Sunday, Oct 25 - Session C - ETHOnline Judging

welcome to uh day two of judging for eat online um kind of the the amazing thing about this event is that we had over 710 hackers um from 65 different countries spending 19 different time zones uh participate over the last few weeks and last thursday which is about three days ago we had the submission deadline and we got 175 projects uh through the event and what we're doing over the the next couple of days is going through a lot of these projects on these demos and uh and recording these and kind of walking through all the demos so we can highlight some of our favorite ones uh this coming friday october the 30th in our finale so before we kind of jump into how this call is structured and the demos themselves i want to just go over the judging format so each team here will have eight minutes in total for their demos they'll have four minutes to go over their videos and then there'll be a four minute section for a q a from our judges and uh for uh kind of just to make sure that we give everybody a break as there are a lot of projects we'll do a quick break halfway through our demos uh in terms of kind of how the judges will be scoring these projects they will be scored on how technical original and practical their project is along with uh the design aspects of their demo whether that's a web app or a developer tool and then we also recognize that not all categories are are fair for every team and there are going to be different ways to look at different projects and different members we also have a catch-all for a call well factor that helps us sort of offset anything that we may have missed from the four categories above so before we go into our demos i want to just make sure i emphasize that this is not a competition uh the goal for 8th online and global in general is to do events and encourage people to learn and there are no expectations or goals for people to become businesses so they are very much interested in learning and experimentation and the hackers are here primarily to get feedback and this is kind of the perspective our judges will be taken too and speaking of that the three people that will be helping us today are going to be justin from grid plus we have barney from the protocol and ashley from venezuela so i want to welcome all three of them here um and uh with that let's go jump into the demos directly so we have our first team uh already ready and uh let me shake i believe is there so uh you are kind of free to uh kick us off with your demo and uh we'll jump right into the first demo for today sweet thank you let me just share my screen real quick nifty crates um so what is a nifty crate a nifty crate is a container for your nft section so there's a loot box and this is nifty crates um so what is a nifty crate an sdk is a container for your nfts that could serve as a loot box it's crc 721 compliance so you can trade it basically you can open the crate to get a prize or you can buy an entire crate outright and the owner of the crate can set up all the prices this contents the settings uh everything about the print so the problem we're solving is that one has usually people have a lot of nfts that are hard that are very common hard to sell and only a few that are valuable and people want to liquidate their tokens for as much each as possible so combining multiple tokens and using the randomized nature of loot boxes can encourage multiple purchases and help people maximize their profit so how it works is you buy a nifty crate and you put some nfts into the crate you can set the ranking for each of those nfts to determine the drawing odds and configure the price to open the crate and then others can come and spend gems uh on your crate and you earn money uh so why is this important well it lets uh whales compose their tokens uh in order to increase their profits which is something that's very important for the community um it also reduces the amortized cost of transferring large collections of nfts and finally we can defeat uh unfair regulations against loot boxes and game mechanics through censorship-resistant program so let's go over to the demo so here what we have is we see a couple of uh crates that are available for buying this one has eight items in it this one has four items in it uh and this one is a little more expensive to open but it seems like it has better stuff in it so let's check this one out so let's go ahead and click on this guy and here we can see sort of this cool rotating cube and we can see the different prizes that we could potentially get from within it and uh cool i think i want this prize so let's try to get this one we're going to buy some gems first so let's buy some gems and should be pretty quick so we've got some 10 gems now and we can use those to open the crate uh let's try to open the crate and see what we get and oh we won this guy it's just not very impressive but uh try again one more time maybe oh we won this orange guy i guess it's just on our day today uh well anyway back to the presentation so the create features um are basically that it is erc 721 compatible it also has a sender access control that lets you control who can send items into the crate and finally you can configure custom opening logic so that with your own token so that you can create fun new games possibly uh that that are you know that are up to you so what i accomplished in this hackathon uh basically i designed and wrote the smart contracts for this uh for top down composable 721 built it tested it deployed it to testnet um got basically got basic testing completed and built a basic front end like you saw and the future work would be to more thoroughly audit the security optimize gas get feature complete on the client and deploy to the main net and finally add more pop to the game and work with the community to add more features more different uh opener types different games so that's it uh thanks for listening to my presentation that's nifty creates by hey um yeah so that was the video hello everyone my name is welcome to this today's webinar about cyber security uh thank you for joining us i'll just meet him in the meantime looks like another video started playing on your end but uh yeah thanks for that demo uh it's a really cool concept i'll kind of start this off uh and i'll just ask sort of uh have you kind of seen any other loot box approach uh applied to nfts and i'm just curious because this is the first one i've seen so i'm wondering how you sort of got to this idea and what after that i'll let the kind of actually justin and barney kick off with any questions and comments yeah sorry about that earlier audio that was from the next youtube video that auto played uh but yeah thanks for the question um basically what what sort of drove me to this was i was an early player and developer on cryptokitties and we had we built this thing called kitty hats which was a bottom-up composable which you could attach a sticker to a cryptokitty but in this case uh we were thinking of the reverse approach where you can put multiple different tokens inside of a box and then kind of finding an interesting use case for that um you know one one thing that i saw with cryptokitties the early sort of magic was based around the fact that you could get something random out of uh an interesting sort of system and people found a lot of engagement around you know like sort of figuring out how that system worked and then my goal was to sort of replicate that same fun and that same sort of user experience where you get something out of a cool box or an egg with uh with this project in a way that was generalized that that kind of took multiple games into account and then also sort of creating a way for um different nft game like an entry point for different nft games because people usually end up playing just one and what i wanted people to do was you know try out multiple games try out different games and and have a fun and interesting way to kind of uh liquidate the the tokens that they get from these games uh you know to other players to get them to try the other games so that's kind of what the motivation was awesome should we just hop in with our questions comments kartik absolutely okay cool um well thank you so much for this this is this is interesting one of the things i was thinking of as you were presenting was uh it kind of reminds me of like buying packs of pokemon cards like maybe there's a charizard in there right that was obviously hugely successful so i guess i wasn't clear on what is what is the i saw that you have to buy gems in order to open something so what are gems and what's the what is the feature around opening it like you can basically see what's in there beforehand so it's not actually like you're buying a mysterious box of goodies that's right so it's not a blind loot box uh in the sense that you can actually see inside of what what's inside of it uh and um you know what what you don't know is what you know is what are the odds of hitting each item um but you don't know which one you'll get obviously and and the gems are sort of this mechanic that i've created because you in order to keep it fair and prevent front runners uh what you need to do is ensure that there's sort of a two-phase commit process which was sort of the same thing as in in the cryptokitties world it was oh you you sort of breed these two kitties that was the first phase of the commit and then somebody else would come and open uh or birth the kitty and that was the second phase of the commit uh in this case um each gem is sort of like a nonce right so you can generate a bunch of nonces for yourself and then those are yours and then you can use those to open a crate each time and and you'll sort of get something out of the crate so that's kind of like a security measure wrapped in like a sort of fun game mechanic language to help people understand the game very cool does that kind of answer your question yeah thanks cool what question i had was uh you mentioned kind of custom crate opening logic which sounds quite interesting to me like what sort of ideas do you have for using for using that logic to kind of extend the mechanic beyond i guess kind of more of a lottery yeah so actually actually uh the first goal was for the custom crate opening logic was really so that i could upgrade it in case there was a problem uh and and that the original the crate token itself would be upgradable to you know sort of um helped me fix any mistakes that i possibly made uh but really what what it lets you do is if you own a crate you can sort of set a specific contract that will that will say hey um this is how this crate will be opened and this is and and basically that function has to return like one of the tokens from within that crate and and then that will be transferred to the winner right um and and you can customize