we created a simple application for users to able to spend and get seven percent cashback let's walk through how the application actually works so in step one peter runs a hot dog stand and decides to deploy a store from his mobile wallet peter deposits one hundred dollars worth of die into the store stake peter does not want to give a discount to attract customers peter will stake seventy dollars worth of die instead users will spend one thousand dollars worth of diet peter's business they will receive seventy dollars mdi which is rap die peter seventy dollars worth of dial would be locked as collateral peter needs the collateral laptop peter will accept seventy dollars worth of m die to unlock his collateral in scenario six alice is running straw b and is selling nfts she has one hundred dollars worth of collateral in her store users will spend seventy dollars worth of mdi at our store seventy dollars would remain as collateral and um thirty dollars would remain as collateral and seventy dollars added to our balance ins in step seven business is extremely bad for peter because of a hurricane alice decides to play seventy dollars worth of ties collateral relief to the open market at a rate at 30 percent peter makes a trade and loses 21 die and gains 49 to his balance alice will gain 21 to her balance and 70 dollars laptop as collateral and that's how the application is supposed to work in theory let's go to the application so this part of the ui is not finished yet this is where i would be able to filter for stores based on location and what type of store that suits my need and let's go so let's say i'm peter and i want to deploy a store this is the default store we don't have access to that so we need to deploy our own store this is currently running on robsten so there might be a slight time delay and this test version is using ether instead of die so i just deployed a store it should appear in a few seconds and there it is all right and i want to send let's say one ether to this store that i just deployed i just copied the address um so i'm going to send let me paste the store address and i am going to send one eath to that store and i just send one ether and just wait for confirmation that the eaters in the store should be there in a few seconds here it is so we have one ether in our store and let's take let's say 50 of that amount of ether so i'm gonna stake 50 of that amount of ether confirm so this is basically the general idea of it and once i have my stake um now i would be able to spend and is to make payments and what i the amount that i have staked would be lacked as collateral and so there it is there's our state now in our store and this is the general process of how this application um would actually work all right and that should be it hello warren we looked at this for you know i think at least half an hour every session in the past two weeks so i would not had anything uh a lot of progress um and a lot of more clarity but i'll i see there is so much thinking behind but i'll let the other judges ask you question and dig more on what you actually did okay yeah i thought as i'm unclear quite well and what's the book fluorescent is i go to the store i deposit one eighth i lock out 50 percent it's collateral right i say pandai i like collateral so um correction so this test version that i'm running on robsten right now it's using ether i'm gonna switch it over to die right so say for example you're selling you're selling nfts and this could work at any level even if you're not a business you could still deploy a store right and right normally you would want to give a discount on your goods and services to attract customers but you don't have to do that in this case right what you could do is um steak die right and based on the amount of diet that you have state right when users make a payment if there's amount if there's if there's enough stake to give seven percent of that users payment right what's gonna happen is um that amount of stake is going to be locked as collateral meaning you can't touch it right and the users will actually receive mdi right now mdi is the only thing that could be spent back to unlock your collateral right whenever you're ready in the future right mdi could be also be spent at any other store that anybody else deployed whether they're selling nfts whether it's a restaurant um whatever whatever it is right but as a store like i receive a payment and then it gets locked up so you receive your part of the payment right you receive your amount right and the amount that you have staked right that that portion that seven percent portion so you're going to receive the full amount that the user paid you with right and so the scenario let's say i spend a thousand dollars right you're gonna receive that thousand dollars right if you have seventy dollars worth of die stake right that's gonna be locked as collateral meaning you're still gonna receive your thousand dollars right and that collateral now right you can't touch it the only thing that could unlock it is if i if any user comes back in the future and spend m die to unlock it or if you decide to sell that collateral at a loss to a different store that's the only way it could be unlocked so the idea then is you come to my store you buy something you get back some mm die because you're a customer and it just encourages you to come back and buy something else so i can get my collateral back so it's not only your store so it's like anybody that deploys the store whether they're selling anything they're locked in whatever um um whatever type of store um or whatever you're selling whether it's just hot dogs or ice cream on the street right all you have to do is just um steak died right i spend i receive m die and the die that you stake is locked as collateral right and whenever or whatever cause there might be some unseen event where you might need that collateral right you could sell it or you could decide that hey i want to accept that mdi to unlock my collateral okay um i don't want to take up the time mariano do you have a question i um i have to say that i'm having a hard time understanding uh the project um like if you could summarize this in you know a couple of lines and would you say that you're building like a uh almost like an internal economy for for a set of uh businesses or how do you classify this so basically the main idea behind this right is for anybody within the within the crypto space right you're able to spend die right and receive cash back on that die without using uh a card service usually you would have to use a card service such as some debit card or whatever right and that requires you to trust that central service to put your die on to receive that cashback right in this case i'm able to spend die from my mobile wallet and still receive