[Binance] Binance Smart Chain Hackathon Start: $60,000 Sponsorship.

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Hello, this is @Brur.habib . Last month, Binance announced that it would donate $100,000 to Gitcoin, and this time, Binance X announced the news that Binance X will be participating in the Gitcoin Grant Matching Program Round 8 Hackathon as an event sponsor.

At this hackathon, Binance X will sponsor a total of $60,000 in prize money for various applications based on Binance Smart Chain, and it is expected that you will be able to meet DeFi projects and privacy transactions based on Binance Smart Chain.

1. Hackathon for Binance Smart Chain (BSC)

Binance X will bet a total cash prize of $60,000 for this hackathon and will sponsor a project built on the Binance Smart Chain. This hackathon, which runs from December 3 to 17, 2020, is expected to meet various solutions based on Binance Smart Chain, and aims to enrich the BSC ecosystem through this.

In this hackathon, 3 teams in the 1st place, 7 teams in 2nd place, 15 teams in 3rd place, and 60 teams of excellence will be selected. You get your back from injuries. In addition, event partners Arkane.network and Tenderly will be offering additional products such as pro developer licenses and team packages.

2. Hackathon Main Theme: DeFi + Private Transaction

The main theme of this Binance X-Gitcoin R8 hackathon is largely composed of DeFi and asset management applications, private transactions and dark contracts. You can see that it covers two of the hottest themes in the recent crypto scene.

(1) DeFi and asset management ideas

Binance is looking for developers to build and port financial protocols using the Panama Bridge (Binance Bridge). Demonstrates applications that connect the liquidity of Ethereum and leverage the fast finality and low fees of Binance Smart Chain.

  • Decentralized Exchange (DEX) ecosystem: liquidity, on-chain oracles, arbitrage trading bots, etc. Build a stop loss protocol to protect liquidity providers from impermanent losses.

  • On-chain decentralized order book: Build an on-chain decentralized order book that enables users to create limit orders for trading pairs by implementing a matching engine with smart contracts on Binance Smart Chain.

  • BSC Money Market Loan Protocol: Loan Protocol and Aggregator

  • Tokenized Synthetic Asset: Establish a synthetic asset issuance protocol that supports the issuance and transaction of tokenized synthetic assets using Chainlink and Band Protocol Oracle, and lists assets on Binance Smart Chain DEX.

  • DeFi showcase construction: joint savings products, decentralized mutual funds, insurance for deposits and smart contract risks, prediction markets (Augur, Omen), decentralized stablecoins, etc.

  • Build NFT and Game Showcase: Build applications that allow users to create, share, sell, and purchase digital collectibles

  • DeFi Yield Dashboard: Build a live dashboard that aggregates and filters all yields (APYs) of all yield farming projects on Binance Smart Chain.

(2) Private transaction and dark contract idea

  • Implementation of ZK rollups using zero-knowledge proofs based on Binance Smart Chain for arbitrary smart contracts

  • Build contract's dark mode (enable private transaction) library or SDK

  • Build a protocol that allows interchain contracts to be selectively dark mode

  • Dark mode + collateral + stablecoin building as if Monero met DAI

In this hackathon, there will be some support for porting projects on Ethereum, but there is a movement to more actively discover the native lending protocol of Binance Smart Chain. Personally, the most needed DeFi project for Binance Smart Chain right now is not liquidity supply or yield farming, but rather lending protocols and aggregators.

You may be able to find gems at this hackathon, so it's worth keeping an eye on which projects will win.

Thanks everyone ❤️

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