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FraxStar-FraxBUILD Hackathon Winners
The inaugural FraxBUILD Hackathon was a highly successful effort in uniting builders across the DeFi space to aid in the expansion of the Frax ecosystem. Participants were evaluated in four distinct categories: business model, innovation, technicality, and alignment with Frax. Ultimately, eight winners emerged from a pool of 32 applicants. Let's take a closer look at them!
8 BUIDLs selected
FraximalThis submitted BUIDL meets the Product Expansion track, as the project optimizes the Fraxlend pairs through the use of a $FRAX-Based ERC4626 vault (we are calling FRAXIMAL). The idea was conceptualized, created, audited, and deployed during the Frax hackathon timespan! It is now holding over $2 million TVL as seen here . NOTE: The APY shown in the Sommelier UI (demo link in submission) is inclusive of $SOMM rewards whereas the base yield generated by the vault is visible in Frax Facts. It can be complex, gas intensive, and time consuming to constantly track and react to the Fraxlend market movements. Fraximal aims to provide depositors with a simplified option to receive optimal yield on their FRAX while simultaneously being beneficial to the Fraxlend protocol. Increased FRAX deposits to Fraximal leads to more FRAX lending on Fraxlend. Deep liquidity on Fraxlend benefits the protocol in a number of ways including more liquid borrowing pools and a smoothing of borrow costs in high utilization pairs, both of which increases usage of Fraxlend. The Fraximal vault is different from other vaults in that it is intelligent, meaning it has the ability to react, optimize and evolve to DeFi conditions whereas other vaults are static and limited to simple functions like auto-compounding or lending a single asset to one pool. The vault uses these intelligent capabilities to provide Frax depositors with the optimal yield available for collateralizing FRAX on Fraxlend. This is achieved through advanced modeling of past and real-time data from Fraxlend including interest curves, available liquidity, borrowed liquidity, and loan characteristics. Details of the build can be seen at the GitHub repo. $FRAXIMAL is built upon the decentralized, battle-tested, Sommelier protocol, a top 10 Cosmos chain by TVL that passes msgData to smart contracts on various blockchains to carry out bespoke transactions in vault smart contracts. $FRAXIMAL is built with v2 Fraxlend pairs as the default pair version, although it also works with v1 Fraxlend pairs. The product smart contract architecture is designed to allow for extensibility, where later versions can be approved and used within the aggregating vault. The main Strategists behind this vault, Seven Seas and Define Logic Labs, rebalance the vault composition to either attain yield or reconfigure the asset portfolio to maintain optimal FraxLend lending conditions. The computation to determine the optimal portfolio allocation is done off-chain through a numerical optimization procedure which accounts for TVL impact by simulating Fraxlend interest rate dynamics. The process of Strategists rebalancing this cellar is built upon 0xMacro audited Sommelier Protocol architecture and smart contracts which have over $20 Million TVL. Fraximal is a vault on Sommelier , an innovative asset management protocol whose mission is to make DeFi more accessible, profitable, and efficient for everyone. Sommelier’s advanced technology built on the Cosmos SDK enables intelligent vaults that can optimize portfolios, trade long-short, borrow-lend, and farm. Independent strategists can leverage the power of off-chain computation to inform on-chain vaults, allowing vaults to dynamically adapt to market conditions and provide enhanced opportunities and risk mitigation to users. All vaults are enabled by smart contracts audited 0xMacro and controlled by the blockchain’s robust validator set, protocol governance, ensuring transparency and security. Once a Strategist is approved through governance, they have certain privileges, such as rebalancing and maintaining their proposed vault(s) without voting requirements (within limits).
