{"schema":"BUIDL","d":{"id":7045,"members":[],"pictures":["https://cdn.dorahacks.io/static/files/18a0243f6ae78156d362bf54baa825ec.png"],"roundProjects":[],"hackathonProjects":[{"id":6961,"hackathon":{"id":134,"tabSet":[{"id":194,"name":"PRIZE INFO","slug":"prize","description":"# PRIZE INFO\n\n

Prize Name	Qty	Prize Items
Finance Track	1	● $10,000 in XRP ● 30 minute virtual meeting with Ripple devRel to discuss the winning project
2nd Place	1	● $5,000 in XRP
3rd Place	1	● $3,000 in XRP
Honorable Mention	2	● $1,000 in XRP

\n\n
\n\n

Prize Name	Qty	Prize Items
Tokenization Track	1	● $10,000 in XRP ● 30 minute virtual meeting with Ripple devRel to discuss the winning project
2nd Place	1	● $5,000 in XRP
3rd Place	1	● $3,000 in XRP
Honorable Mention	2	● $1,000 in XRP

\n\n
\n\n

Prize Name	Qty	Prize Items
Hooks Track	1	● $10,000 in XRP ● 30 minute virtual meeting with Ripple devRel to discuss the winning project
2nd Place	1	● $5,000 in XRP
3rd Place	1	● $3,000 in XRP
Honorable Mention	2	● $1,000 in XRP

"},{"id":198,"name":"Workshop Schedule","slug":"workshop","description":"# Workshop Schedule\n\n

Title	Date	Time	Content & Speaker	Links
Workshop 1 Introduction to XRPL	12.06.2023	9:00 AM PDT	Marco Neri - Welcome Session	Zoom Session
Workshop 2 NFTs in E-Commerce	23.06.2023	9:00 AM PDT	Jason Tigas - Tokengating, POAP and more!	Zoom Session
Workshop 3	03.07.2023	TBA	TBA	TBA

"},{"id":199,"name":"Resources","slug":"resources","description":"# Resources\n\n- Developer Docs - [XRPL Docs](https://xrpl.org/docs.html?utm_source=hackathon&utm_medium=dorahacks-summer&utm_campaign=dev-advocacy&utm_term=dorahacks-site&utm_content=dorahacks-site)\n\n- Github - [XRPL Foundation](https://github.com/XRPLF)\n\n- Discord - [XRP Ledger Discord](https://discord.gg/2AuaQRswtZ)\n\n- Twitter - [RippleX Twitter](https://twitter.com/RippleXDev)"},{"id":284,"name":"Submission Guide","slug":"submission","description":"# Getting Started [3-5 MIN]\n**1. You should submit your BUIDL via [DoraHacks.io](https://dorahacks.io/). Before that, make sure that you already have an account.**\n
\n\nUse the **Sign in/up button** at the upper right corner of the page to access the sign-up options.\n\n![steo1.png](https://cdn.dorahacks.io/static/files/187b688d041d9e93db6f3bb449aa74b2.png)\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\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\n**2. Before the submission deadline(August 21), please make sure you have added your Github link to the project. You can submit the project first, edit it later before the DDL.**\n
\n\nClick “Submit BUIDL”.\n\n![ste2.jpg](https://cdn.dorahacks.io/static/files/18997837c16bb5e3505d7c84a6ea4ee9.png)\n\n> → **If you already have created a BUIDL on DoraHacks**\n
\n\nChoose your BUIDL project and submit.\n\n> → **If you want to submit a new BUIDL project**\n
\n\nClick **“Create a new BUIDL”** and fill in the form as required. You'll be directed to \"XRPL Summer Hackathon | Ripple\" page after the new BUIDL setup.\n
\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![ste4.jpg](https://cdn.dorahacks.io/static/files/187b69102d409a685aa6be74b89b78ca.jpg)\n\nDon't forget to check \"I agree to the User Agreement\".\n\n\n![ste5.png](https://cdn.dorahacks.io/static/files/18a0c4152b2b57d55b94bb9445685ce9.png)\n\nBack to Application window. Choose your BUIDL project from **\"Apply with Existing BUIDL\"**.\n\nWhen submission succeeds, you'll see this notification.\n\n\n![ste6.png](https://cdn.dorahacks.io/static/files/187b691d0297615b203ec5e4847a17ef.png)\n\n# Want to make some changes to your BUIDL?\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![o.png](https://cdn.dorahacks.io/static/files/187b6f2bb7da1b572cf45aa49d0ba5ae.png)\n\n![steo.png](https://cdn.dorahacks.io/static/files/187b6efeb7ebb25227f43684f7ba3dba.png)"},{"id":289,"name":"Official Rules","slug":"rule","description":"# 1. Dates and Timing:\n\n- Submission Period: July 1, 2023 (12:00 pm Eastern Time) – August 21, 2023 (5:00 pm Eastern Time).