The Maker Foundation appreciates the wonderful talent, deep passion, and fresh ideas and products that come out of the many hackathons we sponsor. Last month, as part of our continuing effort to expand use cases for Dai in various mainnets and increase Dai adoption, we co-sponsored the Cosmos HackAtom in Seoul, South Korea. Over three days, around 20 teams totaling 80 people participated in the popular hackathon, building applications and services that utilize Dai in the Cosmos SDK.
Teams were judged on creativity, problem-solving, user experience, and use of novel technology and sound economics in two categories: DeFi, which only continues to grow in popularity, and Overall. In the DeFi category, the top three teams won a total of 1,425 Dai, and two of those teams also earned top spots in the Overall category. Congratulations to all of the participants and winners!
DeFi Category Dai Winners
1st Place: 1,000 Dai
Today, several ETH-based, decentralized lending platforms ask borrowers to provide collateral in exchange for services. Team Reborn devised a different approach using Dai and ATOMS. They built the lending platform in a way that allows validators to provide collateralization in exchange for rewards, rather than the borrowers providing the collateral. Reborn showed interest in continuing to develop its lending platform, and we look forward to watching the team’s progress.
2nd Place: 300 Dai
Team: Nonce A Team
GitHub: Thunnini/cosmos-sdk and Thunnini hackatom-frontend
Nonce A Team tackled an illiquidity problem caused by the 21-day unbonding process for staked ATOMs (ATOMs cannot be transferred during that time period). By allowing ATOMs as collateral, the team was able to let users borrow Dai, which solved the liquidity problem. Nonce A Team also won first place in the Overall category.
3rd Place: 125 Dai
Bobocoin’s model was simple but effective: Allow users to request and accept donations in Dai, and then track the donated Dai’s usage through Cosmos SDK. Bobocoin also won third place in the general category.
The Cosmos HackAtom hackathon allowed teams of developers to learn more about—and experiment with—Dai in a fun yet competitive environment, while building new professional relationships and making new friends. Watch the highlight reel:
Hackathons are where bold, innovative ideas come to fruition. If you think you have new ways to use Dai, or if you just want to learn more about the MakerDAO ecosystem, join us at upcoming meetups and conferences in Korea, including the Blockchain Gaming Meetup on August 20th at Hashed Lounge in Seoul, and the Digital Asset Technology Trend Conference on September 5th at COEX 2F Startup Center, also in Seoul.
To learn about events across the globe, visit the Maker Events page.