ETHIndia Hackathon by Devfolio and ETHGlobal was a blast! More than 300 hackers headed to the MLR Convention in Bangalore, India’s ‘Silicon Valley’, to hack for 36 hours and compete for over $11,000 in bounty prizes. Kyber was a sponsor along with other well-known projects in the Ethereum space such as Matic, Lendroid, NuCypher, Aztec, Torus, Aave, ENS, QuikNode, and DAOstack.
ETHIndia was a special trip for the Kyber team. It was the very first time Kyber had visited India to meet our friends and community there. Moreover, Kyber was part of InstaDApp’s (last year’s ETHIndia finalist) journey to the top, and they are now one of the most prominent DeFi projects today. This year, we continued to witness strong Kyber representation, with 9 projects using our protocol. One project was among the 6 winners, and another received an honourable mention!
Overall, it was amazing to see the composability of different blockchain systems and protocols in action through the variety of quality submissions. The passion and talent of the developer community in India is a big inspiration to us all.
On the first day, we were overwhelmed by the sheer number of community members that came to the conference and dropped by the Kyber booth. We were touched to hear that some of them had travelled long distances to attend the talks and to meet the Kyber team and other projects.
Introduction to Kyber Network
Before the official start of the hackathon, Kyber developer Desmond conducted a 30 minute presentation about Kyber, and how it provided on-chain liquidity for the decentralized economy. He covered the different reserve types that are currently plugged into Kyber, and highlighted some issues to consider when designing DApps.
Kyber Technical Workshop
Anton also demonstrated the various ways to quickly integrate projects with Kyber’s liquidity protocol. This included showing our Workshop Repository, teaching hackers how to incorporate Kyber’s smart contract into their own, how to use web3 to interact with Kyber’s smart contract, and how to utilize the widget generator to easily accept token payments in their website or application within minutes.
Of course, an Ethereum hackathon isn’t complete without grabbing some Kyber SWAG. Our new ‘I am Satoshi Nakamoto’ shirts were a hit at ETHIndia, and we gave out 200 special promo e-gift cards, which meant another 200 users learnt how to swap tokens in a fast, simple, and secure way through KyberSwap.com!
When you’re at a hackathon, it’s always important to get your energy up with enough (delicious) food and rest!
There were many interesting talks, and we had the opportunity to catch up with old friends and make new ones. We met the InstaDApp team and Patricio from Proof of Attendance Protocol (POAP), who gave us an exclusive ETHIndia NFT (non-fungible token) as our ‘proof of attendance’!
Anton was interviewed by the Fillerink student developer community, and we met up with team members from PrimeTrade AI, Marlin Protocol, and ENS. We also got to know the Torus team, who are based in Singapore and have developed a secure gateway to the decentralized ecosystem via Google or Facebook OAuth logins.
#dHack by DAOstack at ETHIndia
As part of the hackathon activities, Eylon and Shivani from DAOstack showcased decentralized hackathon (#dHack), which focused on funding continuity and allowing participating teams to continue work on their hackathon projects. Teams can submit proposals to request funds for their projects, and the hacker community and sponsors can vote on them. #dHack will also be at the upcoming ETHBerlin!
Bangalore Blockchain Community Meetup with Aave, Aztec, Matic, Kyber
Kyber co-hosted a successful Bangalore Community Meetup with prominent projects Aave, Aztec, and Matic, engaging our Indian community over a casual session with short Q&As and light refreshments. #DeFi project Aave was represented by Stani and Andrey, Arnaud shared about Aztec and its zero-knowledge privacy protocol, Jaynti on Matic and their scaling solution, and Shane, Marketing Manager and Sunny, Product Head from Kyber closed the session with a quick primer about Kyber’s origins and what our protocol can be used for. We’re glad that many individuals asked us important questions about Reserves and liquidity contribution after our presentation.
Projects that #BuiltwithKyber
We had 9 projects in total that competed for our Kyber Bounties, with 1Lend.io by CryptoManiacs going on to become one of the ETHIndia finalists! Throughout the hackathon, we saw how collaborative and helpful the Kyber developer community can be. For instance, despite not being at ETHIndia, Hammad, who was a previous Kyber hackathon bounty winner, was giving tips on Twitter, providing his version of a remix-friendly repo to get hackers up and running with Kyber supported trades and swaps in less than 10 mins.