and modify that logic so if tomorrow we figured out a way to sort of do it without the two-phase commit without using gems to do that you know if there was a secure way to open the crate in a single step that would be very ideal it would reduce one single transaction so the first goal of that was to keep it open-ended so we could extend it in the future fix things in the future and the second thing is that you know i i can envision other people making interesting games where you know you have to do a series of steps before you're allowed to open a particular crate in a game and then you know so that that's kind of like a sort of engagement mechanic to help you to help you help guide you through the progression um that's just one example but i'm i'm you know of course you could pretty much write a smart contract for anything so you could be like hey you can only open this crate if you own like so and so amount of this other other currency or other token um lots of different things are possible yeah i just want to say i really like the idea especially with high maintenance gas costs recently it's sort of the idea that a lot of cool nfts have sort of been orphaned or it's not you know worthwhile to pass them around so i was also wondering on the back end now that you already have this functionality for containerizing packs of nfts you also see it being used as just like a way of managing those collections that so people can easily you know organize and send without it being tedious exactly exactly so one of the big uh improved like things i found was um especially with cryptokitties right it's very hard to batch transfer things and then if you batch transfer collections repeatedly that gas cost is very high so in this case what you can do is you know compose them all up and then you know if you expect this this collection to stay together for a long time um you can use that um sort of to drastically reduce your transfer costs and and that that helps a lot so there is of course some cost to composing them and there is some sort of minimum number of transactions that you need to do for the amortized cost to be cheaper but but basically you're absolutely right in that composing the tokens allows you to over time you know drive down that cost drastically uh especially for a lot of tokens that make sense to sell together so if i have a huge collection of you know aquamarine cats you know and i just want to sell that to a person who has no aquamarine cats that that makes sense december so we are at time uh oshay thank you so much for being our first demo and uh telling us about nifty crates and uh i hope you continue uh building this so uh with that we're ready to move on to our next team and that is uh project digital euro stable coin protocol so uh i know uh you know you are on this call so feel free to kick off with your uh demo in screen share thank you for eat online 2020. our project for eath online 2020 is to build the world's first euro picked stablecoin today we are introducing d euro a one one-to-one collateralized stablecoin that is pegged to euro slash die it can be transferred freely and is always redeemable for an ever growing amount of dye get ready for dank the euro debanked my name is charles steenster i'm the project manager my team consists of nino nomad as contract writer ben ning as primary back-end developer kurogi washu as primary front-end developer and yazid as the web3 integration specialist the digital euro starts with a simple mintable erc20 smart contract and can escalate quickly into a monster that requires dozens of additional functions interfaces and support structures and our random team of five developers we decided on the first day of the hackathon that we need to set a clear realistic scope and a deployment to the coven test net in order to deliver a working proof of concept by the 21st of october the digital euro should always keep its one-to-one peg to the current price of euro therefore it is mandatory to have a few oracles we used chain-link price feed oracles that determine the target price with die slash usd and usd euro to keep the scope realistic we set die as the first acceptable collateral to mint the euro the manager.sol got the owners rights for the digital euro dot sol and acts as a constant primary market for d euro as well as interacting via web 3 with our dap front end like all other stable coins we realized early on that we require a secondary token that acts as a value support reserve and could be extended into other features later on the digital bank dank token is manually used to support stabilizing the euro peg for the proof of concept phase to stabilize the peg we rely on the constant primary market that always buys sales to euro for the current sport rate of one to one euro on the secondary markets like uniswap the price will fluctuate of course providing arbitrage opportunities for any participant on the open market not fully relying on the market economics we plan to run our own stabilizers to screen the markets for price variants and alerting us when the price deviates to levels outside of our tolerance automated counter measures should be executed as follows but are not yet implemented the first is when d euro prices decreases the stabilizer has an adjustable tolerance threshold for d euro following below our acceptable limit this lower price limit triggers the stabilizer to sell dank and buy undervalued the euro from secondary markets until the price is back within the set threshold limits additionally our protocol can burn the d euro that it has just purchased in order to decrease the total actual supply of the euro and increase the individual value of every available d euro the second automated counter measure triggers when the price of d euro increases if the price of d euro increases above our two percent threshold the stabilizer buys the euro for the primary market for the value of one euro and immediately sells them on the secondary market for the higher price the profits are going to be used to buy more dank as future reserve to stabilize under evaluation additionally this increases the overall supply of de euro and should also help to bring the individual price of each dear back to its peg let me give you a demo of how it works so here we have the exchange a little bit of about page i'm just going to show you one real quick example of just exchange then bam uh you you can't see it on the recording but it shows up on the right you must have a digital wallet and below that is where you stake your your stuff along with about us links at the bottom this proof of concept demonstrates several working core features of a euro stablecoin for further development and testing we plan additional functions and security features raising c capital to bootstrap liquidity dew pools would definitively kickstart the project to gain real market traction before we would launch on a live mainnet version check it out for yourself at digitaleuro.netlife.app our project for awesome well uh that was a a lot going on here and i love the name so i'll just let our judges uh go into questions so i'm actually curious i might have just gone by me quickly but for dank to derive its value you know the first thing that comes to mind i think of it is analogous to like mkr but uh for it to retain its value as the backstop is it coming from you know a right to like a revenue stream is it coming from um you know how does it provide that backstop like what is the value to that is it governance yeah very good question so we we looked at all the stable coins and we realized that you need a secondary asset right so we looked at reserve rights token and amp stable and of course at maker dao how they do that um we want to incentivize users to buy to provide liquidity and kind of airdrop thank to dank token to them for providing uni swap liquidity um we wanted also we realized that you need some kind of value right so we said if we are going to launch the dank token it's probably good if we have some kind of vc money or like some serious amount of money to give it some value but later on it would be similar to any other defy token um in principle like a sushi swap token or whatever you can redeem dank tokens for when we're trying to correct the price downwards for excess digital euro that arises from uh the swaps because when the price is way low lots of people are going to be swapping in lots of digital heroes so they can get that easy quick arbitrage profit and so when we need to lower the price people who hold dank can redeem their dank for excess digital europe so then they can execute the arbitrage and take profit rather than us do the arbitrage um so it that also burns the supply of dank which kind of controls our issuance um because then gets burned up uh doing that and it also incentivizes people to call the update functions we can do the automatic rebalancing because there's a profit motive on their part awesome um i'm curious you guys mentioned you know raising capital and kind of pushing the project forward what else do you guys need to build to sort of fully round out this idea well um we wrote the the the rebalancing logic and we got it working in testing as a prototype but as we approached um the end date we started locking down um all the kind of like mint functions and stuff and there's a yeah real real world testing is important and also there's a there's a revert somewhere in there and we have yet to find it so we just need to debug that and we should be ready to do some serious testing great thanks do you have any uh other questions or comments maybe the demo went a little bit short so if you guys want to take a look at the demo in the remaining time sorry go ahead barney yeah oh no uh sure so um i was going to ask you um in terms of you know obviously one of the the biggest uh i guess risks with a stable coin is is whether or not it can maintain its peg over a long period of time in all kinds of market conditions have you what kind of thing have you done about about that about sort of how the mechanics work in in that sort of way and um what do you need to do i guess to take it from this kind of prototype to something that can be so launched confidently on a main net yeah sure so we rely on two mechanics right so the first mechanic would be we have a strong primary market which is which is our depth which is always issuing uh based on the current spot rate from the oracle price it's always issuing buying and selling d euro exactly for the price of one euro and then on the secondary markets like we're using a uni swap in this case it could also be balancer or other secondary markets later on there is always this kind of price difference which which lets people arbitrage right so we kind of rely on that and then we also looked at the keeper function so what ben was describing earlier it's it's kind kind of similar to