cash back peer-to-peer without actually trusting a central service to actually do that for me and that's some percent coming from the collateral that the merchants have locked up exactly exactly so the more merchants come on right and you as a merchant you would want to do this because you don't necessarily want to give a discount because there might be some scenario in the future where i gave the example where there's a hurricane right and peter can't do business you might need that collateral right and then in that case you're able to sell that collateral at a loss to another store right all right that uh that puts us in time thanks for putting that together uh good luck with the hack moving forward and uh appreciate it okay yeah i'll work i'm gonna work out our next team yeah i'm gonna try to uh look at the slide again because it is interesting the next theme is the creative platform okay this could start your share hey guys how's it going i just want to make sure we get screen there's a screen available everybody can see the screen i can't see yep okay cool let me just make sure i got the audio yeah [Music] okay [Music] uh [Music] do [Music] so [Music] hey it's g2 with the creative platform so i want to run over what we have inside of this app so far we have the crtv token contract that generates our tokens that feeds into the vendor contract which buys and sells our tokens acts like a vending machine we've got some obvi protocols in here we've got lending pool got staking we have governance and credit delegation then on the dashboard we check out lewis pierce's dashboard he's got a vending machine here this is the creator dashboard he's got a vending machine and swap tokens lewis has the ability to create uh liquidity pools and he's using one for tour he's got one for album a music video and features you can only get this uh these perks as you level up throughout the platform through certain metrics uh he has a list of tokens that he likes to keep up with and he's got his revenue here his revenue stream he's got nfts you can keep track of his tickets and his brand uh revenue this is a list of pools we've got uh for instance coca-cola nike samsung netflix if he was a uh writing for tv shows or writing for film uh you can put together a pilot or a trailer that would be where he would submit into this pool and uh so we have a list of all those different pools and when they pretty much get in so that's pretty much the creative platform and look forward to talking to you guys soon sure i i have two feedbacks one is that the beat made me realize i'm not gonna i mean i've not been partying for maybe or maybe twenty it's like that's the first feedback the second one part is um who are the participants here like just to make sure like who would come to the platform and who are the different agents involved in this sure so um so right now i have a i have a um so i've been in the music industry now for about 19 years of my life i've had big deals with interscope so i have a lot of you know i know everyone from jimmy iving to dr dre to timbaland so that's me um i got a lot of different friends that you know i've already kind of talked to briefly on it that own businesses for uh one of my close friends is a multi grammy winning songwriter um everyone from jlo to janet jackson but she has a new digital label platform for creatives she has access she just started last year but she has over 2 000 independent creators um at her disposal at the moment um i'm that's growing every day but uh we're looking to kind of onboard creatives from that aspect i also went to a creative school i went to full sail university in winter park florida and um i also have out outlets for that from the college aspect maybe college like juilliard or you know colleges like i've gone to where we can onboard creatives from there as well um so as far as the creative space um that part i feel like we have you know kind of taken care of from the initial on board um on the other side on the brand side i have some relationships with a few uh ceos like breitling uh watches is one of the uh people i've reached out to in regards to i don't care if i jump in quickly just just um i guess like for me it's more who are the asians in the protocols you have creatives you have users how are they interacting is like the users depositing to the creatives like what's that sort of abstract relationship sure so brands create a campaign brands need commercials they need advertising all that good stuff um so they create that campaign for whatever that is the creative comes uh they you know stake that initial liquidity into that pool the submissions come in from the creatives they stake their submissions via their tokens and now we got a whole bunch of sticking they could do as many submissions as they like and um there's a deadline obviously for that to end fans can stake into that liquidity pool to vote for the stakes for the sake of voting um it's basically some in a short form um american idol in real life they can follow their favorite artists keep up with them invest into their artists vote for their artists um and and all that comes together as well it's like you're paying towards your artist and there you lock up collateral earning interest on this correct the other thing is with the liquidity pools when you when you're submitting to a brand you're really just looking for that interest that interest that comes from that from that uh liquidity pool is going to whoever the winner is from that governance so um and then everyone can i mean i don't know about brands so to say so so to speak i'm not sure yet but the thought is everyone can get their money from that liquidity pool the winner gets the earnings from the interest and we keep it moving that way nobody feels like a loss and we keep going okay just getting pulled together as well yeah exactly um brands can stake into their look into uh creators liquidity pools there's metrics involved though so as you go through the process of of the platform uh you you have reputation based from uh reputation with the brands you have reputa you have fan engagement and you have platform engagement metrics and whatnot so as you level up throughout the the platform you would then unlock certain perks for instance having your own liquidity pool i want to do a tour all right um okay now i'm a level whatever and i can i can create a liquidity pool for my fans fans to stake into um and then um you know i can do a governance with that within that liquidity pool hey i want to do like 60 cities what cities should i go to let's vote you know what i'm saying like more interactivity into um you know getting your your creator to whatever level and it's not just music it's also um you know digital um art and i'm working on an nft session right section of it right now in east