\n\n- Judging Period: August 21, 2023 (12:00 pm Eastern Time) – August 30, 2023 (5:00 pm Eastern Time).\n\n- Winners Announced: On or around September 1, 2023 (12:00 pm Eastern Time).\n\n# 2. Sponsor and Administrator:\n\n- Sponsor: Ripple Labs, Inc., 315 Montgomery St. 2nd Floor, San Francisco, CA 94123, United States.\n\n- Administrator: DoraHacks, 201 Folsom Street, San Francisco, CA 94105, United States.\n\n# 3. Eligibility:\n\n- Open to individuals of the age of majority where they reside, Teams of eligible individuals, and Organizations that exist and are organized or incorporated at the time of entry. \n\n- Not open to:\n\n - Individuals who are residents of, or Organizations domiciled in, a country, state, province, or territory where the laws of the United States or local law prohibits participating or receiving a prize in the Hackathon (including, but not limited to Quebec, Russia, Cuba, Iran, North Korea, Syria, or the Crimea, Donetsk People’s Republic, or Luhansk People’s Republic regions of Ukraine and any other country designated by the United States Treasury's Office of Foreign Assets Control).\n\n - Organizations involved with the design, production, paid promotion, execution, or distribution of the Hackathon, including the Sponsor and Administrator (“Promotion Entities”).\n\n - Employees, representatives of such Promotion Entities, and all members of their immediate family or household.\n\n - Any other individual or organization whose participation in the Hackathon would create, in the sole discretion of the Sponsor and/or Administrator, a real or apparent conflict of interest.\n\n# 4. How To Enter:\n\n- Register on the Hackathon Website (https://dorahacks.io/hackathon/xrpl-hackathon).\n\n- Use required developer tools to build a functional app using or enhancing XRP Ledger(Project).\n\n- Create a video demonstrating the Project's features and functionality. - Enter the Submission on the Hackathon Website with required details.\n\n# 5. Submission Modifications:\n\n- Draft Submissions can be saved before the end of the Submission Period.\n\n- Limited modifications may be allowed after the Submission Period for certain reasons.\n\n# 6. Judges & Criteria:\n\nOnce a project the submission period is closed, a group of judges selected by the Sponsor will review it to see if it meets the eligibility requirements. These judges could be employees of the Sponsor or third parties, and they might change during the review process. The review may have multiple rounds, and each round will have different criteria.\n\nIn the first round, the judges will check if the projects meet a certain standard of viability. This means the project should align with the theme of the Hackathon and use the required APIs/SDKs.\n\nFor the second round, all projects that pass the first round will be evaluated based on the following criteria, which are all equally important:\n\n**1.** **Idea Quality:** How creative and original is the idea?\n\n**2.** **Implementation:** How well did the developer bring the idea to life?\n\n**3.** **Potential Impact:** To what extent does the solution use the XRP Ledger?\n\nThe judges will give scores based on these criteria to determine the potential winners of the prizes. The projects with the highest scores in each category will become potential winners of those prizes.\n\n# 7. Intellectual Property Rights:\n\n- Submissions remain the intellectual property of the Entrants.\n\n- Sponsor and Manager have the right to use Submissions for promotional purposes.\n\n# 8. Prizes:\n\n- First, second, and third-place prizes in XRP tokens, virtual meetings with Ripple engineers, and social promotion.