Congratulations to IdentDeFi and BankAPI3, winners of ETHDenver 2022 #BUIDLATHON API3 bounty challenges!
API3 and Amberdata launched Amberdata Beacons at the ETHDenver 2022 #BUIDLATHON, marking the first opportunity for Web3 developers to use Beacons. As the ETHDenver DeFi track sponsor, API3 offered bounties for several challenges to be solved with API3 technology.
API3 Grand Prize Winner: IdentDeFi
IdentDeFi thoroughly impressed the #BUIDLATHON judges with their submission, winning 2 API3 bounty challenges for a total of $7.5k as well as a DeFi track award, a Harmony bounty, and an honorable mention from the celebrity judges.
The masses against the classes ($5k) winner: IdentDeFi
Project that is judged most likely to attract the largest user adoption or show greatest commercial viability.
Unchartered waters ($2.5k) winner: IdentDeFi
Project that is judged to forge new frontiers in the DeFi landscape. DeFi has evolved from the well-trodden paths, such as over-collateralized lending platforms, into new use cases such as identity, NFTs and more. Show us how you can embrace new DeFi trends.
The ingenuity of this project is made clear in the IdentDeFi white paper. An open standard for zero-knowledge “know your customer” (KYC) enables dApps and decentralized protocols to do business as usual on Web3, pseudonymously, while staying compliant with KYC, AML, CFT, and regulations such as sanctions and age verification.
“We’re incredibly excited to see what the future holds for IdentDeFi and API3 as we continue to build on top of their Airnode infrastructure, allowing IdentDeFi to bridge off-chain and on-chain data securely and efficiently with no intermediary. This will serve as a critical building block for Identdefi’s zero-knowledge compliance standard and ultimately pave the way for widespread protocol adoption.”
— Casper Yonel, Co-Founder, IdentDeFi
“We’re proud to be an ingredient in a compliance protocol that’s crucial for DeFi to continue its rapid growth as it becomes a mainstream financial market.”
— Ryan Boder, API3
API3 Runner Up: BankAPI3
BankAPI3 presented an inspiring vision and surprised the judges by creating an escrow-based payment method that creatively uses Beacons to ensure an exchange rate threshold has been met before executing the transaction.
Say what! ($2.5k) winner: BankAPI3
Project that is judged to be the most surprising use of API3 Beacons. We’ll be impressed with projects that unexpectedly break the mold or break our brain!
In addition to this exchange-rate conditional payment method, BankAPI3 intends to launch innovative Web3 banking features such as instant transfers, loans, and closings.
“It was a great learning experience for our team using the API3 Amberdata Beacons, and I would recommend everyone to use this as an oracle for fetching on-chain pairs prices. Also, we are looking forward for more features in the project, so stay tuned for it.”
— Ragib Hussain, BankAPI3
API3 would like to extend a special thanks to ETHDenver for organizing and hosting this exciting event as well as all #BUIDLATHON buidlers.
About API3
The API3 Foundation is a Decentralized Autonomous Organization (DAO) leading the movement from legacy third-party oracle networks to first-party oracle solutions that deliver more security, efficiency, and regulatory compliance. Powered by Airnode first-party oracles, API3’s Decentralized APIs (dAPIs) are decentrally controlled and blockchain-native data feeds with quantifiable security.
For more information about API3 see API3.org. Join the API3 Discord to connect with us!
