Three Tezos DeFi Hackathon 2022 Teams Already Got Grants From Kolibri
In early April, our hackathon teams Bongo Cats, Levaki and WolverME offered the Kolibri community to fund the finalization and launch of projects that originated at the hackathon. On April 10 the voting ended, and the community voted in favour of the projects!
Here are the details of the funding and the projects the Tezos DeFi Hackathon 2022 teams want to do.
KolibriDAO and a Fund for Developers
Kolibri is a decentralized financial organization, the creator of the kUSD algorithmic stablecoin. Kolibri is community-driven through the Kolibri Governance Portal: developers make proposals, and kDAO token holders vote for them.
The Kolibri team also launched a fund for developers who want to develop the ecosystem. It works on the same principle as Kolibri Self-Governance: project developers publish a proposal and the amount of funding, the community votes “Yay” or “Nay”.
At the beginning of April, the fund had $76,500 in kUSD. The Kolibri community approved $28,000 for four teams. Three of them are participants in the Tezos DeFi Hackathon 2022.
The BongoCats Project
The Ukrainian team BongoCats developed an alternative frontend for Kolibri. It displays all data on Kolibri ovens and allows you to work with your own ones.
- light and dark themes with good readability;
- push notifications on oracle tez price updates – convenient;
- English and Ukrainian localization.
BongoCats plan to launch the front end in the mainnet, maintain it, fix bugs, and implement community suggestions. The team also wants to develop the Kolibri user experience: add notifications about kUSD price changes, the threat of user stove liquidation, opportunities to redeem other people’s “underwater” stoves and other important events.
Notifications are a great addition to any DeFi project, especially if its users risk losing money because they don’t check their portfolio every half an hour.
BongoCats received the first tranche of 2,500 kUSD and will receive another 2,500 kUSD within three months.
The Levaki Project
The Levaki team has redesigned the Kolibri interface towards greater user-friendliness. There is already a prototype (you may need a VPN).
All the important information is in a prominent place and on the same page, and you can immediately exchange tez for kUSD.
The Levaki team has also initiated mail notifications on major changes in the kUSD exchange rate. The issuers will immediately know about potential threats to their ovens, and traders will know about kUSD buying and selling opportunities. In theory, this will help make the kUSD exchange rate more stable.
The team also plans to launch a separate pool for tez/kUSD and create a Telegram bot to work with Kolibri and receive notifications.
The Levaki team received 5000 kUSD and another 5000 kUSD in a vesting contract for three months.
The WolverME Project
The solo developer Ehab has made a WolverME dashboard for tracking the Tezos portfolio. It displays:
- Tokens and NFTs in the wallet;
- Recent transactions on QuipuSwap and Plenty;
- The participation in liquidity pools on Plenty DeFi;
- Kolibri stoves: contract address, collateral and number of kUSD issued.
The developer plans to add more features so that users can fully work with their portfolios. For example, exchange tokens, put them into stacking, create new stoves, issue and redeem kUSD, and deposit funds to farms.
Ehab received the requested 6000 kUSD: 3000 kUSD immediately and another 3000 kUSD in a vesting contract for three months.
The Liquibrium Project, an AMM for Stablecoins
The Liquibrium team proposed to develop an AMM for a profitable swap of stablecoins, e.g. kUSD for wUSD. This requires money, first of all, to fill up the liquidity pool.
The team wants to lease 10,000 kUSD, develop the project, and return 8,500 kUSD to the developers’ fund in a year.
Liquibrium has already received funds.
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