Featured projects from ETHOnline 2020 — Part 1
By: Da Crypto
Tags: Blockchain, Hackathons, Startup, Ethonline, Cryptocurrency

Therefore, do not miss out on the excellent projects in this year’s ETHOnline. Maybe you will find great projects like Uniswap.

The ETHOnline online hackathon ended last October. This is the 3rd biggest Hackathon this year. It took place during October, with a total of 710 developers from 65 countries participating, 175 entries in 39 different topics.

This article will summarize 12 excellent projects in the series this year’s ETHOnline final.

TABLE OF CONTENTS 1. LiquidL2 🇬🇧

* Prize

* Technology

* Description

*How It’s Made 2. बटुआ (Batua) 🇮🇳

* Prize

* Technology

* Description

*How It’s Made 3. Flashbank 🇮🇳

* Prize

* Technology

* Description

*How It’s Made 4. Syndicate 🇺🇸

* Technology

* Description

*How It’s Made 5. Stoploss Protocol 🇫🇷

* Technology

* Description

*How It’s Made 6. Unite.community

* Prize

* Technology

* Description

*How It’s Made

LiquidL2

LiquidL2 allows users to take out loans collateralised by their pending withdrawals from Layer 2 solutions. This means that for a fee, users can avoid a 7 day challenge period to get access to funds instantly.

LiquidL2: Demo

Prizes

4,000 aUSDC to the best hack on Aave

Matic : Best overall project (can be within any niche/category) — **$2,000**

: Best overall project (can be within any niche/category) — **$2,000** USDC runner up

Technologies

Ethereum, Solidity, Aave Risk Framework, The Graph API, Matic, USDC

Description

LiquidL2 is the first protocol which allows crypto users to trustlessly borrow against future cash flows.

This project allows the user’s to borrow funds backed by pending withdrawals from Layer 2 solutions such as Matic Network. It can easily be extended to cover any EVM compatible layer 2 solution such as Optimistic Rollups.

It does this by allowing users to create Withdrawal Vaults which allow lenders to give credit to users without having to trust that they will repay their loans as the Withdrawal Vault will always repay any debts before releasing funds to its owner.

How It’s Made

This project makes heavy use of Aave’s credit delegation vaults to allow the lenders to extend a credit limit to each user’s vault.

A Withdrawal Vault Factory contract is deployed to the same address on mainnet and Matic. Whenever a user asks to withdraw funds to mainnet, a Withdrawal Vault is automatically created for them which takes their funds and starts a withdrawal. This vault is deployed using create2 such that an identical vault can be deployed on mainnet ready to receive the funds.

Using the two subgraphs I have created, a lender can quickly see any new withdrawals through LiquidL2 and extend a credit limit to the vault on mainnet. The user which owns this vault can then draw a loan against this credit limit and do whatever they like with the funds (trade it on Uniswap, send to another L2, etc.)

After the confirmation period is over, anyone can poke the withdrawal vault to make it claim the funds from the L2. The vault is then guaranteed to use any funds to repay the loan it has been given and then send the remainder to its owner. This ensures that the lender will be repaid even if the borrower disappears and never interacts with LiquidL2 again.

Source code: https://github.com/TomAFrench/LiquidL2

बटुआ (Batua) 🇮🇳

बटुआ (pronounced ‘batua’) is a concept for cryptocurrency in India. It consists of a simple end-user wallet with a decentralised non-custodial stablecoin pegged to Indian Rupee.

बटुआ (Batua): Demo

Prizes

Matic : Most compelling DeFi project — **$1,500**

: Most compelling DeFi project — **$1,500** Biconomy: Open Idea — Min $1,000 — — Best idea in defi, gaming or anything using Biconomy. We expect you to be as creative as possible.

Technologies

Ethereum, Solidity, Biconomy SDK, Matic, Chainlink

Description

What is Batua…? Batua (बटुआ) is an end-to-end “concept” for cryptocurrency in India. 🇮🇳

The word Batua is the phonetic spelling of the word for “wallet” in the Hindi language.

Users of Batua transact entirely in Rupaysa, a decentralised non-custodial stablecoin pegged to the Indian Rupee.

⛓️ The project’s key objective was to clearly demonstrate what is technically possible today, combining…

well-understood crypto primitives 📜,

an emerging Layer 2 solution 📈,

some bespoke development 🔢

. …to make a robust and usable wallet, ready for adoption.

👨‍👩‍👧‍👦 The solution comprises:

a decentrally-governed and non-custodial mechanism for a stablecoin, pegged to the Indian Rupee, based on MakerDAO SCD, using a Chainlink Oracle populated from CryptoCompare. ⚖️

a minimalist web-wallet user-interface for sending and receiving Rupaysa, using Biconomy’s gasless meta-transactions to pay fees on Matic L2, for a simplified user experience. 😺

The result is a concept to help introduce users to crypto, for making everyday payments in India. 📅

🧐 Why Batua…?