\n\n- Honorable mentions will receive Prizes and virtual meetings with Ripple engineers.\n\n# 9. Entry Conditions and Release:\n\n- Entrants release the Released Parties from liability related to the Hackathon.\n\n# 10. Publicity:\n\n- Entrants agree to the promotion and display of their Submissions and personal information.\n\n# 11. General Conditions:\n\n- Sponsor and Administrator may modify or cancel the Hackathon under certain circumstances.\n\n- Disqualification may occur for inappropriate behavior or violations of the Official Rules. - The Official Rules prevail in case of any discrepancies.\n\n# 12. Limitations of Liability:\n\n- Entrants release the Released Parties from liability, except for gross negligence or intentional acts.\n\n# 13. Disputes:\n\n- Disputes shall be resolved through arbitration and governed by the laws of California, USA.\n\n# 14. Entrant’s Personal Information:\n\n- Entrant's information is not collected to create a submission but will be collected by the Sponsor to complete the payment process. \n\nFor any questions, email mneri@ripple.com."},{"id":351,"name":"Results","slug":"results","description":"# XRPL Summer Hackathon | Ripple Recap and Result Announcement\n\nThe XRPL Hackathon shortlist has been released! These projects, which excelled in the Finance, Tokenization, and Hooks tracks, have been recognized for their exceptional performance. Congratulations to all the winners! They will share a $60,000 prize pool, and the champion of each track will also have the opportunity to showcase their project on the official Ripple devRel forum. Let's discover together!\n\n# Tokenization Track\n\n### 🥇First Prize: [BobbyBot trade](https://dorahacks.io/buidl/5237)\n\nBobbybot.trade will allow users to trade their Steam-based virtual items (popular games such as CS:GO, TF2, Rust) for TRON and XRPL currencies.\n\n
\n\n### 🥈Second Prize: [TextRP](https://dorahacks.io/buidl/6615)\n\nSecure Unified Messaging System for the XRPL that empowers users with privacy, choice of features, and access to their preferred messaging channels.\n\n
\n\n### 🥉Third Prize: [Rakkan](https://dorahacks.io/buidl/7040)\n\nPhysically Autographed collectibles on XRPL\n\n
\n\n### 🏅Fourth Prize: [Restate](https://dorahacks.io/buidl/6795)\n\nRestate 1.0\n\n
\n\n### 🏅Fifth Prize: [Optimart](https://dorahacks.io/buidl/7089)\n\nNFT marketplace built on the XRP Ledger\n\n# Finance Track\n\n### 🥇First Prize: [EpicTask](https://dorahacks.io/buidl/6417)\n\nEmpowering Children with Financial Responsibility\n\n
\n\n### 🥈Second Prize: [XummHub](https://dorahacks.io/buidl/7075)\n\nXummHub: Would be an open xApp freelancers-plataform where businesses and freelancers that currently use XRP (the early adopters) can start connecting each other. | Your work, your rules, your earnings: No commissions on your success path!\n\n
\n\n### 🥉Third Prize: [EchoBox](https://dorahacks.io/buidl/7127)\n\nEnabling the voice messenger of transaction receipt for merchant and beyond\n\n
\n\n### 🏅Fourth Prize: [XRP Money Market](https://dorahacks.io/buidl/7115)\n\nThis application serves as an MVP for an AAVE-style money market specifically designed for stablecoins or even CBDCs.\n\n
\n\n### 🏅Fifth Prize: [Bill protocol](https://dorahacks.io/buidl/6793)\n\nManages invoices and payments on XRPL\n\n# Hooks Track\n\n### 🥇First Prize: [CLP-Helix](https://dorahacks.io/buidl/6820)\n\nConcentrated Liquidity Pool on XRP Ledger\n\n
\n\n### 🥈Second Prize: [Defi Futures](https://dorahacks.io/buidl/7045)\n\nThe first smart contracts based futures trading platform on the XRPL using Hooks.\n\n
\n\n### 🥉Third Prize: [XRottery](https://dorahacks.io/buidl/7128)\n\nXRottery🎰 where your Jackpot Spin Awaits! The first GameFi in XRPL using Hooks\n\n
