Compound is sponsoring ETHGlobal’s Autumn 2020 occasion: ETHOnline. This digital occasion contains a world hackathon and studying periods with main innovators within the Ethereum group.
Along with studying concerning the newest in ETH 2.0 and new EIPs, hackathon members have the possibility to compete for $125,000 price of prizes. Compound has created three bounties to encourage hackers to innovate in DeFi.
These are the three bounties, totaling $5,500 in cUSDC prizes.
- Most unique venture that makes use of Compound.js: $1,500 of cUSDC
- Finest Compound Governance tooling: $1,500 of cUSDC
- Finest proposed enchancment to the Compound Protocol — $2,500 cUSDC
Let’s stroll via some legitimate hackathon venture concepts to get groups began constructing.
Compound.js is a JavaScript SDK for Ethereum and the Compound Protocol which helps Node.js and the online browser. It’s a wrapper round Ethers.js. The bounty prize will go to the crew that implements the SDK of their venture with essentially the most unique DeFi use-case.
Hackathon Venture Concepts:
- Construct a easy, open supply person interface with all Compound Protocol features utilizing Compound.js.
- Construct a full stack software that sends customers e mail and/or textual content message alerts when Compound Governance occasions happen. This venture would double-count towards this bounty and the Governance device bounty.
- Construct an data and knowledge visualization dashboard for the Compound Protocol rates of interest over time. There are different metrics like provides and borrows that may be included.
- Construct a recreation the place NFTs are awarded to Compound customers primarily based on undertaking sure actions; for instance, obtain a “First Provide” NFT for every market on Compound, that customers obtain if they provide to these markets.
- Construct a market for delegated borrowing limits; for instance, if a person has equipped 100 USDC to Compound however has borrowed nothing, they may “promote” their obtainable borrowing capability on a market to another person.
Compound Governance arrived earlier this yr to totally decentralize the dwelling, on-chain Compound Protocol. This new mechanism of community-led upgrades has created a brand new alternative for innovation. The bounty prize will go to the crew that creates the most effective Compound Governance associated device. The submission will be an software, SDK, API, or good contract(s).
Hackathon Venture Concepts:
- Construct a COMP delegate tracker that reveals the place an handle’ delegates got here from over time.
- Create a novel system that rewards participation in Compound Governance. If this features a protocol patch, it might double-count towards this bounty and the protocol enchancment bounty.
- Create a full-stack, gas-less delegation or voting web site for people or corporations. See the ultimate part of the ETHOnline Compound.js workshop video (supply code is accessible on GitHub).
- Construct a market the place delegates can supply rewards, or solicit fee, for representing COMP-holders in Compound Governance.
- Construct tooling that lets customers focus on, suggest, or vote on governance points via Twitter or different in style platforms for crypto customers.
- Develop a system that makes it simpler for the Compound group to coordinate governance actions; for instance, the place they may construct a roadmap collectively, relatively than focus on every proposal separately in a vacuum.
The Compound Protocol is a community-led Ethereum venture. Any developer is ready to make code modifications that may finally be applied via governance.
To jumpstart group contribution, a information was created to stroll builders via the method of making a protocol change (A Walkthrough of Contributing to the Compound Protocol). The bounty prize will go to the crew that creates and proposes the most effective enchancment to the Compound Protocol.
Submissions for this bounty ought to intention to really submit their proposal to Compound Governance for consideration, although doing so by the top of the hackathon interval will not be required.
As a bonus reward, proposals to Compound Governance may additionally request a further success grant for the developer(s), paid out of protocol reserves.
Hackathon Venture Concepts:
- Deploy a Comptroller optimization. At present, the Comptroller contract is close to the Ethereum contract measurement restrict. A refactor of this contract may very well be useful for ongoing function growth. Extra particular particulars for this are outlined on the Compound Neighborhood Discussion board.
- Compound Protocol fuel optimizations. Gasoline prices may very well be lowered with totally different implementations of core protocol features.
- Rate of interest mannequin (IRM) modifications. Every cToken contract has the flexibility to level to its personal distinctive IRM. A handful of IRMs are used for the present set of cTokens, however this may be modified because the group sees match. Creation of a model new IRM might maybe be one thing the group desires however doesn’t understand it but.
- Experiment with including assist for brand new asset sorts — for instance, rate of interest markets for NFTs, indices of tokens, or real-world property.
- Develop a complementary rate of interest mannequin or mechanism that allows supplying and/or borrowing at fastened rates of interest.
- Implement provide caps for brand new cToken markets, so there’s a most quantity of provide allowed into the protocol.
Listed here are some bounty winners and notable initiatives from ETHGlobal hackathons in 2020. All of which included the Compound Protocol of their tech stack.
- DefiHedge — A decentralized protocol for fixed-rate borrowing & rates of interest
- cChannels — A crypto “bar-tab” sort of fee system that makes use of the Compound Protocol for curiosity and borrowing with ETH and DAI.
- Atomic Ninja — An atomic Ethereum transaction batcher with a drag-and-drop person interface for aggregating varied DeFi techniques.
- Medici — An interest-earning pockets for digital money.
- Maximus — A group owned/ruled model of MakerDAO that allows supplying/borrowing with Compound.
- tCDP — Automated motion of property amongst DeFi protocols to keep away from liquidation fears in over-collateralized borrowing.
- Defido2 — {Hardware} pockets CLI that has features for DeFi, which embody supplying ETH and DAI to Compound, in addition to borrowing.
- NFWallets — A browser primarily based pockets that allows customers to make the most of a lot of DeFi.
- Suicide Kings — A no-loss ERC1155 recreation the place gamers vote to win curiosity generated with Compound.
ETHOnline is already underway. Groups are starting to kind and venture concepts are being brainstormed. The Compound crew is right here to assist. Be part of us within the #sponsor-compound channel of the ETHGlobal Discord or the #growth channel of the Compound Discord.
We can assist out with hack concepts, use circumstances, UI/UX, technical questions, code, and extra. Make sure you take a look at the Compound Documentation for developer guides, contract addresses, and code examples.
Supply code for initiatives can be found within the Compound GitHub group. Blissful hacking and better of luck to the hackathon members!