denver um and then also if you're writing movies or if you're writing t uh tv shows pilots right that goes to hulu or netflix all day they always need that type of stuff so um just thinking of it in a sense of you know directly to them no middlemen no labels no none of that just no managers nothing that's that's cool we usually tell people don't put so much music in the presentation but that worked thank you it was mine i created it oh awesome yeah so that's somewhat in a real world example too how that would work like me being a creator we need a commercial boom you know what i'm saying yeah yeah well cool that puts us at time um we're gonna do one more team before the break our next team is matic cross chain arbitrage opportunity graph if you could start your demo video yes hey guys can you see the chat yeah yeah it was super boring name so trent asked such as this nice name for cat so let's start hi uh i'd like to present cat cross chain options toolkit uh the opportunity i'd like to present through this uh tool is the high gas on html one now it's very difficult to do anything like even ill farming so many projects started incentivize a liquidity mining opportunity in other chains such as like matic and x-style and that shift of uh by crossing coins to different chain increase the arbitrage opportunities however currently it's very hard to visualize where these opportunities sit so this is what i'm trying to solve with my toolkit cross-chain arbitrage toolkit.ssh you can just play around but let me try to demo so what it's going to do is uh visualizing the historical token prices between maintenance and simulate profit margin at a different price points so let's see how it goes so if you click this you can see the list of tokens listed on quick swap which is one of the unisop clone in the matic side chain and sorted by the volume size so it has more liquidity there and so for example ghost token used for avegachi i start looking into the daily uh price average price of both unis unit swap and quick swap it's going to take a bit while yeah but what it's going to show is the price of the main and matic and it shows that there's a currently uh it's slightly cheaper in matic like for example minus three percent difference and you can also see the volume difference and all the stuff so let's try to see better opportunities easy token is you will see a 12 difference so mania is a lot cheaper so this is a chance to send some usdc to uh you you exchange usdc to easy on mainnet transit far to automatic and you change it back to usdc and if you go like something like thousand pound with two intervals and if you get oh by the way this one is a daily average but most of the arbitrage opportunity window is very slim so this is where uh you know getting the live q quotes with the different price points really shines so if you do get quotes it's getting a quote it actually checks the course from one inch and uh quicksort that so this one is interesting that so up until 500 if you transfer 500 watts of usdc you actually get 78 dollars but if you do more than that you actually lose more you lose money basically that's basically it and i just wanted to show you that like interview schematic and using graph for the top mapping and also uh i use our vegot g4 uh then to get the token address of ma usd mata which is the matic version of alves a ausdai that's it thank you hey makoto hey um so in this case you have so you have the app the arbitrage toolkit and it is showing like pricing opportunities right is this something that you could extend for example like already having usdc on both uh you know on mainnet automatic and on xdi and you know taking data from this and you know start making trades based on you know how much money you have in each and is this is this where you want to take this yeah so idea is like having usdc on both net and then this graph shows you know from both direction like ethereum dramatic and matic and mysterium so that yeah you can do it either direction but having said that when i was making it i think sati dollas made a bit of profit but now even crossing bridge and exchanging is more expensive so now i'm kinda thinking towards going between layer 2 like x die uh honey swap and quick swap or they basically uh honey swap and the quick swap have a similar volume about five six million liquidity but if you also go for the finance chain it's i think it's 20 million or some a pancake swap they have like 20 million and uh so i didn't create this time but like i think that natural opportunities are looking into something like a connect which does a layer to uh you know swapping and also the ethereum team announced the hop exchange which does the kind of identity between layer two so i think real opportunities like uh crossing between l2 but this i think basically it has nice thing is that everybody uses unison so all the tools i'm i'm building is i'm hoping easily adaptable i think there's another one honey harmony one they also have uh whatever whatever swap and how easy would it be to integrate for example with uh with loopering i don't know which i mean they have their own amm but it's probably not you know evm based but uh i mean in theory it should be easy now so there's two constraints like if he wants to have the like you know broader view you want to have the subgraph to draw the daily graph so that constraint which strengthens like x-di has it now didn't have it but uh they the team of the quick swap they they actually index by themselves so fast like some of the chains like finance chain they don't uh subgroups don't have it but i i learned that i can just index by myself so fast i do that and after that uh one thing it's good is that i don't really have to deploy my own smart contract it's just a matter of calling the function so if i want to do with blueprint if blueprint has any sort of api all i need is just get the quotes and the swap right so but i think low hanging fruit is going for uh evm one because i can just use most of the uni swap one but in theory i can do it anywhere it's just like you know sell and buy cool very interesting um yeah very interesting how far are you from uh say something usable for for for the for the users final users how what's the timeline so this visualize the part of the main and the test net uh is you know you can use it okay i already deployed it so you can play around to see the opportunity and if there's a big opportunity you can already do it manually but this is currently a visualizer so to to cross it and all that stuff you just have to do it manually actually doing as a bot uh i'm kind of hackathon driven guy so like there's a bunch of hackathons happening so like whenever there's a price or and then many chains have a price so uh yeah they i think buying themselves a hockey show this month