Judging Session 2 [MarketMake]

yeah so i'm recording um the attendees are coming in welcome everybody uh i think we have the first projects here that we can get started with um but i'm gonna do a quick intro with some slides and then we will start it off [Music] so welcome everybody to group two uh on the first day of judging for market make um hopefully you're in the right place and if you're not just reach out to somebody on the youth global discord and we'll get you in the right spot so let's jump right into it um this is the big well not the big finale but it's we're leading up to it um market make was a our first virtual hackathon of 2021 and we were blown away by the amount of people we had participating and from all over the world that's 490 hackers from 58 countries and 17 time zones which meant it was a whole lot of fun coordinating and uh we couldn't have been more thrilled with the results of 120 projects some of which you're going to see presenting in just a few minutes so i'm going to go over the format as you um may be aware if you've done beneath global hackathon before the way we do judging is four minutes for the video demo which teams will share on their own or speak over followed by four minutes from of questions from judges and then we'll take a two to three minute break every few teams so that judges can chat with each other and catch up on what the projects were and um you know just finalize their their notes and then we'll take a longer break halfway for everybody just so they can stretch their legs get some water that's everything um so for submissions the criteria we recommend to judges that they use is five-fold there's technicality originality practicality uh ui ux so how people use it and then the wow factor which is you know kind of a wild card um we leave this up to judges to decide how they want to how they want to use that wow factor but those are the five criteria that we suggest and um that they will be rating projects against and just generally we want to stress that this is not necessarily a competition a lot of hackathons uh are meant to be competitive and while people might come to it with a competitive mindset and there's nothing wrong with that most of our hackers are here to learn not all of these projects are you know looking for venture funding or to become businesses a lot of people are here to learn and build something cool they want to get feedback on their project and that's the main intent of what we are trying to give people it's an educational experience and something that they can walk away from having learned something and uh with that summary out of the way we can move the judges uh today we have lasik clausen of 1kx mark zeller of ave and joyce yang of global coin research and we are very excited to have all three of them here with us today and without further ado we can jump right into demos so the first team up will be of a liquidator i believe they are here so [Music] we'll promote them and then get started um if you if you are part of avi liquidator and you are here please raise your hand in zoom and that will help us locate you in the chat so we can promote you daniel i believe it's daniel working on that project and i see him yeah he's raising me right now hey guys daniel is there anybody else from your team or is it just you nope it's just me okay cool well i will yeah you can go ahead and share your screen and then we'll get started the other thing to mention is i will be myself or andy will be keeping time so we'll put um you know we'll put little warnings in the in the chat when it gets to two minutes to one minute and then when time is up so just for judges and uh any teams presenting just keep an eye on the zoom chat if you're unsure of where you are in terms of time all right and i'll let you start it off daniel all right great you can see my screen i can see it yes all right let me get started all right hey everybody my name is dan kirsch and i built an avi liquidation bot uh during this hackathon so basically what it does is it just monitors loans uh to identify ones that are unhealthy which are under collateralized and then liquidates them uh there's two components to this uh first is the uh the one that does the node.js app that does the monitoring uh and the other the other one is the execution of the liquidation which is the solidity contract so first talking about the monitoring application uh it basically queries the graph for loans calculates which ones are unhealthy it'll then estimate profits for them and if they are profitable then it executes the liquidation and profitability takes into account the cost of uh having a taking on a flash loan the cost of doing any token swaps um as as well as gas costs and then on the the solidity contract what it basically does is opens up a flash loan pays off the or liquidates the unhealthy loan takes those tokens that are in the collateral token it'll then use uniswap to swap them back to the original token to then pay off the flash loan and any of the profits get sent back to the owner of the contract so going to a quick demo here um give me one sec while i share my screen okay so hopefully you're seeing this and then i'm just going to go ahead and kick off the nodemost app this is querying the graph and then returning unhealthy loans here so you'll see here that it found 313 loans and this is off the coven network uh four of them were unhealthy and now it's listing out these unhealthy ones uh so this is this is an example uh one that i'm going to actually uh execute on is this one over here uh so it has a health factor uh lower than one it's uh the liquidation is going to be an ave it's going to be paid back in w eth and unfortunately it's going to be not profitable but this is for demo purposes so then um going into the the solidity contract so i have everything set up over here already that matches the information over here so it's the user ideas 0x f4 that's right over here and i'm going to go ahead and i'm going to hit transact and cross my fingers and hopefully we will this will work here okay looks like we had a successful one and um quickly you can see that flash phone was in ave tokens uh paid uh paid out to me uh the loan was uh paid back we received wwe and um swapped ave tokens and however token gets paid back to the flash loan as well as profits going back to the owner and that's that's basically it um overall challenges is relatively painless to use flash loans and work with solidity which was very surprising to me despite all of the cryptic errors um really my biggest challenge was on the node.js app trying to identify the optimal path to do to swap back from the collateral to the original token i still need to wire up the auto liquidate but the two components are there so just a little bit more time thank you very much um it's just something currently that is i mean have it's been live for a while lots of liquidations is it just that you wanted to just have that experience or mark and you probably know this is there still that liquidation ecosystem not not that mature around outfit so the ecosystem is very mature but it's like an industry right now and uh we didn't have as much uh as known that open source tools that anybody can use and deploy because right now the industry they don't share the tools because it's oh they make money so already daniel thank you for building an open source tool that anybody can use and deploy and try to optimize and build up on it and if i may maybe another question danielle what do you use for to you know the profit calculation considers gas and just getting good gas what do you use for that because that's uh surprisingly hard to get yes it is uh so i'm just using gas now uh so they're api uh to pull that in um and i'm taking into account the uh the cost of instant gas the fee for like you know the instant processing hi daniel is this your first project yeah in in crypto yeah well kind of i uh i enrolled in the last hackathon and i start that's when i started and i did a graph uh project which i never actually completed during the hackathon so this is really my first end to end project awesome that's really cool well done well congratulations welcome to the avefa thank you for building on ave and uh also my congratulations on using the graph to pull the data uh on using uh the monitoring of the cost of swapping the cost of fees a gas no api that was very smart instant it was very smart as well because it's a flashlight it's a race and you have to be the first to be mined because there's no bounty for the second price in a liquidation so that's super interesting i will recommend maybe uh to look into dex aggregator like paris up and one inch in order to have the best rates for the swap uh maybe uh that's area of optimization and improvement but yeah you did a very good job uh i have one very small feedback about your your application uh the link of the you you shared was not updated so please fix that for the station it's just a detail so we can check the code directly and everybody can see it thank you very much for your watch thank you thank you very much any ways you can think you can make this better yeah um so my thought for the next piece is going to be um trying to hook up to or price articles so that i can have more up-to-date pricing on the tokens and so i don't have to wait for the graph to update what the health of the loan is and i can actually get ahead of it do my calculations beforehand the other piece also is on every every call that i make to um so i'm monitoring this uh you know periodically to see to see the health of the loans every call i have to call uniswap to calculate the optimal path and that's actually really expensive it takes a while to get the optimal path and so i'd like to cache those uh the paths for each of the tokens and only periodically update uh check to see if there's a change in the optimal path alternatively it could be uh you know a one-inch call but to that to that piece on the one inch i ended up i i did look at one inch um just very quickly and i just found better documentation on the on the uniswap side so i went with that in the interest of time yeah this is i mean i'm looking forward to you building this out because i mean it sounds like super useful and for the ecosystem and and um yeah good job awesome thank you great thanks uh daniel thanks for being the first to present um really cool project and hopefully you keep building on it are there any final comments from the judges or any any questions they have left all right great thanks again daniel thank you bye all right next up is flash daddies and i'm going to be sharing the video for them i think we've got everybody here right [Music] hello hi hi hi team so i'll pull that up now just bear with me cool thanks trent yeah we had some issues with audio no good start no worries introducing flash daddies the white hat mafia so front runners are a problem in the ethereum space genuine arbitrages who spend time and money on researching prospective profits are met with failed transactions and wasted gas fees this is due to front-running bots monitoring the mempool introducing flash daddies we're illuminating the dark forest by catching and exposing front runners we play front runners at their own game with reverse engineering and we have great meme potential so our main ideas the general approach is using reverse engineering by monitoring and replaying transactions in the mempool if the balance is profitable we store the transaction hash and gas and if there's a new block with a higher gas price we can run them as a front runner