\n\n### 🏅Fourth Prize: [HooksHub](https://dorahacks.io/buidl/7112)\n\nHooksHub 🪝 One-Click Hooks for the Everyday User\n\n
\n\n### 🏅Fifth Prize: [VoteX](https://dorahacks.io/buidl/7124)\n\nEmpowering Decentralized Communities: Seamlessly Create, Govern, and Innovate with XRPL-based DAOs powered by XRPL-Hooks"}],"skills":null,"applied":false,"isCurrentHackerRegistered":false,"buidlsCount":89,"applicationsCount":101,"organization":{"id":360,"name":"ripple","logo":"https://cdn.dorahacks.io/static/files/18812912fd749e0d5baffae4bbaa1741.jpeg"},"description":"# Introduction / About\n\nRipple is teaming up with DoraHacks to launch the Summer XRPL **online hackathon**, taking place until August 21st. The XRPL Hackathon is all about supporting innovative projects and getting developers from diverse backgrounds to explore creative ideas and transition from centralized systems to the exciting world of blockchain.\n\nWith a prize pool of **$60,000**, individual projects have the chance to secure up to **$10,000** in funding. For more details about funding check out [the prizes](https://dorahacks.io/hackathon/xrpl-hackathon/prize). After the hackathon concludes, we strongly encourage participants to apply for our [funding programs](https://xrpl.org/developer-funding.html) to continue their development journey and take their projects to the next level!\n\n# How to Join\n\n- Step 1: Read through the [Entry Requirements](https://dorahacks.io/hackathon/xrpl-hackathon/detail).\n\n- Step 2: Join [XRPL Discord](https://discord.gg/2AuaQRswtZ) and utilize the [Developer Resources](https://dorahacks.io/hackathon/xrpl-hackathon/) including the [XRPL Docs](https://xrpl.org/docs.html?utm_source=hackathon&utm_medium=dorahacks-summer&utm_campaign=dev-advocacy&utm_term=dorahacks-site&utm_content=dorahacks-site).\n\n- Step 3: Ensure that all members of your team are registered on [DoraHacks](https://dorahacks.io/login).\n\n- Step 4: Attend the [workshops](https://dorahacks.io/hackathon/xrpl-hackathon/workshop), and use the insights gained to build your projects.\n\n- Step 5: Submit your entry. Double check that your submission fulfills all the [Entry Requirements](https://dorahacks.io/hackathon/xrpl-hackathon/detail) and aligns with the [Judging Criteria](https://dorahacks.io/hackathon/xrpl-hackathon/detail) to avoid disqualification.\n\n# Why you should build on XRPL?\n\nXRPL is a reliable, low-cost, and carbon-neutral blockchain built for business.It boasts an impressive track record and a vibrant community full of various companies and organizations dedicated to contributing and proposing new features that enhance the Ledger. For example, ‘Hooks’ is one of those notable community contributions developed by XRPL Labs (soon: Xaman) that expands the programmability capabilities of the ledger by introducing ways to add logic to payment flows. Participants in this hackathon are encouraged to test this technology on the test network and compete in the corresponding track.\n\nParticipants have the incredible opportunity to win prizes worth **$60,000.** Hackathon winners and exceptional projects will also be considered for [additional programs](https://xrpl.org/developer-funding.html) that aim to provide further support and consolidation. Additionally, participants will have the chance to gain **exposure to venture capitalists** and potential additional funding opportunities.\n\n# Schedule\n\n

Date	Event
Jun 5, 2023- August 21st, 2023(extended)	Submission period
August 22nd, 2023- September 3rd, 2023	Review and Judging
September 4th, 2023	Announce Winners

