Judging Session 1 [MarketMake]

all right welcome everybody uh thanks for all of your patience we are ready to kick off our first day and our first session of judging for market make um real quick this has been an amazing event for us uh this is our first event for this year we have 490 hackers that are hacking today uh and they are 50 different countries spanning 17 different time zones and together they have worked on 120 projects so this is the first judging session we'll be looking at a subset of these projects today and i want to quickly just cover the format of this uh session and then move on to our very first demo so each team will have about eight minutes in total uh from where uh four minutes of them are dedicated to a video demo that they pre-recorded and the rest four minutes uh remaining four minutes go for a q a from our judges and uh we'll also be doing a two to three minute break before use for the to just talk among themselves and sort of clarify any questions uh as part of this process and then we'll do a 10-minute break uh halfway through about an hour or so mark and uh and that's kind of the point i would prefer and we'll obviously keep this somewhat fluid to account for any uh changes or differences in the agenda so the way everything has been set up uh the criteria for how judging is going to work today is as follows there's going to be five categories we'll be scoring our teams on uh based on how technical original practical the project is along with uh how the user interface and or developer interface has been uh addressed for the given project for the intended audience and then we also have a category that we like to call the wow factor which functions as i catch all for our events uh for any categories already things that we have missed from the four uh categories above uh and before we move on to our first demo i want to just remind everybody that uh this is not a competition uh people presenting here and who are participating at this hackathon are here to learn they're not aiming to become businesses our goal is to make sure that they get the resources and the freedom to play with and experiment with what they are passionate about and also really showcase uh the things that they've been working on for the past few weeks uh so the hackers here very much to to get feedback and uh the goal is to design this whole experience to give them that um today and doing our hard jobs are going to be our three judges uh and i have uh messed up the slides um i'll be quickly going through our judges uh tommy cool from ave we consensus and we have alex chapman from coinbase we're going to be looking at all of our projects and uh commenting on and giving their feedback to all of our teams so without further ado i'd like to move on to our very first team for today and that is team winboy and we have dragos and diego and europe from the team so whenever you're ready please feel free to share your demo this is winvoy you get paid now your b2b clients pay later most b2b payments happen on net terms this means that you deliver your worker product and you won't get paid until a few months later this has a big effect on your short-term cash flow traditionally this problem is solved by financial providers that buy your outstanding invoices at a discount and advance your some money most of these providers offer full book factoring meaning that they finance all invoices for a certain client and in the case of selective invoice finance providers they tend to take between 24 to 48 hours if not more every time you want to receive in advance a particular invoice there has to be a better way winvoy is a decentralized invoice finance platform that allows companies to extend flexible payment terms to their b2b clients now how does it work let's imagine there are the following participants acme small companies selling to other companies they use winvoid to request payments create invoices and get access to invoice finance big company is lcms client they request the vendors to invoice them in net 90. winvoy an ave as our liquidity provider let's see it in action let's say i magme and i send bitco a payment request for 120 000 i would go to my payments tab request a new payment select bitco enter the amount without the vit which will be added there and offer them two payment options pay now let's say with a three percent discount if they pay me within one day or pay the full amount in 90 days as they request all their vendors i review the payment request and it's sent to bitcoin now i'm biko i will get a payment request and see the payment options let's say in this case i prefer to pay in 90 days i sign the invoice and i can see that that it was tokenized and created and i can download it from here now back to agme i see that bitco wants to pay by invoice in 90 days but i have the option to advance some of this amount i click advance and i see that i can get part of this money for one percent per month i select thirty thousand dollars click borrow and i get the money now after those 90 days it's time for bitco to pay the invoice they would go to a win vote checkout page pay the 120 000 and they're done at this point agmen will get the remaining amount so what happened in the background when bitco decides to pay by invoice the invoice is created and tokenized at that point the winvoid protocol checks the rates for the availability liquidity pools in this case aves the win boy app checks the invoice risk score based on the combination of the credit score of the borrower the client and other factors it adds a fee based on this risk and offers a facility to acme if acme accepts the conditions winvoy borrows the requested amount from ave providing the necessary collateral and deposits the funds in agmas accounts when bitco pays the invoice the winvoid protocol will reroute part of the payment to ave to repay the loan keep the fee and send the remaining balance to acme we will continue working on finishing the credit risk model building winroy protocol and the ux for liquidity providers that's winboy you get paid now your b2b clients pay later thanks so much awesome that was a really cool polish demo and thanks for going first so uh what i'll do is i'll just let uh alex and men kind of kick us off with any comments or other questions that's really cool team um you know i love sort of business-based applications of a lot of our cool defy applications so a protocol so you know gravel for that very very creative and professional demo i guess my first question is what other features do you want to build out with the windboy protocol so the main one we were thinking about potentially combining all the invoices so instead of allowing the company to withdraw or advance the money invoice by invoice we could potentially combine all the tokenized invoice invoices create some sort of credit facility or credit line backed by those invoices and just make it make the process more transparent for the user so that they know they can they have this many invoices outstanding and they can withdraw or advance however many dollars it was very cool i actually had a question i may have missed this too what what kind of happens if uh the liquidity providers from blend the uh provide liquidity and then the uh business decides they don't actually want to uh fulfill the payment like is there any like what what's the what's the thought there on how that can get people can made whole i guess yeah that's uh that's a good question so we're looking at it from three different perspectives one of them we are um thinking about having a credit insurance on the invoices so every single invoice will be insured then on top of that we will basically divert part of the fee that we earned to create like a deposit um basically balance or whatever and then apart from that what we can do is uh offer these invoices to um debt recovery agents like um basically brick and mortar companies that can then go and chase for these payments obviously we would sell those invoices or the the rights to the invoices at a discount but uh between the three we believe that we can basically mitigate the risk as much as possible cool i have sort of one more similar question too uh do you think it'd be a problem right now given like this the d5 space the ridiculous apis people are getting convincing sort of liquidity providers within the iv platform to put their money up and these sort of things where there's potentially juicier apis yeah absolutely that's yeah that's that's that's a potential problem that we have what we're thinking is um if we advance invoices at two percent per month let's say it's 24 apr and if we offer that on stable coins um it's not the greatest yield that you can offer in this day and age but it still is a pretty good one plus it's not correlated with the crypto industry is uh correlated with the let's say traditional um economy so we believe that for some investors profiles might be interesting you know a quick question uh i i look at your project and and one of the things that came to my mind is that uh have you considered like some sort of like tokenization of the receivables and then somehow using them as you know to draw more liquidity and this way kind of like a supercharging uh the activity absolutely actually we tokenize the invoice when when we present the payment option to the payer to the final uh payer they will have to select the payment term when they decide to pay by invoice at that point they have to sign so we tokenize that and what we want to do is exactly what you're what you're saying uh trying to use that as collateral interesting is that erc71 in that case we're not sorry we're not actually tokenizing it yet we're just signing it for now and checking that signed by windmill you're saying like tokenizing and like making it an nft yeah yeah okay so non-fungible will be that's that's that's quite pretty quite interesting awesome well uh thank you so much to the team and if you have more questions for our judges we'll just read them to you directly over over discord so uh with that we'll move on to our second project and uh and that is team lev so i'll uh i'll have them share their video now hi everyone this is team levavi lev huawei is a user friendly platform for leveraging non-custodial positions on chain it is powered by industry leading protocols away and one inch what's the motivation behind it enable everyday users to open on chain positions with just a few clicks existing protocols are very confusing and have a ux centered around power users the users also need to verify and trust the protocol being powered by away we support all tokens available on our way with deep liquidity and high trust factor using one inch our users also get the best market swap rates using rv dashboard users can open multiple long and short positions monitor their health factor and close them all with just a few clicks here's an overview of our protocol let's have a look at it with a simple example where user wants to go 3x long on link using w ethers collateral the user deposits one w eth to lev away we take a flash loan of two w8 from away we swap the three w eth for equivalent amount of link in this case it comes to around 200 on one inch next we deposit 200 link on avios collateral and borrow a sum of 2w plus the flash loan premium we repay the flash loan and the premium okay so next as you can see at the end of the transaction the user will be left with a link tokens and a date of two weeks against it on our way so here i present to you the level platform on the left hand section you can configure and open up new positions once you open a position it's going to show up here in the positions tab and you can close them with just one click so from the example discussed before let's go ahead and create a 3x long position on link using w etherscholartree here i have selected weed from the tokens i have selected link from the token i have put in the collateral amount i have selected 3x leverage you can configure your slippage tolerance and keep an eye out on the estimated health factor from here once done just press on this flash long the metamask is going to pop up a few times and just click on confirm and voila it's done as you can see now it shows you the pair the loan amount the position and the leveraged asset and the actual health factor here and with just one click you can also close this position done finally let's have a look at what the future holds we want to provide our users with ease of mind by automating the stop loss and take profit feature we want to notify our users about possible liquidations and associated health factor risks we want to implement g gas tokens and thus save up to 43 gas on one inch swap fees and finally we want to enable better decision making by providing data and statistics about multiple tokens on the platform itself thank you guys that was great thanks so much for uh for that video i'll uh let our judges jump in hey that was very cool i actually had a very specific question from the last slide uh exactly how guys how how would you guys want to uh automate the stop-loss and take