our targeted approach examines contracts such as rva to find regular transactions with the same input data if the transactions are identical it's flagged as a potential front runner and we provide a leaderboard to expose fundrunners who are branded with a shame token so the architecture we use ganache in particular the cli with fork option to connect it in viewer or our own main net node in order to get the blockchain and the mempool and we use etherscan api to get the api for the smart contracts so why are we different we're exposing front runners which has never been done before and we asked the crypto community on twitter whether we would they would welcome our project and 71 said yes and thank you for listening hello my name is tom and i'm one of the developers working in the flash studies team i'll start this program running whilst i explain how it works first if ethereum blockchain is forked and an account with a sizable quantity of tokens is unlocked giving us access to this liquidity we then take a record of the various token balances to give us starting balance next we query the mempool for pending transactions and iterate through them for each pending transaction we obtain the contract and method and rerun the exact same transaction only from our newly unlocked account once the transaction has been processed we recheck the token balance and see whether it was profitable for profitable transactions we store the transaction hash and gas price from the original transaction this allows us to look at newly mined blocks on the ethereum blockchain and find out if this transaction was front run in the case of a front run occurring we send the offending account a shame token via matic this special token is a modified erc72 token that is minted for each recipient and prevents the receiver from sending it on tallying up who has the most shame tokens allows the score of the most prominent runners and this is a demonstration of our leaderboard thank you very much for your attention well um my question is so at the moment the uh the purpose is it goes as far as saying okay at least we're identifying here sort of the worst offenders uh yeah so what was the first part of the question i was just i just wanted to see if i understood well that basically so the outcome is that you you get to the point where you have at least identify addresses and can say so that's okay these are the worst offenders yeah true do you have any ideas if you have more time you have any ideas to go beyond that because they can still do the damage right definitely uh so we did start off the hackathon trying to work out a way to stop frontrunners but um it's pretty tricky to do without massive collaboration or change to the protocol so um it'll be nice just to have this kind of leaderboard so that other companies like exchanges could see it view it perhaps look at the most prominent ones and maybe kind of downgrade them or down rate them or shame them but without changing the protocol side of things it's really just a light-hearted way to kind of just that the people who are kind of ruining the space or making a dark forest especially that yeah i have to say i i love like the id it's very very orgy original and you should push it even further like deliver all words because most of these address at the end of the day they are known like we know the ntd behind them so you can like directly do memes on twitter and things like that there's a lot of potential into it and it's pretty fun uh just one technical question i have uh uh did you think about filtering out what we can call the self function so basically when you use the same nouns of your own transaction but you increase the gas in order to make sure your transaction passed faster so you don't shame yourself it's your system uh no we didn't think that's pretty good idea though mark yeah enough yeah try to check if the front runner has the same from address if if it's a self transparent it probably doesn't deserve some change yes so we're also running we tried running our kind of algorithm on the already mine block and there we could exactly check the from address and then kind of validate if the source is different than the the front run transaction with a little bit higher gas price for example yeah perfect hey tom i think you entered the in the last eighth global hackathon right definitely yeah yeah i remember you um you probably presented another project that i don't think it was this one um it doesn't make sense to you presenting this one but i do remember your pitch from the other one as well uh it's quite again yeah it was demystified similar type of thing like trying to clear up the space but uh yeah different projects yeah i really like the presentation i mean it sounds like you guys put a lot of effort into like presenting the idea and kind of and and it sounds like there's a lot of stuff that you could build out from the dashboard and definitely very promising thanks joyce all right any final comments or anything the team wanted to say as they wrap up i think there's a good synergy opportunity with the rec newsletter when the front runner failed you can send in like good uh good try and uh do do send him like a wreck token and say good try but he fell the original guy won this time and it's actually a good idea and probably get get uh let nance know about this and then they can label these addresses yeah definitely think about that thank you thank you for the feedback guys thank you this is a cool project i think it's the first time i've seen shaming as a as a anti-front-running strategy yeah so we had the problem with if we didn't really wanted to pay fees for those shame tokens that's why we chose the matic network to maybe somehow lower those so i think that's worth mentioning no that makes sense you gotta be practical all right very cool thank you for presenting guys good thanks thanks bye next up is stable yield with games oh he just dropped i'm assuming that's uh either he was demoted or there might be an update issue let's try that again [Music] he's back he's back and muted there we go here we go hey what's going on great cool let me just pull up a screen share all right i'm ready to go cool hello uh east global hackathon judges uh i am the developer on the stable yield protocol uh so what i'm going to go into due to limited time is go directly into this application and demonstrate how this protocol simplifies the user experience around stable tokens the front page is simply an introduction into what it does it shows what you can start earning on your stable tokens and gives you some of the fundamentals but this heart of the application lives on the dashboard so what we have in front of us is a custom built smart contract it's called the stable yield vault with credit delegation and what it allows uh what it facilitates is a mixture of the moloch dow and a wire iron vault so essentially what you can do is deposit your stable tokens you get a share um equivalent to how many stable tokens you've deposited that are already in there so as uh to demonstrate this i've already deposited five thousand uh price per share is one total share is five thousand et cetera et cetera what i'm going to go ahead and do is once again deposit a few more stable tokens to demonstrate what's going on in real time so what i'm doing right now is depositing die that's currently on a hard hack mainnet fork and what's going to happen is my shares will increase and what i now have is uh the vault balance has increased in addition to we're seeing that interest that has already been earned uh from a couple of minutes of my stable tokens uh being deposited right below is you'll see a list of the approved stable tokens that are allowed to be deposited into this vault and so when i deposit a stable token uh it'll instantly convert and die using curve and then deposit it into this vault and what the focus of this application is anybody can just deposit collateral into ave and that's great but a fantastic feature is being able to switch your collateral for the highest earnings stable token so as we all know ave the lending protocol switches uh to different tokens at different times so what i'm going to demonstrate is the ability to let's do tusd is swap the dicollateral for usdt and then redeposited that back into ave once again getting a higher return on my investment so let's just give it a few seconds this will pop up and what this confirmation is basically confirming is that we're going to now swap that die for uh true usd it's a higher apy that's fantastic my shares haven't changed my price hasn't changed uh everything's going great next what is really important that i want to demonstrate is the ability for users to who are in this protocol to uh provide credit delegation from a multiple user perspective and this is where the moloch dao part comes in because this smart contract is a mixture of molag dal and a yearn so i'm quickly going to add my address how many lo how big of a loan i want uh select my asset i'm going to do zero interest and i'm gonna do variable and then i'm gonna just add uh an ipfs hash this will be you know the real loan that you're requesting i'm going to confirm uh that's great now my proposal is in i'm gonna go ahead and sponsor this proposal and only someone who has tokens can sponsor a proposal fantastic that should pass now and now what we're seeing is uh this new loan which is powered by the graph showing up in this application and what you can continue to do as this proposal goes through uh multiple steps um and has voted on will eventually pass or not pass and then that borrower can then take that uh loan and taking that loan for multiple people and use that however they want so i know i'm running out of time but thank you for checking out my decentralized application i wish i had more time to show everything uh that's available and hopefully during the presentation i will uh because it is quite a cool uh application speed run of the features nice job yeah i thought four minutes goes by so quick i was i thought i had more time when i was seeing the presentation i was like how many people are in dusty is that really one-man job yeah i've been working in the space for a couple of years so yeah super impressed impressive understand how within the two weeks of the hackathon what what did you did you build the whole entire thing or did you uh what were the components that you built within the hackathon time frame yeah so i basically built the front end and the smart contracts on the graph i have experience with all of them so it's more just like reusing information i have um most of the time was really spent on the smart contracts and figuring out when you have a loan i have to lock people's shares so they can't withdraw and basically ruin the health factor for other people within the vault and then figuring out how i like check the rate at multiple different times so a lot of time with smart contracts and then i really wanted to provide user experience for them a significant time too on the user interface but mostly smart contracts yeah do you think you're gonna go ahead do you think you're gonna continue working on this or uh yes i definitely want to um i want to focus specifically on stable coins i want to see if people are interested in the credit delegation but i definitely want to continue on this project in general very cool you know so i'm impressed i think you are the first one that uh allows uh users to migrate full position so you can swap collaterals you can do that natively on navi but swapping thanks to create delegation uh food polization