Aave x HackMoney is back!
After a memorable edition last year, the EthGlobal team is back with a second edition of EthOnline and the HackMoney hackathon! Aave is proud to sponsor the event again and will be present during the whole event to support builders.
This edition gives hackers 3 full weeks to hack their best project on Aave and take their fair share of the 8000 aUSDC Aave prize pool!
The Aave Journey
During the last edition in April 2020, Aave was a 50M$ Money Market Protocol and the ecosystem was just discovering the use-cases of Flash Loans and debating the concept of stable rates.
Now Aave is a 1.8B$ Money Market Protocol with 20 assets and an imminent migration from the LEND to the AAVE asset allowing the Aave community to take full control of the Aave Protocol.
400M$ volume of Flash Loans have allowed swift liquidations for a safer and more resilient DeFi ecosystem and arbitrage for more liquid markets.
On average, 20% of all Aave loans are now using stable rates to protect borrowers from short-term volatility.
BUT we’re still in the early days of the Aave journey!
The upcoming V2 upgrade of the protocol will soon offer a wider playground for developers. The V2 architecture is very close to V1, migration of projects built during the hackathon should require minimal tweaks for a V2 upgrade.
3 Weeks, Endless Opportunities
David Truong prepared special documentation full of resources and ideas for this hackathon. Feel free to get inspired by the great work of previous hackathon winners and by the suggested ideas, but don’t feel limited in any way by the suggestions — we encourage you to express your creativity during the event!
The Hackmoney event will last for 3 weeks starting on October 2nd. Past experiences have proved that hackathons spanning several weeks are the best opportunities to convert a crazy idea to the start of a great application!
Developers are also invited to dive into our technical documentation and get familiarized with Aave’s original features such as Credit Delegation and Flash Loans.
We will be available on the official EthOnline Discord, and joining the community in the #Developers channel of the Aave discord is also always a safe bet!
Synergies are Welcome
DeFi is a CO-OP game! Success highly depends on synergies and strategies, and hackers leveraging the Aave Protocol and other protocols within the ecosystem are encouraged.
If you’re building a no-loss lottery system leveraging on Aave interest, feel free to use Chainlink VRFs to assure provably fair RNG.
If you’re building an Aave Flash Loan arbitrage app, building on top of Paraswap.io or Uniswap is the best road to success.
DeFi is all about breaking the silos of the CeFi mindset, and hackers are invited to think globally and build something that benefits the ecosystem as a whole while providing their own added value!
Prize Pool Upgraded
For our second participation in EthOnline, we decided to upgrade the prize rewards pool. This time, up to 8000 aUSDC will be distributed to the winners!
- 4000 aUSDC for the Winning spot
- 2500 aUSDC for the second team
- 1500 aUSDC for the follow-up team
Hackathons are always a great time to collect feedback from the community of builders and witness great things bloom in real-time. We can’t wait to see what you’ll build on Aave!
