🚀 Announcing the Fluxbeam Token Extensions Hackathon with Prize Pool! 🚀

We’re excited to invite you to the FluxBeam Token Extensions Hackathon, a unique opportunity for developers and degens alike to showcase their skills and push the boundaries of Solana tokens. Get ready to bring your token extension ideas to life and compete for incredible prizes!

📅 Duration: The hackathon begins today and will run for 60 days. The winners will be announced on May 1st, 2024.

🎁 Prize Pool: Over $25,000 in prizes.

🥇 Champion: 30,000 FLUXB, 75 SOL
🥈 Runner-Up: 15,000 FLUXB, 55 SOL
🥉 Third Place: 10,000 FLUXB, 25 SOL
4️⃣ Fourth Place: 7,500 FLUXB, 10 SOL
5️⃣ Fifth Place: 5,000 FLUXB, 5 SOL

Qualifications & Submission Requirements:

• 💡 Use at least one Token Extension in your token design.
• 📄 Submit a clear document detailing your token and its utilities, focusing on the extensions.
• 🚀 The token doesn’t need to be launched to be considered. Ideas and concepts are eligible!
• Tokens already launched can be submitted, as long as they use at least one Token Extension.

How to Make Your Mark:

🧠 Brainstorm: Let your imagination run wild with token extension concepts.
✍️ Document: Craft a compelling document outlining your token idea’s potential.
📤 Submit: Send in your idea and documentation to our designated submission channel.

Why Enter?

💸 Prize Pool: Compete for your share of a significant prize pool to kickstart your project.
🌟 Visibility: Gain exposure by listing your project on Fluxpad.
🤝 Community and Support: Join the Flux community of innovators and grow your brand.

Judges

👨‍⚖️ Judges from around the Solana ecosystem will be announced before the completion of the hackathon. If you have been building in Solana and would like to be a judge or a co-sponsor, please inquire through existing chats we have open or through Twitter DM’s.

Join the Token Extensions Hackathon — https://b9o3w70jowv.typeform.com/Fluxbeam
*One entry per wallet

Explanations and Submission Example:

Token Extensions Explained

Transfer Hooks: Allows for custom logic during a token transfer, which can be used for functions like implementing royalty payments for NFTs, compliance checks, or control-based actions such as freezing accounts in case of suspicious or illicit activities.

Transfer Fees: Allows token minters to set up and automatically collect fees on every token transfer, which can be customized for various purposes such as revenue sharing, funding community pools, or compensating creators.

Permanent Delegate: Gives a specific account “god-like” unlimited privileges to manage tokens for a mint, capable of actions like burning or transferring tokens without any restrictions.

Metadata: An addition to tokens that allows creators to include, change, or remove information about the token directly on the blockchain, making it easier to manage and use across different apps. Metadata can be mutable (able to be changed), or immutable (frozen in state).

Default Account State: Creates a control measure for token minters that automatically sets new token accounts to a frozen state, meaning wallets can receive tokens but cannot transfer them until the creator grants permission. This offers a way to regulate how and when tokens can be used after they’re issued. Can be used to “force” an action to unlock the underlying value.

Confidential Transfers: This extension allows users to send and receive tokens without disclosing the amounts transferred, maintaining privacy for sensitive transactions. The sender, receiver, and the fact that a transfer occurred are public, but the transaction amount is kept private.

Non-Transferable: Tokens that are meant to stay with one wallet and cannot be traded or transferred, often representing personal achievements or rights, identification credentials, or similar uses as certificates or loyalty cards.

Memo Required: Incoming transactions require a short message/memo to be included with every token transfer, like a note that tells you who sent it and why, ensuring clear communication particularly useful for accounting and record-keeping.

Metadata Pointer: This allows a token creator to define (point) where the metadata for the tokens will reside. This opens up more freedom for using new or emerging metadata standards.

Interest-Bearing: Allows tokens to generate interest over time, similar to how interest accumulates on bonds or other “real-world” assets, but the increase in token amount is only shown for display and tracking, it doesn’t create new tokens or additional on-chain value. This is strictly for cosmetic purposes.

Immutable Owner: A feature that locks the ownership of a token account, preventing the transfer of ownership to another address, which enhances security and ensures the account remains with the original owner.

Mint Close Authority: This allows a chosen address to permanently close a token’s minting ability, ensuring no new tokens can be created, which adds a layer of finality and control over the token’s issuance, and prevents unexpected dilution once mint close authority is revoked.

CPI Guard: A security feature that limits interactions with your token by other programs/dApps preventing certain unapproved actions. Think of it as putting a security barrier around your asset where only certain dApps have the entry code.

Hackathon Entry Example: “SolQuest”

Overview:

SolQuest is a decentralized, interactive game built on the Solana blockchain, designed to immerse players in a vast fantasy world where they can explore, battle, and collect unique digital items as NFTs. The game leverages Solana’s fast and low-cost transactions to provide a seamless gaming experience. By integrating several Token Extensions, SolQuest introduces innovative gameplay elements and ensures a secure, engaging environment for players.

Token Extensions Used:

Metadata Extension: Each in-game item, character, and land plot in SolQuest is represented as an NFT with rich metadata that describes its history, attributes, and abilities. This extension allows for dynamic updates to the NFT metadata based on in-game events, such as upgrading a weapon or changing a character’s appearance. It ensures that each NFT evolves with the player’s journey, adding depth and personalization to the gaming experience.

CPI Guard: To protect the integrity of the game and its assets, the CPI Guard extension is implemented to restrict unauthorized smart contracts from interacting with SolQuest’s NFTs. This prevents malicious attempts to manipulate game assets, ensuring that all in-game transactions and modifications occur through approved channels. It’s particularly crucial for maintaining the game’s economy and player trust.

Default Account State: When players acquire new items or characters within SolQuest, these assets are initially “frozen” using the Default Account State extension. Players must complete specific quests or challenges to “unlock” or “thaw” these assets for use. This mechanism adds an extra layer of engagement, as players are motivated to explore new content and achievements. It also serves as a form of content gating, ensuring that players experience the game’s storyline and challenges in a structured manner.

Gameplay Example:

Upon joining SolQuest, a player receives a unique character NFT with base attributes. As the player explores the world, they discover a rare sword, represented as an NFT with encrypted metadata detailing its origin and powers. However, the sword is in a default frozen state. To unlock it, the player embarks on a quest to find the ancient forge where the sword was originally crafted.

During their journey, the player must navigate through a series of challenges, to ensure that their interactions are secure and that the integrity of their assets is preserved, we use the CPI guard. Upon completing the quest, the sword is unlocked, and its metadata is updated to reflect the player’s achievements, enhancing its value and utility in the game.

Summary:

SolQuest combines the thrill of gaming with the security and flexibility of the Solana blockchain. By integrating the Metadata, CPI Guard, and Default Account State extensions, SolQuest provides a unique, immersive experience that pushes the boundaries of what’s possible in Solana gaming. This hackathon entry showcases the potential of Solana’s Token Extensions when paired with the emerging blockchain gaming sector.