even if there's some borrow happening that's i think you are the first one that managed to do that so i'm super super impressed on it yep and i i wasn't quite sure how you guys were swapping or if you're reaching out and so like i'm using curves so i wasn't quite sure where you guys were getting collateral but curve made the most sense for stable hands for this one kirby's the best how are you thinking about kind of next steps in terms of getting getting folks to deposit and then use the product yeah so i think the biggest one is um facilitating a little bit more the automatic swaps so like you know instead of everyone paying gas fees to swap their different stable tokens at different times you know there's a real benefit that we've seen with urine where it's like everything's automated for you so what i want to figure out is just doing that automatic switching and at what price should people be rewarded um because basically anybody can switch to a higher yield token the only requirements right now is the yield being higher so like i can't automatically go lower i can only go higher um and then i'm thinking about like do they get shares do they get stable tokens so just figuring out that automatic part and then kind of promoting it to more people cool yeah and osha engine was uh yeah very cool as well and all challenging was the integration of monologue um you said what was the integration or just oh challenging because it's like uh quite a complex contract yeah so i actually didn't take all of moloch i only took certain parts like i ripped out parts that your canceling proposals and a few other so i didn't do it i basically took parts that i needed step by step and then change a few functions and obviously you don't need to stake loot and shares and all that so it was really only like the proposal processing and then just managing proposals and then kind of everything else was left out yeah that was a bit of a headache to go through my luck congratulations for doing that yeah cool thank you all right time's up all right thank you awesome appreciate it yeah see ya thank you thank you appreciate it later all right uh we're gonna take a quick break just for the judges to reconvene um panelists uh or rather in the panelists chat i'm going to drop a a link if the judges we're going to mute you here if you click that link just join that google meet um and then you can talk really quick there but we'll mute you here all right uh we are back our judges had some time to chat and now we're gonna jump back into the next presentation uh let me make sure joyce is back um before we start though all right i'm back sorry about that sorry did were you you weren't able to join um but we'll work it out for the next one i yes yes sorry no worries wait for a second uh so next up is paul um i think he's been promoted um i promoted him but he's no longer present i'm not sure what happened yeah it looks like he got kicked or something we'll see if he rejoins in a second i'm trying to join the google hangouts it's not letting me oh um yeah i don't know what the issue is we'll work out the kinks for the next one but um we're gonna keep going with teams presenting okay april is writing to us in the chat yeah paul i see that you have rejoined but are you unable to join as a panelist ah it's crashing hmm it should work in the browser do you want to try and join there uh depending on how long he takes to rejoin maybe the next team can get ready i think that's revert just be ready on deck um okay mario yeah why don't we why don't we jump to mario and we'll try to work out um what paul's issues are so [Music] here we go mario uh are you joined are you ready to go hey man i i think you were gonna help me out with the video because there was some some sound issue but yeah yep i see the note now let me pull it up and then i can share that for you thank you hello again mario hey mark you already know what i'm going to say thanks for that shout out on twitter that was uh really really amazing all right so yeah just for judges note that we're jumping over stonk master and going right to revert and i'll share that now [Music] hi we are rivert and what we built is an analytics tool from default liquidity providers so currently a liquidity provider might have his or her assets divided across different texts and properly calculate the p l for any position you don't normally have to take into account the current uh value of the underlying assets but also any possible fees or incentives that um that the positions may be accruing and also for managing risk it's important to constantly monitor the volume and trends for prices and so our solution is an app which is currently available on the web you can reach us at rebirth dot finance and from there you can connect um your either metamask or purchase wallet for this um demo we're going to use the nuvi dot eth account and this is where we query on the blockchain to get all the relevant data and from this uh we construct a total aggregated position for the account on the top you get the total returns for any open positions or you can toggle here to get a also on the aggregated historic um exited positions and this gives you on a total gas cost for for um for any relevant transactions and the 12 staking rewards that your positions might have captured the piano from pools which is only um the pnl from um from the assets invested and assets uh withdrawn or currently underlying and the total p l which will include the total gas costs and and also the staking rewards your position might have occurred so um for any position you get two sets of metrics on the left side are the metrics relevant to the position itself so the current amount of underlying assets what was originally invested or withdrawn and the difference between this and you also get any claimed unclaimed rewards your lpm might be accruing and the toll on you is the value of this on the right side you get metrics which are relevant to the pool itself so like the 3d volume the reserves and the volume to research ratio which will inform what kind of uh fees you might expect to get per laura invested you also get the three day prices for the underlying assets and the price diverges between this which will inform what type of the verge of those you can expect you get a position lock which includes a link to all the relevant transactions for the for the output tokens in questions including uh what contract uh the lp tokens may be currently staked at if that's the case and uh in the pull history section you get a nicer visualization of the of the pull metrics uh commented before and yeah you can also get the same thing for any historic position as you can see here and uh if you go to our about page uh you get a little better explanation with formula of how we um compute all this uh data and so some things we are uh didn't weren't able to complete was uh obviously integrating on different exchanges also building an index of pool by historic l's and uh maybe an option for managing and entering positions from directly from a ui there's other uh interesting possible ideas like uh offering a way to hedge for divergence losses with with on chain options and of course uh personalized personalization based on your positions pnl and that's all thank you for your time this was fun right so this is super cool it's extremely useful uh we're dealing with this all the time it's it's a little bit contested so there's api dot vision there's liquidity folio as well they kind of do these things what what they don't consider is the apys including extra token rewards and so that's something actually that i think might might go down or maybe like focus a little bit on that because this is something we we're doing at the fun it's just actually figuring out the real fpis you know pulls alone but then also rewards and then things like how do you calculate the reward do you calculate the value of the tokens the second you get them or when you withdraw them or you know so it's it's definitely um i don't know if there's no actually i think there's quite a lot of people who have this uh challenge just a bit more professional you know kind of because you can't trust the apys on the pages of the projects themselves a lot of times they're pretty wonky um so yeah very cool super useful uh we'll we'd use this right away and we pay for it with the fund as well we don't care like this could be 500 a month it's worth it because it saves like three days uh uh you know especially when it's more obscure things so i think uma farming was really quite uh difficult to calculate and nobody had this automated well what are the kind of good feedback like what could be a better feedback that's saying that i'm already a user like there's nothing left to say like yeah i'm impressed by your work i can not wait to to see how you will iterate up on it and i will monitor closely your success and progress thank you so much both of you and um yeah uh definitely um calculate there's like a lot of things we just i just decided for like for example calculating the rewards based on the current price of the tokens which might not be actually true and there's like ways to maybe um figure that out like see if they go from the reward contracts to to uni swap and get sell but i think the the ideal solution for this or or more um better way to implement it would be to have uh interaction with the user so they're more entertaining with no oh you just um claim some rewards did you sell them at current prices and so it's gonna be sort of like an automated but also manual uh sort of a solution i i think yeah i think maybe um maybe also allowing you to toggle to basically say okay api rewards as of when you receive them or for example when you've climbed them right because i think especially uh folks that have to consider taxes they're quite uh you know you really have to know when you claim it because that's when the taxable event is right um so that could be like an idea just to you know have totals usually decided if you consider this api if you consider that yeah yeah thanks thanks for that feedback yeah i agree with what mark and lassie said i mean generally you have the the you you already built this out you just need a little bit more tweaks and then what's the next steps what are you looking to build out now or for the future and other other pools or or other functions yeah like i think the the next thing on our plate is uh some sushi we ran up all our twitter account and it's like the clear winner of as to what the deck should be next so that's uh hopefully gonna be um our focus for the next uh week and uh and and yeah and then just iterating from from feedback from our users and seeing what um what else we should be on adding or improving yeah good job maureen you're sharing it with me already thank you so much yeah yeah one question for me mario uh are you handling all the curation yourself meaning you're you're finding the projects to feature um it's sort of but it's sort of automated like we we have like a list of um of apis like the master chips one which got a lot of contracts synthetic rewards and then when we see a new um a new pull like a new lp token we see if the lp talks were transferred out and if the the contract where they were transferred out conform to one of these apis and then we just a lot of them do and the switches know oh this is these are rewards and we check transactions from that rewards contract to the to the account and that's uh basically how it works but it does involve um money like this weekend uh we added a few um a few new ones that that we that had to be