so i might do it if they have some price and the thing is i don't have to do it for price because once i build it i just start using by myself got it all right all right that puts us at time thank you very much okay thank you guys um we're going to go into a 10-minute break now we'll come back at half past the hour i know what time zone everyone is in but at 2 30 eastern u.s in 10 minutes remind the judges you can turn off your mics and your cameras for this break um and just return in 10 minutes thanks everyone see you thanks um all right i'm realizing now that i think my screen was showing during the break sorry about that it wasn't anything crazy um all right i'll just take a minute till everybody's back standing by all right and we are back thanks everyone um our next team ready to present is dear flash loan protocol start your screen share and we'll begin hi everyone can i see the screen yep we can about the slides can you see the slide yes cool okay let's get started um so today i'm going to introduce a portable rebuild called deal protocol which is a permissionless flash loan marketplace we all know that flash loans are quite powerful it can be used in a lot of use cases however the current first loan is quite inefficient for several reasons one is that as you can see most assets and tokens are sitting users wallets without usage right now um because there's no uh those token holders are not willing to provide liquidity on uni swap because of this impermanent loss and besides of this there's no other like way to generate passive income for those tokens landing protocol like ave are limited for only a few small sets of mainstream tokens and that's why we introduced your flash long protocol our goal is to make flash long available for all tokens and there are four core features we want to achieve one is like uni swap it's a permission list to create any pool for any tokens second is low fee so that anyone can use the flash loan in practical usage that is there's no impermanent loss by providing liquidity on our protocol and lastly we can generate we can create like a generate passive income for all unused tokens so let me show you how we uh the product we built to achieve all those goals uh it's on coven so on our interface that we adopt from uni swap you can you can provide liquidity easily for example here you can provide like liquidity for uni right um by simply click and then confirm on the transaction you can if you you're waiting you can uh like also remove liquidity with the original your original uh token plus the fee generated by any flash long usage also like we have created a demo token here and then i can show you to create a new new new pool with this new token that's not existing on our pro protocol so here let's say we provide like 10 10 000 um 10 000 token in the pool after approve this token we can supply it quite straight forward let's wait a little bit okay um yeah now you can supply so when you supply this uh any developer who want to borrow this as a flashlight collateral they can do it now let me show you like as a developer how can you execute a flash long so we build a simple interface like uni swap again to so that they can execute so look i have my balance is a 5 ether how can i execute say a 100 ether flats long so simply put the amounts you want to borrow from the the the our pool and seconds uh you need to provide a smart contract that you write for the flashlight right so we i've prepared a demo one you can also add data here but it's optional now you are a if you are a developer yeah you can create this uh execute this lesson and that's done uh that's all very easy to better visualize the performance and the detail statistics information of our protocol we've also used the graph and modified from the unit swap info code base and and build this so that you can easily see that those ports we create liquidity volume and also like uh here we've add uh some demo token with execute f last long on ether we added liquidity on uni etc so quite straightforward uh so so that's it um comparing to other competitors so our fee is low we have unlimited choice like unit swap there's no impermanent loss like uni swap and so that is a guaranteed profitable at least you don't lose anything lastly it's permission list so here i'm not saying obvious not permissionless just listing a new asset or protocol is permissionless like uni swap you don't have to go to the governance and uh what's more we actually launched this protocol on minutes and providing the liquidity on minutes it's already uh go ongoing and we we're gonna introduce and uh announce this shortly and then yeah that's some information about me and thanks um i have a question so the smart contract that that you input for the flash loan does it have to conform to i think it's 3156 the eip standard uh for flashlights or how does that work oh so you don't you don't have to have that actually it's quite straightforward so it's like it's like a uni swap so each poor it's a token it's an erc20 token yeah so that's when you deposit provide liquidity you get a a d token or unit just like you need uni lp token right and then when you restore you burn that lp token d token and then you get a original uh token plus the fee and then list and we we extend from this smart contract to have a uh method called flash long and then that flash loan basically allows you to execute a flash loan as long as you're guaranteed to pay the original collateral plus fee yeah that's really runs into my question so in your example you hit the flash loan button and you know you send a transaction for a flash loan but what do i mean flash ones are only for single transactions aren't they like what are using the flash one for we're using it to trade in uni swap or i mean when you had flashlight like what are what what are you using the loon for oh so yeah like the probably is too quick but this address is actually a smart contract that's uh having logic about like doing up charge for example so underneath it requires borrow some flash loan so you can just provide this address and then yeah so all the logics in the contract not to say i want to do like i don't know the contract takes care of all the trading logic and when i had flushed them i'm just applying the heat that i need in order to execute the dye transfer exactly if you read the code here um quickly so yeah basically underneath it it caused a flash long and and execute the logic but it's quite dummy here we here we just call the flash long and then pay back uh pay back the necessary fee we don't do anything yeah yeah so i mean i have another question like and for me flashlights seemed like something used by bots that you would you'd write a script and use your flash when you find an opportunity does it make sense to use them at a user interface level