What is Kyber?
Kyber is a fully on-chain liquidity protocol that allows decentralized token swaps to be integrated into any application, such as wallets, websites, games, payments, financial DApps etc.
Kyber’s protocol can aggregate liquidity from a wide range of reserves, powering instant and secure token exchange in any application.
Key features of the protocol include:
- On-chain settlement — both atomic and immediate on-chain
- Trustless transactions — trustless and transparent transactions
- Ease of use — bundling of multiple value exchanges into a single step for users
- Seamless integration — straightforward integration with dApps, no need for interaction with off-chain components and minimal security and development overhead
Kyber Hackathon Idea (Suggestion)
1) Gamification for Kyber trading adoption
Advanced Lottery system - Game of skill (sports predictions, trading game).
2) Off-Chain Virtual Orderbook Relayer
One strong advantage of Kyber is that liquidity is already on-chain (tokens and prices are already on the smart contract). Anyone can query the Kyber contract for the expected buy and sell rates, such as 1 or 2 ETH equivalent amount of a token. One can then reconstruct an orderbook with orders extracted from Kyber’s liquidity pool.
For greater accuracy, consider querying rates from individual reserve contracts instead of Kyber’s contract. In any case, let us denote orders extracted from Kyber as on-chain orders.
It would be cool to build a relayer that can combine Kyber’s model with an off-chain order matching model, where there are always on-chain orders relayed from Kyber, and users can also create new off-chain orders should they wish to sell/buy at a different price. What’s really interesting is how the settlement occurs between a new on-chain order with an existing off-chain order, since it may require interactions between different smart contracts.
Using Kyber’s protocol, develop any type of relayer application that combines Kyber’s model with an off-chain matching model. ( Example )
3) Advanced Trading Orders
Consider allowing for more complex trade orders (stop-loss orders, trailing loss orders, loop orders etc.) to be executed using Kyber. For example, a user can create and sign a limit order.
Build an application to collate these orders, and execute them on Kyber when the price reaches the desired limit.
4) Permissionless Liquidity Contributions
Design and create a new reserve type that incentivizes anyone to contribute liquidity through a simple, intuitive user interface, without the need for KYC. Alternatively, improve or streamline the existing process for liquidity contribution to the orderbook reserve on Kyber.
5) Open category
Build a DApp that utilizes Kyber natively for token swaps, payments, liquidity, or DeFi! The integration could be done via a smart contract, Web3 libraries or API.
- Margin / Lending DApp
- Create a mobile-first de-fi app
- Design Prediction market using Kyber
- KyberSwap - Referral system
- Multi-chain DeFi
Kyber DeFi Virtual Hackathon Blog
- Read the Hackathon Blog for more details.
What has been built with Kyber?
- Instant token swaps
Embed simple and atomic ERC20 <-> ERC20 token swaps in your application. Enjin and KyberSwap are examples of these.
- Single Step Payments
Expand your payment options for your users by accepting not just ETH, but ERC20 tokens too. Empower your users with the freedom of choice in pay in their favourite tokens.
- On-chain Fund Rebalancing
Achieve seamless liquidation of assets for the immediate rebalancing of portfolios in a single transaction. Take a look at bZx and DefiSaver for a glimpse of what is possible!
- Arbitrage Programs
Take advantage of market inefficiencies, since prices are not always the same across different price discovery venues, especially between off-chain and on-chain prices. Help improve price equilibrium across the market whilst profiting from it!
Kyber Technical Resources
Kyber Network Social Media
What is bZx?
bZx is an open protocol for shorting, leveraging, lending, and borrowing, powered by Kyber & 0x.
bZx Technical Resource
bZx Social Media
What is Chainlink?
Chainlink network provides reliable tamper-proof inputs and outputs for complex smart contracts on any blockchain.
Chainlink Technical Resource
Chainlink Tutorial Video
- Deploy and use a Chainlinked Contract
- Connect your Smart Contract to Off-chain Data
- Price feed demo
- Market Protocol: Chainlink Implementation
- Kaiko Chainlink Demo
Chainlink Social Media
What is Compound?
Compound is an autonomous money market protocol, that lets users earn interest on and borrow Ethereum assets. The Compound protocol has over a hundred million dollars worth of assets available to developers, today, that you can programatically access.
Inside the protocol, lending balances are tokenized; these are called cTokens. They represent the interest that a user is earning, and can be programmed, traded, and transferred.
Users can frictionlessly borrow any supported asset from the protocol, using cTokens as collateral.
Hackathon Ideas (Suggestions)
There are no wrong ideas! Our team is most excited about borrowing use-cases, and will help you build any conceivable application, but here are a few suggestions to get you thinking:
- Trade cTokens (representing balances inside Compound) on Kyber or a trading venue
- Margin trade using borrowed tokens on Kyber or a trading venue
- Create a “flash-lending” pool using Compound liquidity
- Create a system to allow users to easily repay their borrow balances using another asset (such as Ether), executed on Kyber or a trading venue
- Create a portable CDP-like system for Compound borrowing
- Help users prevent liquidation
Compound Technical Resource
Compound Social Media
What is melon?