manually added the long tail were it's gonna be like hard work but um it's the job oh good yeah that's what i was curious about all right we're gonna move on to the next project thanks for presenting mario thank you thank you mario bye thank you so we'll wait for the next team to get settled um yeah obviously we're gonna we're gonna have to get to paul in the next one after this while we still resolve some issues all right hey alexi how are you today finally you what's a very nice teacher it's your today thanks um sorry which which one is uh which project is this now right so this is len 2 protocols um in air table it should be revert we just finished and now we're on uh lend two protocols or l2p finance and i think they're all here so i'll let whoever's gonna share the screen and present it go ahead and do that hi today i want to showcase you ltp.finance the new way to scale your credit delegation credit delegation is a brand new feature from ave you can now earn an extra yield on top of the one from other protocol by delegating your credit line however delegating to a trusted circle is not scalable as soon as you decide to delegate to credit line to appear outside of your trusted circle you are exposed to real credit risk in addition to counterparty risk if you go for a delegation to adapt the counterparty risk worsens enter l2p which stands for land2 protocol with ltp you can earn the extra yield and lower your risk first because the your borrowers are a list of dapps that we have audited and screened secondly because ltp diversifies your risk or algorithm allocate your credit line to several depths minimizing your exposure to a particular counterparty with the devs reputation at stake along with the risk the diversification and to be easy place to do credit delegation n2p is also the solution for depths today if they need liquidity they can either alternate with mobile immobilizing collateral or with time constraints using flash loans l2p brings liquidity in the long run with no collateral needed how does it work on the left three peers decide to deposit die and then delegate their credit line via the l2p platform front-end application the front-end hits or smart contracts lt or l2p smart contract that dialogues with the avid decentralized learning pool on the right adap wants to come in and wants to borrow for that we have developed an api it launches an algorithm off chain that will call an l2p smart contract the algorithm will spread the debt on a certain number of peers and transfer the funds needed for a dap the dap has obtained liquidity without collateral peers will receive an extra yield and have reduced their risk this platform has been developed and designed by the full stack dev team with business oriented mindsets now let's go on to the demo before the demo we have prepared a setup where two delegators deposited respectively two thousand die and 1000 die on the platform now we're accessing the app as a third delegator that wants to deposit 2000 dice as well so we can see that first we need to authorize the platform then delegate or credit line and then we are able to deposit all days onto the platform so you can see now the deposits have been updated and the earnings will start to grow as well now adap wants to borrow 1500 we will switch to the account of the first delegator to see the result of the loan being displayed onto the delegate of dashboard to do so the app needs to borrow using our api after sending a request we can see that the first delegate or has successfully loaned the 1500 to the app now the first delegator wants to withdraw his or her endings so you click on the withdraw button and since the first delegator has an ongoing loan our algorithm will calculate the best repartition among other delegators to split the debt since the second delegator deposited a thousand die and the third degree gator deposited 2000 died the repartition should be 500 die for the second delegator and a thousand die for the delegator now we can see that this 500 dies have been uh loaned to the second delegator and if we go check on the third one we should see a thousand die uh displayed under the dashboard and that's what we can see right now finally the dev decides to repay 600 of its debt after using our api we can see that the loan on the sub-delegator will have decreased the of 600 die on his no 400 day plus the interests yes so um this is for the presentation yeah very cool extension of of this nice kind of avid credit delegation to become a platform and you're building on top of that yeah that's i think that's why we call like uh defy the future of france it's pretty obvious now thank you guys for what you built and the credit deviation was very intended to be something like a financial meter where you can leverage on to build your own financial service and you you will allow a lot of people to just pull their phones together in order to other people in the ecosystem to borrow from them and access them with better financial that's super interesting and i want to to check the progress after the academy of the project thanks a lot hey guys i'm trying to sorry for the background noise i'm trying to connect my metamask is this is not ready yet right it looks like it says the network is not allowed um are you using it on coven oh no no i'm not okay oh yeah for now we only support common sorry okay got it it sounds good this looks really awesome i'm definitely looking forward to trying it on my neck cool yeah i think there's going to be a lot of demand like a lot of dapps are looking for financemen and doesn't uh all want to do cell tokens or things like that and i think they will be like the perfect candidate to to access this feature and this protocol and uh for example like coin gekko was looking uh at something like that and i think they could be like a great first user so yeah there will be a lot a lot of potential yeah thanks we're still looking to add a lot of new features yeah definitely yeah let's wear some propositions and stuff like that have you guys worked together before is this that you guys kind of all met through this project um no no we worked before together and uh we actually uh stumbled uh [Music] we never worked on defy and uh so we thought it would be a really cool uh moment to get to know uh how everything works and uh try uh new stuff on rv and stuff like that yeah this is super cool a really promising team also so definitely looking forward to kind of you guys building something cool thank you all right i think there's only a few seconds left so if there's any final thoughts from the team um unlike what they took away from it or if are judges who have any final comments we can get to that anything from the team you want to say um nothing special just that we already plan on working and uh on continuing the project and working on other features such as adding uh other assets or lending strategies building a dial on top of that and adding straight uh new ways to manage the white list of taps so yeah there is a lot of stuff to work on yeah i was going to say definitely continue working on this really interesting space thank you very much thank you thank you team thanks thanks for presenting all right the next team up is sake we're still working on paul i think he's going to go back to the green room if he hasn't already and just trying to work out some of his issues but we're going to move on to sake and they will be joining now uh oh looks like we've lost mark all right let's see what happened to mark that work there it is i got kicked i kicked please don't kick all the french at the same time that's not very nice there's a quorum you know yes all right i think those are the three team members right if somebody from the team can just give me a thumbs up that they're all here and i will share the video for them igor you good or roberto anybody okay cool [Music] sorry i'm not getting any sound right now give me a second please and uh i think uh i had issues earlier uh with uh sharing screen and audio so uh could you uh could you show our video please yes uh if you're having issues with sound it might be bluetooth headphones sometimes i have issues i don't know if that that's what you have but i think i fixed it okay cool all right then i will go ahead and share that now [Music] hello this is sake we're creating a trustless system for under collateralized loans through a credit score this is the sake team defy space lacks under collateralized consumer loans we believe people need access to more leverage for d5 to compete with the traditional financial system this is the current interface that the user sees once they connect to a lending pool that they like the terms of and here they can enter the credit tokens that they're willing to stake as well as the loan amount in way and their loan length they then go through metamask to create a loan confirm the transaction and once that is loading uh let's take a look at this diagram so we start here with the borrower the borrower goes through the front end and picks the lending pool they like once they have picked the lending pool the lending pool generates a loan contract for the user which takes the funds from the pool and gives it to the user and the user puts up credit tokens to stake as collateral and let's refresh the page because the transaction has been confirmed and we see here the loan contract that we have created this is the loan amount the credit token stake the interest rate and the length of the loan we then go through metamask again to initiate this loan contract because we need to fund it with a fee and the fee is around one and a half percent so we will send a little more change the gas limit to be higher while that is going on so the custom lending pool is actually created by the lender who chooses their desired risk parameters and once that money enters the pool they receive like a certain reward that they choose and it gets deposited into an ave lending pool which then gives it to the borrower through credit delegation so the lending pool vouches for the borrower so now that we have confirmed this transaction we look here and their credit token balance has been hit since they have uh currently taken out a loan this is the remaining loan balance so this is counting for the interest rate and we have sped up the time so now we're going to pay off this loan by simply sending money to this contract so we're going to send money again to cover it and i will send extra because whatever is not uh necessary the contract will just send back to the user so now that that is loading now since it got confirmed let's refresh the page and we see here that they have gained 12.2 credit tokens and now the loan has been paid off completely and that is basically it for the user interface and now what we want to work on in the future is implementing identity solutions such as bright id or circles lending pool aggregator to combine the power of multiple lending pools implement a governance token incentive mechanism as well as add nfts to track uh average loan activity in order to prevent uh some civil attacks from the system thank you for your time and this has been sake cool thank you um i have quick question for my understanding so ultimately for me as a borrower i still have to put credit tokens as collateral yes but they don't have monetary value they're just earned through the system through paying back loans some kind of reputation system right yes and how do you bootstrap that uh we wanted to initially start with uh over collateralized loans and eventually you can work your way up to one x and then over one x okay