Algorand INNOVATE Hackathon Winners
We’d like to congratulate all teams building for the Algorand INNOVATE Hackathon and announce our Winners. Hackers’ were presented with three themes to build projects that would further promote the growth of the Algorand ecosystem.
FutureFi - The Future of Finance
Teams tasked to use Algorand technology to build solutions revolving around the creation of unique digital representation of assets that go beyond traditional financial instruments.
A broad category for teams to be bold and discover unique distributed applications (dApps) utilizing the power of the Algorand blockchain.
Grand Prize ($40,000 USDC) - DeFi Mono
DeFi Mono from team members, Dallin Wright (DeFi Mono Founder, @dallinwright01 ) and Glòria Escobosa Morera (Community Manager, @EscobosaGloria ) set out to growing the Algorand ecosystem by building a decentralized finance insurance and derivative platform.
Per Dallin Wright, DeFi Mono is a project bringing Algorand Standard Asset (ASA) price protection to the Algorand blockchain, with no subscriptions and no gotchas. We started with the mission of lowering the barrier of entry to Cryptocurrency and taking the uncertainty out of investing. As simple as you want crypto price protection for your investments, or stake assets and get rewarded with the premiums sold.
Runner Up ($20,000 USDC) - Algoridge
Arpit described Algoridge as an oracle based bridge between Avalanche C-Chain and Algorand. It has liquidity providing features on both the chains. The project will soon integrate Terra using Cosmwasm for UST swaps.
You can view Algoridge’s repo on Github here.
Digital Art/Collectibles Challenge ($10,000 USDC) - MetaPunks
MetaPunks from team members Liquidated (@wackloner ), Valery Che (@qumeric) , and Daria Yakovleva (@DariaYakovleva ) grabbed the top prize for the Digital Art/Collectibles Challenge with their NFT generative collection sale with randomization support.
Daria Yakovleba explained that the team developed a code generator that generates 8 different smart contracts in Reach (1 contract to buy 1 NFT, 1 contract to buy 2 NFTs etc.) for the NFTs’ purchase, a backend application that sends NFTs into a smart contract, and a frontend application in React for the user purchase interface.
FutureFi Challenge ($10,000 USDC) - Algo Launcher
Algo Launcher from team members Robert Zaremba and Ratik Jindal won the top prize in for the FutureFi - The Future of Finance Challenge for their token launchpad for the Algorand ecosystem.
Robert Zaremba explains that with Algo Launcher everyone can create a token sale in order to get essential funding for the project development. The sale mechanism combines an auction with subscription. All participants buy a portion of the supply and the price is dynamically evaluated based on the demand every second.
Open Theme Challenge ($10,000 USDC) - Algo News
Algo News takes home the final prize with their decentralized news aggregator and discussion board stored on the Algorand blockchain.
Algo News describes their project as a decentralized news aggregator and discussion board living on the Algorand blockchain. Content published through AlgoNews will be available to everyone forever. Publishing quality content is rewarded financially and the community can curate content through upvoting and archiving.
Please join us in congratulating our winners and show them some love on social media.
If you did not have the opportunity to participate in this hackathon, don’t worry we have several hackathons coming up in 2022, keep an eye on @Algodevs on Twitter and in the Algorand Discord Server for invitations to join.