{"schema":"BUIDL","d":{"id":13352,"members":[{"hackerId":151582,"projectMemberId":13945,"avatar":"https://cdn.dorahacks.io/static/files/1905853a4ae0ca1ab36b4784c95a8ab5.png","name":"ninjavaz","handle":"ninjavaz","email":"***@***","status":"accepted","role":2,"title":null,"introduction":null},{"hackerId":138315,"projectMemberId":12765,"avatar":"https://cdn.dorahacks.io/static/files/191a3b84666c41364f6b44646a79293c.jpg","name":"sraibaby","handle":"sraibaby","email":"***@***","status":"pending","role":3,"title":null,"introduction":null},{"hackerId":148002,"projectMemberId":12687,"avatar":"https://cdn.dorahacks.io/static/files/19018f62ec8a49845a0883e48fd98b56.jpeg","name":"Alina Shyn","handle":"U_a227f41099ca91","email":"***@***","status":"accepted","role":2,"title":null,"introduction":null},{"hackerId":147020,"projectMemberId":11856,"avatar":"https://cdn.dorahacks.io/images/hacker-avatar/2.jpg","name":"hacker74d5a4b","handle":"U_cbaeb7dafe78f0","email":"***@***","status":"pending","role":3,"title":null,"introduction":null},{"hackerId":144133,"projectMemberId":11182,"avatar":"https://cdn.dorahacks.io/images/hacker-avatar/3.jpg","name":"hacker3846db6","handle":"U_5034a979a82e57","email":"***@***","status":"accepted","role":2,"title":null,"introduction":null},{"hackerId":144130,"projectMemberId":11181,"avatar":"https://cdn.dorahacks.io/static/files/18ffc74331411551375a4cb4b4d9ec0f.jpeg","name":"vsaraikin","handle":"U_830323b5adf07d","email":"***@***","status":"pending","role":2,"title":null,"introduction":null},{"hackerId":144128,"projectMemberId":11180,"avatar":"https://cdn.dorahacks.io/static/files/18ffc6daaeb250fa842f1094707bb5b8.png","name":"igefined","handle":"U_ca742d72d52cd","email":"***@***","status":"accepted","role":2,"title":null,"introduction":null},{"hackerId":144124,"projectMemberId":11179,"avatar":"https://cdn.dorahacks.io/images/hacker-avatar/3.jpg","name":"fl","handle":"U_9ecbf040fbc9df","email":"***@***","status":"accepted","role":2,"title":null,"introduction":null}],"pictures":["https://cdn.dorahacks.io/static/files/1904c81c53c0dfc18ef9c8d4d52840da.png"],"roundProjects":[],"hackathonProjects":[{"id":14169,"hackathon":{"id":361,"tabSet":[{"id":617,"name":"Submission Guide","slug":"submission-guide","description":"# Getting Started [3-5 MIN]\n\n**1.** **You should submit your BUIDL via [DoraHacks.io](https://dorahacks.io/). Before that, make sure that you already have an account.**\n\nUse the **Sign in/up button** at the upper right corner of the page to access the sign-up options.\n\n

\n\n**Github, crypto wallet** and **email** are supported for creating an account. For BUIDLers, we recommend you to connect the account to your **github** to make more people know what you are building at any time.\n\n*You may be asked to receive a verification code via email. The email may take some time to arrive. No worries! The code will not expire in 10 minutes when you click “send code”.\n\n**2. Before the submission of deadline, please make sure you have added your Github link to the project. You can submit the project first, edit it later before the deadline.**\n\nClick “Submit BUIDL”.\n\n

\n\n\n> **→ If you already have a BUIDL on DoraHacks**\n\nChoose your BUIDL project from **\"Apply with Existing BUIDL\"** and identify the track you want to join.\n\n> **→ If you want to submit a new BUIDL project**\n\nClick **“Create a new BUIDL”** and fill in the form as required. You'll be directed to \"Apply for The Open League Hackathon | TON\" page after the new BUIDL setup.\n\nFill in the form to offer the information about your project. Note that for demo, demo link and social media, please offer **URLs (with http/https://)**.\n\n

\n\nDon't forget to check \"I agree to the User Agreement\".\n\n

\n\nBack to Application window. Choose your BUIDL project from **\"Apply with Existing BUIDL\"** and identify the track you want to join.\n\nWhen submission succeeds, you'll see this notification.\n\n

\n\n# Project Verification\n\nAfter verification by the hackathon organizer through the manager portal, your project will be displayed in the [BUIDLs gallery](https://dorahacks.io/hackathon/361/buidl).\n\n# Want to make some changes to your BUIDL?\n\nClick [Avatar] -> [Profile] to enter the Account Center, and click the \"Edit\" button on the top right of the BUIDL to update the BUIDL information.\n\n

\n\n
\n\n

"},{"id":644,"name":"🧑‍💻Workshops","slug":"🧑‍💻workshops","description":"| # | Workshop Topic | Mentors | Live Links/Recordings |\n|----|------------------------------------------------------------------------------|-------------------------------------------------------------------------|-----------------------|\n| 1 | Mastering Telegram Mini App UI: Best Practices and Konsta UI Toolkit | [Chris](https://t.me/candyflipline) | [YouTube](https://youtube.com/live/b4qomZ3p6JU) |\n| 2 | Harnessing the Power of Telegram Cloud Storage in Your Mini Apps | [Chris](https://t.me/candyflipline) | [YouTube](https://youtube.com/live/biSdojQ5J1g) |\n| 3 | Boosting Your Telegram Mini App's Reach: Effective Sharing Strategies | [Chris](https://t.me/candyflipline) | [YouTube](https://youtube.com/live/y37W0zSi2Ig) |\n| 4 | Unlimited Opportunities Or State of GameFi on TON and Telegram | [Inal Kardan](https://t.me/ikardanoff) | [YouTube](https://youtube.com/live/Zaot8pGWd4I) |\n| 5 | Best Practices for Games – how to maximise your metrics | [Inal Kardan](https://t.me/ikardanoff) | [YouTube](https://www.youtube.com/watch?v=YJmcDpa5j_I&ab_channel=DoraHacks) |\n| 6 | Best Practices on How to Create a Successful Telegram Mini App | [Gleb Vorontsov](https://t.me/glebtma) | [YouTube](https://youtube.com/live/jM3wGHMI7NM) |\n| 7 | Introduction to Programming Smart Contracts in Tact. Part 1 | [Anton Trunov](https://t.me/AntonTrunov) | [YouTube](https://www.youtube.com/live/AJX2Ghk07zk) |\n| 8 | Introduction to Programming Smart Contracts in Tact. Part 2 | [Anton Trunov](https://t.me/AntonTrunov) | [YouTube](https://youtube.com/live/0TfwDGYjCHQ) |\n| 9 | Unlocking Opportunities: How to Secure Grants for Your Project on TON | [Alena Shmalko](https://t.me/alenka_web3) | [YouTube](https://youtube.com/live/5SbkpuWQMZY) |\n| 10 | Advanced Techniques for Enhancing Your Telegram Mini App Experience | [Chris](https://t.me/candyflipline) and [Vlad](https://t.me/mr_arbatov) | [YouTube](https://www.youtube.com/watch?v=HewVC6tUC1w) |\n| 11 | Analytics Strategies for Telegram Mini Apps | [Vlad](https://t.me/mr_arbatov) | [YouTube](https://www.youtube.com/watch?v=UPEYItvVFf8) |"},{"id":701,"name":"📚 Resources & Tools","slug":"📚-resources-&-tools","description":"# 📚 Resources & Tools\n\n### Smart Contract Courses\n- **Smart contract course on YouTube**\n - [English](https://www.youtube.com/watch?v=Vf3Fx7qgL6k&list=PLQ5rEj25H3U2P5qp7nsgVtNGYxEojnnez)\n - [Russian](https://www.youtube.com/playlist?list=PLOIvUFGfwP93tZI_WnaLyJsZlskU4ao92)\n- [Stepik course](https://stepik.org/course/176754/info)\n\n### Developer Chats\n- [Join dev chats](https://t.me/addlist/1r5Vcb8eljk5Yzcy)\n\n### Starting Points\n- [TON Hello World](https://tonhelloworld.com/01-wallet/)\n- [Explore docs](https://docs.ton.org/)\n- [Develop Telegram mini apps (TMA)](https://docs.ton.org/develop/dapps/telegram-apps/)\n- [Develop smart contracts](https://docs.ton.org/develop/smart-contracts/)\n- [IDE