profit i'll give you thoughts for how you do that so we have the couple of ideas uh for example we looked at the gelato platform that could automate the um execution of the function when the price of certain assets based on what the user chose as a stop loss of or take profit which could be fetched with a chain link correct or price feed and so yeah we talked about that we're good solving that way this is really cool guys and you know i think the ui is definitely very unique so um you know congrats on that i'll definitely remember it uh you know and sort of today's like high gas price environments like you know you have a lot of contract calls there like how do you think about minimizing that for your users so yes uh don't know if it was uh you would see it in the presentation at the moment the oven along position it costs 1 million gas and we think we can save a bit by removing the storage uh we are the moment we are saving the positions on storage to show it in the front we can save a bit by implementing a sub graph but actually for our estimation uh at the moment we think we cannot go below around 700 800 000 because of the cost of all the operation on ave and one inch so yeah uh with the current uh fees on one e on ave we think around 700 800 could be the best optimization i was thinking that this is actually a kind of similar question for the as opposed to the previous project but uh quite a reason uh are those positions tokenized so let's say you you create a position is there actually like a punchable token for that let's say yeah that's something interesting because in in one way you could create a uh like a long and short position at the same time and then practically you end up having like a uh stable coin or you create a position just one x short you have a kind of a stable coin and this this that's kind of like interesting about this and also if the positions are tokenized it's kind of like and and you have some sort of uh uh orders let's say uh stop losses and so forth might might create an interesting like some sort of secondary market i don't know if if there's like a demand for anything like that but just uh quite quite interesting yeah at the moment the positions are not organized uh so the smart contract is completely non-consoled and basically just uh interact with the other pulse and the one inch swap and the user just ends up with a position on ave basically but actually we talked about tokenizing the positions we don't have a specific answer like on how to do it at the moment but yeah we think it would be a cool idea also like other platformer have tried the gasks i'm not sure if there's something on uh working but yeah there's another app that i was seeing that they were trying those tokenized positions cool cool nice nice project i really like the idea like because it's uh kind of like with two different protocols you achieve it well thank you so much uh la vave and uh with that we'll move on to our third demo and that is uh team droplet pool so whenever you're ready saying feel free to share your screen hi everyone um nice background good nope most internet users were spoiled by some form of free service the problem is that they are not really free in january whatsapp alarms is updated user terms and agreement all of a sudden users start concerning about their policy and spark a migration to other messenger apps like signal and telegram signal gains more than 7.5 million users between generally 6 and 10 shortly after that signal's surface was done for almost a day because of the overwhelming news users it is questionable how many more free users signal can support with the current business model all we know is that users do not like servers that came to be free but actually selling your data decentralized solutions sound perfect where users have direct control over the data however users do not want to pay for any similar service as it has been free for them the whole time and how can we transition consumers from so-called free service to pay-per-use decentralized service let me present you dollar pool it is a not less membership defined application the concept is easy to understand users take a certain amount of coins to join a membership offered by a service provider droplet pool would deposit the stack into avoid and deliver the yield to the service providers periodically when the user no longer leads the membership he or she can simply withdraw 100 of the stake and virtually enjoy the membership for free it is a new form of nonsense and decentralized membership model unlocked by the powerful define let's check out the demo let's pretend we are a service provider and let's create a new membership program and you can specify the state price and for creating a membership program we actually need to stake one time do you actually go to jobless pool for maintaining this service that's it let's say we are a user and then we can search for members program to join on this platform um so we're going to showcase during this particular discord membership program here and it's showing that we need to stake one dime to join this program then we're going to showcase how integration can be done with this smart contract and job that pool so for the discord cases we have integrated a dollar pool robot for the discard and now i had joined the members program and i can go into this general channel to ask the bot to log me in it will give me a hyphen k name which will bring me back to a web page with my wallet connected and then we'll hover again with my wallet and then now i have a group to the discord will show me that i already have the vip channel added so let's say now the user change his or her mind and you know want to withdraw from the program so you can simply unsubscribe here and then we get order all our stay back and we check the discord again so the webp channel is longer there we have been removed from the vip channel automatically in this demo we have showcased how job pool can provide lossless membership to users how users can take full control on the subscription and enjoy the membership for free as well as how service providers can utilize such a defined application to earn you and communicate with its members amazing thank you so much for that demo i'll let our judges dig in thank you thing that was very cool are there any sort of um you know there are obviously some cool like d5 communities um that i think will really lead into what you're building um but do you have any sort of like you know web 2 communities in mind that you think this will be very relevant for and you can sort of use it as a crypto onboarding mechanism of sorts um i aware that there is a big you know uh blockchain and cryptocurrency uh community and the thing is that most of them would try to open up you know their own discord server and then you know many um users on there and then some of them they utilizing to provide support as well however they would like to keep those support service free but then the problem is that there are too many people questioning bombarding the support team so um i pictured that would be um a interesting target uh customer that would provide this kind of um you know lost lag and you know state-based membership that people uh need to stay to you know join a support um you know discord channel to ask questions yeah that makes a lot of sense we have to ask danny i mean the rv discord certainly reacted all the time yeah that could be a potential potential place uh that's that's pretty interesting i really like the the way that you you actually use discord here in this this hack and it was you know this could be actually a way of creating you know if someone has like subscription services you know getting free subscriptions that could be also like a way to scale this thing um i think the whole whole idea is um seems to be simple but it's actually important one is that um technically we have a lot of um perfect or amazing things happening for the referee and the decentralized um communities however it's still a little bit um difficult to get into the mainstream market because of the economical reason that people are spoiled by the free service so how to how to transition that and you know draft more of those um you know user uh momentum and marks into the committee i think is important definitely this is very cool i'm actually uh more so than any specific question against it i'm just curious what you think like the the kind of next if you had more time to do more stuff on it what's the next thing you would add to it um that's a lot um to be added um however one thing i would like to get a better understanding is to um put it well actually it's already on the tesla um i would like to get some more feedback from the community and see you know how they like or do not like this kind of product and how how we can do better on that before i invest more time into the technical aspect of it great and maybe uh all just gonna put in a question on myself uh you kind of sort of talked about this on the video but what's uh what's next on are you planning to continue working on this what are you looking to add or test um so i get it on a tesla so we'll try to do some more testing there and then the next thing is to get it on the mainnet and you know find some potential uh pilot user on it um and one more thing that i have in mind that um is if if it turned out there's a demand um that we can actually turn the memory into a nft token and make the membership transferable however my question is that do do the service provider and the user really like this kind of thing or not or it's actually too technical for for them to digest on that end that's a legal concept i think they'll be pretty fun to have a secondary market for memberships but uh sounds great well thank you so much for presenting today and uh thanks for working on this cool hack with that we are ready to move on to our next team and that is a project paladin so i see uh maxim is already here so whenever you're ready feel free to share your video looks like the audio is not coming through so let's have you try it one more time we're not getting the audio you just have to uh exit the screen share and then click the sound box one more time hey everyone so laters meet we wanted to try and flesh out the idea of a governance lending protocol that we like to call paladin the idea behind it is that we want to polarize speculators and unchained governance activists for financial protocols it is very important to have a decentralized governance not only for idealistic reasons but also for regulatory and economic reasons this essential aspect of decentralization has not been worked on very much yet and we'd like to tackle it the idea behind what we're trying to do is that we're trying to create a new money lego that allows speculators to earn extra yield on their governance tokens while allowing a governance activist to borrow more voting power and be more active on their governance system so how does our protocol work basically you can choose to ask for more voting power by just choosing how much votes you need more for example to launch a new protocol you choose your termination date the time until you need your voting power and you just have to pay upon the fee you click borrow and after that you can check in your balances what are your active loans either extend or close them and how much total value you actually have where it becomes really interesting is that you can actually choose any token that gives you voting power so outside of a classical aid token for example you can actually stake your own aim in the state key module and stake the state ave which is just a token that gives you voting power and basically that's enough force so if you don't intend to vote you can add extra yield to your token okay technically the way it works is that when a user deposits the tokens it goes in a model pool and when another user requests to borrow some voting power we create a loan pool dedicated to the amount of voting power that he has asked and that's where he gets really cool we actually don't give him the tokens but we delegate the voting power to him which means that we don't need any collateral in order for to accept a loan so to summarize paladin is a governance lending protocol that allows non-collateralized loans of voting power of any tokens granting voting power that means that you can use maybe indexes uh yield interest bearing tokens on top of the actual governance token as long as it has some voting power with this protocol we can actually build a much more robust governance not only by polarizing users but also by creating for example automated delegates for unborrowed voting power and actually ensure a much more important and decentralized efficiency of the voting power there are a lot of ideas behind what we can still do but we would actually need more time and funds thank you very much for listening amazing thank you so much for that raymond oh maxine i'll let the judges dig in and ask any questions so there's a lot of surface area here this is extremely cool i like the idea of a platform