A DeFi Future Unveiled at Virtual Ethereum Hackathon

This year’s ETHGlobal event has been renamed ETHOnline and is being conducted virtually due to COVID-19 concerns and global travel restrictions. The summit for one of cryptocurrency’s most-popular communities has been running for nearly the entire month of October and includes fireside chats with industry leaders, building workshops, and a hackathon with $125,000 in prize money. This past week has been primarily focused on the DeFi sector. DeFi Prime has taken a look at some of the most exciting projects that could be part of the scene in the not too distant future.

Most interesting #DeFi projects from @ETHGlobal#ethonline hackathon 🔥

Thread in no particular order
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— defiprime (@defiprime) October 25, 2020

A user interface-based smart contract code generator called DeFi_Blocks is creating solidity smart contracts for those with limited coding abilities. It uses a template taken from a basic strategy on Compound with Dai and can be modified to adjust performance, fees, depositors, rewarders, and the exchange. Another solution called Tenderize.me is building a liquid staking solution by combining stake-based protocols with automated market makers. It aims to avoid unbonding periods by providing a derivative token which can be used as collateral instead of waiting. A project called Stoploss is in the works to protect Uniswap liquidity providers against impermanent losses. xWin Investment offers platform fund management and social trading, while PermanentLoss.finance allows the utilization of options for ETH/stablecoin liquidity providers as another method of hedging against impermanent loss. Digital Euro Stablecoin Protocol is offering the world’s first decentralized EUR pegged stablecoin. The Ethereum Yield Curve is a project that puts arbitrage between traditional finance and DeFi on full display, while the Overlay protocol offers users the ability to trade nearly any scalar data stream. Split is a protocol for splitting tokens into fungible yield, governance, and capital components, and OSMOsis is a DeFi Yield Multiplier that redirects unused collateral from Aave to Balancer and mStable enabling leveraged yields. The list of new projects is too long to name them all, but other notable developments include Entropy Chain, Protekt Protocol, Tokenlog, GoodGhosting, Juicer Protocol, Unipeer, Crescendo, Croco Finance, SIGH Finance, Oligo, NewFi, Flavor Finance, and Mindful. With DeFi continuing to grow and showing no signs of slowing down, it is highly likely that many of these projects and concepts will be launched before the end of 2020.