Plugins](https://docs.ton.org/develop/smart-contracts/environment/ide-plugins)\n- [Blueprint: framework for smart contracts development](https://docs.ton.org/develop/smart-contracts/sdk/javascript)\n- [Awesome Tact](https://github.com/tact-lang/awesome-tact)\n- [Online IDE Nujan](https://nujan.io/)\n\n## 🌱 For Newcomers: Starting with TON\n\n### Getting Started\n- [Where to Buy TON](https://ton.org/en/buy-toncoin?filters[exchange_groups][slug][$eq]=buy-with-card&pagination[page]=1&pagination[pageSize]=100)\n- [Setting Up Your Wallet](https://www.coingecko.com/learn/how-to-set-up-ton-wallet-crypto)\n- [Crypto Exchanges Supporting TON](https://ton.org/en/buy-toncoin?filters[exchange_groups][slug][$eq]=exchange-with-your-crypto&pagination[page]=1&pagination[pageSize]=100)\n- [Understanding Blockchain & TON](https://docs.ton.org/learn/introduction)\n- [Getting Started with TON Development](https://docs.ton.org/develop/overview)"},{"id":823,"name":"100 Semi-Finalists","slug":"100-semi-finalists","description":"#The Open League Hackathon Semi-Finalists\n\n| Project name | Link |\n| --- | --- |\n| Overleap | https://dorahacks.io/buidl/13092 |\n| MoneyTab | https://dorahacks.io/buidl/13658 |\n| FansNetwork | https://dorahacks.io/buidl/13610 |\n| Dayton | https://dorahacks.io/buidl/13603 |\n| Checkiton | https://dorahacks.io/buidl/13561 |\n| SuperFunSocial | https://dorahacks.io/buidl/13246 |\n| EQYTY | https://dorahacks.io/buidl/11648 |\n| AI HUB | https://dorahacks.io/buidl/11538 |\n| Common Course | https://dorahacks.io/buidl/11476 |\n| InOne | https://dorahacks.io/buidl/11369 |\n| SchoolTon | https://dorahacks.io/buidl/13643 |\n| Openteller ATM | https://dorahacks.io/buidl/13002 |\n| Telegram built-in e-Shop Window | https://dorahacks.io/buidl/12854 |\n| Freema | https://dorahacks.io/buidl/11904 |\n| TON Game Center | https://dorahacks.io/buidl/11861 |\n| TON Map | https://dorahacks.io/buidl/11685 |\n| Swipy | https://dorahacks.io/buidl/11601 |\n| Tonalytics | https://dorahacks.io/buidl/11614 |\n| Go Do Chain | https://dorahacks.io/buidl/11762 |\n| Achivator: Telegram social engagement platform | https://dorahacks.io/buidl/11574 |\n| Umnicoins - Educational currency TON | https://dorahacks.io/buidl/11748 |\n| Palim Palim | https://dorahacks.io/buidl/11773 |\n| Matcher | https://dorahacks.io/buidl/11760 |\n| SoulMates | https://dorahacks.io/buidl/12473 |\n| Tonal | https://dorahacks.io/buidl/11948 |\n| Quyx | https://dorahacks.io/buidl/10541 |\n| selllecture | https://dorahacks.io/buidl/11241 |\n| TONMusic | https://dorahacks.io/buidl/11470 |\n| Money Garden | https://dorahacks.io/buidl/11018 |\n| Shor | https://dorahacks.io/buidl/11439 |\n| Tonalty | https://dorahacks.io/buidl/12988 |\n| Cat Gold Miner | https://dorahacks.io/buidl/10853 |\n| Tontune | https://dorahacks.io/buidl/11413 |\n| Nifty Nerds Network | https://dorahacks.io/buidl/11900 |\n| Gu$$i coin runner | https://dorahacks.io/buidl/12952 |\n| Mighty | https://dorahacks.io/buidl/12479 |\n| FUN Games | https://dorahacks.io/buidl/11928 |\n| TravelFrog | https://dorahacks.io/buidl/12822 |\n| Tonchi | https://dorahacks.io/buidl/13228 |\n| GYM on TON | https://dorahacks.io/buidl/12861 |\n| Chick Coop | https://dorahacks.io/buidl/11877 |\n| Hamston | https://dorahacks.io/buidl/12493 |\n| Bot Gameyard | https://dorahacks.io/buidl/12851 |\n| evenue | https://dorahacks.io/buidl/12805 |\n| Tonightt | https://dorahacks.io/buidl/12951 |\n| Health module for Telegram (tracking steps and fitness) | https://dorahacks.io/buidl/12890 |\n| Tontch - Boosting Twitch Revenue | https://dorahacks.io/buidl/12980 |\n| BuzzTrade - Social Trading for Telegram | https://dorahacks.io/buidl/13016 |\n| PUZZLE SWAP | https://dorahacks.io/buidl/13662 |\n| FIVA | https://dorahacks.io/buidl/13352 |\n| Parroton | https://dorahacks.io/buidl/13164 |\n| TON Hedge | https://dorahacks.io/buidl/13234 |\n| Prophet | https://dorahacks.io/buidl/12847 |\n| Syntonix | https://dorahacks.io/buidl/13535 |\n| fistack | https://dorahacks.io/buidl/13179 |\n| portfel | https://dorahacks.io/buidl/12594 |\n| Curdle Protocol - Stable Swap on TON blockchain | https://dorahacks.io/buidl/13026 |\n| Polyton | https://dorahacks.io/buidl/13248 |\n| Kibble Exchange | https://dorahacks.io/buidl/12577 |\n| TONDropMania | https://dorahacks.io/buidl/13176 |\n| Wonton.fun | https://dorahacks.io/buidl/13205 |\n| drockets | https://dorahacks.io/buidl/11661 |\n| Rainbow Swap 🌈 | https://dorahacks.io/buidl/11739 |\n| Farmix | https://dorahacks.io/buidl/11471 |\n| Lucky Wallet | https://dorahacks.io/buidl/11790 |\n| Chaser | https://dorahacks.io/buidl/11792 |\n| Thunder Finance - phase 2 | https://dorahacks.io/buidl/11623 |\n| Krediton TMA Lending Tool | https://dorahacks.io/buidl/11203 |\n| The Yield | https://dorahacks.io/buidl/11465 |\n| TONBazaar | https://dorahacks.io/buidl/10896 |\n| Autoproof | https://dorahacks.io/buidl/13235 |\n| Crypto Magnate | https://dorahacks.io/buidl/13263#details |\n| Tickyton | https://dorahacks.io/buidl/10817 |\n| TON Education App | https://dorahacks.io/buidl/13218 |\n| Spruton Telegram Market Manager | https://dorahacks.io/buidl/11031 |\n| BIRD TON | https://dorahacks.io/buidl/13497 |\n| Tea Farm | https://dorahacks.io/buidl/13677 |\n| FK🟢TON | https://dorahacks.io/buidl/12502 |\n| Boosteam | https://dorahacks.io/buidl/12916 |\n| Catton | https://dorahacks.io/buidl/12834 |\n| TonVerify | https://dorahacks.io/buidl/13017 |\n| Suzume | https://dorahacks.io/buidl/11562 |\n| Bcoin2048 | https://dorahacks.io/buidl/11624 |\n| FOLK | https://dorahacks.io/buidl/11694 |\n| Meme Battle | https://dorahacks.io/buidl/11419 |\n| Bastion Battle | https://dorahacks.io/buidl/11087 |\n| Bee Harvest | https://dorahacks.io/buidl/12974 |\n| Miracle | https://dorahacks.io/buidl/11743 |\n| GLOBULA | https://dorahacks.io/buidl/11590 |\n| Pixel X Farm | https://dorahacks.io/buidl/13047 |\n| MELONIA - Innovative Clicker | https://dorahacks.io/buidl/13473 |\n| BillyBob | https://dorahacks.io/buidl/13289 |\n| TON DURAK | https://dorahacks.io/buidl/13425 |\n| Gramilla World | https://dorahacks.io/buidl/13261 |\n| Chance🍀 | https://dorahacks.io/buidl/13586 |\n| Ton Heros | https://dorahacks.io/buidl/13588 |\n| Glory Arena | https://dorahacks.io/buidl/11209 |\n| Sphynx | https://dorahacks.io/buidl/13477 |\n| Stargaze (2D Game-fi with NFT Marketplace) | https://dorahacks.io/buidl/13403 |"}],"skills":null,"applied":false,"isCurrentHackerRegistered":false,"buidlsCount":961,"applicationsCount":1026,"organization":{"id":66,"name":"The Open Network","logo":"https://cdn.dorahacks.io/static/files/ton_symbol_rlkmwBo.png"},"description":"# **What is The Open League Hackathon?**\n\nWelcome to The Open League Hackathon, organized by the TON Foundation and [The Open League program](https://ton.org/en/open-league). This hackathon marks a unique point in the development of the TON ecosystem, the beginning of exponential growth.\n\n**The Open League Hackathon**\n The Open League Hackathon gives any innovative project a fast track to massive rewards for your team and users and viral growth in Telegram.\n\nThe total prize fund of **$2,280,000**.\n\nTo take part, teams will need to build for TON mainnet or if bridging over projects, build a new model tailored for the TON ecosystem in a Telegram Mini App.