what the keepers with maker dao are doing that so we are scanning the secondary markets um permanently and then that's also the part why we need dank because in we need the bank to sell and buy it to uh to counter measure if the prices is fluctuating but definitely this is one of the biggest challenge to currently everything is live on the coven network but this is really the the challenge to test and audit everything before we would put this project on the main net and when you say you're always issuing buying selling dear euro can you like talk a little bit more about that mechanism how how does that actually work in practice uh sure so we have um we have two two main contracts we have the collateral vault contract and the manager contract and so the manager contract has an interface for doing swaps um so when people want to get new digital euro um they take their die and they lock it up into our manager contract which sends it to the vault which is something we'll talk about later but um so and then they get minted an equivalent amount of digital europe at the spot price at that time uh based on the oracle right but in order to maintain one-to-one collateralization right there's uh two the the vault issues dank when the the vault um so what the vault does is it says okay there's this amount of digital euro out in the world right now and then it says this is what its value and die should be and then it says this is how much the vault has plus an extra fudge factory because we want it's it's not feasible to be one to one directly so we have to be like 125 and then so using those numbers it goes and sells uh an amount of dank tokens on unit swap which is why we require people to lock up their lp tokens because the more liquidity that we have the cheaper our loans are basically right um so yeah and then the manager contract tries to maintain the price on open markets by doing buys and sells to raise and lower the price appropriately digital hero cool we are i would definitely want to i would definitely want to look more into this uh like automated issuing buying and selling things this is pretty cutting edge so good job guys feel free to check the link our github and also if you want of course hit us up for for another zoom call after this great so we are out of time and uh well we're ready to move on to our next project so thank you so much uh nino and ben and uh next up we have chambis who is already on this call and uh so uh i know if the whole team is here solange please prepare to share your uh your video yes hello i'd like to do a cannabis plant manager using a matic network and binomicy but is not working every every here i having matic mobile and i am in account where i don't have in any matki so are you defining the t against c jc and the cbd from a plant so i will add a plant the signature it's okay but i have another window so it's not okay if i try the same using the example it's working so why you put a test here here it's okay you can check that it's okay so test change one and change two uh i don't have time to do how the project this is my smart contract so i i'm using the the meta transactions inside my smart converts and this is the the front end and i use remix to publish it and i configurated chain abs here in economy is this awesome uh well thank you so much for uh sharing us sharing with us what you uh made for the hackathon i'll kind of kick us off with the question was this your first time working with matic and in the other handful of apis you used and if so like what was that experience like yes it was my first experience i i hear about math before but never doing nothing uh about math it was very easy because it's only a con configuration networking metamask like the others so i don't have a problem with this but i have problems with economy uh because the the tutorials and the documentation was hard for me and and beside of this i i i was able to to finalize the the example from vietnamiki but when i try to reproduce in my project i can do it and i don't know why three hours before the hour and time i have a problems in local host and i can't even test my smart contract so i was very nervous this spirit and i didn't finish all the projects uh i invested because this well that's uh that's okay because uh you can continue to work on it and still uh get to where you wanted to actually finish and finish at those features so i'm glad that you still submit it uh to the point where you got to uh to finish before the submission deadline and i'll uh also see if any of our judges have any comments or questions thank you yeah thanks thanks for your submission um it's cool to see people playing around with layer two solutions this is a topic that you know the whole ethereum community is talking about um so i think you're kind of ahead of the curve on this um i'm curious like what what sort of what's sort of like the aim um of this project what are you hoping to achieve in the cannabis energy you're bringing blockchain into it and in many countries uh cannabis is not regulated and it's very important for for many years but how much for the medicinal now uses and they may allow it to have the use blockchain to provide security transparency and quality assurance in this ecosystem because in this way the regulators can trust and can be allowed to use it in our country in many other countries i kind of wanted to follow up a little bit on what kartik was saying sorry ashley um so yeah these legal cannabis supply chains are highly regulated so i see a value in having a single source of truth that all parties can access do you want to continue working on this particular idea or for you is this more about the experience and the proof of concept or it seems like there's a real application yes i'd like to still working with this i i was talking uh a bit before the hackathon about this with a person that needs to use cannabis and have a lot of problems so it's a real problem for friends of mine so it's important i and i'd like to still work in these and to do a real project cool if you uh if you carry on working with this what do you think i mean obviously you've got a sort of a small problem with some of the technical integration to get to get solved and i'm sure that'll that'll be solved quickly but once you once you get over that problem what are the next features and things that you are excited to build for this yes i think we need to to having more information because i'm only having the thc and the cbd but you have a lot of other informations about a plant is like a seed is like uh from another plant it's uh i i read a little about it and to have a second part when we have a high store uh history of our actions uh that plant heavy like the uh this the sun uh and the water and the other actions and you is in the in the future you can have when the plant it was uh transformed in a medicinal way and the other track about it cool hopefully you managed to uh build some of those features and get something exciting working yes i'd like to do awesome well uh thanks again for uh for demoing and i hope you will continue building uh this as well so uh with that we are ready to move on to our next team uh and that is uh project uh six elements so uh i think uh from what i know they are having some technical difficulties so what i'll be doing is i'll be playing uh the video on my end and then the team will be here uh to answer questions over audio so uh i'll get started on that momentarily whoops latest from project create comes six elements it is an all new nft clicker style game six elements uses chain links randomization oracle to bring tamper proof rng to the distribution mechanism the goal of this game is to collect all gems from each element category the six elements are light earth fire water wind and dark in order to redeem gems for a monetary prize gamers must attain all gems in an elemental set each play the user receives two randomly selected gems while also contributing to the prize pool each gem has its own probability of being chosen in the future these same tokens will also serve as the foundation for crafting newer items in an upcoming project create game master the elements collect them all that was a an awesome video yeah it was i love that voice at the end that's great um hello everyone yeah so uh so this is six elements um so it was built by tomo and i um yeah our video is short and sweet i guess i'll let you guys ask the questions then cool your name is pavel right uh paul i also go by julian julian okay got it sorry i thought i saw that at the bottom okay so sorry julian um so it says each player or each time someone plays the game they're essentially i don't know kind of like rolling for um one of these gems and then you said it said contributing to the prize pool can you talk to me about that in a little bit more detail is it basically like a luck thing and then some portion of what they're paying to sort of spin the wheel or engage in this sort of randomized aspect some portion of that is going to the price pool that is pretty much it so uh yeah so there is a fee for the rand so we're using chain link uh to get the random number um there is a fee for that so um yeah the users are going to pay a fee in order to draw two tokens um and then portion of that is going to be used to pay uh the oracle and then the other portion goes into the prize pool so then um if you manage to collect uh at least one of one of each token in an element uh you're able to redeem it for some percentage of the price pool so we're not we don't have the the price percentages um that's not final yet but that's the main idea and of course different elements have different odds of being drawn light and dark are going to be the most rare so of course the prize is going to be the most significant with in this case dark dark and light are going to be uh the most significant prize and yeah the other elements are are a little less if that makes sense so it's kind of like a it's almost like a digital scratch card sort of sort of um actually i i don't know if any of you are in canada i'm not sure if they if they're doing the promo in uh in the states as well but if you've been to mcdonald's right now they're doing the uh monopoly monopoly contest i don't know if you guys are familiar with it this is very similar to that okay cool makes sense and i like how you kind of built in the sustainability of paying your oracle fees and everything through you know each each chance um could you tell me more about you guys hinted at the idea of how these things could rather than just being used for prizes when you combine elements it might contribute like a useful in some way for a future game you're working on oh absolutely so that's that's sort of that's that's part of our philosophy really is that all the games we build they're they're meant to be built on top of each other so in