oh yeah so so to be clarified we built this uh interface just to be easy to use for anyone who have existed a smart contract i need to execute manually if you have a boss yeah you should actually use our smart controller and call directly and we have a document to to to show the details yeah and besides of that you can come to this info page click on each pool you got a smart contract information and then you can browse those uh methods through the ether scan and then yeah just integrate it yeah i had uh you know i i saw it a couple of times uh last week something was impressed it's a strong use case but now that i see the full presentation and the full pitch um i would suggest you to give a uh you you give up a broad overview of all the possible things that it's you know you can do it but i would also suggest to take one direction and and build a product for one strong use case and build that sort of niche and grow from there otherwise it's a little bit scattered also for for like the users right i did many use cases or different things and you can use these there's that but when it's one simple idea it's better to focus on that and grow that mass and then move maybe to different things yeah thanks for the feedback for now yeah it's protocol that's uh just for the general purpose and eventually yeah we we need to demo in the specific use case thanks all right all right thank you very much yeah thank you your flash loan protocol our next uh project is um one inch synth if you can start your screen share and begin all right so for the hackathon i have uh deployed a emp contract from uma that allows you to mint synthetic uh u1 inch tokens uh using we as collateral so u1 inch will follow the price of a one inch usd so for example here in coin gecko this is the ratio and in unisoft is the ratio of the synthetic token so as you can see here i you need we and i've already um approved all these and i have also copied the addresses so you can see the balance of all my addresses so right now only have one w so let's try to mint token so as you can see it's a hundred minimum tokens to mint so let's try to admit like 150 maybe so as you can see here this is the amount of collateral that you need to uh use so let's put in like 0.5 so let's try the mint so after you mint you can also deposit and withdraw your collaterals uh accordingly and also redeeming which is you can remove the amount of that removes some of your positions so they can reduce the your depth basically so so as you can see right now you have 150 of the tokens which you can see right here as well 150.

so next so what you can do now with the tokens is you can either shop along so to long the token on unisop you need to buy the tokens from unisop or you can also short so since the price of the synthetic token is way higher in unison in the natural one-inch token you'll want to short the token basically so you want to mint the tokens from this page and then you sell it on unisop and hope that the price of u1 inch goes down in the future so yeah and this is the bonus i guess you can also deposit some w e to a so you we have about 0.5 so let's deposit so pretty fine deposit so i mean you see yeah deposit it so yeah that's about it thank you okay look quick uh quick feedback then i leave the uh the floor to patrick and mariano um the you know the ui as a you know general suggestion uh the user did you know the the least options you give it to him the easier he gets and you know it drive the attraction and simplicity i i have a feeling of getting lost as as soon as i see the page where they're not like steps it's all in one place and um so maybe you could you know give the user less choices and maybe step by step and then the second the second feedback would be um i mean the use case seems a little bit narrow maybe you can make it a little bit more general with more tokens and more uh you know applications why you choose just one specific token to shorten and and simply too long and short right it's just for that functionality correct yeah uh i i made it so that it's only for that functionality because it's like in one of the uh hackathons like uh prizes so i just follow okay okay okay okay okay i like it shipping i guess um yeah i mean i found that youtube interface a little bit confusing myself um i think that's why i'm struggling a bit but my understanding is that you're creating synthetic assets and you're printing these one one-inch tokens um i guess one thing i would like to clarify is like how does that mean they're long or short i just got the impression you're printing like you're printing one-inch tokens or like uh it's it's through the uma protocol so it's different from like just uh trading from like a unit swap so the price may be different but like there's very little use case the only use case for this like syntactic tokens is like if there's like an arbitrage opportunity between like maybe unit software and like sushi or something but is it like so you're just basically creating a representation off that token you know not like it's not like you're representing a strategy and okay so this is the token then yep cool cool um yeah i don't um i don't really have any more feedback i think it's it's interesting me personally i kind of like the uis where i can see absolutely everything maybe maybe hide that under a under a pro tab and you know give normal users less information but i i personally enjoy seeing seeing everything uh in one clear window yeah i guess i'm gonna whatever one last question is like did you guys know about synthetic assets before you started or is it like something new to you guys you know there's like you've been learning about aesthetic asset is i mean i actually just learned it like a month ago so i just learned what um was it like a month ago as well so i was completely new to uma basically i've never used dms so um it looks pretty cool well awesome that just about puts us at time thank you very much um thank you uh moving on to the next project we have quadratic treasury hello guys youtube you can start your presentation so this is alex one second let me share my screen can you see my screen yes all right hello everyone uh this is alex from italy and then the team lead of q2t a continuous permissionless and milestone-based approach to quadratic funding for the projects in the area of public goods now quadratic funding was ideated to be the mathematically optimal way to allocate funds for the public goods and we've seen projects like bitcoin experimenting with it bringing a whopping 1 million dollars plus in funding to support open source projects this model is certain efficient till a certain degree unfortunately though with increase in project and funds it proved to be impractical being exposed to civil attacks to manipulate the matching pool and starting to