\n\nBelow are the objectives of The Open League Hackathon:\n\n- Find more dapps with creative, simple, and viral token mining mechanisms that can attract new users like [Notcoin](https://t.me/notcoin_bot), [Catizen](https://t.me/catizenbot) and [Pixels](https://t.me/the_pixels_bot)\n- Find dapps with that appeal to a mass audience, TON is a blockchain for everyone. Where complexity dies and simplicity thrives. We’re looking for teams building mini-apps that integrate web3 features seamlessly and appeal to everyone.\n- Recruit proven dapps from other blockchains who want to leverage TON, Telegram, and The Open League to attract millions of users.\n- Recruit proven mini-apps developers and teams from other SuperApps that want to integrate web3 features and leverage TON, Telegram, and The Open League to attract millions of users.\n\nWhat you’ll get:\n\n- **8-weeks** to onboard, learn, and build on TON\n- **In-person sessions** in strategic locations all over the world with our Buidl Partners for an opportunity to code together, share ideas, and network with the local TON builder community\n- Fast track into The Open League competition, with it’s own **$15 million project prize pool** and **50,000 Toncoin** boost of your project’s liqudity pool.\n- A chance to win a share of the $2 million prize pool\n- Fast track into TON Accelerator and pre-seed investment of up to **$150,000**\n- **$240,000** in total Telegram Ads\n- Fast track to additional [grants](https://ton.org/en/grants)\n- Chance to present their project at TON’s yearly Gateway conference in Dubai in November\n\nHackathon participants should consider each one of the stages of onboarding:\nHow is the project enabling users to earn free tokens simply and easily in Telegram?\nWhat are the referral mechanics so new users can share the project with their friends?\nDoes the project have step-by-step onboarding into their products so users can learn to use them by exploring?\nWhat incentives should they provide to make their liquidity pools the most attractive to traders?\n\nIt's crucial for projects participating in The Open League Hackathon to consider the implementation of their own token within the TON ecosystem, as we are keen on stimulating liquidity pools and offering financial rewards to those who provide liquidity. This approach is designed to enhance the project's ecosystem by ensuring better liquidity management and incentivizing user participation through rewards.\n\n**Think you can beat the competition? It’s Time to Build on TON.**\n\n# 13 IRL Bootcamps\n\nThe Open League Summer is our largest IRL experience, hosted under The Open League umbrella, focused on talented developers within the TON Ecosystem. Together with TON Society we prepared a $5,000 prize pool for each bootcamp in addition to the $2,000,000 Hackathon prize pool. On top of that, you can look forward to meeting the TON Foundation and TON Society teams, networking with fellow TON supporters, and building relationships that help you grow.\n\nBootcamps begin May 24th and will meet you at 13 locations over the following two weeks. \n\nMay 24th-26th: Prague, Moscow, and Hong Kong
\nMay 31st-June 2nd: Warsaw, St. Petersburg, Taipei, and Soul
\nJune 7th-9th: Berlin, Kyiv, Tbilisi, Belgrade, Gurugam, and Minsk\n\nRegister now: https://society.ton.org/activities/open-league\n\n# What is The Open League?\n\nThe Open League is a large initiative launched by the TON Foundation with an aim of building and enhancing the ecosystem. It includes:\nEcosystem projects contests\nProject & tokens metrics leaderboards\nHackathons\nGrants\nEvents\n\nThe Open League's pilot season led to 70% growth in DEX TVL (Total Value Locked) and 370% in daily active wallets. In just 2 weeks. Now it’s time to double down. The first full season of The Open League is here. Starting April 1st, over 3 months, TON Foundation will distribute 30 million Toncoin, roughly equivalent to $160 million.\n\nThe Open League program is not just a competition where projects compete to win Toncoin. It’s also an onboarding system. Our incentives mechanics will help us distribute all that Toncoin and show the simple conversion path from humble Telegram user to on-chain CHAD.\n\nRead more about the [Open League Season 1 here](https://blog.ton.org/april-1st-the-open-league-season-1-115-million-in-toncoin-community-rewards).\n\n# Hackers Chats\n\n[Telegram chat](https://t.me/hackatonx)\n\n# Schedule\n\n| Key Dates | Events |\n| --- | --- |\n| Mar 26 (Thu) | The Open League Hackathon opens |\n| Apr 1 (Mon) | Start verification and confirmation of builds |\n| Apr 8 (Mon) | Dev Onboarding Weeks Kickoff |\n| Apr 19 (Fri) | Dev Onboarding Weeks Finish |\n| Jun 15 (Sat) | Last Day of BUIDL Submission |\n| Jun 24 (Mon) | Deadline to submit a 3-minute video presentation of your project and attach the link on their DoraHack pages |\n| Jul 4 (Thu) | MVP review starts; teams must publish working versions and add links on their DoraHack pages |\n| Jul 10 (Wed) | Announcement of 120 semi-finalists |\n| Jul 11 (Thu) | Code review starts |\n| July 17 (Wed) | Announcement of 24 finalists and 4 KuCoin prize winners |\n| July 19 (Fri) | Live Judging Session |\n| July 21 (San) | Winners Announcement + Closing Ceremony |\n\n# **Prize Fund**\n\nThe total prize fund of **$2,280,000** includes:\n\n- **$420,000 for Winners**: Divided among 24 winning teams, focusing on innovation and impact.\n- **Telegram Ads: $240,000** in total to boost project visibility for all 24 winning teams through targeted Telegram Ads.\n- **Liquidity Pool Boost**: The top 3 projects selected to join The Open League will receive **150,000** Toncoin for liquidity boosts, valued at approximately **$810,000**.\n- **Accelerator Funding**: Top projects may secure funding from a **$500,000** pool provided by TON Ventures, ensuring further development and scaling opportunities.\n- **Additional Rewards**: After joining The Open League, the top three projects will receive an additional **$150,000** in rewards, with **$50,000** going to each team.\n- **More Telegram Ads**: An extra **$120,000** in Telegram Ads will be allocated specifically to the top three winners in The Open League for even greater exposure.\n- **KuCoin Prizes:** 4 additional prize spots, each offering $5,000 in Toncoins and $5,000 in Telegram ads.\n\nThese prizes aim to not only reward exceptional projects but also to provide substantial support and exposure to ensure continued growth and success within the TON ecosystem. Each winner not only gains financial backing but also significant promotional and developmental resources, accelerating their journey in the competitive blockchain space.\n# **Tracks**\n\n### **Onboarding systems and games: Telegram Mini Apps (TMA)**\n\nTON has already become home to 2 of the largest onboarding systems in crypto [Notcoin](https://t.me/notcoin_bot) and [Community Bot](https://t.me/notcoin), with [Catizen](https://t.me/catizenbot) and [Pixels](https://t.me/the_pixels_bot) fast growing to play that role. We are looking for more projects that can build systems that onboard new users to crypto easily, simply with built-in referral mechanics and native incentive mechanisms.\n\n- Learn the Notcoin playbook and innovate on the tap-2-earn model\n- Build quest platforms on TON that help users onboard easily to crypto\n- **Social games** with viral mechanics and features like sharing with friends, leaderboards, group challenges, and notifications.