basically for vote buying i'm i'm curious if you've uh thought about for like governors tokens with voting that don't have like delegation systems built in or have locking like for i'm curious kind of how you would like uh think about potentially implementing something for curve uh like to support this because it's not going to be useful there i'm just i think feel like that'd be maybe involved a little more yeah here's your thoughts so to be honest we haven't thought about curve yet for the simple reason that we need to integrate each different token uh following its governance architecture right so right now we're focusing on the ones that have the delegate function and we'll think about curve later but i definitely agree it's going to be a big big big one to integrate i could say that this is very interesting i mean because traditionally the the the kind of like a thing with governance tokens and the discussion with with voting power is that you know there might be a whale that comes in and just puts a big collateral and and borrows you know for good or for bad you know but but but that's that's like one interesting part so it's always been like collateralized thing right and and what we have here is is the system that you actually don't need at lateral so this is a very uh fascinating innovation and uh how it works technically so so let's say you there are people who delegate the votes to evolve because you you can't redelegate right or somehow like once you set up this agreement then you get the delegate from whoever you're buying more or less i mean for borrowing those those delegated thoughts oh valentine looks like we're not getting audio okay so uh what we do is first uh so the yield farmer just gonna deposit let's say it's a token on one of our pool and so we get another c20 that represents how much he he put in the pool and how much value he's gonna get from the interest and stuff and when someone asks for a loan so if they want like 200 tokens worth of voting power we're just gonna pop a new smart contract and send those uh a token to this new smart contract and delegate from the contract to the the borrower and he that way he's gonna get the the voting power digest the the amount he paid for and we can keep the the tokens in a smart contract that's controlled by the the pool in the protocol got it so so here in this case you're using basically the uh let's say ah the tokens not the are there or well actually that's not you can't vote for it at this moment but let's say you you could just uh see the idea is that you deposit deposit the tokens that say are the talkers into the contract and then you make the delegation once someone is uh getting it right yeah yeah we because we can delegate part of the balance we need to to create new small contracts to to move the funds and they get just the person the the loaner asked for and not the old uh stacked pool we have on in in our protocol so we do that by yeah just having a lot of little small contracts that hold a certain amount and delegates to one user and when the the the user paid like for two weeks and the tweaks are done we just kill the contract and send back our funds and the fee paid to the to the main pool so we increase the interest and create values for the liquidity providers cool nice nice very cool well awesome if there are no more comments we'll uh we'll be taking a quick three minute break for our judges so i'll kind of have you join the second uh url that that's in your email we'll be back in three minutes with the team extra credit uh presenting next and uh congrats again on uh demoing this one pelican i'm particularly excited about the activists investing here that's that's going to happen in nephi so this is great thank you very much amazing all right so we'll just put everybody on mute and turn videos off and be back in three minutes all right everybody we are ready to resume and uh kick off with our fifth demo so i'll just wait for all three of our judges to come back and uh and quickly uh just acknowledge that they're back here as well so i think we're waiting on stani and then a few seconds in that's just perfect so all of us are here let's have uh tebow from extra credit um kick off with uh their demo yeah hi everyone thank you for the opportunity to present hi my name is tibo and welcome to extracrate a margin landing solution where both depositors from ivy and borrowers can boost their yield farming rewards we were driven to tackle a few challenges that currently undermine the defying market the year season is rather unfair to descript to wealthy people as the bigger portfolio the higher the reward in usd amount transaction fee is also currently all about black market participants with smaller file holdings lastly the current borrowing lending infrastructure requires overcrowded generalization to take loans and not enable you to take six to seven digit loans with a four or five digit spot for you at the same time there are several opportunities to find solutions to these problems billions worth of funds unused sitting on protocols such as avi a yield farming season with two or three digits ri being common all over the place but also create delegation and have a feature lastly a lot of depositors lazy to seek for higher yields and just leaving their phones deposited on ave on the other side some farmers extremely active in finding opportunities that could benefit from a much bigger pot for you hunters extracted an application using average delegation and matching small yield farmers with large ave depositors profile of great delegators include people who are liking the time to seek for a higher yield by using our product they will be rewarded with a boosted yield on top of the rv deposit rate profit of the yield farmers using our products are a high activity at seeking the best skill in the market they are also active at managing their yellow location and rebalancing assets across farms they originally have little crypto assets holdings and cannot leverage from large ones the product works in a relatively simple way depositors on one side deposit their a tokens to a credit pool and delegate the credit line to margin borrowers on the other side interact with the margin rule that is itself connected to investments they can interact with the investment connected to our product and need to deposit a margin amount in their margin account along with the borrowed interest rate that is used to repay the running interest on the loan reward allocation from the investment is dynamically computed following a rate management system that ensures durable liquidity in the system hi i'm fred from the extra credit team and i'm going to show your app our app is divided into the depositor side and the borrower side let's start with the depositors into the credit pool nice i have an event confirming the deposit i can now have a look at my dashboard and see the top i will receive from the investment that the borrower will make let's have a look at the borrower side now this is where extracurricular shines at its best because investors can borrow a significant amount of dye compared to the margin amount let's have a look the borrowers can also choose their favorite plat investment platforms and the duration of the credit delegation lines there are some tool tips to guide you throughout the form once the borrower is finished he can have he can have a look at his dashboard and see the total borrowed amounts his total account holdings which includes the total margin plus the borrower amounts you can also have a look at his reward allocation ratio which is pretty good right now he will receive most of the yield rewards the solvency ratio looks pretty healthy since it's above the 115 limits we've putin thank you uh team extra credit there's a lot going on here so i'm sure there's going to be a full questions from our judges and i'll let them kick this off i have a question about the the uh how do you do the credit delegation are you locking a tokens or are you using the native print application in our way so we are we are using both so the the the a tokens holders deposit their a tokens to the the credible and then they choose which amount they want to delegate out of those um uh the the the the delegation power they have out of those eight tokens so they have to fill two information yeah yeah that's that's a good good solution actually um this is really cool and you know quite complex like if you don't mind would you mind explaining like how you sort of split the reward between the borrowers and the credit pool and how do you how does that sort of factor into like you know incentivizing liquidity providers as well yeah so the amount that was um shown in the videos was actually the reward speed so we have integrated the yarn vault for instance and said that the diode vault um harvests like 20 so we have a reward split out of those 20 percent and for that we actually used um we got inspired by the the risk framework uh formula from uh from rb so we use the same formula for the borrow rate and then we just do um i mean for the borrower side and then we just do one minus the borrow rate for the the reward that goes to the the depositor side and then we think like the combination of both would incentivize like more depositors to coming to come in if there are too many borrowers and vice versa this is very interesting uh so i mean i i i'm characterizing this right but it's kind of like crowdsourcing effectively it ends up being large capital providers getting like index fund management crowdsourced by random people kind of however yeah so so i i'm curious like do you think the reduction in rates that the capital providers actually get from that uh do you think they'd find that worthwhile like kind of outsourcing their their capital allocation to randos uh i i actually don't know like they might be very very valuable i'm curious i think the risk you're right like the risk um how do you say like the risk profile of the depositors will be important so like we will have to make sure like the the platform looks uh as safe as possible and maybe probably like some incentivization at the beginning with some extra token would be uh would be uh would be important as well yeah yeah so does the risk matter isn't is there some sort of margin calls let's say or if someone can yeah yeah so if if you so we we by the way like the borrower has to deposit some margin and the margin uh an a small amount of the margin amount is used to pay the running interest right on the loan and if let's say there is some impermanent loss coming from the investment in the in the wall for instance or in the lp whatever then you can the the borrower can get immediately liquidated okay well if there are no more questions i want to thank you for doing this demo and i hope you continue building this thank you very much so with that let's move on to our next team and it looks like they've been promoted already so uh whenever you're ready feel free to kick off uh stick your name yep here we go hi everyone welcome to my presentation for the market make 2021 hackathon i'm daniel chilvers and this is stake your name i originally went into this with the idea of forming a team however when it came to pitching my skills i think my cv let me down a little this is my first hackathon and i only started doing solidity at the beginning of this year i've never had a github account and my only experience of terminal was that i thought tom hanks was great in it so i had to go solo the idea for stake your name came out of one of my first crypto purchases my ethereum name service name and i happen to notice that's due to run out later this year i wanted to renew it but i was reluctant as it would cost more in gas fees than the renewal costs as i delayed in renewing i realized that as the ethereum price goes up the amount of ether it costs to renew your name goes down this is because ens prices are tied to the us dollar in fact renewing one month ago would cost 70 more ether than today and three months ago it would have cost three times the amount and so stake your name was born i'd estimate that 90 of this project is the solidity code itself there's a lot going on in the background and plenty of other services it integrates with the user isn't aware of any of this though they simply deposit some tokens that are stored in their own vault contract and they can withdraw the tokens anytime they want they can also add an ens name to the vault and stake your name will renew it as required behind the scenes there's a lot more going on skip the long explanation we deposit tokens to rv in order to read new irene s names are they give us interest in our deposits we check if v and s names need renewing estimate that cost using chaining oracles we find the chain link oracles using e and s then we check the exchange rate on one inch verify that rate on chain link we draw the tokens from rv exchange for ether on one inch pay ans for the name renewal all the time grouping users by assets deposited and ens renewal dates in order to save costs on token exchanges and transaction gas three