become more and more of a popularity game that rewarded projects that were more active on the social media rather than the ones in most active development the quadratic treasury model solves these issues with unique universal identity and a two-step quadratic distribution that replaces small contributions by individual contributors and matches available funds based on the milestones achieved by each active project in dao hey i'm evgeny i was smart contracting this project and i will do a quick walkthrough of contracts organization and our integration there are three templates each represented by treasury dao contract each template can have multiple communities each community consists of a community treasury community contract the ito token and gigs registry most of our integration is done through treasury down contract it uses harvard to deposit funds to get yield on them when one of the communities completes enough milestones dow quadratically calculates allocation for each community and delegates dow borrowing power to corresponding community treasuries contract our system combines our native credit delegation for the financial aspect with distributed towns mutual credit network that scores dows actual activity and milestone and integrates chain link decentralized oracles to validate the milestones themselves hello i'm milena and i'm the backend lead of the q2t team since meiosis are such an integral part of our quadratic distribution process we need to make sure that the data management is robust for this reason milestones are efficiently validated peer-to-peer and off-chain after that our system verifies them one by one through the centralized oracle integration with chain link i'll walk you through that now when a milestone is created distributed down generates a unique hash for it and sends it to the geek validator smart contract at this point true to our integration with chain link the smart contracts calls the back end for milestone verification once the hash is validated the request fulfilled event gets emitted and this triggers the fulfill function this sets the validation during this act we already implemented our smart contracts deployed them on kovan testnet and verified them on etherscan we also released a fully functional prototype and here for example i show you how in two easy steps i can choose the template 2019 either open source art and events or local projects and delegate 30 covan dice customizing the delegation agreement here we approve the deposit then we sign the transaction and in few seconds we can verify on ether scan that the delegation actually went through so thank you very much for listening to me this was q2t the quadratic treasury team and we're building a new permissionless standard for any project to integrate and reuse and for anyone to donate to and fundraise for the public goods feel free to join us hello i'm back so guys thank you for listening to us any comment question feedback yeah i could jump right in um so you sort of highlight the the issue with um git coin grounds as identity you know people are creating stable siebels and just uh maybe making fake accounts but i didn't really see any solution to the sibo problem in in your presentation so i'm just wondering what's the connection there how do you solve that uh or do you solve it maybe you don't but yeah yeah well um i mentioned it in uh very briefly in the connection with disrupted town basically distributed town has a mutual credit network that um is integrated with the identity layer so identities are completely pseudonymous 100 we don't request any kind of data and they are tight on skills so in order to complete a gig acquire credits uh and let's say grow the score of your own community and satisfy milestones for your project you need to have a unique identity and it's non-viable to have multiple ones because you need to validate your skills one by one is a sort of subtractive model so basically we assume by default that what you state initially able to claim is 100 true and anytime you receive a peer-to-peer validation that we verify with chain link uh later on chain and then uh your score can either be confirmed or decreased so okay so it's sort of like you mentioned your credit networks was like proof of human worker along those lines proof of contribution yes endorse me and then i get enough endorsements i'm a human being on the system it's not exactly that i mean it's a peer-to-peer gig manager let's say so you you put up a gig and i take it if i have the skills correct for satisfying this gig and then you give me a rate so if this guy if this rate is uh equal or close to the the rate that they claimed initially then my identity is confirmed if it is not then it's a iterative process and we get a certain point immediate value that will give you a final uh score thank you for the question yeah it's quite cool i mean you're creating a sort of like needed economy or i mean a needed disruption in a sense right so um on on those sort of products i would say for our experience the most critical part is the go to market and um on board like with clarity all the different agents and participants and and [Music] kind of babysit them through the protocol right and and make them the path as easy as possible so that's that's that's the to me the focus on on the go to market because that's your the tipping point just there that's nicole yes i agree i mean the thing is what we did with distributed town and the way we use ave and chain link are basically connected only to the quadratic treasury so for the end user it's just as easy as for example donating to a charity or donating to a project or to the public goods they just go there it's one click and they customize both the template they want to invest in either open source art projects or local projects and then they they have this delegation agreement where they can pick either zero percent repayment till the 50 repayment plus interest so it's basically a two-step contract that they do while investing in the public goods and this just one page for them and uh it doesn't require any knowledge of a distributed town chain link other and so on just a very simple same on boarding process good stuff does it make sense any last second question no all right all right thank you guys good luck to us and good luck to the next ones thanks to my team as well bye guys our next team is uh is shuttle x finance you can start your demo okay what's this um can you see my screen on my own yes yeah you might want to expand it okay full screen uh there it goes hi my name is benson evans and my project is called shuttle exit finance uh our main objective is to bring uh lee fi into the life insurance space life insurance space is huge it's worth 2.5 trillion and a 5.3 trillion insurance market additionally we will be participating