Ethereum-Focused Hackathon Event Offers a Sneak Peek Into a DeFi Future

Ethereum-Focused Hackathon Event Offers a Sneak Peek Into a DeFi Future

HackMoney Hackathon, a 30-day digital Aave hackathon organized by Ethereum developer group ETHGlobal, has introduced its three successful tasks—Learn&Earn, a gamified on-line studying platform, YieldHero, a collection for managing Aave, and MagicBet, a no-loss betting platform that permits customers to stake DAI.
Hacking Lending and Money Maker Protocol Aave
Organized by ETHGlobal, a company centered on onboarding customers and builders to the Ethereum neighborhood, the HackMoney Hackathon has attracted over 50 tasks that competed for $300,000 price of prizes by hacking the Aave protocol.
The cash maker protocol was utilized in revolutionary methods, starting from on-line schooling to one-stop suites for managing curiosity and yields. Judges Vitalik Buterin, Stani Kulechov, Andreas Antonopolous, Thomas Bertani, Ashleigh Schap, and Robert Leshner introduced the three successful hacks—Learn&Earn, YieldHero, and MagicBet.
According to HackMoney’s announcement, Learn&Earn positioned first with its novel strategy to on-line studying. The platform gamifies the educational course of and provides its college students the flexibility to earn monetary incentives for finishing numerous on-line programs. Out of all of the submissions, the corporate stated that his hack has “real-world purposes” and the potential to scale within the public sector.
Innovative Ethereum Products
The second place in HackMoney’s hackathon was awarded to YieldHero, a protocol that gives customers a one-stop suite for managing their Aave yield. Aave allows customers to deposit cryptocurrencies to the platform and earn yearly curiosity on their funds. The hack utilized a number of options to allow customers to get the perfect yield by swapping their cryptocurrencies for aTokens, Aave’s native cryptocurrency.
It additionally has a person interface that permits customers to redirect their curiosity to assist Ethereum builders. A built-in leaderboard additionally reveals which person is redirecting most of their yield.
MagicBet, which ranked third on the hackathon, utilized Aave’s yield capabilities for betting. The no-loss betting platform allows customers to guess on real-life future occasions by staking DAI.
All of the staked DAI accrues curiosity for the person by way of Aave till the occasion happens and the end result is understood. Users that predicted the end result appropriately get a share of the whole gathered curiosity, whereas all the customers who misplaced the bets get all of their stakes again.
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