Revest Protocol veFXS/ veFPISThis BUIDL builds on the vesting/yield system of veFXS from the Frax Ecosystem, using Revest core technology. The product allows users to deposit FXS/FPIS into the veFXS/veFPIS vault and receive an FNFT (Financial FNFT) as a record of their deposit (amount, timelock, and even yield calculated in real-time). Users can deposit additional amounts, extend their locking time, and claim yield natively from their FNFTs. As the veFXS/veFPIS balance is attached to the FNFT's smart wallet address, users are able to sell or lend their veFXS/veFPIS positions to others. For users who have already locked FPIS, we also allow them to migrate their existing lock to our FNFT system. Open Sourced Repo: https://github.com/Revest-Finance/veFXS-FNFT https://github.com/Revest-Finance/veFPIS-FNFT
ZarosZaros is a groundbreaking protocol that seamlessly places itself at the intersection of liquid staking and perpetual futures markets. With a vision focused on real yield and capital efficiency, Zaros empowers Liquid Staking Tokens (LSTs) holders to boost their rewards by lending their liquidity for the creation of perps markets. The protocol is a massive upgrade to the world of onchain perpetual futures by introducing a USDC and sfrxETH collateral Vaults, and a over collateralized stablecoin: zrsUSD. The USDC Vault is connected with Zaros' AMO module, which integrates with the Balancer Vault in order to bootstrap spot liquidity for zrsUSD. The sfrxETH Vault backs a share of protocol controlled zrsUSD. Traders can buy zrsUSD to create leveraged positions on Zaros' perpetual futures markets. With a mission of being the most attractive destination for Ethereum Liquid Staking Tokens, Zaros strives to become the liquidity nexus for onchain derivatives and equipping powerful solutions for users in a dynamic and evolving DeFi environment.
the sticker protocolprint digital stickers, imbue them with value, and trade them across the web here's a video tour of this repo the sticker protocol is a public good and fully permissionless and open hyperstructure for selling, printing, trading, and redeeming digital stickers backed by frxETH. the sticker protocol eliminates the mental transaction costs of moving money on the internet — social micropayments are back, baby, and they're cooler than ever. stickers are an adhesive art form, a unique medium of creativity and expression that helps the p2p social web stick together. a sticker is an individual edition of an ERC1155 NFT living on a dedicated OP Stack rollup in which transfers and trades are fully subsidized and account-abstracted. stickers, upon minting, are fully backed by mainnet frxETH, which is staked for risk-free yield. upon burning a sticker on the rollup, the backing mainnet frxETH is unstaked and returned. as users react to their friends or creators around the web, the sticker NFTs are transferred , sending both meaning and money to another. as non-fungible stores of frxETH, stickers have an insane monetary premium and yield from the sfrxETH is streamed to protocol participants (platforms, artists, and others). additionally, any stickers minted with ETH facilitate the locking of frxETH behind the scenes. artists provide sticker packs for printing. when a pack they've designed is minted, they earn a fee (calculated by IPrinter#primarySaleInfo(...) ). anyone can produce a sticker to be sold on any platform — they're just NFTs and follow the NFT Metadata standard. artists can use the full expressivity of solidity to restrict the supply of their stickers or how they're distributed. anyone can write a UI to facilitate the minting of stickers, and claim a Finders Fee in exchange, giving them a pro-rata % of all yield generated by the ETH they facilitated the locking of. minting UIs should not charge an additional minting fee but can —if they do so they should explicitly make that fact know in the breakdown of costs. users print a sticker pack by providing the backing (frx)ETH, along with the artist's printing fee ex: to mint a pack of 10 stickers backed by 0.0001 ETH each, the user pays 0.0012 (frx)ETH. 0.0002 frxETH goes directly to the artist, and each minted sticker is imbued with 0.0001 frxETH. tokenIds are deterministic by implementation — we pack the following information into a tokenId: uint8 uint8 8 bytes 20 bytes tier id salt printer = 32 bytes using this model, an artist defines a pack of stickers by providing a salt and printer contract. the purpose of the salt is to support multiple packs of stickers with a single printer implementation. because id is a uint8 , the maximum number of unique sticker designs in any one given pack is 256 . stickers can be minted with ETH and frxETH, and optionally with permit() because ETH <> frxETH goes through the swap facility, the protocol opts to forward the frxETH directly to artists who can swap it to their preferred currency independently stickers have