yeah because that's very uh very long range attackable right where you just kind of because then the idea is the is i think they were called telly or something under san francisco then the similar idea that at the beginning and so every time you pay back that sort of you know becomes part of your under collateralized balance is that correct right and then and roughly right and then well at least that's what they had and then and then basically but it just meant that you just have to pay back for a while and then at the end you can you know exit without repaying yeah the worst fear for us is actually another platform just like us that the user could also borrow funds from uh under collateralized and just you know go back and forth from one system to another and just create like a massive bubble of death that eventually blows up got it yeah okay and how do you prevent that exactly in your system i think we need to add a lot more features so that's why we wanted to add like uh some way to have a governance token to maybe better align incentives of borrowers and lenders create some sort of an insurance fund that would be paid into over time so that we maybe try to make sure that if you are able to borrow under collateralized loans you can't borrow more than you kind of paid into the system through fees to have enough insurance in order to like handle these types of risks but it's certainly a challenge uh also uh i just wanted to add that we're also trying to take some um nfts to track like the loan activity so if you um usually take like a thousand dollar loan you won't be able to get like a million dollar loan the next day you know it's gonna be like consistent amount of loans yeah it's definitely a worthy space uh experimenting around i would just put like big disclaimers on it's alpha and risky but it's uh yeah it's a good space to experiment it i agree with that you are you are pioneer guys let's try things maybe here a few things will break but uh we have to to build things excuse me choice yeah yeah no worries um i mean generally yeah i agree with the what the guys said they this is super interesting and what a lot of people are exploring i think you guys should talk to a lot of the lenders and see what they're doing on their end and see if there's ways to partner or ways to kind of just learn from what they have built and their the activity and the users on their platform and their takeaways there that would be really helpful probably for you to build out this lending tool at least build out things that are going to be super useful for the users that are already you know are lending and borrowing on the space but super cool i think you guys thought a lot of this stuff it's a very like complete project from my my perspective so thank you so much yeah thank you all right if there are no final comments we can uh wrap there thank you for presenting and we're gonna move on to um paul yes hello it's funny walking hey glad you're glad you could uh successfully join his panelists this is good uh and i believe i'm gonna share your video uh i can do it i think it's uh okay great um and then after this we will take uh judges how do you feel about taking our halfway break here just after just after this okay cool yeah paul um that looks like it's coming through all right as long as you've shared the sound or are you going to talk over uh you should be good yes okay perfect so hello everybody i will show you my project that i made during during this hackathon so what can you do with it you can open the leverage position between any app supported token and make a lot of stunts or lose all your money in a decentralized fashion so why did i do this it's to learn solidity by creating a contract from scratch on the interact with multiple protocols so now let's show you a quick demo of how it's working so in this example this is like a unique short position that i am opening against usdc so this button is just here for debug purposes on the will do a swap from ethereum to uni and then i will deposit this uni in my contract to open a leveraged position so first you have to approve the delegate borrowing next approve the token spending so the contract can pull the unit token and then call the function to open the position so you can see you have now a depth token on a token so this is a schema of what is what my contract is doing so first the contract pulled the unit token from the user then open the flash loan of twice data moons on the rv it is then swapping all the unit tokens from the user on the flash phone and one inch to get usdc tokens and then deposit all the usdc tokens in have on behalf of the user and borrow the unit token to replace the flash loader the user is now ending up with a lot of usdc token a usdc token and a depth token representing the uni that we use to repay the flashlight and everything is using the delegation in the af contract so the token is never in the in the contract on the end up on the user wallet i made my function so you can close a partially closed position so you want to recover some of the uni that you deposited into the position you can just input how much a token you want to sell and then my contract will do a flashlight and do the reverse of what i showed you previously on the get back some unit token then to close to fully close the position it was not totally possible because one inch only allows you to swap a defined amount of token and since our token are always increasing in value you always end up with some dust because at the moment of the execution the value is not the same then when you call the one-inch api uh the difficulty that i encountered was that this is my first project in solidity i never developed a contract before the primary one inch and some possible improvements are heavy gas usage optimization because i did not do anything of this i just wanted something that worked and some unix improvements so for example i'll show you what you will get after calling the functions so thank you from every member on the discord for helping me doing this project first thank you for building your navi and welcome to the uh solidity developer family you're a real one now yeah super cool man this is really i think for you know you're first playing around with solidity this is uh very cool yeah and you kind of went straight at the heart of d5 there yeah yeah and i have to say uh i'm in love with the ui i love the beam it's like it's perfectly targeted at the audience like uh as a dj i want to ape into your your your app immediately thank you yeah paul how did you come up with the idea and then the routes at first i hadn't any idea so i looked through all the suggested ideas on the market make table and this one seems cool because i wanted to do a contract development mainly on the less less weeks so this was uh perfect for me yeah this is a great job for a hackathon project i mean this has direct use if you put it out there people will be using it yeah thanks what are you going to do next uh follow i don't know maybe participate in the next target that's the correct response do the next hackathon yeah just keep building and just put it out there put it on twitter and see what people say and get some feedback i think that's the best approach in our ecosystem like everyone you you see around you started just like you did at some point and me includes like my first academe on ethereum was in 2015 and i never stopped and i think you you took exactly the the right path that's why i made the aircraft because uh i wanted a goal to reach and the academy gave me that yeah we all hope to become like paul i mean mark in the next five years after after coming on the hackathon did i cut you off earlier i thought i heard something no all right uh anything else you want to say paul otherwise i think um the judges are are good with questions uh no i think that's all thanks great and glad we were able to to get you to talk live i i don't think i would have been able to explain your project otherwise so thank you thank you yeah good job all right so next up we're just going to take a quick break so that's for the panelists and the attendees just hang on for 10 minutes stretch your legs um get some get it get a drink and then um but before we do that judges just hop back into that google meet and if you want to talk about any of the projects uh you can do that but yeah 10 minutes we'll be back here and back to demoing projects we'll see everybody in a bit all right welcome back everybody i just want to make sure we have all the judges back before we get started but um let's see the next team up is flash suite and let's just make sure we have all of them present um i don't see raf raf are you here i see three team members so you're expecting four you mean ah there we go oh oh i don't know who andy is andy is my guy okay cool all right yeah so it looks like everybody's here the judges are our thumbs up ready to go and oh wait we're still waiting for joyce uh so uh what's the name of this uh this one this project is flash suite so once i just get confirmation from joyce then we can get started hey joyce are you are you back yes yes i'm back sorry about that no worries all right so uh flashlight i'll let you do your thing okay i'm gonna shave my screen hello market make welcome to flash suite flash suite is a set of tools created in a user-friendly interface with flash loan enabled features as you know the use of flash loans are currently not very accessible to those non-solidity developers and we want to change that so we're going to show you today two tools flash pose and flash arb the first problem we're trying to solve is how do i transfer deposits and loans from one wallet address to another that allows privacy wallet management and the ability to transfer to a cold wallet so our solution allows you to select the loans and deposits from one account and migrate them to another account in just a few clicks let's demonstrate for this demo we are starting from one of my accounts that has some positions on ave when i learn on flash street it is prompting me to connect my account i head over to flashbars to migrate my positions from ave it is retrieving them first and we can see i have some deposits and some loans i select what i want to migrate and i'm not ready to start the migration i first need to approve the transfer of my two deposits so i confirmed two transactions all right all good and now it is asking me to connect to my destination account it is retrieving the positions on this account but there there's currently nothing no deposits and no loans so now we are at step two i need to approve the transactions to migrate my loans again there is one transaction per loan and it's actually using credit delegation to allow our smart contract to borrow on behalf of the destination account and now we can complete the migration with one final transaction that is going to use a flash loan to migrate my positions complete it will refresh the dashboards to show the positions after the migration and we'll good the next tool we're going to look at is flash arm d5 is full of arbitrage opportunities but the vast majority of people who take advantage of these opportunities using flash loans are technical bot developers non-technical and non-devs are usually not able to take advantage of these flash loan contracts and there lies the problem our goal is to empower non-technical users to be able to identify and execute arbitrage trade opportunities using flash loans with great ux and user-friendly interface let's demonstrate our flasharb tool is showing price discrepancies between different