weeks later okay so this is the state your name website i'm going to be quite brief because there isn't much to it let's get started connect our metamask out i've just made a new account and uh gone to the af a4 set we need to approve or about to deposit i'm going to stake the name alice because that's what i use at the weekends i actually need to wait for our approval to come through we actually have a choice of token so there's our approval already why not let's uh get our names staked the uh currently we don't actually support the other domain names there's only yet but we're gonna have to work on that once uh this transaction has gone through we will have created a vault which will deposit our hundred die as a die here it is there's our vault address a hundred die is already decided accruing some interest we've staked the name alice it's 13 days left i'm going to help bob out i'm going to also help fund his name while i'm waiting for that transaction let's have a look at our vault it's here on ether scan we can see his freshly minted contract 29 seconds ago already it has uh all the a die in there you can read and write to the contract directly because it's verified let's go back there we go transactions just finished in time bob has 44 days now i'm not going to wait for the stakeholding contract to uh do the renewal automatically so i'm just going to go to the back end and just give it a little poke once that transaction goes through we should see that alice is within the renewal period her time should increase and the funds will decrease whereas bob will stay on 44 days because he's not within the minimum renewal period thanks for watching looking forward to any questions you may have danielle this is uh one of the best presentations i've ever seen this is awesome so congrats on i really good and consistent and concise demo but also on doing this the first time and submitting for a sacrifice this is awesome thanks um i mean i have a couple questions but i'll let her judge this code first yeah no i i'll just start off i thought it was extremely cool i'm actually my first thought is even though this is used for ens specifically in this particular use case it seems like this could be made very generic um like we need to throw like a kind of a protocol layer of like uh being able to pay for sort of subscription services and this sort of stuff have you thought about that yeah 100 that's one thing i realized straight away is for me to automatically get the renewals once a month i could just deposit use my a token interest to call the ethereum alarm service then once i've integrated with that that's potentially something i could offer to the users so you could then deposit and instead of reading your ens name you could also use that to trigger an ethereal alarm service call to poke your contracts whenever you want and other things it's basically turning deposits into uh sort of low cost subscriptions like you can just manage them that's really cool and um i mean i think you know i know a bunch of teams who are looking for talented spokespeople like you so we definitely would love to stay in touch because you're a great evangelist um you know you mentioned this is your first time working with solidity like you know what elements do you find challenging frustrating like liberating joyful lighthouse experience i think it's it's been like a steep learning curve um definitely i could have uh done this whole thing much easier like one weekend i had a complete code rewrite because i was just doing stuff wrong just figuring out how to test net like everyone tests on their own local ganache which is what i set up originally but then i just didn't have the integrations um uh so i just couldn't like so i ended up having to i used the rv testnet which is absolutely fantastic on coven uh but there's no ens test net then well there is but it doesn't do the back end renewals it just gives you a name for free which is a bit annoying um and so i ended up having to simulate my own uh one inch my own ens um and do that then i could use rv and i could uh you i could use chain link chaining actually you're pretty awesome on the test nets as well i just want to say that welcome to the uh developer community thank you it was just variations of my questions that have already been asked but i was curious to understand like are you planning on continuing this thing like i was actually i think there's a lot more potential for things outside of ens as well so i'd love to kind of see what your plans are on yes i really hope to continue this um actually with my purpose personal circumstances i've just uh decided to completely change career and just go into this and i've already had interest in the last few days uh because i was putting some pull requests on some other projects i was looking at and so uh yeah i'm totally got my first uh contract um i might be looking into this career so i'm not gonna have so much time to do on this project because i'm gonna be working for other people but yeah i want to continue this and uh hopefully get that alarm service integration and then look at some other stuff after that well this is amazing well congrats and welcome to uh the web3 community hope you continue holding this and and do more things beyond just this too thank you very much thanks again and um thanks again for presenting so with that we are ready to move on to our next demo and that is team fuji boro and uh whenever you're ready uh feel free to kick off with your video hi we're team fuji and today i will introduce fuji baro in the current defy ecosystem there has been a big focus on projects that aggregate yield earning and not much attention has been set on aggregating borrowing rates today borrowing markets in dephy appear isolated it is not uncommon to notice significant differences between the borrowing rates across the existing lending platforms the current imbalance in borrowing markets and the difficulty for the average user to transfer a depth position from a lending platform to another has made us determine that these are problems that should be addressed with this in mind we have decided to build fuji borrow fujibarro is the first protocol that aggregates borrowing rates from multiple lending platforms and facilitates its pool of users to constantly refinance debt to the lowest interest rate available for purposes of this hackathon we have created a simple proof of concept focusing only on aggregating two lending protocols and a single product line if as collateral and die as the borrowing asset fujibaro consists of five core elements adept token contract based on obvious debt token standard a vault a controller a flasher contract and a proxy contract inspired by instep for each provider we also use chain link price article to keep healthy collectorization ratios and i'll explain the elements with a user story upon the creation of a vault the controller calls a function that scouts the lending protocols for the current borrowing rates the controller determines the best provider which is then said as the active provider of the vault users who intend to borrow will interact with the volt contract the vault receives user's collateral and then executes the deposit and borrowing operations by using the volts active provider at the end of the user's transaction the vault calls the depth token contract and updates the user's depth balance accordingly when other users interact with the vault the controller scouts the markets and if it identifies a better rate it sets a new provider the controller then calls the flasher contract which receives funds and calls logic from the vault to transfer collateral and depth position from one provider to another to end our user story the depth token balances get updated as mentioned previously and the cycle continues now let's move on to the demo we have built a simple experimental front end enabling users to manage their depth position first they connect their wallet and launch the app on the next page they can see which is the provider currently is used by the protocol and get advice on how to keep their debt position safe for entering at that position in die they need first to supply if as collateral we simplify users experience by enabling them to do both actions in a single transaction the user confirms the transaction and then receives the borrowed amount next there's a dashboard where one can manage an open position in similarity to credit unions we want fuji users not only to benefit from the advantageous borrowing rates but also the owners of the profit generated by the protocol fujibarro could greatly reduce the cost for borrowers at the micro level but also be beneficial to the whole defi ecosystem by smoothing high differences in the borrowing markets and empowering the base protocols with stability some ideas in the near term include the concept of soft liquidations and issuing fixed rate bonds fuji borrow is the first step in our vision to provide affordable defy services follow us on twitter to keep up with the project's evolution and on behalf of the fuji team thank you thank you so much i'll let our judges ask questions before that i just got a question for all of you how did you know each other before the hackathon or as you meet or how was it working like with different times and some different people i think we used the recruiting section that was uh organized by the 8th global team and that's pretty much how we met uh awesome well congrats on uh shipping this collectively and uh and also working together in a uh entirely different setting so that's great thanks this is really cool guys um great work um would love to hear how you're thinking about like sort of developing the protocol further for application and fixed rate bonds how would that work exactly in your mind so in terms of the fixed bond the idea that we presented at the end is the we we want to have also our own pool of liquidity so we can leverage positions uh either with the existing protocols so that um we we we can have some liquidity in ourselves and don't rely 100 on the on the base protocols that will give us some security for our users and uh yeah that's my my way to explain it yeah and yeah we were thinking to um because we we know uh all the collectorization ratios of all the users and like to take the the ones that have the the healthiest positions and to uh to to to sell bonds for uh for the the best uh for for the best borrowers uh at uh at the rate that is probably lower and fixed fixed in time yes this is super cool i was actually curious i'm assuming like on the back end the the way the vaults work because they're kind of wrappers around cdp's so i imagine like theoretically you could either you could expand this to any collateral type that maker uh like actually worked with is that is that right like would that be kind of one of the next things you guys want to do yeah yeah yeah i think uh the idea right now was just to prove that to ourselves that it works that we could transfer you know uh positions from one platform to another but yeah i mean the idea is to grow in more uh tokens and yeah i think also like it's quite interesting like how like interest rate differs still like and no one has kind of substrates so definitely like something like this will help to to settle sell the consumption because of course there's different uh reasons why rates are let's say now uh lower than for example in other protocols for example what presented in ave um and also like there's different kind of risk parameters involved in collaterals so but it's it's fascinating to you see how much there's difference and i think this is quite interesting especially if you can read balance on whatever rates fluctuate what about did you guys see there's the stable rate as well in ave and uh did you guys think about using it somehow uh yeah sure um so we have we have created like a interface that is allowing the four base basic actions like deposit borrow repay and withdrawal and like this interface uh it will be implemented for every provider and other stable rate is like it could be considered like like a different provider and each time the controller scouts the markets it checks also if the the stable rate is better than the the variable rate or or the other providers oh that's nice amazing awesome well thank you so much and uh congrats again on demo and i hope you can see i'm working on the project with that uh we'll move on to our next team thank you and that is uh project fido bite so i think you're already here uh whenever you're ready feel free to present good hi everyone emily here to introduce my team's project phytobite a tokenized shelter dog walking protocol for the market make hackathon so before we get started i wanted to take this moment to introduce ourselves my name is emily and my role is mainly product design and fun and engineering hey everyone my name is andrew hong and for this hackathon i mainly did solidity development and front-end engineering hi my name is joseph corrado my role in this project was primarily as a solidity developer and database we were