tiers of value, satisfying the requirement that users be able to contribute a lot of value in a single sticker interaction Tier Color Value (frxETH) Est. Value (USD) Common White 0.0001 $0.2 Uncommon Green 0.001 $2 Rare Blue 0.01 $20 Epic Purple 0.1 $200 Legendary Orange 1 $2000 ( modeled after Blizzard rarity tiers ) sticker printers are sticker implementation contracts, primarily responsible for defining the additional behavior and display of a sticker, as well as secondary sale royalties. sticker printers abide by the following interfaces IERC1155MetadataURI — ( uri(...) ) IERC2981 — ( royaltyInfo(...) ) IPrinter primarySaleInfo(...) onBeforeMint onAfterBurn the sticker protocol should be a primitive, and as governance-minimized as possible, but i can't think of a way to efficiently and fairly distribute yield from the vault to protocol participants that isn't prey to sybil attacks or gamification. the solution is to inject some human verification into the mix and distribute rewards through a combination of: retroactive subsidization of integrations retroactive subsidization proactive grant distribution, nouns-style for v0.1, the 'dao' is just a multisig that can claim and direct yield from the sfrxETH Vault. in v1.0, one could consider veTokenomics w/ guage voting to redirect vault yield per-epoch the Sticker chain is operated by Stick Together, which is a paymaster for known transaction types on the OP chain, effectively providing free transactions for all sticker-related operations, especially transfers and distributions. user-facing marketplaces for stickers can be incentivized with a claim on some % of the yield they facilitating locking per-epoch. this probably requires some sort of minimum-flow calculation, or otherwise requires stickers to be locked in the protocol per-epoch in order to measure yield distcretely, but there's something here. can support counterfactual printers / sticker packs — just calculate the CREATE2 address of the printer and you'll know your token ids, etc. v0.1 — the protocol is first developed as a single-chain hyperstructure v1.0 — cross-chain messaging & dedicated OP Stack operated by Stick Together w/ account-abstracted subsidized txs with the split-chain v1.0, minting-related logic (gating, total supply, etc) will live on mainnet and we want display/trading (uri, royalty info, etc) logic available on the sidechain — do we use deterministic deploys to deploy the same IPrinter on each chain? allows for easy message passing
FraxSuranceThe inspiration behind creating FraxShield, the Decentralised Insurance Platform, stems from a vision to bring transformative change to the insurance industry. FRAX, as a stablecoin, played a pivotal role in shaping the concept of FraxShield. Its stability and peg to a value of 1 USD made it an ideal candidate to serve as the primary currency within the insurance ecosystem. Leveraging FRAX tokens allowed us to offer users the ability to lock their tokens, earning them valuable discounts on insurance premiums. Additionally, enabling customers to purchase insurance premiums in the form of NFTs using FRAX further enhanced the platform's versatility and ease of use. FraxShield stands out with its inflation-protected insurance coverage. By using the stability of FRAX tokens, where 1FRAX equals 1 USD, and incorporating truflation data, we ensure policyholders' purchasing power is safeguarded against inflation's impact. This combination of FRAX and truflation sets FraxShield apart, providing customers with peace of mind and reliable financial security. Specifically, I was inspired by the following features of FRAX tokens: Stability: FRAX tokens are designed to be stable, even in the face of market volatility. This makes them a good fit for insurance payments, which need to be reliable and predictable. Collateralization: FRAX tokens are collateralized by both fiat currency and cryptocurrency. This provides an additional layer of security, in case the value of the FRAX token fluctuates. Transparency: The FRAX protocol is open source, which means that anyone can audit it. This ensures that the protocol is secure and transparent. So I believe that FRAX tokens have the potential to revolutionize the insurance industry. With FraxShield, we can create a more accessible, affordable, and secure insurance system for everyone. Model of FraxBuild Here are the key points highlighting what FraxShield does FraxShield is a Decentralised Insurance Platform designed for the FraxBuild Hackathon. Users can lock Frax tokens, earning them discounts on insurance premiums as an incentive to participate. The platform allows users to purchase insurance premiums in the form of NFTs using FRAX tokens, a stablecoin with a 1:1 peg to the USD. When customers make insurance claims, the platform reviews and facilitates payment to the policy owner in FRAX tokens. FraxShield's unique feature is its inflation-protected insurance