India is an incredibly diverse country… but it is united in its use of the Indian Rupee. 🇮🇳

Digital payments for everyday spending are already common, where users scan QR codes with their smartphones and pay using real money. 🤳

With a population of 1.3bn and ~700m smartphones, it may be reasonable to expect Batua to find product-market fit in India. 🥳

How It’s Made

Specific Deliverables

UX Research & UI Design

— User Persona Definition

— Language and Localisation Research

— Information Architecture and branded UI Designs

— User Persona Definition — Language and Localisation Research — Information Architecture and branded UI Designs Stablecoin Architecture

— MakerCOW… a clone of MakerDAO SCD, deployed on Goerli (Layer 1)

— Chainlink Oracle presenting on-chain ETH/INR price feed from

— MakerCOW… a clone of MakerDAO SCD, deployed on Goerli (Layer 1) — Chainlink Oracle presenting on-chain ETH/INR price feed from CryptoCompare

— COW tokens as MKR-like governance tokens

— Dockerised scripted deployment of the end-to-end stack

— COW tokens as MKR-like governance tokens — Dockerised scripted deployment of the end-to-end stack Gasless Payment System

— Matic Layer 2 for retrieving account balance

— Biconomy meta-transaction relayer for gasless transfer

— Matic Layer 2 for retrieving account balance — Biconomy meta-transaction relayer for gasless transfer Web Wallet App

— Minimalist React web app at https://batua.bohendo.com

— Basic onboarding flow, minimalist UI and low-friction UX

— Alpha “investor” app at https://batua.bohendo.com/invest

Details of the Chainlink-powered oracle to set the peg price:

- Contract on Goerli: 0x07612C2dD1310dF712b61F510C08CA8c3fe2E883

- An example update on Goerli, fulfilled by a new chainlink node at https://link.bohendo.com, is available for review at this transaction hash: 0xdd131b71359407634eba6c8d6a62635ecf699669a71e6b2bf2fffac5d59e0c74

All work shared at github.com/batuaWallet.

Flashbank

Flashloan on top of Compound using delegated borrowing limits.

Flashbank

Prizes

Compound : Best improvement to the Compound Protocol — $2500 cUSDC

: Best improvement to the Compound Protocol — $2500 cUSDC Pocket Gateway + RPC Endpoint integrators

Technologies

Ethereum, Solidity, CTokens, Pocket Network

Description

The project uses compound’s delegated borrowing to allow suppliers of assets on compounds to make additional revenue by opening up their assets to flash loans. This allows all 1Billion dollars worth of assets to be open to the whole ethereum network to use as flash loans while allowing users to use their CTokens for productive uses.

How It’s Made

They used the following amazing protocols:

- compound

- chainlink

- pocket network

- compound - chainlink - pocket network While the compound is our lending provider, chainlink provides flashbank with price fees that the protocol uses to show stats on the home page. Pocket network is our RPC provider of choice!

They used delegated borrowing from the compound which unlocks 1billion worth of assets for the flash loan and generates additional revenue!

“What is worth mentioning is how light the protocol is, we intend to create a proper proposal for compound core protocol too!”

Source code: https://github.com/ethonline-xyz/

Syndicate

Syndicate is a web3 community chat app.

Syndicate’s demo

Technologies

Ethereum

Description

What is Syndicate?

— Syndicate is a web3 community chat app. While Syndicate functions similar to traditional chat apps like Discord or Slack, it also takes advantage of web3 technologies such as ERC20 tokens.

— Syndicate is a web3 community chat app. While Syndicate functions similar to traditional chat apps like Discord or Slack, it also takes advantage of web3 technologies such as ERC20 tokens. What can it actually do?

— With the invention of Cryptocurrency and Blockchain technology, the internet now has a trust-less way of verifying asset ownership. On Syndicate you can instantly create a chat room where members of the community must own a particular asset.

For example, if I want to create a community where only ChainLink Whales (people that have at least 1000 LINK tokens) are allowed to enter. I can create a chat room with such parameters.

How It’s Made

Syndicate is primarily a web app that reads Ethereum blockchain data via web3.js.

Users simply connect their wallet and Syndicate will look up public wallet information for chat validation.

The web app itself is built with:

— firebase for messaging

— React, redux front-end

— node js backend

— MongoDB for metadata store

Source code: https://github.com/rosepuppy/syndicate

Stoploss Protocol

The stoploss protocol protects Uniswap liquidity providers against impermanent losses.