the future we're gonna make uh we want to make some sort of either strategy or rpg game and these tokens could be used as materials to produce items in the other game so this future game for example wouldn't really need any sort of monetization system at all because we'd just be using tokens from six elements to produce items in that game right um so that's yeah that's really the that's the general idea here so this is intended to be a base of sorts very cool thank you yeah i like that aspect of sort of like composably building up this sort of ecosystem of different aspects that can be combined into new games that's a neat idea thanks awesome well um if there are no more uh questions from our judges um i want to thank you and the whole team for uh kind of doing this awesome demo and a really cool video and uh this looks really fun so um i'm excited to check this out after uh judging against today i'm feeling lucky thank you very much thanks guys perfect so uh next up we have uh inter oh sorry traffic art the project traffic arts i think they're just being uh ready to uh to be promoted so uh traffic art as you uh come here on the panel uh just uh feel free to kick off with your video demo these especially exporters have limited access to financing welcome to traffic art supply chain trade finance made inclusive where we address a problem that a lot of small companies especially exporters have limited access to financing and if it comes at high costs biggest hurdles in trade finance are insufficient and inefficient credits for the sellers and on the buyer side it is a validation risk and hence there is a need for programmable trust for reducing buyer and financial risks and facilitating seller borrowing let's go through an example let's say the buyer wants to buy goods from the seller to the right and the amount of hundred thousand us dollar so first both have to register with the traffic arts smart contract and the seller in addition has to provide us digital identity to increase trustworthiness also to increase its credit score the seller has the option to provide additional financial information and also a bill of lading prior to departure of the shipment in order to have additional verifications which will be stored on the blockchain or proof of it this way from the deposited amount which will be locked in the smart contract of 100 000 usdc of the buyer the seller has the opportunity to take out a loan depending on its credit score 10 to 50 percent once the shipment arrives at the destination the deposited amount of the buyer will be cleared with the outstanding loan and sent to the seller also the financial will receive a share let's take a look at the application finance here deposits the funds for purchase in uscc which is locked as collateral using the compound protocol they can do so by clicking the purchase button entering the amount unlocking the collateral the seller will then need to register with the bloom decentralized identification app and scan this qr code using this information and more from our trade finance articles the seller is assessed with a risk score which in turn will give them increased access to a loan based on the financiers collateral our chain link oracles use this information to call external apis and return a risk score collected by our underwriting contract the risk score is then used to assess how much of a loan seller may take against the financiers supply collateral the buyers get the security that they need and the seller gets an option to finance their working capital needs and this is the team to make it happen shane carlos satya and alexander if you're interested do not hesitate to get in touch with us great thank you so much and i'll uh kind of open enough for uh questions and feedback that's uh i think it's something really interesting that were pulling together a number of kinds of quite nice so composable not not necessarily d fighters and interesting primitives that give quite an interesting use case um i guess the question i have is uh thinking about the kind of what happens if the loan goes bad so how does the does the protocol the thing you built deal with that case where where the effectively the seller sort of doesn't uh doesn't turn out to be as credit worthy as the algorithm thought is there any kind of insurance mechanism built in right uh i'll start and shane can add more basically that is why we have a gradient of the risk uh number one uh the first of all the digital identity if they are able to prove them uh from a validation risk point point uh the risk reduction uh factor kicks in and then there are other things uh we are kind of building uh through that external adapters to the account aggregator framework that now is able to get into the income tax returns at least we will know if this is an audited financial uh um that the company has at least in the last year then the next set of uh checks that we do is is this a really valid bill of lading and that's a call we're making it uh with the trade lands blockchain consortium basically we're kind of implementing their spec so these are the uh series of risk protocol i mean risk apis that it goes through to say this is actually uh the genuine borrower from a point of view of waiting them out prior to the loan and after the loan basically uh there are protocols that we're thinking about on the d5 side as well and alex can explain more about that yeah i mean maybe to um also um conclude here um so you have to see that also from from a buyer perspective there's at the moment um no really possibility to verify and indeed if something goes wrong there is a loss but it is foreseeable or as we say programmable because um we have uh stress specific risk threshold as satya already described uh that we can mitigate the risk here and evaluate this risk score and of course in the future um we might also have some people wanting maybe to assure this i mean there are also insurance protocols we didn't make use of it because of the time but it would be also a possibility to to include them and um use third parties to ensure the risks and maybe also group the risk and um yeah that they're tradeable some some things like this but you cannot avoid it completely as there's always a risk and we try to find a way to mitigate it or to find the right channels for that it seems to me like what your project is missing right now is is underwriting so right now really it seems like the buyer is sort of taking on most of the risk you guys have built some tools around kind of surfacing what that risk is but in a traditional financial transaction of this kind there's someone that's that's actually like underwriting and taking on that risk between those two parties um so i would kind of think about that as you guys kind of continue to flesh out this idea maybe something like insurance is would be a good addition to this um but i guess my question is actually around the identity process that you're using so i saw that you use bloom how did you decide on bloom what do you think about using it you know how how easy was it to integrate what'd you like about it and shane doing them i mean uh the idea um the idea of loom is that you can so the question is how how can we prove that uh it's really um some somebody or company or somebody in person and with a bloom id it got stronger over time and you could share also that you are a real person you um bloom offers also to have a risk score added to it so these are all things we could make use of so this is why i decided bloom is a good idea right also some of the businesses we are probably looking for these are our predominantly uh proprietorship businesses at the low end of loans which which kind of has that uh personal um um kind of like a profile to them so that is why we picked bloom for that use case and secondly as the bloom protocol actually matures there are options to kind of take in documents and actually extract information from the documents so articles of incorporation to uh credit scores to others we can easily put in so that's what our in our understanding uh was bloom has increased over the last two three weeks uh whatever we could integrate readily available we have already done that and there are a few attestation frameworks that we can easily build on particularly bill of lading trading documents as well as some of the financial audits maybe maybe also to add here um it's about inclusion of those who do not have access to financial markets yet um because so it's difficult for them if you don't have a banking relationship um how do you give proof and this is where you where we think that uh by using bloom where you can everybody has a possibility to increase trust uh it's a good start especially for this inclusion case this is predominantly it was important because either it takes a much longer two-sided banking uh kind of like a flow right now and uh for 30 days 60 day loans the time it takes to get the loans is much higher that's first the second part in some situations monthly 60 of it in this developing countries the sellers really are not in the system and hence they go to the local lenders and and the interest rates are very very high great so we are out of time um thank you so much for sharing all those answers and i hope you continue building uh the project so uh with that we are ready to move on to our next team and that is project inherit chain so uh i believe they're on on this call ready so whenever you're ready feel free to kick off with your video my name is shebin jon and today i want to introduce you to inheritance inheritance involved so why why i wanted to create this project is because in the traditional world water is created using a seed or a private key if by any chance we lose it there is no other way to regain the access to the world so the funds are lost forever and even experienced users can have these problems if there are some solutions with some good ui most of them are custodian worlds which require us to trust someone else and finally the main problem the inheritance there is no option to pass our assets which are saved in ethereum to our it is either lost or if we are using custodian solution maybe after a long period they take so how the claim process works owner has to swear the air and some approvers at the time of the creation of wallet contract after the demands the air can start the claim process the approvers can expediate the approval time once the approvers approve or after a certain deadline the air can access the contract with a new set of air a backup honor and new approvals with newer deadline if the if the person wants to change it currently the project is on an alpha scale and the basic implementation of the smart contract is complete thorough testing is also being done a basic front-end design is completed along with its supporting backend thank you now let's move on to