\n\n### **Social Web3 Use Cases inside Telegram: Telegram Mini Apps (TMA)**\n\nSocial B2C applications inside Telegram with a clear vision of how to achieve virality and retain the user.\n\nThis category includes but is not limited to:\n\n- **SocialFi**: TMA that helps creators monetize their social media content (e.g., FriendTech-like cases or a tool that helps crypto channel owners earn on sharing successful trades/new token launches)\n- **Community & Brand management**: tools aimed at engaging communities inside Telegram (e.g., Loyalty programs, Ticketing)\n\n### DeFi\n\nIn this track, we aim to enhance the DeFi space within the TON & Telegram ecosystems, focusing on:\n\n- **New DeFi Strategies & Use Cases:** Seeking innovations that improve the DeFi landscape, particularly in lending protocols.\n- **Beginner-Friendly Products:** Projects must be accessible, with simple UX/UI and clear onboarding to welcome newcomers.\n- **Advanced Features for DeFi Veterans:** Also catering to experienced users with complex DeFi strategies and tools.\n- **Seamless Integration with TON:** Utilizing TON for transactions, bridging traditional finance and DeFi for Telegram users.\n\nBy combining accessibility for new users and depth for experienced ones, projects should leverage Telegram Mini Apps to provide secure and permissionless financial services, promoting financial freedom and inclusivity.\n\n### **eCommerce: Telegram Mini Apps (TMA)**\n\nMost people spend time shopping online, making it one of the most mass-audience use cases there is. Telegram and TON need more shopping apps that are Web3-enabled redistributing value to users.\n\n- No code tools for shop builders in Telegram, fully integrated with TON out of the box - like Shopify but in a mini-app\n- 2 sided marketplaces\n\n## **Prize Pool**\n\n### **Onboarding Systems and Games**\n\n- **Objective:** To stimulate the development of viral and gaming applications with financial mechanics on the TON blockchain, including the use of NFTs and social mechanics.\n- **Prizes Amount:** $75,000\n - First Place: $35,000\n - Second Place: $25,000\n - Third Place: $15,000\n\n### **Web3 Social**\n\n- **Objective:** To drive the development of Web3-based social applications inside Telegram using Telegram Mini Apps.\n- **Prizes Amount:** $75,000\n - First Place: $35,000\n - Second Place: $25,000\n - Third Place: $15,000\n\n### **DeFi**\n\n- **Objective:** To encourage the development of solutions aimed at improving TON's enriching the DeFi ecosystem.\n- **Prizes Amount:** $75,000\n - First Place: $35,000\n - Second Place: $25,000\n - Third Place: $15,000\n\n### **Crypto-enabled eCommerce**\n\n- **Objective:** To drive the development of Web3-enabled eCommerce applications on TON and Telegram\n- **Prizes Amount:** $75,000\n - First Place: $35,000\n - Second Place: $25,000\n - Third Place: $15,000\n\n> Outside of the prize pool, the winners will receive fast-track for grants, ecosystem fund investment opportunities, and an opportunity in November to present their project at the Gateway conference in Dubai, connecting directly with the TON Foundation and investors\n> \n\n# **Boost Your Project with Telegram Ads**\n\nIn addition to the extensive prize pool, winners of the hackathon will be granted an exceptional opportunity to boost their project's visibility and engagement through Telegram Ads, with an allocation of up to **$10,000** per winner for this purpose, totaling **$120,000** for Telegram Ads. This unique chance enables the top projects to reach a broader audience within the Telegram ecosystem, significantly enhancing their potential user base and stakeholder interest. By leveraging the power of [Telegram Ads](https://ads.telegram.org/), winning teams will be able to showcase their innovative solutions to millions, tapping into Telegram's vast and dynamic community, thus accelerating their growth and adoption in the post-hackathon phase.\n\n# Winners Selection\n\nWe select 50 semifinalists based on the completeness of their DoraHack page: the quality of the project demo, the thoroughness of the description, and so on. 15 semifinalists will be chosen from projects started at the bootcamps, and the remaining 35 will be selected from the online hackathon. From these, 24 finalists will be chosen to present their projects in a live-streamed session with judges. At the end of this stage, 12 winners will be selected. The final of our hackathon will take place online, with our jury panel watching. Teams will show their projects, followed by a Q&A session with the judges. Results will be announced a few days later, giving the judges time to make good decisions. This stage is important not only for winning but also for possible future grants and investments. Good luck to all participants!\n\nThe judges will select up to 100 semifinalists: 30 from the bootcamp teams and 70 from the online hackathon.\n\n**Timeline:**\n\n- July 10: Announcement of 100 semi-finalists\n- July 17: 24 finalists are announced and 4 KuCoin prize winners\n- July 19-20: 24 finalists pitch their projects\n- July 21: Announcement of 12 winners\n\n# **Entry Requirements**\n\n- Your project must not be included in the [ecosystem map](https://github.com/ton-society/ecosystem-map) as we strive to encourage the creation of new teams and projects\n- The project must be submitted on June 15th at the latest.\n- Projects are built for the TON ecosystem and in [Tact](https://tact-lang.org/) or [FunC](https://docs.ton.org/develop/func/overview) languages\n- Every project must build a Telegram Mini-App as its main surface\n- Teams can close-source GitHub repo during the hackathon, but are required to open-source after the last day of BUIDL submission deadline. Teams can opt for open-source under BSL 1.1, which stipulates that the codes cannot be used for commercial purposes by other parties\n- dApp must support [TON Connect](https://docs.ton.org/develop/dapps/ton-connect/overview) standard\n- Entrants undertake to submit projects that do not violate relevant laws and regulations, infringe any intellectual property or other rights of any third parties, or will otherwise be disqualified\n- Teams must be online and in attendance during the award announcement to win a prize\n\n# **What Next: The Open League Hackathon Leaderboard (1 Month)**\n\nThree winning projects with tokens on the TON mainnet from each track will join [The Open League](https://ton.org/open-league) program and be included on a special Hackathon Leaderboard. The Open League Hackathon Leaderboard is a one-month KPI competition focused on the performance of each project's token.