coverage, mitigating the risk of inflation eroding the policyholder's purchasing power. The insurance premium is calculated based on the inflation value of 1 USD, obtained using truflation, an off-chain mechanism tracking real-world inflation rates, the inflation data is regularly updated using chainlink automation. By leveraging the stability of FRAX tokens and incorporating truflation data, FraxShield ensures customers' assets are safeguarded against the impact of inflation, providing them with confidence and financial security. Through this innovative blend of NFTs, FRAX , Truflation data, and ChainLink automation, FraxSurance crafts an insurance platform that harmonizes convenience, security,risk-free environment and inflation protection. By putting the power back into the hands of the users, this visionary project enculcates the spirit of technological advancement and a genuine commitment to empowering individuals and businesses in their pursuit of comprehensive insurance coverage. Stability and Trust : FRAX is a stablecoin, pegged to the value of 1 USD, providing users with stability and confidence in their transactions. The platform's reliance on FRAX ensures a reliable and predictable value for insurance premiums, reducing the uncertainty associated with fluctuating cryptocurrency prices. Inflation Protection : FraxShield's integration with truflation data allows it to calculate insurance premiums based on the inflation value of 1 USD. This unique feature protects policyholders from the eroding effects of inflation, preserving the real value of their coverage over time. Discounts and Incentives : By enabling users to lock Frax tokens, the platform offers discounts on insurance premiums, incentivizing token holders to participate actively in the insurance ecosystem. These discounts provide tangible benefits to users, encouraging greater engagement. Flexible Insurance Purchase : FraxShield allows users to buy insurance premiums in the form of NFTs using FRAX tokens. This introduces flexibility in policy management, giving users greater control over their coverage and fostering a user-centric insurance experience. Decentralization and Transparency : As a decentralized insurance platform, FraxShield leverages blockchain technology, ensuring transparency in policy terms, claims, and payouts. Users can trust the platform's integrity, knowing that it operates without the centralized control of traditional insurers. Reducing Costs and Intermediaries : The absence of intermediaries in FraxShield streamlines insurance processes, reducing administrative overhead and costs. This cost-efficiency benefits both the platform and its users, potentially leading to more competitive insurance premiums. Strong Community Support : FRAX has a vibrant and engaged community that actively contributes to its growth and adoption. This community-driven support fosters innovation and continuous improvement, enhancing the platform's resilience and attractiveness. Interoperability : The compatibility of FRAX with various DeFi platforms and smart contract standards allows for seamless integration with NFTs and other DeFi applications. This interoperability facilitates frictionless insurance transactions and expands the platform's use cases. Accessible to All : With FraxShield, insurance becomes accessible to a broader audience, including those who might have been underserved by traditional insurance providers. The ease of transacting in FRAX and the flexibility in premium purchase open up insurance services to a more diverse user base. Innovation in DeFi : FraxShield's integration of stablecoin technology, NFTs, and truflation data showcases innovative advancements within the DeFi space. The platform's forward-thinking approach positions it as a pioneer in the intersection of insurance and blockchain technologies. Throughout the development of FraxSurance, my solo journey was filled with challenges that shaped me into a stronger and more resilient individual. Integrating multiple complex technologies like Solidity, Hardhat, FRAX Token, Truflation, and ChainLink posed a significant hurdle. However, I embraced these challenges as opportunities for growth, dedicating countless hours to research, collaboration, and problem-solving. Approaching each obstacle with unwavering determination, I overcame these challenges, creating a platform that seamlessly integrates various technologies and ensures reliable and inflation-protected insurance coverage. This solo endeavor has honed my ability to transform obstacles into opportunities and showcases my commitment to excellence. It demonstrates my capacity to overcome challenges, push beyond limitations, and create something extraordinary. As the sole participant and creator of this project, my journey has been a remarkable one, expanding my technical expertise in the world of blockchain and decentralized applications. Through this