decentralized exchanges using real live data from one inch and 0x api we can select a pair it's going to re-fetch the data and next we select a spread amounts we would borrow showing the profit everything in eat the flashlight fee the gas costs for now we have to enter it manually and it's showing the estimated profit for future improvements we will integrate the button to actually execute the arbitrage using a flashlight flash suite is just the beginning enjoy what we have so far and thanks for listening so i know folks who are uh trying to do these arbitrage uh you know and then doing this as a fund have you guys thought about this or are you just looking to build this as a tool for for other community members so um i'm happy to answer that so as a fund no um the reason being is that um the spreads that were creating on this tool right uh we don't know it's viable enough to taking capital and making large huge um you know trades and also there's a slippage factor right so if we take millions of dollars and make large trades right the the amount of slippage that could really implicate the amount of profitability that we can get so um so we want to just do this for this tool is designed to make for consumers consumers like people like me and people like you know that are non-technical because we found what we found is that a lot of people who wants to do arbitrage they go on youtube and they look at their videos on how to do an arb and they're completely lost on how they can actually execute so we want to help them and empower them to to to visually do one themselves so that's the whole idea yeah i totally use this i'm not technical and i would completely love the solution like this yeah and i think it's great that you're actually going for a lot of different smaller users versus larger ones because the problem with sort of arbitrage especially liquidations is when you so this happened to maker right so they've had one entity constantly out competing everyone else in the liquidations and so everyone just like dropped off and there was only one party left and at one moment they realized like hey it's only us and i can bid zero dice for something and get everything for free and so it's really important for a lot of these d5 protocols to have an ecosystem of many many different actors that are all competing and and kind of all thriving on a small scale uh you know because you want this competition to even you know be maintained in these extreme situations uh so that that's why i think it's great to say no this is actually like for a lot of smaller players completely agree on that and uh i have to give a special shout out uh i don't know who who managed the ui and ux design but it's incredible okay everything is so simple uh i saw it like in one second i know exactly how it works exactly where i should click or oh i should use it it's like uh it's like better than a lot of projects in this ecosystem so you should be proud of yourself whoever worked on it manly is the one who actually built the just to give her credit where it's due she was the one that did all the ui and ux so great great job mikael great job a great congratulations and um yeah uh there's already a few projects in this space trying to do uh things uh in that area uh one example is fury combo maybe that was an inspiration for you guys but i think your project goes straight to the point and specialize on a few things and then as uh from what i understand like flash shoot the idea to iterate on a few use case on top of that and leverage on top of it and it's super interesting and i want to follow what you do after the hackathon yeah we're actually glad that you're part of the our judges because we heard your call in one of the it global meetings for a tool to allow uh to migrate uh positions from other easily between two accounts so that was a big inspiration for us and you did it thank you yeah [Music] and we envisaged to do it with over platform so from harvey to our platform like compound or on the other side to migrate position between the platforms protocols excuse me what is compound for oh yeah i know this one thank you for your work guys this is great yeah guys i'm looking forward to having you kind of pushing this out to the market sorry my dog's going crazy but i'm really looking forward to trying it out for sure and sharing your friends and so some improvements that we we thought about could be actually collateral or loan swap during the migration if that's that's interesting for users also maybe reducing the number of transactions using permits and we said migrating to from different protocols but uh there's still a lot of work to do and a big road map yeah i i just uh as a phy number feedback yeah permitti is a is a good way to explore especially when you want to migrate full position where you have like several assets as a deposit and maybe several assets are as uh borrowed assets uh if you pre-approve order the specific transaction and don't have to allow like four or five transactions but you do only in one batch with the meta transaction that would like be incredible in terms of ux and that's not that hard to implement so that that would be like even better yeah we have made some transactions when we transfer about 10 coins and the flash loan includes 24 in internal transactions so you can transfer the world dashboard that's good in one classroom it should be a bit costly in uh transaction fee but it's a credible that we can do yeah okay i'm gonna wrap there so we can stay on schedule but thank you flash suite for presenting and answering the questions appreciate that thank you next up is maki so i think your team will be sharing i'll let you do that however you like yes you can go ahead whenever you're ready okay hi my name is daisuke let's start presentation our project for hackathon is named mamamaki is a fun platform for virtual youtuber our team is four people from japan so we built a platform to let you create personal token easily with raw feeds youtuber issue and distribute own tokens at the low fee and funds can get this token why we built it currently we have two reasons one is to create a fun community using personal tokens without relying on a specific platform like youtube another one is gas cost is so high on ethereum network how it works youtuber creates personal tokens fans get the right to receive tokens youtuber distributes token to fans fans can find the amount of tokens anyway i'll show you the demo at first what a youtuber creates personal tokens in admin page it's easy to create wallet with tora's wallet next fans watcher video page enrolling with social running using taurus you don't need the knowledge of warrant next friends water live video after a few minutes fans are on the right to get personal tokens when finish the live youtuber distribute personal token to front in admin page personal tokens it's deployed on matic network you can check the token holdouts like this and fans can find the amount of own token in youtuber page that's it cool thank you is this the have you built projects on ethereum before or is this your first blockchain project all did that audio come through just wondering is this have you guys built on ethereum before is your first sort of blockchain ethereum project our first first project gives you the nice experience future work optimizing the logic for distributing personal token governance using personal tokens and introducing the meta transactions for user experience thank you i think this is much needed especially like uh when the like on twitch or on youtube the the platform do a lot of central cheap or take a lot of commission or for example on twitch they detect like 50 58 and i think youtube take 30 so having like some kind of decentralized direct pathway for youtubers to directly uh contribute and support the content creator should be it's not very much needed so thank you for your work on this and uh uh that's incredible thank you thank you yeah i i shared the the i saw there's been another company that's been doing something very similar and i shared it in the chat it's called mint gate and they're doing this for youtube videos as well as uh articles as well as any kind of media media so so you guys could check it out i think what you're building is definitely something that a lot of people are interested in like we are exploring our token ourselves on for our content and we're doing mostly you know writing and and and articles and such so so this social token area is definitely something that you guys are onto something so good job thank you thank you for your information and that area is great are you guys in japan now yes oh wow it's very late there well thank you so much for staying out for doing this sorry morning yes almost fun oh yeah so do you know the maki no maki is a japanese traditional festival oh so beans being destroying me is that like the social token is the bean yes okay that's very cool this is so cool what was it like building on matic network have you built there before or is this your first project there no first time was it easy to navigate all the docks and the resources oh yes so similar to the etherium solidity so we can easily the development yeah yes yeah a lot of projects are definitely i mean it's been a kind of a ramping up process over the past year people projects looking at matic looking at x die so it's good to see you know you're thinking a little bit forward um given gas costs yeah it's a big issue for guests for for for on the on the on the social tokens front so definitely it's a thing that worth considering and looking into more and starting directly on layer 2 here is just the right approach so thank you for considering it any final comments keep building we'd love to see more projects from you guys thank you guys thank you thank you all right yeah thank you for presenting the next project up is credit three [Music] and isaac is joining isaac are you the only member of your team presenting today i'm also from credit three oh okay great just want to make sure we have everybody up looks like there's one more maybe uh so just three team members is that grounds all right um yeah so this is credit three and i will let you start your presentation welcome to the credit three live demo an unsecured landing vault it's a collaboration by team bloom and the team apis so what is credit three credit three is built on top of ali's credit delegation watch it's a credit score based on secure landing for borrowers and investors can earn extra interest on top of our base rates so let's jump right right to the smart contract um so it will take two nft token as the constructor param and then we can launch the smart contract for the credit three and once we do we have the smart contract address here so um here are the steps um for launching the smart contract it's done and then we need to imp um approve investor and the borrower for um the smart contract um so we already loaded the the usdc address and then we're going to approve the spender for this smart contract we just mint it now we can start um seeing the investor so to invest to be an investor and invest into all we need to do is to deposit collateral so to deposit collateral it will take the usdc address the asset address and the amount so we'll just uh deposit 100 into it and then you see that um since it's approved we we can deposit into it so for for the borrower um you will initiate the borrower wallet from the blue for to request any credit data and then you see that i have my bloom id and then through the bloom app you can scan the qr code and then approve the share