\n\nThe top three projects of The Open League Hackathon Leaderboard will share a **$150,000** prize pool, **$120,000** Telegram Ads, and fast-track access to the Major Token Leaderboard, along with up to **50,000 Toncoin** as rewards for liquidity providers for each project.","onboardingCompleted":false,"registerFormUrl":null,"preRegisterTime":0,"publicContactHackerHandle":null,"hackersCount":3408,"title":"The Open League Hackathon | TON","uname":"the-open-league-hackathon","imageUrl":"https://cdn.dorahacks.io/static/files/18e5ce9132d6a65db993ea44f5faca0a.png","originUrl":"https://dorahacks.io/hackathon/the-open-league-hackathon","startTime":1711368000,"endTime":1718495940,"timezone":"-120","city":null,"visible":true,"approvalStatus":6,"state":0,"voteUrl":null,"voteMechanism":null,"bonusPrice":2000000,"bonusMechanism":null,"followersCount":0,"ecosystem":"The Open Network (TON)","applyGuide":null,"weight":104,"participationForm":"Virtual","field":"Blockchain,web3,telegram,ton,crypto","email":null,"contacts":"Telegram,alefman","externalContacts":null,"telegram":"alefman","discord":null,"whatsapp":null,"wechat":null,"prizeFundingEscrowed":0,"token":"USD","prizeSafeForm":0,"prizeSafeNetwork":null,"prizeSafeOwner":null,"prizeSafeWallet":null,"prizeSafePublishDate":null,"hasOnboarding":false,"isPublicTrackJudging":false,"isEndedTrackJudging":false,"question":"Please give the following information (for judge's reference): \n\n1.⁠ ⁠Are you a member of any TON Hub? 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Our protocol creates a token representing your future yield, allowing you to trade and use it now!","projectDescription":"[Presentation](https://www.canva.com/design/DAGJDAZIc7s/5pvb0EBVapELkkPdybqTgw/view?utm_content=DAGJDAZIc7s&utm_campaign=designshare&utm_medium=link&utm_source=editor)\n\n[Video](https://youtu.be/5exYt2w5a30)\n\n[Mini App](https://t.me/fiva_yield_bot)\n\n# Welcome to FIVA! 🎉\n\nFIVA Protocol is the first yield management protocol built on the TON blockchain. It allows you to fix your yield and access your future gains right now! Simply put, FIVA lets you earn better yields, helping you secure greater certainty and higher returns (i.e., higher APY 🔥). Sounds a bit complicated and unreal? Let us explain how it works as simply as possible!\n\n## Introduction to Optimizing Yield 📈\n\nIn DeFi on TON, you can place your TON into a yield farming pool to receive an APY that changes over time, much like token prices. Popular examples of such pools on TON are Tonstakers and Bemo.\n\n1. **APR often goes down… 😢**\n \n You joined a new pool with a 7% APR, only to see the yields drop to 3% a couple of months later. Sound familiar?\n \n 💡 *What if you could “fix” this yield?*\n![image.png](https://cdn.dorahacks.io/static/files/18ffc6810fea6b9af68235b412881c5e.png)\n*Source:https://tontech.io/stats/*\n\n1. **If only I had more capital when APR goes up… 🤑**\n \n In a bull market, APR increases, and many of us think, *“If only I could boost my capital.”* While leveraging your assets by borrowing is an option, managing collateral and avoiding liquidation can be stressful.\n \n 💡 *What if you could increase your yield exposure without liquidation risk?*\n\n### Yield-bearing tokens 💰\n\n💡 *Yield-bearing tokens refer to any tokens that generate yield.*\n\n**Examples:**\n- tsTON (from Tonstakers)\n- stTON (from Bemo)\n\n### Introducing FIVA 🚀\n\nThere are two main parts to fully understand FIVA:\n\n1. **Yield-Tokenization:** We explain how FIVA splits yield-bearing tokens into their principal and yield components, PT (Principal Token) and YT (Yield Token), respectively. This opens up various ways to optimize yields.\n2. **Yield-Trading:** PT and YT can be traded via FIVA's AMM. By creating a yield trading market in DeFi, FIVA unlocks the full potential of yield, enabling users to execute advanced yield strategies.\n\n### What can you do to earn better yields with FIVA 💸\n\n**Passive Earning**\n- Fixed yield (e.g., earn fixed yield on tsTON)\n- Earn extra yield without additional risks using the same asset you already own (e.g., provide liquidity with your tsTON)\n\n![whale.png](https://cdn.dorahacks.io/static/files/18ffdabd6618a66d1e686cb4af18d909.png)\n\n**Yield Trading**\n- Long yield (e.g., bet on tsTON yield going up by purchasing more yield)\n- Or a mix of any passive and active strategies.\n\n## Yield Tokenization Basics 🏡\n\nYield tokenization involves dividing a yield-bearing asset into two parts: the principal and the yield.\n\nA yield-bearing asset generates returns over time (e.g., tsTON, stTON, etc.). To illustrate this, think of a real estate property. A property generates rental income for its owner.\n\nNow imagine splitting a real estate property into two components:\n- **Principal:** The rights to the ownership of the property.\n- **Yield:** The rights to the rental income from the property for a certain period.\n\nAt any point in time, you can combine both to get the whole property.\n\nWith tsTON as an example: Principal (Right to Principal of tsTON) + Yield (Rights to tsTON yield) = Yield-bearing asset (tsTON).\n\nWhen you tokenize the yield, you can sell or trade the yield portion before it matures. This creates new ways to manage and speculate on yield. Suppose the maturity date is in one year:\n\n- You can buy the Rights to Ownership at a discount. After one year, these rights allow you to redeem the property. The guaranteed value appreciation from the discounted purchase price to full ownership value represents the fixed yield/income.\n- Alternatively, you can purchase only the yield portion (the Rights to Rental Payments) to receive rent for one year. If this costs $5000, you profit if you collect more than $5000 within the year and incur a loss if it yields less. This allows you to speculate on the property's yield. Think rental prices are going up soon and want some exposure? Buy the yield instead of paying for the entire property.\n\n💡 *FIVA is a marketplace where property owners can split and trade their principal (rights to the underlying) and yield (rights to rental payments) separately. Both Principal and Yield positions can be sold anytime (no lockup) even before maturity.*\n\n![image1887848.jpg](https://cdn.dorahacks.io/static/files/1907f6637b3bb4c5623dc6f490b9defa.jpg)\n\n### PT & YT in Fiva 💎\n\nDeFi pools give you a yield-bearing position in return for staking or depositing tokens like Tonstakers give you tsTON (yield-bearing assets) in return for TON that you staked there.\n\nIn FIVA, the yield-bearing position can be split into two components:\n- **YT (Yield Token):** Representing the yield-receivables of the position.\n- **PT (Principal Token):** Representing the principal amount.\n\n![FIVA Protocol, копия (2).jpg](https://cdn.dorahacks.io/static/files/1907e837c07779a8fa5b4ec4647ae0f0.jpg)\n\n### What are PT and YT Exactly? 🤔\n\nFor every yield-bearing position, there is an underlying asset. 💡 *The underlying asset is used as a unit to value a yield-bearing position and calculate its APY.*\n\nThe underlying is usually obvious, like TON in \"Tonstakers Liquidity Pool.\"\n\nHere are the exact definitions of PT and YT:\n- **1 YT** gives you the right to receive the yield of 1 TON staked in Tonstakers until maturity, claimable in real-time.\n- **1 PT** gives you the right to redeem 1 TON staked in Tonstakers upon maturity.\n\n### What Can You Do with PT & YT? 📊\n\n**Before Maturity:**\n1. PT and YT can be minted from the underlying asset.\n2. PT and YT can be redeemed back into its underlying asset.\n3. YT holders can claim any accrued yield in real-time.\n\n**After Maturity:**\n- PT holders can redeem the underlying asset 1:1 without YT.\n\n**Anytime:**\n- You can buy and sell PT and YT on the open market using FIVA AMM. As such, PT and YT will always have a market price.\n\n### Analogy of PT & YT in Traditional Finance 🏦\n\nIn traditional finance, what FIVA does is akin to bond stripping. The principal and interest of bonds are separated, making PTs similar to zero-coupon bonds and YTs like detached coupons.