Tezos DeFi Hackathon 2022 Report: How the Participants Are Progressing

Tezos DeFi Hackathon 2022 Report: How the Participants Are Progressing

A fortnight ago, the participants of Tezos DeFi Hackathon 2022 selected their challenges and proceeded with their work. Most of them had no prior experience in blockchain development, and we tried to provide them with as much information as we could: we collected documentation, organized 74 meetings with technical mentors, and created a separate channel for communication with partners.

Here, we’re reporting on the participants’ progress, what they plan to do at the end of the hackathon, and what the mentors think about their work so far.

What Do the Participants Ask About

The main difference between Tezos DeFi Hackathon 2022 and other blockchain hackathons is the focus on challanges. Participants solve the problems invented by the partners instead of bringing in their own original idea and winning with it. We chose this approach to make sure the participants would make useful projects for the ecosystem and continue to work on them.

However, our approach had a drawback. Most assignments were based on pre-existing partner products. For example, in the Ubinetic challenge you have to use the oracle of the same name, and in the Plenty challenge you have to use the LP-tokens from the Plenty pools. Not all partners made the code and documentation publicly available, so participants asked a lot of questions about working with the products. From the chats with technical mentors and partners one can already make an encyclopedia about Tezos (and we are already doing it).

Even during the registration, participants asked basic questions about Tezos and cryptocurrencies in general: how blockchain works, who performs smart contracts, what gas is for, and so on. But as the kick-off approached, the focus shifted toward complex topics: how to remotely sign a transaction without using a tezos client, what rules the compiler uses to sort map and big_map values, and how to clone a project for testing.

The participants are now mainly discussing the best ways to implement certain functionality, build tokenomics, and shape the interface.

The Progress of the Teams over Past Two Weeks

Every week, the participants call the team mentors and talk about their progress.

There are no problems with motivation. According to the rules of the hackathon, only the team lead should be present at the meeting with the team mentors, but the teams come in their complete line-ups. We expected that they would need help in organising the work, but the participants built schedules in Trello and similar applications on their own, and now follow the plan.

Although the last day of the Tezos DeFi Hackathon 2022 is a week and a half away, some teams have already completed smart contracts or even made MVPs. Judging by the pace and quality of work, the partners and the jury will face a hard time choosing the winners.

And finally, some good news for Tezos. Technical mentors are already thinking about inviting some teams for internships, while certain participants plan to get grants and continue developing on Tezos. We can’t reveal all the details yet, but we’ll tell you all there is to know about it once the hackathon is over.

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