so now you see the credit data is shared and then there's a callback it's not shown here the callback will go into the market protocol and mean a smart contract token um nft token is the video stuck for you guys yeah yeah why don't you why don't you start it again from that spot no let's retry yes no oh it looked like it was stuck but i've undone the screen sharing so maybe uh either you can play it again or i can try it yeah sure maybe take over so we don't play yeah let me pull it up right now [Music] and for this smart contract we just minted now we can start um seeing the investor so to invest to be an investor and invest into um all we need to do is to deposit clara so to deposit collateral it will take the usdc address the asset address and the amount so we'll just deposit 100 into it and then you see that um since it's approved we we can um deposit into it so for for the borrower it will initiate the borrower wallet from the blue for to request any credit data and then you'll see that i have my bloom id and then through the bloom app you can scan the qr code and then approve the share so now you see the credit data is shared and then there's a callback it's not shown here the callback will go into the market protocol and mean a smart contract token nft token to authorize the borrower so once this is done we can call request credit so request credit because the user is already approved um for a high credit so the high credit smart contract is here the token number will be number four and then the ad set will be the usdcs address and then once you request the smart contract will go through and then we will be approved on a a smart contract and then once we do that we can see that we can actually borrow from rba's smart contracts so the obvious lending pool um here we can start borrow the asset address will be the usdc and then the demos contract on behalf of the demo contract we will be using the demo contract and then after we mean the mean this transaction you'll see what it means um once it's approved let's see the transaction details transition hash and let's take a look on um [Music] come on so here you go so you see um there is a rv uh token minted to the smart contract here and then you have a usdc sent to the borrower so this is how it works investors would pass into a credit delegation which will provide a credit and then um the borrower will just describe the whole flow and then they can borrow and repay using the credit looks like it cut out a little bit early but uh i think it came through all right yeah the the credit score how does that come you know how does that evolve or how does that build up sure so uh in the app we have a connection to transunion um where we can pull somebody's like somebody in the us's credit and then basically they share it um with that qr code and then it uses it can either plug in through like um create a chain like oracle data feed to connect a user name to like a certain credit bucket or in this case with molecule it actually means an nft saying you fall into this bucket therefore you qualify for this loan okay i think this is super creative uh i i like enjoying seeing the kind of crypto data mingled with non-crypto um kind of sphere and it's it's how did you guys come in with this idea um this is something that i've kind of wanted to see exist for like years um and i was just really excited to see that ave credit delegation is now at a point where we can do something like this because um we've been you know trying to figure out that bridge between d5 and and traditional data world so working with calvin and the molecule team they just came up with this idea where you know you can enter into a traditional lending agreement through um through bureaus and through contracts and just have the um loan dispersed on chain like there's it's there's really shouldn't be that big of a barrier um to get a lender to do that you know um if you're uh one situation we thought of as like you know you're buying a tv online and normally there's a pay over time with a firm no reason why that loan couldn't be distributed through an ave credit delegation vault very cool yeah some feedback on my side i mean breastfeed is what you build i love the the fact that you leverage energy between a different project uh like you you do like the defy legos and even sifa in that case legos together in order to create a full-fledged protocol and product and what we envisioned with credit dedication is to be a financial middleweight that people can just adult and take it and build up on it and that's exactly what you've done and i want to to see your progress and success in the future thanks one question i had was is this living within the bloom app or is this like a web app where does it actually live for the user um so the user only has to use the app initially to pull together the data they need to prove that they qualify um but then this is a separate um this you know just a standalone product um this of you know lending this lending product so uh sometimes i think of it kind of like a like a vault that anyone could invest into and then um you know in this case bloom is the one saying these are the people that qualify for a loan to the risk assessor but anyone could play any role in that process and that would be my last question um so on the identification and basically giving like a risk trench to all like a rich nomenclature to the borrowers allowing to have like a certain kind of size of trade that's one thing but on the other side if the uh what kind of solution for maybe binding agreement between uh protocol and the borrowers uh did you envision and did you check what open load those uh these kind of things uh so we looked at open law but i think in this case we were just going to spin up like a like a hello sign where you'd go and actually sign a legal contract um i'd be we'd be open to using something like open law for it but in order to do it kind of like one step at a time we're thinking keep the actual loan terms as traditional as possible like a lender would be comfortable with and just open the credit line on jane okay fair enough that's very great thank you for your work thank you everyone yeah thanks guys good job all right we're going to move on to the second to last project which is copyright securities uh let's get them promoted oh it looks like one of them might be here nicolas is that you yeah cool right here uh is that are you the only team member or are we expecting anybody else no it's just me okay great yeah you can start whenever you're ready perfect hello and welcome to our presentation for royal hits dpi tools for the artist let's start with our introduction there is an absence of blockchains providing financing tools for the world of entertainment the modern music industry does not allow the artist to develop a real independent career access to funding is a monopoly and rarely baked artists might be among the careers benefiting the most from the d5 tools on the crypto world so the solution is to allow creators to get funded by enabling them to issue investment opportunities for individuals that believe in their development and invest based on its potential so the benefits of this would be inclusion of one of the most active sectors in terms of digital presence to the crypto landscape defy spread over new industries and a defy solution for non-developers and non-crypto native users so some of the details of royal hits it's a layer for dap built on top of ethereum to lend and borrow crypto it enables artists to create auctions and issue a debt token that investors or lenders acquire for the term of the smart contract loan its price fluctuates based on the predictions market tools that follow the real performance of the creators and it uses a reputation model to determine the willingness and proneness from borrower borrowers to pay their debts so for the integrations we need external ways to have reputation tokens instead of issuing them an infrastructure to make loans of crypto focused on the long term apis to use streaming platforms and social media external data as oracles and to showcase the auctions on external channels this is the demo for royal hits it is intended to show the most basic feature the platform will be able to do which is lending funds to artists to finance their careers this is basically a dapp where investors that believe in their discovery can put their crypto into a yield farming contract and it would have um basically um a total supply of tokens that it would distribute as a reward for the investors who would in this case mock died into the into the balance of the contract so let's say that i i'm an investor and i want to lend money for an artist so i will then have a balance in my account which i can put into staking so i'm going to put just 100 dice or multi into staking you can see that the investor has a staking balance and after that we um refresh this one more time and it should um issue the token so if you refresh one more time you can see that you can get a 100 die as a reward now if you want to withdraw this uh amount you can as well i'm mistaking this is basically just taking back the the amount you put into the into this taking pool that's pretty much it thank you for your attention and this was right hi nicholas um i'm curious did you talk to a lot of artists when you're thinking about building this for artists or just kind of creators in general it's uh i thought about it with artists um because well basically it's framed on top of copyright uh of a copyright framework in which you can trust on the performance of the of the of the copyright uh an artist owns so by by that by that means we will be creators uh to answer your question yeah owners of copyrights because uh the way we the way we envision is is just to to trace the performance of that copyright in order to create an expectation of what's going to be the potential of it over time got it first i have to ask what is a layer for just i just uh read about the uh the d5 them and i and i just read about the different layers of sorts for example the the first layer it's like the ethereum network in which everything is built on top of and then comes the the financing tools such as compound and uh avid to create like incentives for for crypto owners to put their crypto into that and then on top of that the layer three and four which are just apps that are closer to the to user to not native not crypto native users um to create like more opportunities outside of the blockchain landscape that's fair enough i mean it's a it's a new ecosystem where all the rules are not within stone so i would call that a layer for apps starting from now you heard it from here first yeah you created something yeah and have you worked in in blockchain or in hackathons before no this is my first hackathon i i actually have a background more into the entertainment industry and just recently for the last year into programming uh into d5 for the last two months and this has been like uh uh super uh uh a sprint for me in terms of that's amazing yeah yeah that's pretty amazing and i think you went you went into very good space everybody's looking for for solidity developers the opportunities and the i've already seen the the landscape for it yeah have any any input because um radio had like a great breakthrough with nfts and this is not nft um core related but but it has some relations so what what's your input from from that point of view i i mean i think the reality is that it's it's probably security you know these things because there's expectation of profiting so in the us it might