\n\n**PT is the DeFi zero-coupon bond:**\n\nA zero-coupon bond is a bond sold at a significant discount to its face value and does not pay interest during its life. The bondholder receives the full face value at maturity. The difference between the purchase price and the face value is the investor’s profit. For example, if you buy a zero-coupon bond for $800 with a face value of $1,000 that matures in 3 years, you will receive $1,000 at maturity, earning a $200 profit over 3 years. You can sell these bonds on the open market anytime at market price.\n\n**YT is the DeFi detached coupon:**\n\nA detached coupon is part of a bond that has been separated from the bond itself and can be traded independently. A coupon bond pays regular interest to the bondholder until maturity. These interest payments, called coupons, are usually attached to the bond certificate. A detached coupon is one that has been separated from the certificate and can be redeemed for cash by anyone who holds it. For instance, if you have a coupon bond paying $50 annually for 3 years and detach the coupons, you can sell these coupons to someone else who wishes to claim that $150 over the 3 years. A buyer who purchases the detached coupon for less than $150 makes a profit over the 3 years.\n\n### Examples on Ethereum 🌐\n\nInspiration for our protocol is Pendle. It is the 10th biggest Dapp with 3.45 billion TVL according to Defilama as of July 4, 2024. They pioneered and popularized the yield management idea in the DeFi space and developed the methodology for how it can be done. That was a starting point for our protocol. It is an awesome project; please check it out!\n\n---\n\nThis was our short explanation of FIVA. We hope it made things clearer for you. The work on the project is ongoing, and we will provide more precise documentation and explanation videos later.\n\n## Business Model and Adoption to TON 📈\n\nFIVA is the first protocol on TON that allows users to trade yield. It is the next logical building block for the TON DeFi ecosystem. Since DEXs, Liquidity Pools, and Lending Protocols are already established, we are creating the next tool for the TON blockchain. This will attract more whales as it provides high fixed yields and will generate more transactions on the assets that are currently inactive in users' wallets (50,000,000 of staked TON is just frozen!).\n\n![8.jpg](https://cdn.dorahacks.io/static/files/1907df1bb4bc78824a7263c4734ba3ef.jpg)\n\nThere are a lot of liquidity staking protocols, such as Tonstakers, Bemo, and Hipo, will be interested in partnering with us. We will attract more attention and capital to their projects by offering high APY based on their assets. Before launching, we will collaborate with these protocols to attract our first users. Since we share the same user base, we can create a win-win situation through collaboration.\n\n![FIVA Protocol, копия (1).jpg](https://cdn.dorahacks.io/static/files/1907ded05b577ff8eb8b27944ecbfeda.jpg)\n\nWe are currently observing a boom in the number of daily active wallets on TON, indicating that the TON ecosystem is thriving. Now is the ideal time to launch such a venture!\n\n![Zrzut ekranu 2024-06-09 133344.png](https://cdn.dorahacks.io/static/files/18ffcc915769fe545484c844d05856e3.png)\n*Source:https://www.tonstat.com/*\n\nOur business model is viable because it is already a proven concept in traditional finance and through Pendle on Ethereum. This demonstrates that DeFi and finance in general need such instruments, and there is a market and demand for this protocol.\n\nAdditionally, our business model is sustainable as it allows us to earn money through trading and yield fees (as implemented on Pendle). It also enables the introduction of a governance token, which will be useful for the community and allow the project to raise more capital.\n\nMoreover, our application through MiniApp is an unprecedented case where you can manage your yield using just your phone.\n\nAll these factors – a proven idea that works, the need for such a tool in the TON ecosystem, being the first on TON – make us confident that FIVA will be the next big protocol on TON, bringing significant value to the community and ecosystem development.\n\n## Future of Yield Management on TON 🚀\n\nAt FIVA, we are building the future of yield trading on TON. By tokenizing future yield, we are shifting the management of yield from passive to active. Our goal is to expand the TON DeFi ecosystem with new financial instruments and strategies, providing the community with more control, safety, and possibilities to manage their money.\n\nJoin us in developing the DeFi space on the TON blockchain. With FIVA, the future of yield is in your hands! 🌟\n\n---","teamDescription":"Team Information\n\nOur team is a group of 6 enthusiastic and skilled individuals, each bringing a unique set of expertise to the table to make FIVA a groundbreaking success. Here's a brief introduction to our team members:\n\n- Igor: With 3 years of experience as a back-end developer, Igor has been instrumental in developing crypto exchanges. His deep understanding of blockchain technology ensures that our protocol is robust and efficient.\n\n- Fil: Known as the \"Telegram Wizard,\" Fil is our go-to expert for everything related to Telegram bots, integrations, and marketing. His skills ensure seamless user experiences and effective communication strategies on Telegram, making our mini app user-friendly and highly functional.\n\n- Elchin: With 4 years of experience as a front-end developer, Elchin is responsible for the UI/UX of our mini app. His expertise ensures that our application is not only visually appealing but also intuitive and easy to use, providing a smooth experience for all users.\n\n- Andrei: A quant from traditional finance, Andrei brings a wealth of knowledge in financial modeling and business logic. He is the visionary behind FIVA, combining his expertise in quantitative analysis with innovative ideas to drive our project's success.\n\n- Alina: A wonderful woman who did our design, making it beautiful and the UI/UX user-friendly and intuitive. Her attention to detail ensures that our application is both aesthetically pleasing and highly functional.\n\n- Dominik: An experienced developer from Warsaw with several years of experience, Dominik helped us build the React application. His expertise and dedication have been crucial in developing a robust and efficient front-end for our platform.\n\nTogether, our diverse skills and shared passion for DeFi and blockchain technology drive our mission to revolutionize yield management on the TON blockchain. We are committed to delivering a top-tier product that meets the needs of our users and pushes the boundaries of what's possible in decentralized finance.","githubPage":"https://github.com/orgs/Fiva-protocol/repositories","githubVerify":0,"demoLink":"https://t.me/fiva_yield_bot","demoVideo":"https://www.youtube.com/watch?v=5exYt2w5a30","ownerTitle":null,"ownerIntroduction":null,"twitterVerified":false,"weibo":null,"nft":null,"scOwner":"","editTime":1720124333,"upvotes":"0.00","isRecruitingEnabled":false,"recruitingInfo":"","recruitingLink":null,"twitter":"FivaProtocol","facebook":null,"instagram":null,"socialTelegram":null,"socialDiscord":null,"socialLinks":[],"showedFunding":false,"createdAt":"2024-06-09T15:25:37.717909+08:00","updatedAt":"2024-07-05T04:18:53.032956+08:00","milestoneEditor":143983,"path":"/buidl/13352","techField":"","techFieldAry":[],"techTree":[0],"tags":[71,86],"otherTags":[],"origin":"-","intro":"[Presentation](https://www.canva.com/design/DAGJDAZIc7s/5pvb0EBVapELkkPdybqTgw/view?utm_content=DAGJDAZIc7s&utm_campaign=designshare&utm_medium=link&utm_source=editor)\n\n[Video](https://youtu.be/5exYt2w5a30)\n\n[Mini App](https://t.me/fiva_yield_bot)\n\n# Welcome to FIVA! 