particularly interested in looking at animal shelters so shutters have a limited budget and the number of walkers have definitely been impacted as a result of the pandemic thus there is an increased need to incentivize more walkers to be active on the platform in addition new dog walkers often have a hard time building a reputation on many of the mainstream dog walking apps having to cut their rates in order to gain more clients health on our platform dog walkers can acquire badges which can help dog walkers distinguish themselves from other dog walkers after having achieved certain positive benchmarks over their dog walking history by tokenizing the walks of shelter dogs we are attempting to subsidize the cost of a walk for animal shelters while also helping build up a platform transferable reputation for walkers so essentially a shelter will register for a wac account here walker gps data such as distance minutes and end time will be tracked by the app and this data can be inserted through mongodb grab ql database from the front end walkers can request to be paid out walk tokens which are queried from the mongodbs database via the use of an oracle contract and a chain link external adapter after they have their tokens they can choose between either upgrading their badge level buying a limited edition dog toy nft or they can redeem one die per 100 walk tokens and this die is deposited into ave to accrue interest uh while it's unused our tech demo of phytobite so here we're going to create a badge right now the level zero because we don't have an account uh now that i've created a badge it's showing a level of one right uh next we're going to claim our walk tokens so this is based on how many walk we've done the distance we've walked how many dogs we've walked uh the time walked uh the total payments so far is a thousand five hundred walk tokens all right so let's say i just took mochi out for another walk for 23 minutes i'm going to insert that into the mongodb database which connects to a graphql api endpoint in reality the data will be inputted automatically from wags api so if i query the oracle again and claim these new tokens it's going to show okay that last walk gave me 25 walk tokens i can also update my badge on the top right um this is a nft so right now it's showing a level of one and after updating it's going to show a level of three i can also redeem one die per 100 walk tokens so this die is deposited in ave while it is kind of unused to generate interest and upon redemption then it will withdraw the die from ave so here you can see i spent 500 walk tokens and got five die lastly we can also buy limited edition toy nfts so this can be redeemed at the shelter for the actual toy there's only 20 being sold and it costs a thousand walk tokens so after i buy it i can see my balance went down and it says bought new doggy toy this is all on the sub graph and here you can see it connects from three separate contracts now that you've seen our tech demo we want to show you the four main contracts that we used for our project feel free to pause here or come back and ask us questions about the sleep for our road map in 2021 we're looking forward to reaching out to nearby dog shelters and dog walking platforms to better understand the market for our products next we will demo phytobite with a set of walkers on the coven testnet to make sure that the api and the security of the protocol is seamless afterwards we will expand our nft marketplace and look for more potential partners and finally pending positive feedback from potential clients we're aiming to deploy to the ethereum main net by summer this year thank you for your time and let us know if you have any questions well that was really cool oh yeah i want to say thank you guys for putting uh proof of work to a whole new level uh this is uh this is really nice i think it only gonna go i like the nft touch too so what i'll do is i'll let our uh our judges go in first and ask questions but uh yeah this is uh this is really fun and in a very practical use case yeah i don't think i can like walk my neighbor's dog the same way anymore i mean that was super cute and very like beautifully presented as well so well done guys um you know i think it sounds like you've got a good roadmap um you know laid out have you thought about sort of extending this to uh other sort of uh physical activities aside from like dog walking or like you know how extensible do you think this is yeah i'll take that one yeah we thought about it because we noticed this is a problem for many like x's of service platforms like if you're on for example instacart at the start of pandemic they actually reset the reviews on all of their like shoppers so people who have been on the platform like years kind of generating those reviews were reset to zero and they had to cut their prices and it was like really hard competition um we chose animal shelters just because we saw this kind of a two-way problem of like both the walkers have an issue as well as the shelters um so it's easier for us to start there kind of pull both sides to a platform um but definitely can be expanded more um haven't fully thought out what other services yet because i think the other nice thing is the fact that wag already collects the gps data for us um which saves on a lot of much more difficult technical implementation i i yeah i love the design for this it's very uh very cute the art's really nice too i i i'm very curious uh like just have you done any any uh or talk to any sort of real world dog uh related businesses like i'm i'm getting too and sort of curious about what their attitudes on crypto are i guess like that's kind of always my big question whenever there's these integrations with like traditional or like normal style businesses how they feel about crypto if they're weirded out by it or they're excited by the prospect yeah i think that's where we're planning on kind of taking this to the brooklyn animal care center where i adopted mochi um and also i used to do wag walking so i can try to find some people there the plan is just to pitch it to them and see what they say they're eager to just be like what am i looking at or they might be like all right what is this going to cost um but yeah we're we're interested in that too because it's like we're looking into how do we bridge kind of web 2 into web3 because it feels like there's a lot of web applications that could be bridged it's just finding the easiest way to get it done once and then other platforms will probably be like okay now we can copy that um so yeah i have no idea what they're gonna say i love the uh kind of like organization of toys that's that's super awesome like it's uh interesting to see like i mean you could um there could be a all kinds of things you could develop on that uh that's a pretty nice thing i would love to buy something i mean if you guys continue continuing also that part of the road not you know of course yeah there's sort of there's a lot of dogs in our family as well that's the way support to support spawn yeah we were also looking at trying to integrate like dogs into avagashi in some way if we could like basically take a shelter's dog and put it in there um yeah but we were looking into that but we didn't have enough time to kind of test all of that out but definitely try to think of like the nft side would be where most of the expansion would be yeah that is really cool well i think uh not only just i think you already said it which is finding more easier way to bridge web 2 and web 3 i think is where things are headed and i think just for the next few months and this year just layer twos and just more normalization of how stable coins are used in day-to-day lives i think just all that will make it a lot more possible so if you are choosing to continue working on this there will be a lot of opportunities to uh to make this appealing to everybody who is not directly into krypto so congrats again and uh hopefully uh this gets into obagachi and we can get some nice entities thank you perfect so thanks again for presenting um we are at the halfway point now and we'll be doing this we'll just be taking a five to ten minute break um for all of our judges and we'll be resuming uh in a few minutes from there so um maybe one this quick thing i'll do is i'll have all of our judges just join the other link um for a couple minutes and then we'll be back here in five to ten minutes after the break so thanks everybody appreciate all your patience okay everyone we uh we're just waiting a minute or two i am the returning mc i'm andrew from east global taking over for car tick thanks everyone um we'll just take a minute or two more till the uh the next team is ready stand by already and the next team is called ferald if you can uh start your screen share and start your demo we shall begin uh hello guys what's up can you hear me yes okay so here's the hope this video can be equipped and not long okay uh due to technical issues we're having some audio trouble there older individual documents are components of our day-to-day live we have to have them with us at all times but there are ideas in the erc system whatever represents an individual's id and people should be presentable with this extra layer of identification this far would be individuality human and crypto identification would benefit security so the stories of the location were uh you know presentable kyc reasons we would issue a we could create various utilities around the crc 721 one use case that i'm presenting here would be this yearly halloween theme in this case the users would have to have this their [Music] really recharging and now the ghost is winning so i tested this out with 65 pounds this is for showing the minting of these tokens can be token id and then we would just pass in the json see if the location token and changed the photo in this case we would redo the design for each person at the moment of launching to piana or whichever ipf uh icfs program would be preferable at the time of the launch but this would be it and i think that's the main idea some example cases would be organization for simple meatball and chicken friday you know you could organize your goals with your employees uh with the console you can have specific error ids and the console and you guys have the employee power of this anterior id could also be used to choose your next employee so you can make volumes on which equally you prefer think that's about it i hope you guys like this idea and how we can all right thanks i had a little bit of audio issues so i don't know if that if everyone else did but um if you can ask uh open up to questions now from the judges guys sure hey hey yeah there was a stunning definitely a bit of audio issues uh-huh so uh a bit of flag but in essence like so so if i understood there's it's an id and and you can practically maintain like your c721 or like uh or [Music] i think we're having some audio issues again there uh yeah the first thing that we got to do is security develop oh yeah there is a great amount of lag we hear one word and then it just the word drags it's a very difficult about now is it better is it better yeah yeah okay sorry uh brazilian brazilian amazon rainforest internet so yeah basically we would have to work really really yes and literally literally so we would have to reorganize uh like stores or gift shops to actually start organizing this into a fourth industrial revolution like city so in in this case all of the cases we would have to pass in through a strong kyc before actually transferring this particular unique exclusive erc 721 you know so there will be actually kind of like an organized where an organization where you put in the documents the documents are seen by the person passed on to another one that designs the person takes a photo of the person at the moment and after that execution he receives his 721 by the mentor of that center of that center point so uh i believe that we could organize this and then use i did i didn't have time to actually hack totally avid governance but i really wish because uh until yesterday i was practicing this erc 721 id and your c1155 so let's say a population of a city is 2.5 million uh we would generate just not the terry id but the 1155 and these two would be like the entry points into using other governance and then maybe we can have an extra security stamp there before taking any loans out of you know by normal people or anything like that so i didn't have time to hack your incredible ave system totally congratulations sending the math is incredible i didn't have time for that but uh i was just checklisting before doing all of that with normal people you know sometimes we're talking about people that don't even know what internet is so if we give them such a strong and powerful system in their hands the checklisting to use it should be passed on you know so i was actually thinking about that's when i developed it i started planning the terra idea and i got to this point so that's pretty this pretty cool yeah i i think this this there's so much potential