Stoploss Protocol

Technologies

Ethereum, Solidity, The Graph API

Description

The stoploss protocol is a decentralized protocol against impermanent losses. Is allows Liquidity Providers (LPs) to limit their impermanent losses on Automated Market Makers (AMMs, eg. Uniswap) in a safe, automated and non-custodial way.

Problem Statement:

Impermanent losses for LPs is recognized in the industry as the biggest problem of AMMs:

“Impermanent loss is by far one of the biggest detriments to the success of DEXs like Uniswap.” — Lucas and Cooper

Impermanent losses for LPs is recognized in the industry as the biggest problem of AMMs: “Impermanent loss is by far one of the biggest detriments to the success of DEXs like Uniswap.” — Lucas and Cooper Stoploss.finance Alpha specs

Most LPs supplying liquidity to AMMs such as Uniswap suffer from Impermanent losses. Stoploss allows LPs to limit those losses via a protocol that triggers automated liquidations based on users’ maximum acceptable loss.

Example:

- Provide 700 DAI as liquidity in the ETH / DAI Uniswap pool

- Place a stop-loss order guaranteeing 500 DAI

- If the liquidity of the LP gets close to 500 DAI (500 + X%), LP position will get liquidated, 500 DAI will be sent to the LP. *

OR For the most bullish of us

- Provide 3 ETH in the ETH / DAI pool

- Place a stop-loss order guaranteeing 2 ETH

- If the liquidity of the LP gets close to 3ETH (3ETH + X%), tLP position will get liquidated, 3ETH DAI will be sent to the LP. *

How It’s Made

Smart contracts:

- Stoploss Factory => Create Stoploss pools + Stoploss Oracle

- Each Stoploss pool is linked to Uniswap router 02 and Uniswap pair.

- Each Stoploss pool uses the stoploss Oracle to get price data (TWAP of Uniswap Pair).

- Stoploss Factory => Create Stoploss pools + Stoploss Oracle - Each Stoploss pool is linked to Uniswap router 02 and Uniswap pair. - Each Stoploss pool uses the stoploss Oracle to get price data (TWAP of Uniswap Pair). Example : To protect against IL in the Uniswap ETH/DAI pair:

- We create a Stoploss pool through the factory and an oracle

- Users make stoploss order from this Stoploss pool. They can send directly LP Tokens, or they can send DAI that we convert for them into LP token, interacting with Uniswap Router Contract.

: To protect against IL in the Uniswap ETH/DAI pair: - We create a Stoploss pool through the factory and an oracle - Users make stoploss order from this Stoploss pool. They can send directly LP Tokens, or they can send DAI that we convert for them into LP token, interacting with Uniswap Router Contract. We have a subgraph that stores all Stoploss order created and all price oracle updates.

- We deployed on kovan on top of live Uniswap contracts. Everything works fine.

- Data to create stoploss order: web3

- Data to fetch stoploss orders states: the graph protocol

Source code: https://github.com/dhadrien/stoploss

Unite.community

They make it easy to automatically distribute tokens to reward social media engagement.

Unite.community

Prizes

Pocket Gateway + RPC Endpoint 2nd place

Biconomy: Open Idea — Min $1,000 — — Best idea in defi, gaming or anything using Biconomy. We expect you to be as creative as possible.

In addition to the ETHOnline hackathon, the project also won a special Hackathon SeedClub.

Technologies

Ethereum, Solidity, Biconomy SDK, Chainlink, Pocket Network

Description

Unite.community is a tool to automatically distribute tokens to your community.

Some social token issuers have experimented with distributing tokens on social media but have had to go through a tedious manual process of sending tokens one-by-one.

Rather than ‘pushing’ tokens to people, we have implemented a ‘pull’ process where users come to claim tokens.

They have built campaigns that let issuers reward people with tokens for social media engagement, for example for:

— being one of the first people to RT a tweet.

— being a follower in the case of a retrospective Twitter airdrop.

— adding a cashtag to your Twitter profile e.g. $unite

How It’s Made

The token issuer deposits the tokens being distributed into our reward pool smart contract. We support any ERC20.

Behind the scenes, we run a bot (currently centralized but in the future as a chainlink adapter) that determines who should be allocated tokens based on social engagement and these allocations are written to our smart contract. After a user has verified their Twitter account, they can withdraw their tokens to their own wallet by executing a function on our smart contract.

Once the user has their tokens, they might use them to gain access to token-permissioned content like private discord/telegram/newsletters / etc. We used Pocket Network to fetch metadata about the tokens being distributed including name and symbol.

They also implemented Biconomy to subsidize gas for users but unfortunately discovered after implementation that ethers.js, the front-end library we used, is not supported by Biconomy yet.

Project is live now: https://unite.community/