🎉\n\nFIVA Protocol is the first yield management protocol built on the TON blockchain. It allows you to fix your yield and access your future gains right now! Simply put, FIVA lets you earn better yields, helping you secure greater certainty and higher returns (i.e., higher APY 🔥). Sounds a bit complicated and unreal? Let us explain how it works as simply as possible!\n\n## Introduction to Optimizing Yield 📈\n\nIn DeFi on TON, you can place your TON into a yield farming pool to receive an APY that changes over time, much like token prices. Popular examples of such pools on TON are Tonstakers and Bemo.\n\n1. **APR often goes down… 😢**\n \n You joined a new pool with a 7% APR, only to see the yields drop to 3% a couple of months later. Sound familiar?\n \n 💡 *What if you could “fix” this yield?*\n![image.png](https://cdn.dorahacks.io/static/files/18ffc6810fea6b9af68235b412881c5e.png)\n*Source:https://tontech.io/stats/*\n\n1. **If only I had more capital when APR goes up… 🤑**\n \n In a bull market, APR increases, and many of us think, *“If only I could boost my capital.”* While leveraging your assets by borrowing is an option, managing collateral and avoiding liquidation can be stressful.\n \n 💡 *What if you could increase your yield exposure without liquidation risk?*\n\n### Yield-bearing tokens 💰\n\n💡 *Yield-bearing tokens refer to any tokens that generate yield.*\n\n**Examples:**\n- tsTON (from Tonstakers)\n- stTON (from Bemo)\n\n### Introducing FIVA 🚀\n\nThere are two main parts to fully understand FIVA:\n\n1. **Yield-Tokenization:** We explain how FIVA splits yield-bearing tokens into their principal and yield components, PT (Principal Token) and YT (Yield Token), respectively. This opens up various ways to optimize yields.\n2. **Yield-Trading:** PT and YT can be traded via FIVA's AMM. By creating a yield trading market in DeFi, FIVA unlocks the full potential of yield, enabling users to execute advanced yield strategies.\n\n### What can you do to earn better yields with FIVA 💸\n\n**Passive Earning**\n- Fixed yield (e.g., earn fixed yield on tsTON)\n- Earn extra yield without additional risks using the same asset you already own (e.g., provide liquidity with your tsTON)\n\n![whale.png](https://cdn.dorahacks.io/static/files/18ffdabd6618a66d1e686cb4af18d909.png)\n\n**Yield Trading**\n- Long yield (e.g., bet on tsTON yield going up by purchasing more yield)\n- Or a mix of any passive and active strategies.\n\n## Yield Tokenization Basics 🏡\n\nYield tokenization involves dividing a yield-bearing asset into two parts: the principal and the yield.\n\nA yield-bearing asset generates returns over time (e.g., tsTON, stTON, etc.). To illustrate this, think of a real estate property. A property generates rental income for its owner.\n\nNow imagine splitting a real estate property into two components:\n- **Principal:** The rights to the ownership of the property.\n- **Yield:** The rights to the rental income from the property for a certain period.\n\nAt any point in time, you can combine both to get the whole property.\n\nWith tsTON as an example: Principal (Right to Principal of tsTON) + Yield (Rights to tsTON yield) = Yield-bearing asset (tsTON).\n\nWhen you tokenize the yield, you can sell or trade the yield portion before it matures. This creates new ways to manage and speculate on yield. Suppose the maturity date is in one year:\n\n- You can buy the Rights to Ownership at a discount. After one year, these rights allow you to redeem the property. The guaranteed value appreciation from the discounted purchase price to full ownership value represents the fixed yield/income.\n- Alternatively, you can purchase only the yield portion (the Rights to Rental Payments) to receive rent for one year. If this costs $5000, you profit if you collect more than $5000 within the year and incur a loss if it yields less. This allows you to speculate on the property's yield. Think rental prices are going up soon and want some exposure? Buy the yield instead of paying for the entire property.\n\n💡 *FIVA is a marketplace where property owners can split and trade their principal (rights to the underlying) and yield (rights to rental payments) separately. Both Principal and Yield positions can be sold anytime (no lockup) even before maturity.*\n\n![image1887848.jpg](https://cdn.dorahacks.io/static/files/1907f6637b3bb4c5623dc6f490b9defa.jpg)\n\n### PT & YT in Fiva 💎\n\nDeFi pools give you a yield-bearing position in return for staking or depositing tokens like Tonstakers give you tsTON (yield-bearing assets) in return for TON that you staked there.\n\nIn FIVA, the yield-bearing position can be split into two components:\n- **YT (Yield Token):** Representing the yield-receivables of the position.\n- **PT (Principal Token):** Representing the principal amount.\n\n![FIVA Protocol, копия (2).jpg](https://cdn.dorahacks.io/static/files/1907e837c07779a8fa5b4ec4647ae0f0.jpg)\n\n### What are PT and YT Exactly? 🤔\n\nFor every yield-bearing position, there is an underlying asset. 💡 *The underlying asset is used as a unit to value a yield-bearing position and calculate its APY.*\n\nThe underlying is usually obvious, like TON in \"Tonstakers Liquidity Pool.\"\n\nHere are the exact definitions of PT and YT:\n- **1 YT** gives you the right to receive the yield of 1 TON staked in Tonstakers until maturity, claimable in real-time.\n- **1 PT** gives you the right to redeem 1 TON staked in Tonstakers upon maturity.\n\n### What Can You Do with PT & YT? 📊\n\n**Before Maturity:**\n1. PT and YT can be minted from the underlying asset.\n2. PT and YT can be redeemed back into its underlying asset.\n3. YT holders can claim any accrued yield in real-time.\n\n**After Maturity:**\n- PT holders can redeem the underlying asset 1:1 without YT.\n\n**Anytime:**\n- You can buy and sell PT and YT on the open market using FIVA AMM. As such, PT and YT will always have a market price.\n\n### Analogy of PT & YT in Traditional Finance 🏦\n\nIn traditional finance, what FIVA does is akin to bond stripping. The principal and interest of bonds are separated, making PTs similar to zero-coupon bonds and YTs like detached coupons.\n\n**PT is the DeFi zero-coupon bond:**\n\nA zero-coupon bond is a bond sold at a significant discount to its face value and does not pay interest during its life. The bondholder receives the full face value at maturity. The difference between the purchase price and the face value is the investor’s profit. For example, if you buy a zero-coupon bond for $800 with a face value of $1,000 that matures in 3 years, you will receive $1,000 at maturity, earning a $200 profit over 3 years. You can sell these bonds on the open market anytime at market price.