like it's always difficult data storing after the kyc and how to make it but one interesting thing about kyc usually is how to reuse it you know you do it once and you have to do it again and you have this tokenization your c71 so that's it that's uh that's something that's interesting development thank you i just want to say it's very cool uh i'm i'm curious uh i'm most curious about this people who build systems related to identification voting uh what are your thoughts on uh vote buying and delegation like would your system try to create systems to prevent it or would your in your mind should the system instead embrace it uh well the system is the people and you gotta believe in the people you know so when we're talking about governance and decentralized governance you have to also account for the human being the human behind the token you know so we have to really understand society and that's why we've given this power you know we we're given this developers to enhance people's lives and we have to understand that the people in the end are going to be the users so um i can't promise things like that you know we have to that that's an educational pro point you know then we have to talk about crypto education and how you to use these tokens and measure the education of the children and all of that is possible because you're gonna have you're going to have the erc 771 that's sold kyc and that's like something that you can use as information maybe so yeah uh it's it's a goal point you know we have to start smart cities at one point and i really believe that this is the go-to point you know where people can just have on the matic network or mumbai test network the ids and they have this extra security you know like okay give me your ids give me your this okay now show me your electronic id and it the person has it in the metamask you know so i think that's actually the point of the project you know using technology that is there that's been developed by extremely well-developed teams and just mashing it up together to create the society that i think it's possible you know i see i see it happen so that's the idea and uh that puts us at time thank you so much that was super cool and glad to see you're down there in the rain forest staying connected um now we gotta try to do something yeah take care bye bye bye our um our next team is um is fiber please uh share your screen and start your video remember to share audio we're not getting any audio if you could uh if you could unshare and restart your share screen and then before you go all the way through in the zoom after you hit share screen you hit share computer yeah sorry about that guys no problem we are team fiber and this is our market make 2021 hackathon mission our team consists of two people ben who worked on the web 3 data and logic the serverless backend and the react application and myself callum i worked on graphics and ui design as well as the price data api integration together we built fibre a flash loan analytics tool for displaying flash loans in real time fibre offers an easy to interpret summary of what happened in each flash loan transaction real-time data and interpretability are the core elements of fibre's security and analytics value proposition fibre was designed with two groups of users in mind the first are d5 protocol teams who need to understand how flash loans interact with their protocols contracts in real time fiber aims to be a security monitoring tool for these teams the second group is anyone doing on-chain analytics five aims to deliver understandable data in real time helping to understand what flash loans are being used for on the network which may be important in an investment thesis i will now go through our product demonstration this is the fiber app the most important part is the flash loan feed this fee displays flash loans in real time as soon as firebird detects them flash loan cards contain an overview of the flash loan including the date and time it executed the loan amount in u.s dollars the assets that were borrowed the transaction hash the block number and the sender address all of which are clickable and will take you to the correct page on etherscan the card also includes a list of icons illustrating the smart contracts that the flash loan interacted with we currently show icons for popular erc20 assets a tokens the two versions of ave's landing pool contract and various uniswap pools the search feature lets a user quickly find all the flash loans that have interacted with the specific just copy in the contracts address and click search we are currently building up fibre's library of historic flash loan data which will make the searching filtering and more advanced analytics possible if you want to return to the standard live feed after a search just click the reset button a user can also quickly jump to historic flash loans by using the page button and finally there are two useful indicators at the top of the app to confirm that things are running smoothly first a check to see if a web socket connection to the network has been established and second to confirm the app is up to date with the latest block on the network this leads us to fibre's roadmap firstly we currently only support other v2 flash loans but are working on supporting v1 flash loans as well secondly we want to add deeper analytics and also categorization of each flash loan and finally fiber will soon offer customizable alerts for d4 teams to help them respond to unexpected flash loans interacting with their protocols if you feel like aping into our base release of fiver you can put your email addresses on our mailing list here and we'll reach out when fibre is ready for its first users that was awesome thanks um open to questions now i could uh start i think it's a this is exactly area that you know a lot of there's like a lot of potential i i think there isn't enough tools at the moment to analyze things on chain and secondly to provide kind of like tools for the uh d5 protocols and the teams and whoever are the uh stakeholders and i think it's quite nice that you could actually see see flashlights and and probably there's other kind of interactions as you know you guys mentioned that you are adding more support especially like notifications and getting getting those notifications into all the way into uh sms so so practically many themes has very kind of like i would say like various ways to the wire die vault drainage the exploit i probably got it like two minutes after it happened or one minute after it happened but i didn't monitor anything like that so i got it from someone else uh and i happen to be awake but you know getting especially if it's your protocol you need to get the information as soon as possible to mitigate so the these kind of tools are are heavily important and extremely underdeveloped area so it was very happy to see and and uh and this this kind of product will have a long road map if you want to thank you thanks danny this is super cool i i i want to look at this now actually and read through them i'm curious uh just what kind of additional information would you guys think about adding next to like the uh flashlight analysis so we really want to focus on i think primarily the the security aspect of it and uh chatting to d5 teams especially those with high tbl in their protocols and probably loop in the auditors as well and obviously build in the the real time alerts so that we can then alert especially the teams and the multi-sig signers who need to act on this and maybe uh tweak parameters and shut down bolts um for example um but then once once we've got that to sort of identify and flag uh flash loans that do pose a threat um when interacting with these smart contracts versus ones that are perhaps uh harmless yeah i think this is amazing and like you know it's um like stanley said like anytime something like this happens it's just like an hour down to rabbit hole even from technical people so um totally appreciate that it's um you know it's very it's best used as a monitoring tool and can really improve the security of d5 protocols but i think there's a big educational element as well just making like this very readable to like common like the five participants so they are also aware of the the risks like you know as consumers and users or protocols so a great job thank you um yeah that was actually one thing we thought of after we made the presentation is uh if we could manage to interpret uh each flash loan and then sort of decode it into a more natural language description um it could one be very useful to analysts and teams on the security front but it could also be used as a um as an educational tool and perhaps so like as a side thing we could build out a kind of an educational series of like how one can go about doing their own flash loans yeah for example the y-die vault it had practically where 166 different transactions and 875 percent of the whole block that's one particular action transaction so definitely that will be something very useful especially if you can get others to contribute to to explain that's awesome that's great we're we're at time again but uh thanks so much for sharing that was cool um thanks guys uh our next team is team dvx if i said that right um that's correct i got it right and just share your screen remember to share audio d5 lacks tools to protect against and trade volatility this is problematic because it's difficult to hedge portfolios or hedge in permanent loss or even just speculate on volatility this is why we made dvx dvix or decentralized volatility index is a protocol that allows for the building of model-free near-real-time volatility index feeds of any decentralized or centralized asset that has a robust derivatives market using dvx we made an eth volatility index feed and a btc volatility index feed you can see these live at dvi x dot io to calculate the volatility feeds we pull real-time options data from darabit and exchange and interest data from ave once we have the data dvix then calculates volatility using a modified cboe vix formula the current gold standard the methodology of the calculation can be found in our github repo we also designed two simple tools for the uma data verification mechanism so that anyone can verify the feed or the saved data technical users can make a simple api call and non-technical users can input the values into a spreadsheet that calculates the index here you can see that i simply just paste the data into the spreadsheet this is all of the darabit options data and it automatically calculates the ethics index with these simple ways for users to verify the calculation and with the live index feeds dvix is perfect for making synthetic tokens on uma the best part about dvix is that you can make volatility feeds and tokens for non-crypto assets with all the hype these past several weeks think how incredible it would have been to trade volatility on gamestop or amc or silver dvix will give users a decentralized way to do this and uh quickly we we do have uh the synthetics from uma on coven right now but they're not in our video we were waiting on the price identifier to be approved by their team uh and also um the btc vix tracked the huge price movement this morning when tesla announced that they were buying all right all right now i think we're back in business guys i really appreciate that uh that's great that's great let's open it up to questions great good this is awesome all right there's another one that i i really actually like to use this uh i actually tried to get in i have a question related to the the mention of synthetic assets um i i tried to get in on synthetic silver uh using snx actually and i was i did but i was interested in the fact that basically their their counterparty is sort of just a giant pool of liquidity um so in this system who exactly would the counterparty be for such a thing like say i wanted to take a position on volatility of silver um would that just be somebody else in the market or is there like a specific liquidity provider for it yeah somebody else in the market so if you want to basically the way we have these structure now is that if you want a short volatility you're going to put up the collateral so if you think the asset is not going to be volatile um you'd put up the collateral and you'd mint the token and then sell it on unit to kind of really kind of make that feasible we have a very short duration for our tokens right now so one week out we thought if we put it out 30 days that with the volatility of the space nobody would want to put up the collateral that makes a lot of sense i i think it makes a lot more sense actually than synthetics that that that they're they're infinitely confusing that's this is much more reasonable yeah so practically like uh uh one thing is interesting like you know trading the the interest rate volatility and you mentioned you mentioned the the other that you guys are using but that's not actually the trading of the volatility of of also the uh interest rates or what's that also kind of like there so to come to