If you do not already have a strong understanding of the financial industry, including how funds work, risk management, back office functions and the roles of financial intermediaries (eg.fund administrators), we strongly recommend reading the Melon Primer for background reading.
Melon is an open-source protocol which enables anyone to set up and manage a pooled asset vehicle on-chain, at a fraction of the cost of traditional funds. Melon automates the cumbersome back office and intermediary functions required in traditional finance using smart contracts. Key features of Melon include;
- Melon enables fund managers to define the key rules and parameters of the fund in a customizable way which are in turn deployed to the blockchain and enforced by smart contracts.
- All transactions are recorded (transparently and immutably) on the blockchain. The Melon smart-contracts calculate a daily share price of the fund with an on-chain price feed.
- All assets remain either in the custody of investors themselves and can be redeemed at any time.
- All data about fund performance is on-chain thus transparent, enabling investors and managers alike to compare fund allocation and performance.
- Melon is natively integrated with other decentralised protocols such as Kyber Network, 0xproject and Oasis Dex. It uses Kyber as an on-chain price source.
- By enabling investors to retain custody of their assets and enforcing fund parameters on the blockchain via smart contracts, Melon dramatically reduces the ability of fund managers to act fraudulently or malevolently.
Melon Hackathon Idea
1) Build a Melon fund which can act as a Kyber reserve manager for an asset pair
2) Build a user-friendly front end
3) Build another use-case on Melon infrastructure (eg. insurance fund, investment game,
4) integrate melon with another Defi protocol
Melon Technical Resource
Melon Tutorial Videos
- Melon Introduction Video
- Deep Dive into the Melon Protocol Video
- Integrating DEX into the Melon Guide Video
- Risk Engineering Instruction Video
- Front-end Architecture and overview of Melon Video
Melon Social Media
What is Synthetix?
Synthetix is a decentralized synthetic asset platform that provides on-chain exposure to real-world currencies, commodities, stocks, and indices.
The Synthetix protocol enables the creation of a wide range of tokens, each of which track the price of an underlying asset, including cryptocurrencies (long and short), indexes, commodities, and fiat currencies. These tokens (Synths) can be peer-to-contract (P2C) traded with infinite liquidity on our dApp, Synthetix.Exchange.
All Synths are backed by SNX tokens. Synths are minted when SNX holders stake their SNX as collateral using Mintr, a decentralised application for interacting with the Synthetix contracts. Synths are currently backed by a 750% Collateralisation Ratio, which means there is 7.5x the value of staked collateral compared to the total Synths minted. SNX stakers incur debt when they mint Synths, and to exit the system (i.e. unlock their SNX) they must pay back this debt by burning Synths.
Synthetix Hackathon Idea (Suggestion)
1) Kyber and Synthetix Integration
- Atomic Synth Swaps
In order to make the full range of Synths more accessible we want to launch a fork of the KyberSwap UI to enable any Synth to be purchased directly from the KyberSwap interface. By making all Synths accessible in the KyberSwap UI we will significantly expand the audience for Synths in the immediate term. Once users are comfortable holding Synths they may decide to test out Synthetix.Exchange, but even if they only ever trade Synths on KyberSwap the Synthetix contract will still capture exchange fees and pay them to SNX holders.
Completing this task includes the following:
- Write a contract to atomically convert ETH -> sETH -> Synths
- Fork the KyberSwap UI here and add all Synths
- Write unit tests for all functionality
- Integrate KyberSwap into Synthetix.Exchange. This would include forking the Synthetix.Exchange UI, which can be found here.
2) Best Use of Synthetix
Our team has brainstormed some suggestions, but there are sure to be more possibilities. We have a thriving community on Discord, so we’ve created a ‘hackathons’ channel for community.
- Create a data layer (e.g. TheGraph) for our system’s transactional information. This could be a portfolio tracker for individual wallets.
- A Telegram bot displaying regular Synth prices and/or SynthetixExchange trades
- A ‘Trollbox’ to be integrated into Synthetix.Exchange
- Discord integrations
- On-chain analysis
Synthetix Technical Resource
Synthetix Social Media
What is WBTC?
Wrapped Bitcoin is the first ERC20 token backed 1:1 with Bitcoin. WBTC will allow Ethereum to be leveraged to enable new dApps and use cases for Bitcoin.
WBTC Hackathon Idea
In order of novelty:
- A cross-chain atomic swap service from bitcoin to wbtc and vice versa
- A lightning submarine swap service from bitcoin to wbtc (erc20)
- A market making bot to buy and sell wbtc/eth, wbtc/dai
WBTC Technical Resource
WBTC Social Media