A recent Solana hackathon generated unique ideas leveraging the blockchain’s architecture.
Solana and Serum announced the winners of a recent two week hackathon focusing on building DeFi projects on the Solana blockchain. A total of nine projects were eligible for the hackathon’s official prize pool, with an additional project winning a community prize.The winning projects are primarily new DeFi protocols, though some infrastructure and tooling solutions also made the cut.The two first place winners, Mango Markets and PsyOptions, won $50,000 in USDC-SPL, Solana’s bridged wrapper for USD Coin (USDC). Both projects focus on creating new trading platforms on the Solana blockchain, with Mango Markets building a margin trading and derivatives platform with fully on-chain order books. PsyOptions is building an American options platform, which allows exercising options at any point before expiry. Most popular crypto options markets today are based on European options, with a fixed expiry. Second place winners include Parrot, a bridging protocol for yield-bearing assets like automated market maker pool tokens; Synthetify, a Synthetix analog for Solana; Solrise Finance, a decentralized asset management project. These were eligible for $20,000 in USDC-SPL.Finally, third place winners were Serum Tax Time, a tax organizer for Serum traders; DTF Protocol, a yield aggregator similar to Yearn.finance; Sushi Warriors, a no-loss lottery game; Tenderize Me, a liquid staking solution for the SOL token. Third place winners received $10,000 each. The hackathon’s winners include a diverse range of DeFi products. Sam Bankman-Fried, CEO of FTX and advisor to Serum, …
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