solo endeavor, I have learned key concepts and skills related to FRAX Stable Coin,ChainLink, Truflation, NFT, DEFI and more. Integrating FRAX Stable Coin enabled the minting of NFTs for insurance purchases and facilitated premium and claims payments and also allowed users to lock their FRAX stable coin to get exciting discounts and interest. This experience familiarized me with blockchain-based token ecosystems, including minting, transaction management, and the seamless flow of FRAX Stable Coins within the insurance ecosystem. Working with Truflation/Chainlink provided me with a profound understanding of leveraging inflation data to calculate inflation-adjusted premiums. I fetched and processed real-time inflation data, allowing the platform to dynamically adjust premiums based on economic conditions, providing users with reliable protection. Scaling and Global Adoption: Our next focus is to scale FraxSurance to a wider global user base. We plan to establish strategic partnerships and execute targeted marketing efforts to reach users worldwide, spreading awareness about our decentralized insurance platform. Continuous Innovation: We aim to continually innovate and enhance FraxSurance. New features like customizable insurance packages, smart contract-based claims processing, and real-time inflation-based premium adjustments will be introduced to elevate the platform's functionality and user experience. Expanded Insurance Offerings: Our vision includes expanding the range of insurance products offered on FraxSurance. We plan to introduce property insurance, health insurance, and specialized coverage tailored to specific industries, catering to diverse insurance needs. Community Engagement and Education: To foster a thriving community, we will conduct webinars, workshops, and meetups to educate users about the benefits of decentralized insurance. This engagement will encourage active participation and feedback from our growing community. Strategic Partnerships: Collaborating with insurance providers, financial institutions, and blockchain projects is a priority for us. These partnerships will enrich the platform by integrating additional data sources, enhancing capabilities, and driving widespread adoption. Enhanced User Experience: We are dedicated to enhancing user satisfaction by continuously refining FraxSurance's user interface. Our goal is to make it more intuitive, seamless, and accessible, catering to users of all backgrounds. Security and Compliance: The security of our users' data and compliance with regulatory standards are paramount. We will implement robust security measures to instill trust and confidence in FraxSurance, ensuring a safe environment for all users. As we progress, these initiatives will empower FraxSurance to reach new heights and establish itself as a leading decentralized insurance platform, providing reliable and innovative solutions to the global community.
Frax Lend Bot (Telegram)Frax Bot is a Telegram bot powered by RASA that provides convenient access to the status of Frax wallets. Users can effortlessly view the current status of their Frax wallet and subscribe to receive daily notifications about subscribed wallet(s). Managing subscriptions is a breeze, allowing users to subscribe and unsubscribe from multiple wallets at any time. Frax Bot ensures a seamless conversational experience by tracking user history, identifying returning users, and keeping a record of subscribed wallets. Rasa for the win - Rasa bots utilize trained models to understand user inputs, predict intents, extract entities, and determine the appropriate actions or responses. The bot can maintain context and carry out a meaningful conversation by tracking the dialogue history and considering previous user inputs. With Rasa in backend, Frax Bot endaevours to engage with users in real-time conversations, responding to their inputs and guiding them through the dialogue flow. Frax bot is also user-friendly as it provides the users with options at every stage, depending on their requests and earlier interactions with the bot. User can select appropriate options to steer the conversation in the intended direction and accomplish their task. The user can also type in their request in stead of choosing any option prompted by the bot. The bot will try to map the request to the right (or most similar) task and proceed the conversation. Thus, Frax bot is able to achieve flexibility without losing its simplicity Some sample - The current demo doesn't work due to cloud provider issues. Which will be fixed within 4 days
Frax CurveAMO dashboardWe seek to create a dashboard that breaks down the major actions of the CurveAMOs according to their spec. We want to see how each central bank money lego helps tighten the stablecoin peg, while generating yield with idle collateral. With feedback and guidance from the team, we hope to expand this effort across all AMOs