Let’s learn more about these Kyber-powered projects:
With the plethora of decentralised lending platforms developed, it can be difficult to determine which ones have the most optimal lending and borrowing rates. 1Lend.io was developed by CryptoManiacs to aggregate these lending platforms in a unified user interface, with simple buttons for deposits and withdrawal of funds.
CryptoManiacs Anton and Sergej are no strangers to the hackathon scene, and they managed to win an outstanding number of bounties from Kyber, Lendroid, ENS, DAOstack and Torus, as well as being a finalist of ETHIndia! Kudos to them for their great work!
Crowdsurance is a peer-to-peer insurance policy platform. Users are able to purchase insurance policies with any Kyber-supported token as they have integrated the KyberWidget into their website. This project was developed by Gaurav Chaudhari and Samruddhi Bhangale.
KyberCallCollect by Calvin was built to facilitate easier adoption of crypto. New users typically have no ETH to send any transactions, but may have received ERC-20 tokens from someone or from an airdrop.
In the event they want to transfer these ERC20 tokens to someone else, they can transact out using a “Call Collect” logic, where the recipient pays for the estimated gas fee at the time of transaction. The sender would then have ETH to transfer the ERC-20 to the recipient.
ST_FI is a platform to enable parties from the finance industry (Eg. issuers, dealers, brokers, institutional investors, compliance officers etc.) to securitize the issuance of assets and make it available for trading. This project was developed by Seshanth s, Pradeep Kukunuri, and Aayush Gupta. Some members were also from the DAICO Hedge team who participated in ETHSingapore.
Price slippage is a prevalent issue when swapping large ERC20 token amounts. Breaking up the amount into multiple transactions helps alleviate the problem, but determining the split amounts can be a challenge. Using dynamic programming, SlipSwap provides the suggested amounts for the splits they can perform to gain maximum profit, showing the USD amount saved while taking into consideration gas costs associated with making more transactions. SlipSwap was built by Divya Khetan, Prafful Javare, and Jaineel Shah.
Team DonatETH, comprising Divyesh Puri, Anshuman Verma, and Aashutosh Rathi, aims to provide a platform for people to donate unused items to the needy so that they can benefit from it. Donators are then rewarded with karma tokens in return. This karma token can be used to purchase things from NGO stores. Users can simply book an appointment, where a picker will be assigned to them to pick up the donations and assign a karma value to those goods, which are subsequently credited to the onator’s account.
Pocket Bank provides a simple and intuitive UI for a regular savings account, where any user is able to deposit any of their tokens, and the DApp will convert their assets into DAI via Kyber, so that they can earn interest through Compound. SendWyre was integrated to let users convert their fiat into an asset they wish in a secure manner. Pocket Bank is by Thirok and Vishva.
Global Xchange, by Sujan Gowda and Kushagra Agarwal, is a Multi Dex Liquidity Relay Interface that emphasizes the user experience and ease of use. It has off-chain matching and on-chain settlement to enable better UX, convenience and prevents the frontrunning problem that is associated with DEXes.
VirtualHedgers is an ICO platform that allows investors to loan liquidity via the Lendroid Protocol to invest in potential projects. In return, they receive a fair amount of ICO tokens which can be swapped to a stablecoin through Kyber. VirtualHedgers is a project by Pranav maheshwari, Vaibhav Saini, and Parmesh Shiroya. They have written about their hackathon experience here.
Kyber Bounty Winners
Congratulations to the 5 Kyber Bounty Winning teams, who will receive $150 USD each in KNC!
- Pocket Bank
- Global XChange
We will distribute the bounties soon! Please contact Shane on Telegram, providing your name, team name, DApp name, as well as your DApp’s Devfolio link.
Thank You and See You Again ETHIndia!
We had a wonderful time at ETHIndia. We would like to thank all the developers, organizers and volunteers for making this year’s hackathon a huge success. Special mention goes to Devfolio and ETHGlobal for taking care of us in Bangalore. To everyone that #BuiltwithKyber, we hope that it was a good learning experience and that you will continue using Kyber in your future DApps. Join our developer community and KyberDAO chat, and never stop hacking!
Next up, Kyber’s hackathon journey continues at Berlin Blockchain Week (Web 3 Summit, DAOfest, Dappcon, and ETHBerlin). Come say hi to us in Germany!