\n\n# Entry Requirements\n\n- All participants should have legal rights to partake as per the laws of their respective countries. **A national ID may be required for KYC when claiming prizes.**\n- Participants should be legally capable of receiving prize money and crypto transactions (if they win), and must take responsibility for any tax obligations on their winnings.\n- Contestants must pledge to submit projects that are in compliance with all applicable laws and regulations, do not infringe on any third-party intellectual property or other rights, or else they risk disqualification.\n\n# Submission Requirements\n\n- Submit your distinct entries to Dorahacks by 23:59 UTC-4 on August 21st, 2023(extended). Multiple unique entries per participant are welcome.\n- All submission materials should be in English. If not, an English translation of the video demonstration, text description, testing instructions, and all other submitted materials should be provided.\n\nSubmissions must contain:\n\n- A public GitHub link to your project's documentation or codebase.\n- A video link showcasing your project's functionality and benefits.\n- A comprehensive README file describing your project and its use of the XRP Ledger.\n- Optionally, you may include a code walkthrough to further explain your project's design and functionality.\n\n# Judges\n\n- Anurag Patel from XRPScan\n\n- Ryan Molley from Crossmark\n\n- Denis Angell from Xaman\n\n# Judging Criteria\n\n**Quality of the Idea:**\n\n- We're looking for innovative and unique ideas. Your solution should be original, standing out from existing approaches.\n\n**Implementation of the Idea:**\n\n- The technical execution of your idea is crucial. How well has your concept been realized into a working project? The performance, reliability, and robustness of your code will be assessed.\n\n**Potential Impact:**\n\n- How effectively does your solution incorporate the XRP Ledger? We're interested in projects that optimize the XRP Ledger's features to maximize their potential impact in the target area.\n\n# Chat and Get Support\n\nTo get support and interact with fellow participants, be sure to check out the Idea Board tab. It's a valuable resource for tips, idea sharing, team formation, advice, and feedback. Let your imagination run wild and inspire others as you embark on this thrilling creative adventure!\n\nIf you have any questions, feel free to leave them on the #hackathon channel in the XRPL Devs Discord Server ([xrpldevs.com](https://discord.gg/2AuaQRswtZ)) or post it on the Idea Board page. You can also reach out to the DoraHacks user support account on Telegram (@[dorahacksofficial](https://t.me/dorahacksofficial)).","onboardingCompleted":false,"registerFormUrl":null,"preRegisterTime":0,"publicContactHackerHandle":null,"hackersCount":209,"winnerAnnounced":false,"teamCount":0,"title":"XRPL Summer Hackathon | Ripple","uname":"xrpl-hackathon","imageUrl":"https://cdn.dorahacks.io/static/files/1899e2b8e9bb2542f60a7f6465bbbdf8.png","originUrl":null,"startTime":1685966400,"endTime":1692676800,"timezone":"420","city":null,"visible":true,"approvalStatus":6,"state":0,"voteUrl":null,"voteMechanism":null,"bonusPrice":60000,"bonusMechanism":null,"followersCount":0,"ecosystem":"XRPL","applyGuide":null,"weight":0,"participationForm":"Virtual","field":"Blockchain","email":"mneri@ripple.com","contacts":"Telegram,marcommons","externalContacts":null,"telegram":null,"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":null,"countryId":null,"cityId":null,"venueName":null,"venueAddress":null,"category":0,"isEnableBounty":true,"isBountyRequired":false,"isEndedBountyJudging":false,"bountiesLimitForBuidl":10,"isPublicBountyJudging":false,"isMultiTracksAllowed":false,"tracksLimitForBuidl":0,"showIdeaTab":true,"showQuestionTab":true,"showTeamTab":false,"bonusDescription":[],"askHackers":[],"isEnabledQuestions":false,"isEnabledAskHackers":false,"isBuidlsPrivate":false,"trackJudgingMaxScore":100,"bountyJudgingMaxScore":100,"isExtended":false,"oldEndTime":null,"status":2},"status":4,"bounty":null,"track":null,"table":"0","trackObj":{"id":241,"name":"Hooks