The project’s innovative appeal shone through as it shook off competition from several other participating projects to land in the top 3 in the event.
In the recently concluded DoraHacks’ Hackathon, Spherium emerged 3rd among the elite competition. The protocol announced their award-winning final position via Twitter on June 12th. The event is one in a series of hackathons organised by DoraHacks, a community-driven dApp development initiative in partnership with Binance Smart Chain (BSC). The aim was to identify and support promising nascent projects building on six chains: BSC, Polkadot, ETH, HECO, Filecoin, and Dora Factory.
The current series was targeted at new projects from South East Asia. From April 5 to May 20, South East Asia’s developers took turns to showcase their projects. Spherium Finance fended off stiff competition from 30 other projects to win the 3rd position.
What the Achievement Means For Spherium Finance
All the achievements of DeFi notwithstanding, users’ experience has not been at its best because of some limitations in the space. These limitations are what Spherium Finance set out to proffer solutions to. In this Medium post, Spherium referred to the unique DeFi issues it solves. According to the platform, DeFi users can access multiple financial services from within the protocol. Additionally, the platform offers smooth cross-chain flexibility, multi-wallet integration, and an efficient user-interface.
The feat fetched Spherium $4405.3229 in total prize money made up of community contribution and sponsorship funds. Beyond the money, the community’s recognition of Spherium’s potential means a lot to the platform.
In a Twitter post, Spherium thanked members of the community who voted in its favour. To show its appreciation, Spherium said it would reward 10 addresses that voted for it with 1000 units of its native token, the $SPHRI.
About Spherium Finance
Spherium Finance is a cross-chain platform that runs on BSC, Ethereum and Polygon blockchains. Spherium aggregates DeFi services. It makes it possible for users to access financial services from within it rather than sign up on multiple platforms where those services are individually offered.
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.