the demo so now let's look at the demo this is our home page we have the option to deploy a new wallet as well as interact with an already deployed wallet let's see deploy wallet you have the option to add an owner the backup owner the air the approvers the deadline and an approved deadline now let's look at the interact tab here we can put in the world contract address which we have already deployed and we can see the current status and based on that we can have different functions like we can deposit ethereum we can update the backup owner we can update the air we can add or delete an approval we can update the deadlines we can transfer it to some other addresses or withdraw at a particular amount of it or even all of that these are advanced functions where we can interact with other contract as well or deploy another contract through this contract where the current wallet contract will be the owner this is a view for the backup owner and this one would be the view for the air currently all these views are in a single page for demo purposes so this is how the air can claim the ownership it doesn't have to pass any values but when it would be approved or when it comes the time for the air to access the world contract person has to provide the the new details backup owner air the approvals the new deadlines etc then we have the approvers who can approve or reject an app so let's deploy a new wallet contract so now we have fill the details let's submit as soon as we submit the metamask opens up you have to confirm the transaction and the transaction is complete and the world was actually created this is the address we have to keep it now let's interact with this wallet as soon as i click the track button it will show some details due to the time limit i can only show this much it's pretty cool yeah the demo was actually of 16 minutes but i had to get shot into two minutes yeah it's uh it's hard i wish i kind of wish we had more time for some of these things um but okay so i guess how did you i'm kind of like reading through the description as we go through this it do i have this right that if um that there are so there are three approvers for any for anyone that you know let's say someone passes away and someone so the the inheritor has to um call the function to initiate the inheritance to happen and then there are three approvers two of those approvers at least have to you know sign the transaction in order for the money to be sent to the inheritor um what if the inheritor doesn't know that they're the subject of this inheritance can anyone call the function for it to be inherited yeah so the thing with the current system is like if i have an ethereum address i can't be my private key to the like if they go bad they can take the theory message right away so i can also can't trust any lawyer with the private key this is also the same concept so i wanted to create a platform for that and so that it ha it can be shared right away but can't be accessed directly so if like i am alive and the air tries to claim uh for the ownership it can't do that like i can uh there is a deadline uh for that like a timeline for it and uh i didn't got the time to integrate any kind of push notification or something like that that was the idea so as soon as a notification is received i can just like change the air if i don't like his behavior or like i can reset the claim process and ask him not to do that again and currently the provers work is just to expedite the process like there are two deadlines one is for the normal deadline like for uh by default it is 30 days and for if the approvers there is seven days for them for the air that he can claim it immediately after a week so that is comparatively fast if we compare it to a bank or something like that and in the future i was thinking of like integrating uh something like a dispute resolver like cleros uh for like if there comes a situation like if the up the owner and the uh both [Music] meet with their tragic accident then that money can be even transferred to something like bitcoin or some grand programs or something in the ethereum ecosystem so just my philosophies was like not to lose any more ethereum assets cool i like this this is uh this is a good solution yeah i just want to i think ashley addressed a lot of great questions about how it all functions and i just want to say it's a i think it's an area that needs to be addressed it would be cool to see you explore the idea further as a parent this is actually something i've given a lot of consideration to and um there aren't any great solutions i mean they all really involve relying on external third parties this does to some extent but i think i can already see you know how you're planning to add additional layers to it and other contingencies so i would love to see you explore more it's really cool thank you any more questions guys i guess the the sort of the thing i've been thinking about is the kind of the the approval side of things and the deadlines um is there a how do you deal with sort of um you know how do you how do you think about setting the deadlines and running the approval process so that it's not uh it's not too long but it's not to at risk of kind of you know being being subject to some kind of uh attack like for instance if i if someone was was ill long term uh then the deadlines could expire and someone could you know the air could maybe take advantage how would you deal with that kind of situation yeah so i actually have thought about that as well so like even if there is a thing like a health crisis like that they can immediately change the deadline or i was also thinking about like uh it was not just entirely for this one but also regarding the gas cost and the security like for some uh they have a wallet which is in ledger or treasure and they don't uh like do transactions with that but they actually sign transactions with that and then they relay that transaction to the network so something of that source can be done uh with the uh thing you are asking likes if there is some sort of certain illness or something like that they can increase the deadline to an earth maybe uh half a year or something like that but yeah that is a good question i would think about more about that amazing well um i hope you keep working on this and uh feel free to share us uh with an update on that kind of what happens after uh this event ends um so thanks again for presenting and thank you thank you thank you ready to contact yeah we are ready to move on to our next uh demo and uh and that is uh team catalog so uh team catalog whenever you are ready feel free to kick off with your video hello and welcome our project is called catalog catalog empowers artists with greater control in monetizing their work and community through the use of artist tokens these artists tokens can be used to unlock rewards exclusive content and even revenue share for supporters so as a fan of an artist i can come in and purchase an artist's work that they've uploaded and i'll receive tokens in exchange for that and these tokens can be used to unlock all sorts of things in the case of this hack we're experimenting with the idea of revenue share so we've built catalog on top of audience protocol so you can log in with your existing audience account and we'll import import all your information not only about your profile but we'll import your tracks as well for easy upload for artists that already have accounts on audios and then we're using textile as a database for other information that we don't have through audios and so we are now logged in you can see our account information through audios and we'll go ahead and upload a track so artists can upload and sell their work on catalog for whatever price they choose um you can see we just uploaded this existing track that already exists in audios and we'll go ahead and create it and close that window and now you can see that that has been added to this artist's catalog and we can view that song so we'll hear a snippet now [Music] so as a listener we can come to catalog and explore an artist's catalog we can view their music and decide on a song to purchase upon purchasing listeners not only receive a download of that song but they'll receive artist tokens proportional to the amount that you spend so you'll see if we edit the price field here you're gonna see the token amount that you receive change uh right now we're using a curve that's just one to one so if you spend five die you're going to receive five tokens but we're working on a curve that is proportional to not only the amount you spend but uh when you spend it so earlier supporters are going to be rewarded with more tokens than later supporters see here here's our receipt after we purchased it you can see 90 goes directly to the artist 10 is gonna go to all of this artists supporters through this revenue share pool so we'll go ahead and download this track because that's part of what we get when we uh purchased it and then also if we want to uh start earning revenue from this artist we can go ahead and stake these tokens so we'll send this a transaction through metamask um if we had more time we were looking to integrate uh audience's native wallet hedgehog but we just didn't get around to it this time so we're using metamask so now you have successfully staked those tokens so we can go to our dashboard to see sort of an overview of the different artists that we're supporting and you can see that for oppa who's an artist that this user supported previously they have 13 tokens being staked so they are earning that proportional share of oppa's revenue and crown comfort below we have our balance that transaction hasn't gone through yet but that stake number will go up to five once that transaction confirmed so that's catalog um and really what we're trying to do with this project is allow creators and their communities to realize more the value that they create amongst themselves and there are really limitless possibilities to what a token might enable community to do and because catalog tokens are erc20 the rewards could potentially be extended beyond the limits of our particular front end one idea we have for student down the road is allowing tokens to be spent like credits in an artist's store and we'll continue to explore other unique incentive mechanisms and models to see how we can best recycle value back into these communities we hope you get a chance to check out the app and thank you for listening to our demo thanks this is awesome yeah this is uh this is super cool it's like it's kind of like um adding almost like a patronage model um into buying music right because you're not just you can actually pay more than you maybe think the album is worth if you think that this is a fantastic album and there's sort of like an up and to the right future for this artist which is which