Track","judgingCriteria":"","weight":0},"bountyObjs":[]}],"chain":[],"chainList":[],"appliedGrant":false,"acceptRewards":false,"owner":94297,"ownerInfo":{"nickname":"chris","username":"chris","avatar":"https://cdn.dorahacks.io/images/hacker-avatar/2.jpg"},"visible":true,"deleted":false,"continuousSponsoring":false,"pageView":0,"sponsoredCount":0,"starCount":0,"sponsoredAmount":"0.00","sponsoredPersons":0,"followers":0,"voteCount":0,"projectMembers":[],"bnbRound":null,"doraGrantDaoTags":[],"techTrees":[0],"infrastructureTags":[71,110],"otherInfrastructures":["category:XRPL","category:Trading","category:Futures","category:Hooks"],"lastEditor":{"id":94297,"username":"chris","date":1692255487000},"upvoted":false,"followed":false,"upvoters":{"count":0,"list":[]},"kycStatus":0,"ideas":[],"name":"Futures Trading Platform on XRPL","techniqueField":"","source":"Hackathon-XRPL Summer Hackathon | Ripple","vision":"The first smart contracts based futures trading platform on the XRPL using Hooks.","projectDescription":"A big shout out to **Wietse Wind and his team** for providing us with an early alpha version of XUMM 2.6 that supports hooks signing. This allows us to show you seamless **XRPL DeFi with Hooks and XUMM** in the video!\n\n## Inspiration\n\nThe XRPL introduced the first DEX over 10 years ago, and now it's time to take the next step - a futures DEX!\n\n## Benefits of a futures DEX\n\n- [x] Leverage: Amplify potential profits with smaller capital.\n- [x] Risk Management: Hedge against price fluctuations and manage risk.\n- [x] Diversification: Access a wide range of markets and asset classes.\n- [x] Market Liquidity: Enjoy efficient trading and competitive pricing.\n- [x] Price Transparency: Access to fair and equal market information.\n- [x] Opportunity for Profits: Benefit from rising and falling markets.\n- [x] Lower Transaction Costs: Competitive commissions and reduced expenses.\n- [x] Security and Transparency: Secure and auditable transactions.\n- [x] Decentralization: Eliminate intermediaries and enhance trust.\n- [x] Trustless Environment: Automated execution without relying on trust.\n- [x] Global Accessibility: Access markets worldwide.\n- [x] Faster Settlement: Near-instantaneous trade execution and settlement.\n- [x] Tokenization: Representation of real-world assets for increased liquidity.\n\n## It's more than just facts\n\n_What if ..._\n\nLayla — a farmer from West Africa — would like to grow rice. According to the current price, it would be worth it and she could earn enough money to feed her family and then be able to replant the field.\nBut what if the price falls by harvest... She would lose her entire livelihood.\n\nSo she goes to DeXfi and creates an offer within seconds:\n\n10cwt. RICE (backed token issued on the XRPL that is also traded on the DEX) for $185 due in 150 days.\n\nAnyone from individuals to businesses to financial institutions can accept the offer with one click. Both parties only have to deposit 10% of the required amount as collateral and have until the end of the trading period to pay the remaining 90%.\n\nOnce the trade expires, each party receives the predetermined amount.\nIf one party fails to make the final payment, it loses its collateral to the other party.\n\nOn the one hand, this ensures that exactly the people who need this service the most - people with little capital - can participate and benefit freely and on the other hand that both parties are interested in completing the trade properly.\n\nThis is just one of many possible examples to give you an idea of what is possible. It is not only tied to RICE as you can see in the app, it also includes many other commodities such as GOLD or currencies. Just take a look and let your imagination run wild.