be a little iffy uh but the good thing is it's not your problem it's only the problem of the artist that is promoting it and like we've seen some of them just don't care and so uh you know i but i think it's a it's it's it's a good way i would just try to you know polish it up a bit and and kind of launch a first version of it and see but i definitely um yeah i think also for reference check into a project called dao phi and that's kind of really looking into making it very easy to deploy custom bonding curves etc for you know different artists et cetera communities uh but it's it's definitely an interesting space and we're getting to the point where actually all this sort of more mainstream interaction is becoming actually quite real gary thank you thank you yeah i think over the last few weeks even we've seen like uh some pretty big names um starting to get into the creator space so it's i think it's this it's an idea or a family of concepts whose time is here not just for crypto people but for everybody outside of crypto too it's getting bigger yeah yeah all right thanks nicholas good luck if you continue to work on it but thanks for presenting and that brings us to the last project of this judging session which is upala digital identity and sorry about that and i'm gonna share the video peter if you're ready to go i can do that [Music] okay greetings humans we are upala an anticipated system for the apps and identity as a service in the future today there is no reliable way to tell humans apart from bots on ethereum neither the reason the traditional web and in apala we believe that over one billion people without any id is a part of the same unique human problem existing solutions out there measure the probability of personhood in percents we don't do that in obama instead our account score represents how much it would cost to forge this account we have dollars instead of percents the building block of ubala is a group the group has a pool of money attached to it and a list of members with their scores the user score is valued in dollars it represents the amount of money that the user can steal at any time from the pool this act of stealing results in deleting their id we call it explosion the possibility of an explosion is what incentivizes groups to let only trusted members in and the apps are able to trust those who didn't explode by seeing how much a group staked on them the group in turn can earn for providing the scores these are the only constraints of the protocol but it's enough to create just the right incentives as groups need large low explosion risk audiences the apps need trusted groups as their score providers and users need the highest possible scores a market similar to insurance emerges but instead of trading coverage for premium innova scores are traded for solved captures reputation deposits or other efforts the competition among groups pushes this course to be roughly equal to the cost of acquiring such a score which from another perspective is the price of forgery and as it is decided by the market it's very practical to rely on when interacting with the user mobile is a protocol cross chain by design anyone can create an apollo group around any trusted community or verification method it could be a group based on sms verification a github group your favorite community or a whole identity system wrapped into power protocol groups can also aggregate scores from multiple sources enabling scores that i.

e that are higher than a shadow market cost of a state id so it has a potential to become a substitute for that and yeah that's our goal but for now we made this minimal viable anti-symbol system called blade runner the top group here is managed by a dao curates other groups aggregate scores from them and verifies this course to the apps now let's get to the code we put most of the efforts on the protocol and tools to interact with it you can check the specification on github the user facing app is called multi-passport uh it's already on wrinkly so let's see how it works first i push the register id button as we don't have any upon id yet we will have an empty id and we'll now have to join some groups that will give us a score so suppose we are a member of medicare fell down and they created an obama group to provide its members with apollo score so let's say they are giving out ten dollars score to everyone to every member uh after that after we have a score we will be able to interact with the apps let's say we can interact with in a universal basic income app that gives a one dollar to every uh account with score higher than ten dollars so we have 15 score actually and we can interact with those universal basic income apps but we don't want that we'd rather explode and betray our friends at metacartel so let's do that after that we'll steal that 15 die from the group's pool and the meta cartel will be notified that a member exploded and they will not let us in again unless we probably repay this damage to them so this is how it works thank you very much so high level i like that you are so i do really think markets are incredibly good at solving problems and uh and then because of blockchains you know you need trust for markets and so blockchains enable trust and so therefore you can enable markets to tackle a lot of problems so from the high level i find it really interesting to be honest i didn't get an 100 percent the uh the mechanics just yet but i can maybe i can look at it later but on a high level i really just like the approach of using markets to solve this identity problem yeah thanks uh yeah that that's true um that's really i think it's super practical to rely on markets because they are a ultimate source of truth so to say and yeah you can read the docs for upala there are dogs and i can help you if you if you want yeah peter i really like the the deck itself i mean honestly with emojis you explain a lot so that's actually something i encourage other folks to look at and just do that because you know you don't have to use any many words but you really were able to describe that very well um to me at least i think i i understood it pretty well uh in that in the general high level um where where how are you thinking about in terms of getting adoption for this are you like have you talked to any of my cartel members and i'm just curious you know did you show them this and they're what are their thoughts on this yeah i had some talks with americartel some of them are interested so uh in in terms of adoption uh for in apollo case we don't uh focus on users but we more focus on identity systems which we'll we'll we will we will use upola to create groups uh so and uh the apps that will use the palace core so i'm talking with uh bright id folks with um yeah with metacartel with metagame so that they at least know what apollo is and how it works and also uh there is a blade runner now uh which they can already join and i want to start discussion there on how on what they want from upala what they want want from each other first the the score providers and score consumers what they want from each other and what they collectively want from opala this is the the next step this blade runner down thing yeah that makes sense i mean it sounds like you're talking to the right folks and that you want to um i guess have you thought about the the the underlying um transactions with with stable coins or i assume this is probably what you're thinking about when you're that infrastructure there yeah initially i i thought that uh we will use just die uh but probably as the um as uh as i deep deeper think about it uh probably uh needs a some kind of wrap around die or other stablecoin and issue its own token just for the sake of maybe governments some fees optimization like use burn instead of instead of transferring fee just burn the token and like that got it any other questions my general feedback is that it looked like a great start i would love to dive into the mechanics and especially the game theory of your project because like the presentation was very clear to me uh as you say choice like with emoji even the complex stuff is made easy but uh i still want to learn more and i think that's a good sign when when you discover something and you want to learn more that's always a good sign i'll be happy to help yeah keep building peter thanks yeah good job is it just you uh currently yeah at some parts of uh project some people come by and help and i'm constantly looking for front-end builders because i'm mostly focused on the protocol and back-end so yeah looking for front enders yeah i mean peter what would you say is the biggest challenge for scaling this up uh right now i think it's just just people so funding and people which are intersected intertwined so i think the road map is pretty clear now it just needs to i just need to build this front end and tools for groups um and finish the protocol to make it ready for production um so yeah it's just uh funding in people yeah and then in terms of the protocol itself are there any limitations on like how many people can accept before it um runs into issues i mean maybe like the market cap of ethereum like is that the that the upper bound uh uh sorry um do you mean the number of users like the scalability yeah yeah yeah yeah in terms of the protocol itself do you see any issues i think there shouldn't be issues because uh we now use miracle trees to publish scores so the group providers can can just publish merkle root of of all the scores of users so it shouldn't be too many transactions another way is to move to other layers but i don't know it should be fairly simple to scale to to all current users of ethereum i think okay yeah that makes sense um i think that was the only question i had uh anybody else wanna have closing thoughts or peter um i think he said you're just gonna keep building on this um any final thoughts from anybody all right i think that's it thank you peter okay thank you for having me thanks for the questions bye-bye so that marks the last project from group two i want to thank lasse mark and joyce for spending a few hours with us and reviewing projects for any hackers who are still with us looks like we've got three thanks for all the hackers you know working over the past few weeks and um submitting their projects i know we had a lot of first-time builders for this hackathon so it's great to see new people joining in learning diving in headfirst it's always nice to see and um again for any hackers who are still here remember that the finale will be on thursday from 12 to 2 30 eastern that's when we'll have the finalists so we'll go through and review all the projects tomorrow today and tomorrow and then choose the finalists based on uh the judging categories and then the finalists the 10 finalists will present on thursday to another panel of judges and will be live streamed so make sure to bookmark that in your calendar and uh we'll send out an invite probably sometime today for the actual event but remember that will be on thursday at uh 12 eastern 12 to 2 30 eastern um yeah thanks again judges and thanks andy andy was helping us today in the background through all the promotions so appreciate everybody's help in making this event uh successful as it was thank you thank you andy and trent yeah this has been great i mean this is so fun always to love to kind of see more projects and folks like looking to build a lot of them are so like shy and like you know first time it's actually very inspiring yeah yeah yeah great event again thank you so much thank you all right thank you everybody bye