is really cool wow i think this is great what were some of the biggest technical challenges that you guys faced putting this together hey so this is jeremy uh thanks for the kind words um one of our biggest challenges by far was stitching together the metadata that we were getting from audience and kind of adding our own textile back end on top of that audience handled most of the data we needed like profile data user name id handle track information um see ids for where to get that tracked uh file but uh trying to get audience to communicate with textile uh was a bit of the challenge because textile is in a relational database so we were having to do all these kind of like spaghetti queries tying this information together on the client side in a way that made it look presentable on the ui so you weren't getting terrible load states but making sure that we had all the information that we needed to update our database and presents the user with with that data i think this is um super cool one thing i'm curious about you envision a lot of flexibility for how content creators can use these tokens how much handholding do you envision to sort of drive them to models or ideas that you think works like is it going to be sort of a few jumping-off points like where do you draw the line with that customization so right now we're only doing this with uh tracks or songs but the vision is that you would be able to extend that to any kind of digital content so whether that's uh you know an album sample pack project file you know music producer racks that kind of thing uh you could really enable them to put up any kind of file uh and let them set a a price for that either in die or in their own artist token so all native in the site division is that um listeners could pay both in in die and in the artist token to receive content um and with the container within the site that would you know more or less uh be the initial vision but these bonding or these artists token contracts um could really be implemented on any front end and it's kind of like an out of the box creator token that forces all die to go through this contract in order for you to get creator tokens out of it um and with those we've seen things like uh you know requiring a certain threshold of creator tokens to be held to enter a discord um but really since they're programmable erc20s uh we would hope that creators could take these tokens to other platforms and use them there as well i think to add on to that it's likely that artists use what we allow them to use as far as rewards um some things that we enable within our platform but a text heavy user could come in and enable a discord channel for example to specific users that just happen to own their token and we wouldn't really have any control over whether they can do it because it's an erc20 token so we have plans to integrate a lot of different reward options for artists but you know a savvy user could integrate things on their own as well i was just gonna say i think uh one thing that i like about this other than it's a really beautiful design and everything works is uh you are not bootstrapping again from scratch uh you're leveraging this uh and building it on top of audience and that makes it a lot easier for people and artists to try this out whereas in most other scenarios you have the problem of convincing somebody to try out your platform and move the audiences with it so i really like that aspect here so um if there are no more questions i uh i think we can move on to our next demo i want to thank catalog for sharing that video and i hope that you share this thing with others too uh check out the showcase channel on our discord thanks so much perfect so i think the next team is up here and ready and the next team is koreaton and whenever you are ready um david one of our uh one of our teammates yes yeah yes i'm ready uh yeah for our hackathon submission we built creatine a decentralized permissionless platform for creators to host encrypted content that their supporters can gain access to via streaming stable coins we think a platform like creatine could help any content creator to capture value from their supporters without the problems that come with uh unnecessary middlemen or centralized services the way it works is a creator signs up providing their name an avatar image and a stablecoin denominated subscription fee that would cover a specified time period at that point the fee is sent to the creator's contract as collateral and if the supporter decides to ever unsubscribe she will receive a refund of her collateral minus the fee based on how many blocks have surpassed since she subscribed simultaneously a unique erc20 creator token is issued back to the supporter proportionate to the amount that they have contributed for the content encryption and hosting component of the app i'll pass the mic over to cena so for transferring the data on creaton we don't use any sort of centralized server and everything works p2p and encrypted but we use textile buckets textile threads and textile mailboxes to store the data persistently on ipfs the encrypted data and also the keys we use textile mailboxes to send over the encryption keys from creators to subscribers basically upon signing up we create a textile public key for each creator which is shown here and then the creator chooses the content and uploads it to a textile bucket this takes a little while and we yep we get the ipfs link and this is the key that should be sent to each subscriber now if we create a new subscriber a different user we set up again and get the public key yes we're good and we copy the public key give it to subscriber and the ipfs pass and we send over the keys to the other user keys are sent right now so keys right now are basically in the mailbox of this public key or this subscriber which should be fetched from the smart contract and now to download the file the subscriber gets the link from inside the contract and they can decrypt the file and download it so this is the encrypted file which is on ipfs this is the same key that this creator used to encrypt the data and the file is downloaded decrypted and can be shown all right that was it thank you for that demo and i'll uh i'll let some of our judges come in with comments and questions i'm just curious so given more time how do you envision adding to this platform and what is like the the fully baked fully realized goal that you'd like to see with this long term um so yeah we we still had to add the the payment part uh so that will be done with a fluid so with that you can stream your usdc and basically as long as you have enough usdc in your wallet you will keep streaming it and once you don't have enough subscription stops and you won't get access to any new content then we also wanted to uh add creator tokens so each creator can create their own token and we didn't really want to use something like a bond curve token but something more like you buy a percentage of the existing tokens and you get that uh that percentage um as a as a percentage of the profit so if you buy 10 of the tokens you get 10 of the profit uh and yeah i think i think that would make more sense than a bonding curve token um yeah that makes sense to support the artist up front but then receive like a portion of subsequent subscription fees cool yes another thing that we're thinking about adding is uh that we would definitely like to add is a identity component and hopefully like a reputation system so um being that we're we're allowing creators to to essentially sell encrypted content that could get into some pretty hairy um ethical territory um so having like a reputation system i think would be pretty key to to managing things yeah for sure okay very cool um i'm curious like what are your kind of backgrounds like how did you come up with this idea um are you guys is this your are you guys kind of new to the space or is are you guys experience this this looks really good so far yeah so i actually had the idea like two years ago at the hackathon uh yeah at a different one and i kind of changed the id but like back then like patreon kind of had some like issues with like uh like they started banning creators that really weren't that like bad i would say um so that's why i wanted to create an alternative for it awesome well this is definitely a problem that lots of people are talking about i was just actually having dinner with the musician friend last night and she was complaining that patreon is just completely broken so um awesome that you guys are tackling this yeah i think this is uh this is very cool a cool idea and i think i could say some patreon side of things certainly needs a bit of competition from the decentralized site i guess the question that i have is kind of how you think about kind of sort of the social element of things like patreon and the kind of interaction between the creator and the user and if there's any plans you have to kind of bring that into this awesome yeah no i i personally i am more excited for more streaming payment projects and just ideas because uh i think this is a very interesting primitive that we haven't used too much yet and i think we should so i'm really glad that uh you're thinking about it that way and i really hope that you kind of get the payments piece uh incorporated in your project soon it should be really cool to have subscriptions that can be built by the millisecond or block time so that's amazing awesome well thank you so much for uh demoing and uh i hope that uh you kind of get everything else in your to-do list uh finished fairly soon so we can try it out and uh with that we are ready to move on to our next project so um just as a heads up for judges we have three more projects to go and we talked about a break halfway through but we kind of ended up skipping that because we were ahead of time so if you still need a break we can do a quick one but if not we have three more projects to go and we're happy to go with whatever you prefer yeah i can keep going awesome so uh with that i feel like the next team composable is already here so composable whenever you're ready feel free to press play here if you head over to our build page all right let me uh restart this a second hello i'm tyler goodman i'm the front end developer for the composable project uh here's our website which was built in react it says we have a simple landing page here if you head over to our build page you can see functionality to generate functions and this pulls data off etherscan.