\n\nDecentralized - Open Source - Fast - Simple - Low Cost - Accessible to everyone\n\n## How does it work\n\nTrading on our non-custodial futures trading platform is easier than using a CEX. Just follow the instructions below and let the Hook handle the rest.\n\n### **Create a trade offer:**\n\n1. Select amounts and currencies you want to trade and set how long you want the trade to last.\n\n1. Send 10% of the amount plus the trading fee (0.1% of the amount or at least 10 units) to the smart contract to open the order.\n\n1. Wait for someone to accept the trade offer.\n\nYou can cancel the offer at any time. Open offers are valid for 30 days after which they will be cancelled.\n\n### **Accept a trade offer:**\n\n1. Send 10% of the amount to the smart contract to open the trade.\n\nYou both now have the agreed trading time to pay the remaining 90%.\n\n### **Close a trade:**\n\nAfter the trade expires, there are 3 different scenarios:\n\n1. Both parties have paid the remaining 90%: everyone gets what was originally agreed.\n\n1. One party failed to pay the remaining 90%: the other party gets their own money back plus the other party's 10% collateral.\n\n1. Both parties have not paid the remaining 90%: both lose their 10% collateral.\n\n## Just give it a try [➡️ Futures Trading](https://dexfi.pro/futures)","teamDescription":"Chris: Full stack dev","githubPage":"https://github.com/winklerchris/FuturesHook","githubVerify":0,"demoLink":"https://dexfi.pro/futures","demoVideo":"https://youtu.be/itKrsDwmCMI","ownerTitle":null,"ownerIntroduction":null,"twitterVerified":false,"weibo":null,"nft":null,"scOwner":"","editTime":1692255487,"upvotes":"0.00","isRecruitingEnabled":false,"recruitingInfo":"","recruitingLink":null,"twitter":null,"facebook":null,"instagram":null,"socialTelegram":null,"socialDiscord":null,"socialLinks":[],"showedFunding":false,"agentStatus":null,"createdAt":"2023-08-17T14:58:00.038341+08:00","updatedAt":"2023-08-18T01:08:30.851973+08:00","milestoneEditor":94297,"path":"/buidl/7045","techField":"","techFieldAry":[],"techTree":[0],"tags":[71,110],"otherTags":["category:XRPL","category:Trading","category:Futures","category:Hooks"],"origin":"Hackathon-XRPL Summer Hackathon | Ripple","intro":"A big shout out to **Wietse Wind and his team** for providing us with an early alpha version of XUMM 2.6 that supports hooks signing. This allows us to show you seamless **XRPL DeFi with Hooks and XUMM** in the video!\n\n## Inspiration\n\nThe XRPL introduced the first DEX over 10 years ago, and now it's time to take the next step - a futures DEX!\n\n## Benefits of a futures DEX\n\n- [x] Leverage: Amplify potential profits with smaller capital.\n- [x] Risk Management: Hedge against price fluctuations and manage risk.\n- [x] Diversification: Access a wide range of markets and asset classes.\n- [x] Market Liquidity: Enjoy efficient trading and competitive pricing.\n- [x] Price Transparency: Access to fair and equal market information.\n- [x] Opportunity for Profits: Benefit from rising and falling markets.\n- [x] Lower Transaction Costs: Competitive commissions and reduced expenses.\n- [x] Security and Transparency: Secure and auditable transactions.\n- [x] Decentralization: Eliminate intermediaries and enhance trust.\n- [x] Trustless Environment: Automated execution without relying on trust.\n- [x] Global Accessibility: Access markets worldwide.\n- [x] Faster Settlement: Near-instantaneous trade execution and settlement.\n- [x] Tokenization: Representation of real-world assets for increased liquidity.\n\n## It's more than just facts\n\n_What if ..._\n\nLayla — a farmer from West Africa — would like to grow rice. According to the current price, it would be worth it and she could earn enough money to feed her family and then be able to replant the field.