calculate the the vix formula when they calculated it on on the s p 500 um they use the the t build uh interest rate the treasury rate and so you need yes understand what the rate is period the risk-free rate uh to be able to calculate what the volatility will be so if i were to have just placed that ethereum into hobbit or an interest you know what is that rate over the 14-day period and that goes into our calculation to understand how volatile it is yes yes pretty interesting uh uh have you considered actually also that uh you could trade trade the volatility on on interest rates itself because they do fluctuate quite a lot in india usually because of some farms or something but uh there's sort of punctuation it's totally possible to uh trade really the the volatility of practically any asset however the the way that the kind of cbo evicts formula is designed it's all based on derivatives so unless there's an active derivatives market for the asset it's not really possible to calculate volatility in this particular model that said we're looking at uh we're going to do different indexes in different models so right now we're using a model free uh calculation modality that's that's built by the cboe it's kind of the gold standard as as we said in the video but we're looking at uh lots of other mechanisms for you know including black shoals and you know lots of garch style models there's lots of different ways to calculate volatility and that's uh we're going to touch on a lot of them over it could be also funny to trade volatility on rebased tokens yeah that would be interesting for sure all right just about puts us at time if there are no more questions that was really cool much appreciated thank you everyone for all the work thanks guys our next team is uh crypto portfolio defy token you guys can uh share your screen and we'll feel free to go hello everyone i'd like to demo my work so far this is not a complete working app or fully functional smart contract just yet so my idea was to create an account that would represent a portfolio of tokens whether it represent an index of leading tokens by tokens by market capitalization or tokens from a given industry such as defy or privacy tokens i use scaf e4 uh scaffold eth exclusively to create the token and deploy the ex-tt token to the covant test net i also use scaffold eth lend to add the token to the ave lender platform austin griffith and adam fuller were very helpful in putting me on the right path and using the right tools that i needed to do that unfortunately with the ave lender platform i wasn't able to list the ext token i was just about to do that i kind of ran at it ran out of time toward the end so let's take a look at a demo of the app okay if you recall austin did a video tutorial with us uh about a week and a half ago two weeks ago and he showed us how to distribute the token to a vendor which was very cool and then have it run on covant so here we've got the exchange exchange traded token its symbol its total supply is 10 eth and here's our vendor here so in my wallet up here i have uh almost four e's and change almost four so that would allow me to buy up to that much amount of ext from the vendor so i'm gonna use i'm going to use one each i'm going to buy one each worth let's see how that goes all right so we're going to click send over here i'm going to bring up the old metamask confirm it it's going to go through the covan block chain which we all know is wicked fast see and if you look at our total we now have one eth additional of the extt token all right if i had a bit more time i believe i would have explored synthetic tokens i was just about to look into that i found out about that last week and i also would have tied in chain link oracles into the mix for pricing so when we were talking about the the portfolio of different tokens within that that uh that poor portfolio token the chain link oracles would have been really nice to update the pricing of the underlying instruments that were inside of the token that i was creating but uh i guess that that's for another time okay everybody thank you so much for watching all right thanks john open it up to questions thank you john thanks alex um this is really cool i mean i can see like you know um i can see like you know the convenience factor being like a really big draw for a lot of people like could you maybe share like you had a bit more time like what are some other things that you would uh you know want to add to the project and some other features that you want to build going forward and is this something that you want to explore further sure um looking at all of the other presentations it looks like fixed income instruments packaging them together into one token would have been a fantastic use for it and a really good fit for the ave lending platform uh i could actually envision um maturities from short-term maturities like a token that had that had those loans in it medium term and then longer term tokens um so you could really ca you could capitalize on the convenience for somebody who may not be you know as experienced in the in the crypto world as we are um very cool yeah i agree as well and also like uh it's pretty cool that you used to use cathode i mean i think austin uh pretty much much like data for this hackathon or somehow like wanted to at least release pronouns to make it easier to to kind of like bootstrap the whole thing on ethereum so it was it was amazing that you you actually used that and definitely that practically having kind of a basket is a good way to start something to build to build something and it's it's quite fascinating and i agree on the the fixed this is something uh very much needed uh fixed fixed uh loans something borrows in fixed income they fight just what if you want to say very cool uh i'm just curious what uh for like a first batch what what sort of tokens would you think of putting in such index uh i think i would probably do um they would have to be erc 20 so that i could use uniswap and i could use ave so i would think maybe a basket of d5 tokens might be the might be the best idea because if you had to switch in and out of positions and using uniswap it would be one platform that you could you could pretty much do all of them with so that that would be my first choice that's great that's awesome [Laughter] sorry about that can i ask you guys one quick question do i have time yes yeah um what do you think what platform might be the best out of everything that was supported in this hackathon which something like well i i can't say much because i mean obviously i uh obviously but you know give me the the fixed phones or we specifically i'm i'm sorry say one more time uh where are you referring to the fixed loans fixed loans or um yeah i'm actually like the everything that we were taught like we used matic we use scaffold e um uh yeah i mean which of those do you think would be the best fit into ave let's say i were to take it in the direction of using uh doing fixed income instruments in the token packaging them i i think having in layer two like in matic could be interesting thing you know if you package them and people can trade them because those things you the more frequently you trade the more frequent interest rate you have so i think that's quite quite interesting okay awesome thank you so much all right thanks john appreciate it that was cool uh our next team is um team ebt i think you guys are already promoted and feel free to share great so can everybody hear me don't just mic check this is eli yes awesome so what i have here is a bunch of food stamps so these are actual paper food stamps so in the us there's like 22 percent of the population that live on food stamps and and they and they still use paper there's like 128 billion dollars that's going through this system and one of the problems with the food stamp system is that you can't shop online you can't do any digital transactions you know it's still a paper system so i grew up on food stamps and we got a bunch of hackers together that were passionate about like social impact and we said let's build a solution um that takes food stamps you know into ethereum world and let's figure out a better way how to build the the whole food stamp system for the us so that's what we worked on and tony's gonna give a quick demo on on what we came up with on how to how do we go from paper to something you know that they can use digitally so go for the demo tony the first thing the user will do is to import their ebt card into our applications and they will see the total balance and all the card information right here so they have the option to send the money to their friends and family members and also they can see all the transactions that's happening in their ebt account on the right we can see this account summary so the user will have option to take their ebt money and convert it into a stablecoin flags or they can invest their money into experience so for example they have thirty three hundred dollars in bt and they invest in 100 in ethereum and they convert 100 to a stable coin and because the volatility of each student price they will have a readable it will have the rate of return around like 3.

5 for example and now let's look at the swap functionality so here's the main page where users can perform swaps so they'll first select um on the top the token that they want to switch from and then on the bottom they select the token they want to switch into so then they can enter the amount note that the exchange rate is applied on the migrate here and when they click swap and it process c and then we see the account details updated accordingly we also implemented a demo function of transfer so we use the metamask account and we import the account from ganache with some free users so when the user wants to send money to someone they first enter the address and the amount they want to send once they hit submit it would take them to management transactions and once we confirm the transactions um you can see the um balance is updated and the money is sent to you that address so this is our demo and thank you for your time awesome let's open it up to questions well hello and welcome to another linkedin live q a where i'm delighted to be joined by richard marsden he was the co-founder and director of a new company called true north digital how are you doing richard i think i muted that i think we're back now sorry it's all right okay another video sorry and uh you know hear what you guys think about this yeah i think it's an amazing idea because you know i still don't understand like how like we have a lot of legacy stuff in finance but it's crazy how much legacy we have in you know like government stuff and you know and and you know we have like we're from like i come from finland we don't have food stamps but we would definitely have different kinds of uh similar like like purchase coupons you know if if you as a family purchase something big and you need to get this like a coupon from welfare and you know everything is paper and also like even like with the copy and everything like we see things getting digitalized but you know it's still very legacy so i i think this kind of idea is is wonderful and when when this idea is taken further and and polish it very well you know this is something they can actually go and pitch to to uh governments and in local i don't know how is this a like food stamps a federal stream i don't i have no idea but you know this could be something quite interesting it requires a lot of work to get it exactly what the governments want but there is a lot of potential like in the future and i think the impact cost here is amazing yeah so it's like a real problem that's right now affecting like lots of people and that's why we said we wanted to build something people want and people on food stamps all they want to be able to do is you know increase power be able to shop digitally and we said instead of like you know just giving them a virtual card like on visa or things let's just jump them leapfrog them all the way into crypto and then we even had another couple of cool ideas like maybe there's like a way we can off of every transaction they do they can start converting money into a savings account whether that's fracs or ethereum or fx we were looking at coins um and we were looking into ethereum so but yeah tony might have some ideas too yeah this is really cool guys um you know great out of the box thinking solving very like you know intractable societal problems and i really like the like you know digital access angle as well um you know do do continue advocating for it and it kind of reminds me a little bit of like you know pull together in a lot of ways too like where you can just take small amounts and you know the the power of compounding is such that you know a small amount could be a big amount one day so um love the direction that you're taking this tony sorry about that i just want to make sure tony got a got a sentence in because i didn't want to hog up all the time man because he's a great guy oh no no cool hat