in the fixed income market and that's worth 128 trillion dollars globally so we're talking about very significant markets and those are like very important markets for um for the d5 space in that you know billions of dollars have been moved into crypto entities and now uh through rv and hopefully shuttle legs we can provide uh investment vehicles in which that those crypto assets could be collateralized loans taken out against them and invested in other markets or entities or anything they wish um so we think this is very important very important in the uh to the d5 market in any case i would like to give you a grant of um our system here uh actually um let me just bring this right over here um uh basically uh you know our first customer uh we have four main customers our first is really uh one who's just more into uh into buying film insurance and maybe nothing else more so they'll be looking at different policies selecting one and buying it paying for it and be totally happy to see the net portfolio and that'll be it and they just be paying premiums the second customer will be pretty much like the first but to be more interested in uh maybe investing in our ones because he has a little more capital and he's interested in ones because he's more risk-averse so he's looking like yield and um our third uh customer we figure is going to be the reinsurers and they're going to be more interested in fixed income market and making markets buying and selling and moving risk away from the major insurance companies and then our fourth uh customer would be the rv t5 participants who are looking at now as i said earlier collateralizing the the the crypto entities taking out uh putting it in these are the protocol interest-bearing instruments and um basically then taking out funds and investing it in other entities so um basically uh this is what we're uh providing um you know a credit delegation maybe provide a shuttle x bond fund where um they can delegate to it and that could be invested in entities and investments being returned to them they could also trade in uh some of our different types of bonds that would be set up um flash phones we figured could be something where you buy one that's you know particularly yield and sell it for the price of a term in any case we think this is a very big market and important and um i'm a software engineer i'd like to move this further this was just a hackathon thank you very much for listening how to use hi hello hello thank you benson a very quick very quick feedback easy one um i think that if we are here you're speaking with an audience which uh you know knows the potential of defy and how many billions and trillions are you know it's it's the it's the total addressable market basically we will we're aware of this so since it's a four minutes presentation which is time sensitive i would go straight to the product uh define it with a few few sentences and and say this is what i've built this is what uh aims for uh these are all the different participants like protocol canvas in 20 seconds and then start with all the uh you know tangent basically and all the different things that users can do so always start with the very bare simple concept of what you're building and then expand to all the possibilities i understand fair enough that's that's all for me okay i um i have a question i um i saw a few different screens but i uh i didn't see any actual um you know transactions to the blockchain did you uh and did you integrate um any of these um you know in a test net no actually i actually i hadn't uh um done that there was one other person on the team who was uh going to provide some of that but he bailed out on at the end of the second week so pretty much what you have is uh the user interface and um the idea you know driving you know this whole thing okay sorry if i can say really quick also one suggestion i see that there are many uh there are many products and offerings that you uh that you plan to have i would say initially just uh focus on on one uh and try to get that going before trying you know some of the others because uh a lot of them are are big undertakings you know um working with bonds and with flash loans and uh you know with credit delegation and uh life insurance they're like uh like many different things so i would focus on uh on a single one and try to get that going first yeah all right go ahead well i was just gonna echo that and just say um i think i got pretty confused at what the product was you know because you mentioned like life insurance but then you're showing flashlights i'm like do they really need to be able to use flashlights yet that may be a bit intense for a new someone who just wants to get life insurance um i guess the advice there is you know just do one thing and just be really good at doing that one thing you only need one thing to go to the moon anyway um i guess my question is i didn't fully understand the life insurance product the spacex token and how that worked right well the the entire idea is to bring in more capital into into the d5 space and so basically you're looking at a customer uh facing system bringing capital in and then would be securitizing it creating possibly uh zero coupon bonds on the back end and providing a fixed income market that now is totally uh based on crypto um defy and link it with the ability uh of like depositors in ave based protocol systems to now engage now with the fixed income side so they're not really engaging with the life insurance life insurance is just the way of bringing in capital more capital into the system to create the larger markets awesome that about puts us at time okay thanks a lot thanks um our next project is idea factory feel free to start your presentation sure just give me one second let me share my screen okay i think i think the video i think the audio is low because i can hear very far sorry seriously uh i think i must have forgot yeah i forgot to share sound let's go back a bit tell me if this is better for market make 2021 yes or idea factory uh which was uh created by me and i worked on it with sophie for this hackathon so there are plenty of problems with traditional startup funding models uh as well as um lack of access for your everyday users um even though crowdsourcing methods do solve that but at the cost of more risk and less rewards as well for the startup there is a lot of work and knowledge and time and effort that it takes to become a successful founder and it's very very hard to do as i'm sure many of us know in fact over 90 of startups fail so what are the tools that idea factory uses to try to solve these problems so here is a typical flow for idea factory so a founder creates an idea an investor can fund that idea contributors can contribute advice design development to an idea and also get