\n\n**YT is the DeFi detached coupon:**\n\nA detached coupon is part of a bond that has been separated from the bond itself and can be traded independently. A coupon bond pays regular interest to the bondholder until maturity. These interest payments, called coupons, are usually attached to the bond certificate. A detached coupon is one that has been separated from the certificate and can be redeemed for cash by anyone who holds it. For instance, if you have a coupon bond paying $50 annually for 3 years and detach the coupons, you can sell these coupons to someone else who wishes to claim that $150 over the 3 years. A buyer who purchases the detached coupon for less than $150 makes a profit over the 3 years.\n\n### Examples on Ethereum 🌐\n\nInspiration for our protocol is Pendle. It is the 10th biggest Dapp with 3.45 billion TVL according to Defilama as of July 4, 2024. They pioneered and popularized the yield management idea in the DeFi space and developed the methodology for how it can be done. That was a starting point for our protocol. It is an awesome project; please check it out!\n\n---\n\nThis was our short explanation of FIVA. We hope it made things clearer for you. The work on the project is ongoing, and we will provide more precise documentation and explanation videos later.\n\n## Business Model and Adoption to TON 📈\n\nFIVA is the first protocol on TON that allows users to trade yield. It is the next logical building block for the TON DeFi ecosystem. Since DEXs, Liquidity Pools, and Lending Protocols are already established, we are creating the next tool for the TON blockchain. This will attract more whales as it provides high fixed yields and will generate more transactions on the assets that are currently inactive in users' wallets (50,000,000 of staked TON is just frozen!).\n\n![8.jpg](https://cdn.dorahacks.io/static/files/1907df1bb4bc78824a7263c4734ba3ef.jpg)\n\nThere are a lot of liquidity staking protocols, such as Tonstakers, Bemo, and Hipo, will be interested in partnering with us. We will attract more attention and capital to their projects by offering high APY based on their assets. Before launching, we will collaborate with these protocols to attract our first users. Since we share the same user base, we can create a win-win situation through collaboration.\n\n![FIVA Protocol, копия (1).jpg](https://cdn.dorahacks.io/static/files/1907ded05b577ff8eb8b27944ecbfeda.jpg)\n\nWe are currently observing a boom in the number of daily active wallets on TON, indicating that the TON ecosystem is thriving. Now is the ideal time to launch such a venture!\n\n![Zrzut ekranu 2024-06-09 133344.png](https://cdn.dorahacks.io/static/files/18ffcc915769fe545484c844d05856e3.png)\n*Source:https://www.tonstat.com/*\n\nOur business model is viable because it is already a proven concept in traditional finance and through Pendle on Ethereum. This demonstrates that DeFi and finance in general need such instruments, and there is a market and demand for this protocol.\n\nAdditionally, our business model is sustainable as it allows us to earn money through trading and yield fees (as implemented on Pendle). It also enables the introduction of a governance token, which will be useful for the community and allow the project to raise more capital.\n\nMoreover, our application through MiniApp is an unprecedented case where you can manage your yield using just your phone.\n\nAll these factors – a proven idea that works, the need for such a tool in the TON ecosystem, being the first on TON – make us confident that FIVA will be the next big protocol on TON, bringing significant value to the community and ecosystem development.\n\n## Future of Yield Management on TON 🚀\n\nAt FIVA, we are building the future of yield trading on TON. By tokenizing future yield, we are shifting the management of yield from passive to active. Our goal is to expand the TON DeFi ecosystem with new financial instruments and strategies, providing the community with more control, safety, and possibilities to manage their money.\n\nJoin us in developing the DeFi space on the TON blockchain. With FIVA, the future of yield is in your hands! 🌟\n\n---","images":["https://cdn.dorahacks.io/static/files/1904c81c53c0dfc18ef9c8d4d52840da.png"],"team":"Team Information\n\nOur team is a group of 6 enthusiastic and skilled individuals, each bringing a unique set of expertise to the table to make FIVA a groundbreaking success. Here's a brief introduction to our team members:\n\n- Igor: With 3 years of experience as a back-end developer, Igor has been instrumental in developing crypto exchanges. His deep understanding of blockchain technology ensures that our protocol is robust and efficient.\n\n- Fil: Known as the \"Telegram Wizard,\" Fil is our go-to expert for everything related to Telegram bots, integrations, and marketing. His skills ensure seamless user experiences and effective communication strategies on Telegram, making our mini app user-friendly and highly functional.\n\n- Elchin: With 4 years of experience as a front-end developer, Elchin is responsible for the UI/UX of our mini app. His expertise ensures that our application is not only visually appealing but also intuitive and easy to use, providing a smooth experience for all users.\n\n- Andrei: A quant from traditional finance, Andrei brings a wealth of knowledge in financial modeling and business logic. He is the visionary behind FIVA, combining his expertise in quantitative analysis with innovative ideas to drive our project's success.\n\n- Alina: A wonderful woman who did our design, making it beautiful and the UI/UX user-friendly and intuitive. Her attention to detail ensures that our application is both aesthetically pleasing and highly functional.\n\n- Dominik: An experienced developer from Warsaw with several years of experience, Dominik helped us build the React application. His expertise and dedication have been crucial in developing a robust and efficient front-end for our platform.\n\nTogether, our diverse skills and shared passion for DeFi and blockchain technology drive our mission to revolutionize yield management on the TON blockchain. We are committed to delivering a top-tier product that meets the needs of our users and pushes the boundaries of what's possible in decentralized finance.","github":"https://github.com/orgs/Fiva-protocol/repositories","demo":"https://t.me/fiva_yield_bot","video":"https://www.youtube.com/watch?v=5exYt2w5a30","socialTwitter":"FivaProtocol","socialFacebook":null,"socialInstagram":null,"nftId":null,"haxonBuidls":[{"id":14169,"projectId":13352,"name":"FIVA","track":"DeFi","bounties":[],"haxonId":361,"haxonName":"The Open League Hackathon | TON","status":2,"haxonCreateAt":"2024/03/25 12:00:00 UTC"}],"kudoData":null,"bountyObjs":[],"badges":["{\"schema\":\"BADGE\",\"d\":{\"index\":\"b10621\",\"badgeType\":\"buidl\",\"path\":\"/buidl/13352/achievement/b10621\",\"ownerId\":13352,\"iconName\":\"b0\",\"updatedDate\":\"2024/06/11\",\"title\":\"The Open League Hackathon | TON\",\"detail\":\"Participation\",\"tag\":\"Hackathon\",\"imageUrl\":\"https://cdn.dorahacks.io/static/badge/b0_The~c32Open~c32League~c32Hackathon~c32|~c32TON.webp\",\"shareImageUrl\":\"https://cdn.dorahacks.io/static/badge/b0_The~c32Open~c32League~c32Hackathon~c32|~c32TON.jpg\",\"id\":10621,\"metaInfo\":{\"type\":\"HACKATHON_PARTICIPATION\",\"hackathonId\":361,\"title\":\"The Open League Hackathon | TON\"},\"createdAt\":1718120909,\"updatedAt\":1718120909,\"type\":0,\"subjectId\":361,\"metadata\":{},\"buidl\":13352}}"]}}