Introduction

Xend Finance is a layer 2 DeFi protocol that allows developers to build solutions fast and cheaply. The core components are the Xend Finance SDK, Automated Yield Aggregator and the x-Vault system.

Starting September 21st, 2021, the Xend Finance DeFi Hackathon 2021 themed “Decentralizing Africa and Beyond” is officially launched at Hackerlink.io, DoraHacks’ open-source developer incentive platform. Xend Finance is sponsoring the hackathon with a $100,000 prize to encourage developers to showcase their talent and contribute with innovative ideas & projects on Xend Finance DeFi Protocol. There’s also $1 million+ worth of prizes, grants and investments from Venture Partners like Binance, Polygon, Heco, Huobi, Mapleblock and other top VCs.

Along with the generous prizes, we have designed a series of workshops to explain how to get started building on Xend Finance, Binance Smart Chain, Polygon and Heco, and other exciting workshops relating to DeFi regulations and fundraising for your crypto project.

We have dedicated a $20,000 pool prize for the HackerLink Grant, which allows the community members to fund early developer projects. The goal of this Grant is to fund open source developers' projects via donation.

Other prize categories for the hackathon include: Winners from Judges First: $30,000 Second: $20,000 Third: $10,000

Winners from Africa $10,000 and $5,000 in $XEND tokens

Winners from an African University $5,000 in $XEND tokens

Other Rewards include investments from sponsors, Grants, marketing, consultation and advisory services with deck, white-paper, tokenomics and exchange listing.

【A few ideas of projects you can build on the Xend Finance protocol include:】

• Loans backed by cooperatives deposits as opposed to collateral: Build a system that will enable cooperatives in Xend Finance to use their deposits as collateral while allowing a member of the cooperative to take a loan from the loan pool on Xend Finance. The Xend Finance Governance system determines the interest rate on the loan pool.

• Gamifying the Xend Finance protocol: Build a simple game that can allow users to learn how to use Xend Finance by actually performing transactions on Xend Finance through your game.

• Building an insurance system that supports the Xend Finance ecosystem and provides value to $XEND token holders. Xend Finance users should be able to buy insurance coverage on your platform with stable currencies to cover their deposits on Xend Finance. $XEND token holders can deposit $XEND in a pool to act as cover, and these $XEND token holders will get a percentage of the premium paid by users who purchase insurance.

• Save the Change: Build an app that enables customers of retail stores to save their change on Xend Finance after a purchase is made. The Change pool can be used to provide liquidity to the Loan Pool in (1) or Insurance Pool in (3) or just earning yield for the customers through the Xend Vault.

• Save the tips: Build an app that allows customers to tip service providers and save the tips on Xend Finance. This app can collect basic service provider details like name, email, place of work etc.

• Pension System on Xend Finance: Employees of businesses can select your app as a pension service provider. Your app will leverage the Xend Finance protocol to earn yields in stable currency and in $XEND. The employees can decide to withdraw their interest in $XEND and stable currency over a specified period or allow it to compound.

• Fiat-to-crypto on-ramp and off-ramps to allow easy onboarding of fiat holders onto Xend Finance.

• Trust Fund With NFT Certificates: Build a trust fund that will allow all parents to deposit money for their kids. An NFT is issued to each child, and after a given period of time, e.g. 1 year, interest accrued is issued to that certificate holder. After a certain number of years, when the child is an adult, the child can access funds in the trust fund based on parameters on the NFT certificate.

• Forensics A simple interface that will allow users to submit an address to view all the related transactions performed on all Xend Finance supported protocols (Native protocols on Polygon and BSC and then protocols like Venus, ForTube and DeFi dollar on BSC, Yearn Finance on ETH ). The transactions should be presented in an easy to view manner.

• An API that provides the following information above without an interface APY and Fee Compare: A simple interface or API that fetches the current APYs and fees across all the major DeFi Layer 1 protocols(Compound, Aave, DeFi Dollar, Venus, etc) in all major blockchains (Eth, BSC, Polygon, Solana) and displays them in a very easy to view manner. These APYs should be compared to Xend Finance Native Protocol APYs ( E.g. Yield aggregator in Polygon and x-Vault in BSC)

• DeFi Browser Wallet: Build a browser extension wallet similar to Metamask with direct support for saving and earning interest supported by Xend Finance. Users who download this wallet can use it as a normal wallet, but it will give the users options and notifications to click a button and save their idle funds to earn interest. This wallet should be able to show users the rewards they are missing out on. Example: A user with over 20 wallets will be notified that he has unspent funds for an x-period of time and is missing out on 15% APY on his supported currency and 70% APY on XEND tokens. The wallet should be smart enough to automactically swap tokens to any supported stable currency before depositing funds in the Xend Finance protocol.

Integrations with existing apps Integrate Xend Finance savings features to an already existing app with users through our Smart contracts, Javascript SDK UI or Core-SDK library. Integrate Xend Finance with an existing game or learn and earn service that teaches people about the blockchain.

Note to Xend Finance #builders:

You're encouraged to leverage this infrastructure to solve real problems and make what people want. Builders are also encouraged to contribute to the overall infrastructure, which will be open-sourced after the audit.

Voting Mechanism

Voter Support: Chat with us in Telegram if you have any voting-related questions! Link: https://t.me/hackerlinkvoter

https://vitalik.ca/general/2019/12/07/quadratic.html

We are inspired by Vitalik Buterin's work "Quadratic Payments" to implement this mechanism so that we can provide quadratic funding tools to the DoraHacks global hackathon community.

There are two funding sources -- the community donation and the sponsor's prize pool.

For individual community contributors: you can donate to any project(s) you like with your wallet. By clicking "Vote" following that project, you will be able to enter votes, and the smart contract will return the cost (or the amount of donation) for the votes. Your votes will eventually determine how the sponsor pool gets distributed.

Before voting, make sure your wallet is connected to BSC Mainnet, and you have $XEND tokens. The first vote will cost 1 $XEND token.

For more details about the hackathon, visit,

Website: https://hackathon.xend.finance/

Developer Documentation: https://docs.xend.finance/nodejs