rewarded and then once the funding is over defender gets their money and the investors and the contributors get to claim rewards so following up on that i'm sure there are some questions still left unanswered so so we allow people to stake two ideas using vote tokens so it's a synthetic token where the price of it is determined by the total amount staked across the entire platform divided by the total number of of ideas on the platform or average funds per idea an idea token is a token that obviously represents the worst of idea and it is determined by the value of vote staked to that idea and funders are rewarded a certain number of tokens based on the percentage of votes they provide so for example if you provide one dollar to an idea that already has a dollar then you'll get 0.5 tokens so quick demo showing the app in action keep in mind it's a very early proof of concept so we have all these categories that we use to denote categories for ideas so defy you know business whatever we're adding one called baking we zoom through so these are problems for that category so l2 decks very big topics right now in crypto uh and we could add an idea to one of these called decks2 and then we'll go view those ideas and we'll see that each of them right now has four votes and yeah in the future we would add withdrawal functions etc etc and some of those future plans are launch ideas sec on uma launch finalize vote token on uma add withdrawal liquidation to smart contracts add rewards for contributors and iterate on above and launch version two of app on coven so thank you very much for attending this presentation and i look forward to hearing your feedback and questions so yeah hi um i have i said okay if i start please please cool uh my first uh suggestion would be that the most interesting part for me in a presentation is the actual demo and like yeah it was a video that you mostly jumped over and i didn't really get to see much of what you built so just like for future uh presentations like that usually to us judges is the most important part um after that this gave me like some vibes of uh you know the original the tao i don't i don't know if you were around for that back in 2016 so it is like uh uh like a way for people to come together and you know fund different projects right right uh yeah i've done i i wasn't really around for the dow but i i did some research and that was certainly something that popped up um i don't know if the dao i think i think the one the one the big thing is this idea that people can contribute in non-monetary ways whether it be advice dev like development or like graphic design whatever and they can also get rewarded i think that's a big thing that kind of differentiates idea factory from other stuff like the dao so for this is all not like wood for the graphic designers one idea be that if i contribute to a project and i do this really cool design people can vote to give me money is that like the the basic principle behind it basically yeah so so the idea is you would submit uh say like a logo or something and uh the creator of that idea and the other the other stakers who want to see dia succeed would uh vote on your design and if a bunch of people really really like it then you would also get a stake in the project and then the more success that project has obviously the more you're rewarded and the more everyone else is rewarded as well so obviously it's ideal it's best for you and it's best for everyone else to have valuable people to contribute because that will overall make the projects more likely to succeed i have one point on exactly these how do you link the idea to the final project which it could have a completely different setup completely different entity a much more sophisticated you know fundraise whatever so i get the economics of you know participating on idea and so you are creating an economy around the idea but the idea it's only worth when there is an execution if i'm not mistaken so how how do you ensure this connection between successful execution and and a successful uh let's say idea peaking right uh so that is something that right now we don't really have ideally it would be something like a profit sharing token or some like royalty equity sharing token but right now where the worst comes it's it comes from the donations or the investments from other people if that makes sense okay so it's it's like a kickstarter you think yeah yeah go for this idea like it's and then and then you you sort of like uh hope that you know the the the founder is grateful enough to go back and honor the people that have been um betting honey's idea like to be kind of but so if there is there is gonna be a way uh i'm not sure we're either gonna do funding rounds or it's gonna be like a perpetual just ongoing funding so basically from an investor standpoint if you if the majority of investors think that hey this guy or this idea isn't delivering then they can start a vote to liquidate and that would liquidate the idea as a whole and hopefully return the majority of funds back to investors so it is similar to kickstarter but it has that added security that if the majority of investors think that the project isn't getting enough done then they can start a liquidation vote okay yeah i see cargo as a founder if my vc could liquidate me after six months i'd be reagent well again like it needs a majority right like you know like if you have a thousand investors like you would need to have like they would have to have a good reason to liquidate like they can't just liquidate for no reason yeah but like to me like a product like this it needs to have a tangible connection with execution right because you know everybody says ideas are worth nothing like it's it's the execution so i i get it to create an economy around ideas but to me there is a like like it needs to be connected to the execution and there needs to be a sort of like bridge between those two steps because otherwise you you just have a pure speculation it could be a platform where people just come and copy the idea and and go make it somewhere so right that's also i don't know i know time is up so uh i don't know that is too philosophical but that's a good that's a good way to to end it because um time is up it's also us team uh judges the last three teams that you might see in your list um buy now pay later silk link and ming luo so everyone thank you this was session seven this will conclude the judging phase of market make everybody keep an eye on um on the closing ceremony later this week um i'd like to thank all of the judges thank you guys mariano nicole and patrick much appreciated thanks to all the hackers it's been a pleasure everything and we will see you guys later okay good take care everybody thank you thank you thank you very much patrick bye bye everyone