August 12, 2022

Solana DeFi hackathon winners focus on DEX order books, interoperability

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Solana and Serum announced the winners of a recent two-week hackathon focusing on building decentralized finance projects on the Solana blockchain. A total of nine projects were eligible for the hackathon’s official prize pool, with an additional project winning a community prize.

The winning projects are primarily new DeFi protocols, though some infrastructure and tooling solutions also made the cut.

The two first-place winners, Mango Markets and PsyOptions, won $50,000 in USDC-SPL, or USD Coin (USDC) based on Solana. Both projects focus on creating new trading platforms on the Solana blockchain, with Mango Markets building a margin trading and derivatives platform with fully on-chain order books. PsyOptions is building an American options platform that allows exercising options at any point before expiry. Most popular crypto options markets today are based on European options, with a fixed expiry.

The second-place winners include Parrot, a bridging protocol for yield-bearing assets like automated market maker pool tokens; Synthetify, a Synthetix analog for Solana; and Solrise Finance, a decentralized asset management project. These were eligible for $20,000 inTitle: Solana DeFi hackathon winners focus on DEX order books, interoperability
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Published Date: Wed, 17 Mar 2021 15:15:30 +0000