The theme for RSK in the Chainlink 2021 hackathon is DeFi on Bitcoin.
DeFi is the revolution in money that Bitcoin started in 2008. As opposed to the centralized systems of traditional finance, DeFi leverages blockchain technology to enable decentralized, peer-to-peer financial systems. Although still in its infancy, DeFi promises a complete transformation of the ways in which we conceive, create, own and use money.
New solutions are coming up almost every day and some of them have great potential
DeFi on Bitcoin
RSK expanded the options by enabling DeFi on top of Bitcoin. Our vision encompasses not only the future of DeFi but also of Bitcoin and that’s why we have combined them. RSK’s merged mining with the Bitcoin network, plus it’s 1:1 peg between BTC and RBTC are a key part of this. Ever since the early days of DeFi, enthusiasts have been asking whether Bitcoin will ever join the DeFi revolution. DeFi platforms such as Money On Chain (MOC) and RIF are a testimony to the enormous potential of DeFi and how it is making finance more inclusive and easily accessible. See https://www.rsk.co/openfinance/ for an overview of this flourishing ecosystem.
The DeFi ecosystem on top of Bitcoin has been growing, with more products available set to achieve broader adoption, but many opportunities are still unexploited, so through the support to Chainlink Hackathon we hope to foster new developments making decentralized finance on Bitcoin a reality.
As participants you stand to win up to $5000 in prizes! Each prize is worth $1000, and will be awarded for building on one of four RSK DeFi protocols: Sovryn, Money on Chain, RIF on Chain, and RskSwap.
Sovryn bounty
Sovryn is a trading platform that enables margin trading, swaps, borrowing, lending, and liquidity provision. Check out https://sovryn.app/
Update: Sovryn has decided to make available not one but two bounties, so the total value has now doubled to $2000.
There are two specific bounties available, with a value of $1000 each. Both involve writing automated trading bots: (1) Write a bot which listens for conversion and liquidity removal events, and (2) Write an arbitraging bot which trades USDT, RBTC, and BTC. We will post full details of these bounties in our Slack group in the #chainlink2021 channel.
Money on Chain Bounty
Money on Chain provides DOC or Dollar on Chain, which is a stablecoin collateralized using BTC. It also has BPRO, BTCX, and a governance token.
Check out https://moneyonchain.com/
The Money on Chain bounty has a value of $1000. The requirements are open-ended:
- Integrate with Money on Chain
- Deploy on RSK Testnet or RSK Mainnet
- Interact with Chainlink
RIF on Chain Bounty
RIF on Chain has a very similar offering to Money on Chain. The main difference is that RDOC, RIFPRO, and RIFX are collateralized using the RIF token instead of BTC.
Check out https://moneyonchain.com/rif-on-chain/
The RIF on Chain bounty has a value of $1000. The requirements are open-ended as well:
- Integrate with RIF on Chain
- Deploy on RSK Testnet or RSK Mainnet
- Interact with Chainlink
RskSwap bounty
RSK Swap is an automated liquidity protocol. It is the equivalent of Uniswap v2 on the RSK network.
Check out https://rskswap.com/
The RskSwap bounty has a value of $1000. The requirements are also open-ended:
- Integrate with RskSwap
- Deploy on RSK Testnet or RSK Mainnet
- Interact with Chainlink
Talk to us
We are stoked to have all of you participating in this hackathon with us. We know that you probably have a tonne of questions about RSK, RIF, DeFi on Bitcoin, and of course, these hackathon bounties.
So come talk to us, and ask us lots of questions. The best place for that is on our Slack group, which you can join at https://developers.rsk.co/slack – be sure to enter the #chainlink2021 channel!
We are eager to see what all of you come up with in this hackathon! Good luck!