i think um yeah go ahead okay yeah i just had a question i was curious if you've given me thoughts like how you would uh build an admin functionality i guess for the state for the token since like a lot of a lot of the way the the edt and the food stamp systems work is specifically built to like make it difficult to transfer them to other people or sell them or do anything interesting with them um yeah so so the food stamp problem is a big problem that has a bunch of different like aspects that we did not focus on um what we wanted to focus on is what the users like feedback we've got and the users they just want to be able to shop online increase their purchasing power and kind of like get into digital money so the government hasn't done anything good for the program in the last 20 years like they've disenfranchised the poor and they've the the financial system is rigged so that they stay poor so we said well if we were to reinvent the whole foodsnap system what would what would where would we reinvent it on and we'd we'd do it on ethereum that's where we would do it on so we we think we give the technology to people and then the people they can administer their food stamps the best way i mean as long as it adheres to the rules and regulations within the food stamps no alcohol no tobacco no other illicit products things like that but that's pretty you know doable that's awesome it's a it's an awesome idea i'm so glad you guys presented it we're at time for this um thank you for this presentation but really appreciate it great work guys we're down to our last two teams um so we'll just press on without a another small break if that's okay um our next team is ave credit delegation share your screen we can go i'm viraj anjin for the market to make hackathon i worked on away credit delegation away credit delegation allows a depositor to deposit funds in the away protocol to earn interest and delegate borrowing power to other users here delegator first deposits an asset to the away protocol he then delegates the credit to the delegate hence delegatey can borrow an asset from the away protocol it entirely depends on delegator on how we want to handle this if delegator trust the delegatee then he would not take any collateral however there is also an option for the delegator to use off chain assets provided by the delegate as collateral hence credit delegation democratizes d5 by allowing people to collateralize their off-chain assets to get exposure to the on-chain assets now let me quickly show you a demo for ave credit delegation on the home page the delegator first deposits an asset to the away protocol now the deposit is successful then the delegator would enter the address of delegate over here then we'll select the rate i have selected stable then he'll enter the amount that will be delegated here i'll enter 100 and for the token i will select die then i'll click on delegate credit now the repay was successful the subsequent improvements to this would be adding layer to support adding support for gasoline transactions and adding more features would be which would be useful for delegator and delegatey example grouped credit delegation this concludes the demo for away credit thanks thank you very much let's open up two questions i can start by saying that this this is an interesting um development because you know create dedication has been you know available in in the protocol of a protocol but then you practically have to resolve it yourself by going to eat your scan and finding everything you want to need so practically this is the only user interface to do great applications seamlessly so uh pretty cool that you you made this effort and and provided the user interface and uh yeah it looks pretty uh pretty simple and probably also you learned during the this experience uh at least about great delegation yeah like how the entire floor works and say i could even uh promote this and like explain this to other non-technical users exactly exactly so i think that was a good thing this is really cool and um you know could you maybe think about some use cases where people would want to use this and which might prompt uh integration with any sort of projects that you might have in mind so uh the place where i think this would be useful is like people have a lot of assets you know off-chain and they couldn't reach out to a person like you could have more feature like a group chat and maybe location based discovery etc and which would allow them you know to find other people who are willing to delegate the credit like say for example they don't own the food and exchange to gain exposure to d5 so this is where credit dedication would be reduced yeah i got it definitely i could see that working out this is cool good job yeah very cool demo uh i'm just curious what would you add next to it uh group b credit delegation and the maybe catalyst transactions and layer to support yeah that's cool that's great looks like if there are no more questions uh awesome presentation really appreciate the work and uh thanks a lot we're now down to the final team of our session today this is team zygo please feel free to share and we can start hello my name is james dawson and today i'll be introducing my hackathon submission zygo finance so what is zygo finance zygo finance is a fully decentralized priceless trading platform that was heavily inspired by the irma protocol zygo uses a network of bots and both an on-chain ordering system and an on-chain settlement to create a seamless trading experience zygo protocol incentivizes the bots to make orders on behalf of other users by rewarding them with the zygo token unless allowing us to create a fully decentralized limit ordering system that uses no price oracle the bots will monitor trades coming in and the price of the current orders and when the bot determines that the order is will be profitable including the zygo token they will execute the order on the user's behalf and i will quickly go on to the demo which i will show you the kind of ordering system in action so here we will select some ef and we will place an order for one ef and we want in exchange for our one e of one thousand die so once we approve both these tokens we will send the one ef to the zygote protocol which will be held in escrow and once we that gets approved and i lose my buttons uh yeah so that'll be sent out and then the order will actually be published on the blockchain that that says this order wants one e one e of two thousand die and the bots will monitor that order coming in and the price of a if to die and once the actual price reaches what is stated in the order the the bots will execute the order because they will send 1 000 die to the zygote protocol they will receive the one ev that was locked in and they will receive the zygo token as their incentive for uh processing the order on someone else's behalf um and this opens up a lot of really interesting and cool things that we can do with having fully decentralized on-chain orders allows us to actually use them on a use the the the actual funds to invest in a eos lending pool which you can see what i've done here is that actually when your order is waiting in to be filled you can actually earn interest on your limit orders as you can see that we've done here all of these orders have are earning interest on their while they are waiting to be filled so if you do a long-term limit order of the essay you want to buy wrapped bitcoin at a thousand die you know that might take years if not ever happen but you have ten thousand dollars now you could be earning interest while also having that limit order being placed and that is essentially the zygo protocol and i just like to say thank you very much to the youth global team um and yeah i hope to see you soon bye bye hey guys okay thanks james open up for questions this is really neat um have you sort of um you know just thinking through it um have you considered sort of like uh what it would take to sort of adding like to add any sort of time limit order and say like you know that 1000 wbtc is just never felt like is there a way to sort of recover it yeah you can cancel any order and retrieve your funds and the interest that you've earned because the orders themselves are nothing more than just data stored on qiyan it's the bots are doing all of the price checks and they actually have the ability to use any liquidity pool that they want to they're not trapped into it has to be done in uni swap or has to be done this so it's like they can yeah you can cancel cancel orders immediately and get all your money back and things you'll lose your psycho fee there's a fee to actually put um to create orders which is psycho and that is what essentially funds the system and the kind of tokenomics that would go to the botswaiters understood maybe like a fallout from that i'm just like you know thinking about do you see any sort of surface area for market manipulation of any sort um i i think it is reasonably full perfect but there is one price oracle that is used which is to determine the um the cost of zygote to weak and that is gotten from the unit swap power and the v2 pair so i use like a simple moving average to just get that current price uh ratio and then what the zygote protocol will do to ensure that bots will always um be incentivized to actually fill orders during like high gas it calculates how much gas the fill has cost and it will transfer that in and give you extra zygote to compensate you because if the gas fees are like 300 way the the minimal zygo reward is not going to be enough you need more to make sure that orders will always be filled regardless of gas price but that's the only kind of outsourcing kind of um price manipulation that i think but yeah need to be audited to be full oh this is awesome great submission thank you thanks it was really neat i'm actually curious why uh why it's being specified that it has to be bots taking the order like is there any would there be any value you think into just exposing like a ui or something for an order for normal humans absolutely it's just that um because i actually for that demonstration i was approving it with a ui so that the actual fill order was done with vi and i just would say it would be quite difficult to manage it but if people would if there would be an interest for that demand for it yeah absolutely really cool really cool uh yeah besides what was said would be cool to actually extend this to the of a collateral swap functionality if if if it reaches something swap it to something else uh the stable event and and maybe close partially your loan position if collateral gets into certain position like increase or decrease that could be pretty interesting i don't know if you have seen like other has this like a collateral swap uh in in the deposit swap by closing your own with the collateral where you can actually play with this feature i i think this is uh quite interesting because you could actually like put the orders wherever you want uh in in aggregator way that's that's pretty pretty cool uh yeah well is this your second hackathon right or i think second second yeah yeah i did space the x yeah which was the game very cool and that was amazing and that was the first time you you you cool yeah that's amazing this was like pretty cool the big d5 plunge so it's quite intimidating at first i was like what am i going to come up with so i had no idea but i'd say yeah it was good um it started off with the limit ordering thing and then i kind of realized that i could actually make interest on limit orders which i just yeah that's that was pretty cool that was pretty cool i forgot to mention like actually like they're generating interest there yeah yeah yeah that was that i was just like yeah because if you have the static funds like the problem with the the current limit ordering systems that i've i've seen they're all hybrids so it's like uh you have on-chain settlements but off-chain orders so uh kyber swamp for an example they have [Music] a bot that runs themselves so if you open up to having any one spot you're actually increasing the decentralized nature of the actual limit ordering system because they have a centralized point of weakness there um so it's that by incentivizing the bots more bots will come there will be better uh kind of competition um and so orders should always be filled uh hopefully i guess but that's awesome that puts us at time i don't know if there's any final questions but if not um thanks a lot james awesome cheers guys and thank you very much for judging us all and that brings us to the end thank you so much to the judges min alex and stani thank you so much there's a couple more sessions tonight and tomorrow of judging and then um closing ceremonies um this uh later this week thursday so thank you awesome as always thank you thanks thank you cheers awesome yeah awesome i i'll hit you on the chat raymond just stick around in the discord and uh okay sounds good uh wait also tomorrow we'll be joining at 12 yeah okay cool awesome that's fine sounds good thanks ray okay no problem