\nBut what if the price falls by harvest... She would lose her entire livelihood.\n\nSo she goes to DeXfi and creates an offer within seconds:\n\n10cwt. RICE (backed token issued on the XRPL that is also traded on the DEX) for $185 due in 150 days.\n\nAnyone from individuals to businesses to financial institutions can accept the offer with one click. Both parties only have to deposit 10% of the required amount as collateral and have until the end of the trading period to pay the remaining 90%.\n\nOnce the trade expires, each party receives the predetermined amount.\nIf one party fails to make the final payment, it loses its collateral to the other party.\n\nOn the one hand, this ensures that exactly the people who need this service the most - people with little capital - can participate and benefit freely and on the other hand that both parties are interested in completing the trade properly.\n\nThis is just one of many possible examples to give you an idea of what is possible. It is not only tied to RICE as you can see in the app, it also includes many other commodities such as GOLD or currencies. Just take a look and let your imagination run wild.\n\nDecentralized - Open Source - Fast - Simple - Low Cost - Accessible to everyone\n\n## How does it work\n\nTrading on our non-custodial futures trading platform is easier than using a CEX. Just follow the instructions below and let the Hook handle the rest.\n\n### **Create a trade offer:**\n\n1. Select amounts and currencies you want to trade and set how long you want the trade to last.\n\n1. Send 10% of the amount plus the trading fee (0.1% of the amount or at least 10 units) to the smart contract to open the order.\n\n1. Wait for someone to accept the trade offer.\n\nYou can cancel the offer at any time. Open offers are valid for 30 days after which they will be cancelled.\n\n### **Accept a trade offer:**\n\n1. Send 10% of the amount to the smart contract to open the trade.\n\nYou both now have the agreed trading time to pay the remaining 90%.\n\n### **Close a trade:**\n\nAfter the trade expires, there are 3 different scenarios:\n\n1. Both parties have paid the remaining 90%: everyone gets what was originally agreed.\n\n1. One party failed to pay the remaining 90%: the other party gets their own money back plus the other party's 10% collateral.\n\n1. Both parties have not paid the remaining 90%: both lose their 10% collateral.\n\n## Just give it a try [➡️ Futures Trading](https://dexfi.pro/futures)","images":["https://cdn.dorahacks.io/static/files/18a0243f6ae78156d362bf54baa825ec.png"],"team":"Chris: Full stack dev","github":"https://github.com/winklerchris/FuturesHook","demo":"https://dexfi.pro/futures","video":"https://youtu.be/itKrsDwmCMI","socialTwitter":null,"socialFacebook":null,"socialInstagram":null,"nftId":null,"haxonBuidls":[{"id":6961,"projectId":7045,"name":"Futures Trading Platform on XRPL","track":"Hooks Track","bounties":[],"haxonId":134,"haxonName":"XRPL Summer Hackathon | Ripple","status":2,"haxonCreateAt":"2023/06/05 12:00:00 UTC"}],"kudoData":null,"bountyObjs":[],"tracks":[],"badges":["{\"schema\":\"BADGE\",\"d\":{\"index\":\"b7164\",\"badgeType\":\"buidl\",\"path\":\"/buidl/7045/achievement/b7164\",\"ownerId\":7045,\"iconName\":\"b1\",\"updatedDate\":\"2023/11/09\",\"title\":\"XRPL Summer Hackathon | Ripple\",\"detail\":\"Winner\",\"tag\":\"Hackathon\",\"imageUrl\":\"https://cdn.dorahacks.io/static/badge/b1_XRPL~c32Summer~c32Hackathon~c32|~c32Ripple.webp\",\"shareImageUrl\":\"https://cdn.dorahacks.io/static/badge/b1_XRPL~c32Summer~c32Hackathon~c32|~c32Ripple.jpg\",\"id\":7164,\"metaInfo\":{\"type\":\"HACKATHON_WINNER\",\"hackathonId\":134,\"title\":\"XRPL Summer Hackathon | Ripple\"},\"createdAt\":1699507935,\"updatedAt\":1699507935,\"type\":1,\"subjectId\":134,\"metadata\":{},\"buidl\":7045}}"]}}