io and pretty much just gives you the abi for any contract so we can pull things such as a compounds contract and put it here and then we get all their functions so how this works is you just choose a function you can edit its parameters you can add more functions and then once you're done doing this you can finalize it and then you come to this page which is kind of just like a receipt of everything you had just built you can have your wallet connected in which case you can send these transactions to the composable protocol and the front end will generate the bytecode that it will send and just to show you what that looks like you can click send here and this is what will end up getting sent to the composable protocol where it will execute this function based on what we had built previously everybody my name is justin i'm going to tell you a little bit about the back end of composable i'll begin by running a simple test which demonstrates the functionality so basically what we have is a contract which executes arbitrary function calls on other contracts and the way we do that is by specifying a certain encoding standard which we've provided with the project so what you see with a normal encoded call is the function selector followed by the call data what you have with composable is instead you start with the address the function selector and the size of the call data and then you add the call data and the way that it's encoded makes it so that you can always know where your dynamic arrays end in a a list of dynamic arrays so it opens up a lot of possibilities um yeah so we interrupt the uh function selector mapping phase by using the fallback function and solidity inspired by the diamond contract standard and proxy contracts and multi-sig wallets it's a something that's already in use today so yeah by using this assembly we have a very small contract that can do arbitrarily many calls uh up to the limit of of memory of course and uh yeah there's a there's there's going to be some interesting uses for this in particular we think it could save compound protocols governance contracts a lot of gas by not storing proposals into storage but instead storing a merkle tree composed of the keckack hashes of each 32 bytes of the composed uh string of call data including the addresses selectors sizes ethereum values yeah ether values and call datas by doing that you could potentially save what 10 words 10 10 storage slots which is yeah yeah way better you're awesome looks like the video ended uh yeah is this the screen share uh perfect so um this was uh really interesting and uh and there's a lot of things going on here so what i'll do is i'll kind of see it off with a question and this is a justin something i saw you type in chat yesterday could you kind of just give us an idea of like how something like this thing can be used for flash loans as you kind of mentioned yeah uh so kind of the way that the ave flash loans work is there's a flash loan contract that uses like a request to call back paradigm so you send a request to obvi's lending pool for some asset if they have it they respond by sending you the balance and then uh calling your callback function so the thing is if you want to have some kind of custom functionality within that callback function you have to deploy a new contract every time or have some kind of way of telling it what to do so with with composable really you could just have one contract and as long as you encode the the calls correctly then it will just execute them sequentially through a loop and and you can it can really do anything and since it's a contract it can call other contracts of course so yeah it really makes it possible to do a lot of things at least within a flash loan people can build on top of that and it's nice because in particular the flash loans you're not really using your own assets i mean you can incorporate that of course so it's a good like testing uh spot because if for some reason your composed calls fail then the transaction will still revert if it doesn't get the correct balance back so um it could even be tested you know possibly on maintenance i would i wouldn't want to launch it yet but uh you know absolutely now that that sounds very powerful yeah very powerful and also i guess in some ways quite scary i guess the idea of kind of composing all these things together you know i check enough times when i want to send something to one address so the idea of kind of linking all these things up and sending them off in a sort of sort of hail mary pass to the blockchain and i hope it's all gonna work i guess that's quite terrifying so how have you sort of thought about that and is that are there things you're thinking about how to so to model model things out or understand how the calls are going to go or sort of test test this sort of vacation of this yeah so uh one of the nice things from pocket network which i you know i'm gracious for what they provided to us is uh it gives node access uh in particular archival node access which if you want to do something like that through inferior it's going to cost i don't know 250 a month so it's not really affordable to me personally but with a forked instance of mainnet on ganache and then you can uh you can actually test all of your calls on what would be the the actual regular blockchain data you know obviously i would encourage that before anything but the one of the like unique ways about this this the way that the composable works is like you can pose one call and then you can just like append it to the back of that and then append it to the back of that like each call can literally just be put together like in a row and it doesn't matter it shouldn't matter i mean i'm still working on it but the i got the single call to work and now it's just a matter of making it loop through them what was the uh what was the hardest thing about to build this it looks looks complex but i think the hardest thing was having to like finagle my way through assembly or yule but uh i actually found it pretty rewarding personally so [Music] i'm a little curious about how who you envision actually uh using this on the on the back end like um so i can see is it just someone who has an idea for a flash loan and knows how to string together these primitives sequentially in a way that they think is going to have the anticipated result and so do you envision this sort of democratizing access to flash loans and complex sequential actions like this for more moderately technical users yeah um actually like in particular with ave uh it kind of turns it into a margin uh trading platform in a way because you know it you can deposit an asset borrow swap for another asset redeposit and increase exposure to that asset alternatively if you're in debt with a certain kind of asset feasible you could swap that debt for another asset which would you know caught expose you to two different things at once so it really does introduce some weird things you know very cool amazing well if there are no more comments i want to thank all three of you tyler angela and justin for doing this demo and i hope you continue working on it uh because at best we just got a really good tool to test out uh to just kind of get this for for testing purposes if uh if uh we're not all comfortable with maintenance deployment on testing these strategies out but uh some of us uh do not like to test on broad um so i think thank you there we go that's it thanks again and we are ready to move on to our second last demo for us for the day and that is a team pool bet so uh the team is already here so whenever you're ready feel free to share your demo all right thank you um let me know if you can hear the audio it should be good we are not able to hear it oh here let me uh all right we should be all set hi we are pool bet and we have a concept that takes pool together's prize pools for no loss lotteries and now it takes it and turns it into a no-loss sports betting game with friends essentially our idea is that friends join into a league they bet on games that are available in that league they're scored on their performance and then the best performing better at a set time interval um is ended up rewarding it's ended up with getting that money in the end so if you look at our code here we have one uh public address which is the owner um to clarify i'm sure you may have seen in our github that we actually were not able to finish this we are very new to ethereum and so unfortunately we weren't able to get this but we were following uh kind of just learning about it learning the development process of solidity and getting used to it and so i'm gonna explain the basic structure that we have here and that's that's about it in terms of uh the substance of this presentation so the public address owner that's the owner of the contract then we've got a better which tracks their score how they're doing we've got a structure for a match that details each match and then we have mappings for the the betters we have an array of the addresses there so we could iterate through them um and there's a mapping for the matches that are in the event as well um below here we have we have functions that are intended for the owner so if it's only the owner uh calling it so for example say they wanted to add a better to the league um it would obviously require that the message sender is an owner um we have a place but public function that is enabled for bettors and essentially here is how it would work you would basically they would be calling in the match id they want to vote on and the team and it would then process the code make sure the better is in the actual uh smart contract and then it would push their bet into the correct uh match structure and uh we got the side match find winner would be called at the end of the time interval um to clarify who won and we definitely intend on finishing this project in the coming weeks or months depending on how everything goes but we definitely think that uh we have something interesting here and unfortunately we weren't able to finish it due to a lot of time constraints we weren't really we didn't have any common time to work together on this but um yeah we hope we hope to do more with this and we think we did a fair job for what we have uh thank you for listening have a good day thank you so much for that i mean i want us to congratulate you on submitting and still doing this judging today and i'm glad to hear that you're planning on continuing uh to work and finish what you wanted to do initially so um i'll kind of open it up for any comments or questions from our judges i'd like to say that i'm glad you guys are continuing to do this because people would absolutely use it in fact i remember i don't remember the exact thing i think might have been final four basketball last year people i remember a chat where people are talking about like well how can we not specifically use this pull together mechanism but custody funds for a bet um i'm curious like down the line would you want to add a layer of complexity to have the actual like oracle integration so that the results are verified because how do you how would you actually get the payouts is it all just