Southeast Asia Hackathon With Binance Smart Chain and Dora Hacks Comes to a Close

The Southeast Asia Hackathon with Binance came to a close recently, a recap of the event and the listing of the top 5 winners were released yesterday by the Binance Smart Chain blog.

Binance Smart Chain (BSC) SEA Hackathon Event

The Southeast Asia (SEA) event concluded on May 30, 2021, followed by the Binance announcement of the top 5 winners in various categories on June the 5th. The event was made possible through BSC network sponsoring Dorahacks, a global Hackathon organizer.

The event raised $27,394 in funding, which was distributed to the top 5 participating projects. The event comprised 31 teams from Singapore, Vietnam, Malaysia, Hong Kong, and Taiwan, all of whom submitted their project application for the Hackathon program.

A Look Into The Top 5 Projects

Following the official end on May 30, a 5-day grace period for the anti-Sybil attack detection and vote analysis commenced. Finally, the team posted the final matching pool distribution result on June 5. The top 5 projects include XCarnival, Bami Defi, Spherium Finance, Project ARK, and Sota Platform. The following reviews of the winning projects of the Hackathon were obtained from the BSC recap blog.

Project ARK

Project ARK is the world’s first carbon-neutral NFT marketplace for rare digital collectibles. They directly fund animal and environmental conservation efforts worldwide. The projects mission is to connect passionate artists with purpose-driven buyers to support international NGOs like the World Wildlife Fund (WWF) and organizations related to the environment.

The protocol signed a partnership with the WWF. Its first-issued NFTs will directly fund community-driven conservations creating collective rewards systems that turn communities into conservationists. In addition, the protocol has signed over 150+ artists from around the world, including Emmy award filmmakers, famous recording artists, and even the IP owner of Pokemon. To learn more about Project ARK, visit Hackerlink.

Spherium Finance

The India-based protocol is a mobile-first cross-chain wallet that optimizes the returns on crypto-assets while minimizing the risks involved within the transactions. The team plans to bring DeFi to the masses by making it a more user-friendly and all-in-one concept. 

Its dApp is currently compatible with BSC and Ethereum networks. They plan to move to Polygon Layer 2 to optimize speed, scalability and reduce transaction costs for users. The protocol is not bounded by one chain, and provision for listing projects to achieve cross chain is made possible by the integration of bridges which can help move tokens from one chain to another. To learn more about Spherium Finance, check Hackerlink.

Bami DeFi 

Bami is a Vietnamese DeFi project seeking to leverage the financial viability of DeFi. It’s an economic city in which the currency will be BAMI (Bami native token). In Bami city, the citizens (users) use BAMI for trades, exchanges, investments, including Bami Dashboard, Bami Exchange, Bami Lend, Bami Portfolio, Bami Pay, NFT.

Bami sees DeFi as a service and have implemented a multichain financial application that aims to bring permissionless money solutions to the mass, built to integrate interchain solutions in savings, payment, trading, money market, etc. The team has expressed in the Hackathon its intention to focus on the Vietnamese market in the early phase but has plans to move to the international market. The protocol will be open-sourced, and its governance will be by the community. To learn more about Bami DeFi, kindly check out its Hackerlink. 

Sota Platform 

Sota Platform is a Vietnamese-owned project that concentrates solely on the creation, sales, and distribution of NFTs. The platform will be on multichain with a start being on BSC and a gradual move to HECO chain and other chains in the future.

The team joins four others to become part of the SEA hackathon program 2021. To learn more about Sota Platform, check out its Hackerlink.

XCARNIVAL

XCarnival took the first position in the Hackathon event. Experts involved in establishing the new Generation Synthetic Assets Aggregator for everyone in the DeFi and blockchain space are from Australia, the United States, and China. The CEO is a serial entrepreneur, an expert in DeFi, and a well-respected influencer in the blockchain space.

The protocol aims to bring down entry barriers for users by providing new products that are easy to use and maximizing the platform’s liquidity.

XCarnival presented four products in the Hackathon, including;

XBroker an initial time-limited auction clearing mechanism

Megabox which allows users  to liquidate long-tail assets that suffer from limited liquidity

XAdapter which offers a simple interface and straightforward operations, making it much more user-friendly than any existing solution of its kind

XArena, which acts as XCarnival primary functions and provides several changeable and customizable parameter templates. It has a modular architecture that allows ideas into synthetic coins.

To learn more about XCarnival, visits the weblink.

Other participating teams in the Hackathon events include; Wooracle, Uptick, Deri Protocol, Hashtagger, Evolution Land, TrustFi network, etc. Visit the BSC recap page to learn more details about each team.

Source : bsc.news