like gentlemen's agreements in this circumstance right yeah so in this circumstance it would basically be like one one group of a friend would basically be the owner of the contract and so it was a very like limited scope because of we were new to it and we wanted to set something that was like somewhat achievable but when when i was originally thinking about it like i wanted to yeah integrate it with oracle's and have it fully decentralized to where it was all running um where it could literally just be fully autonomous no one you can fully trust it it's trustless um that's the end goal but if we get there i don't know but that's what we would want to achieve for for sure mike yeah thank you very cool and welcome welcome to the uh the ethereum community i i'm curious like what was i you know you mentioned that you're new here but um what was kind of the the most important thing you learned throughout this process and i would say difficult thing you struggled with i would say just the kind of concept of solidity development because i never programmed in the language before that works the way solidity does and kind of the concept of a smart contract it was it was very cool to see how you can interact with the contract and um the way everything works it was just it was all new to me but now that i have an idea of it like i'm kind of open to the possibilities with ethereum which is really exciting do you think you'll keep uh building stuff in solidity or are you are you like this is too this is too much no i i like it i think it's really cool um yeah it's a bit complex for where we're at like i do think it kind of confuses me but um i think as i keep learning i'll definitely get more and more excited to keep building awesome i'll help you stick with it good job you know good great first effort here thank you thank you awesome well um yeah welcome to ethereum and i hope i hope to see you in future 8 global events as well awesome thank you for having us thank you perfect so with that uh we are ready for our last demo for the day and uh i'm excited for this one so secure finance you are here so whenever you're ready feel free to kick off uh with your demo video hello okay let me play video hello everyone we are building a project called secured finance we provide credit risk-free blockchain based finance focusing on file coin ethereum and usdc we use ethereum smart contracts to manage collateral and provide automatic margin call traditional banks are making transactions over interbank networks such as swift for currency transfers there's no central controller so the interpac network has already been decentralized so our concept is to replace middle office and back office with smart contracts and deploy interbank system onto the blockchain we build yield curve and decentralized otc markets such as fx block trades term loans cross currency swaps the problem of current defy is that we can't sell 10 million ether through an exchange because it will crash the market we solve this issue by providing stability and liquidity also we don't have yield curve yet so we can't hedge future cash flows and that's why large corporates are slow so yield curve opens up the full-scale financial transaction capability so what's the full-scale financial transactions when i say a financial transaction it simply means a collection of future cash flows loans are basic form of all complex transactions you borrow money and you have to pay coupons and return the money at the end but you probably have to provide collateral to begin and deposits are just a flip side of loans you may want to request collateral interestingly if you combine a loan in deposit you can make a swap transaction in swap you don't need that much collateral because both cash flows will offset this gives the best efficient use of collateral we can roughly provide 10 times leverage for swap trace one example of swap is that clients can aim for profits from different interest rates between two currencies in this example clients can aim for seven percent of carry we built loan market for hackerfest and we added swaps at is online our mission is to bring fiat currency into crypto economy by giving more business opportunity to institutions lots of second layer services can connect to the primary layer institutions let's talk about how we build it key components are built using smart contracts so we created these contracts and designed the whole banking business operations as finite state machines here's a sequence diagram stored in our git repository here's our ui components we don't need to log in lastly here's pros and cons of our service we enabled cross currency swap and hope to help traditional banks to add a new profitable asset class to their business without integrating new system thank you very much and here's your tip here's money market view and this is a low market you can select country currency then select fixed terms now six months is selected then we can switch borrowing tab to landing tab it also includes peer id so if you have white list you can select your counterparty and here is the swap view first you select fixed term and select currency pairs for cross currency swap on the left is file coin and we can receive 8.1 while on the right is usdc and we pay 0.12 interest rates so the swap works like boring usdc and invest in fine coin to achieve carry trade on the right half shows interest rates for each currency and the purple color shows currency yield spread this carry trade strategy is one of the most popular investment strategy among hedge funds and private banks we think cryptocurrency provides great opportunities for investors because fiat currencies interest rates are nearly zero what's more powerful is that we can leverage this carry trade 10 times leverage enables 80 of return on collateral assets in this example which is extremely profitable and this has only been available to high net worth individuals but we make it accessible to everyone then here's the trade history we can filter sort and check the payment schedule and trade status awesome hello the ux looks really nice it looks very professional so great job on that i'm curious um why the why the big focus on file coin looks like this is something that could be used for lots of different things but it seems like you guys mostly focus on file coin actually it started from hack fs so i talked with one and i wanted to support a file coin uh ecosystem because just before mainly launch i was concerned about the price of fluctuation and caused by the big miners and they might want to sell a big amount of fat coin and uh yeah so yeah that's the beginning okay but could you see this expanding to kind of other assets as well yes yes yeah sorry yeah yeah we have usdc so basically we have capability of handling erc20 currencies so um you mentioned the goal of trying to to bring these tools to traditional financial institutions have you given any thought to you know privacy in terms of these organizations that might have to worry about regulatory compliance in terms of maintaining their own data privacy and that of their their clients yes uh actually and i already talked with regulatory authorities keep discussing with it and they were wondering how we achieve uh like a preserving privacy but at the same time we have to like give them a traceability so one way is to use a d id or and then we can like create a tool to like a partially disclose our identity not like a whole identity but it's enough that we have license or we have we are in us or something like that so it it can like screen the clients or peer-to-peer so uh i think that will help oh very cool and um how i guess at the moment this looks like there's no sort of price determination is that right it's kind of institution sort of pick and trade together or is there kind of like an order book or so initially we try to use oracle but it turns a lot turns out that the price is not executable because of the lack of the size so we said we decided to create market by itself so the loan market is a very very important thing because it it's it's a source of yield curve it's a reference uh because basically that's the oracle and we want to provide this price oracle to other external worlds and yeah to achieve uh financial stability so right now we are talking with eastern foundation falcon foundation to or um fico miners so institutional level players get together and exchange their like large size together and keep always keep showing the price means uh we can stabilize the market price fluctuation and that's the important thing to grow the whole entire crypto economy cool so it's kind of like a quote based market is that right so they're they're sharing a quote and we'll look at that yes yeah yeah what's the next kind of thing what's the next step for this like if you're going to build it out further what's the next few features you'd be adding yeah next feature will be zero coupon bond so basically we have loans lots of cash flows we can decompose into many zero coupon bonds then we can recompose again to create something interesting invest in products so that uh we can sell this product to banks and bank can sell this product like a structural deposit to their end clients so i i'm very excited to have like i built this one one last thing i'm curious about the beginning you mentioned that you have unique curves that will allow for lower volatility for high value transactions how what how are you achieving this yeah so we have a incentive mechanism to uh market participants to show the narrow spread and bigger volume so we have automatic margin call system and when the trigger is happened then liquidity provider is nominated and they have a like a 20 like a profit i mean chance of making profit by purchasing with discounted price that came from the penalty of the automatic liquidation so we we put some incentive mechanism into that so that liquidity provider can always show the best price cool awesome well uh senchi and dylan thank you so much for presenting and being patient until uh you uh or next on the queue and also congrats on still continuing to work on your hack efforts project it's always great to see people uh kind of continue this stuff and uh you've been working on this thing since july and uh that's uh that's really awesome to see that uh the interest in in the progress has been uh really great so thanks again um and uh with that i want to thank all of all of you for being here and uh uh just kind of helping watch the demos and for our judges thanks again for your time today i know a handful of us are in different time zones so thanks for making this thing work so with that i want to kind of close off this call and uh thanks again to ashley barney and justin for uh looking at all of our teams so thanks again everybody and i will see uh each of you tomorrow for the remaining demos bye