Introduction
Frax Finance is a stablecoin protocol that issues innovative, decentralized stablecoins and builds subprotocols to support them. Currently, the three stablecoins issued by Frax are FRAX (dollar-pegged), frxETH (ETH-pegged), and FPI (CPI-pegged) while subprotocols include Fraxlend, Fraxswap, and Fraxferry. FRAX is one of the largest decentralized stablecoins in existence with over $1 billion in circulation, frxETH has been able to become the largest LSDs with 128k validators live today, and FPI pioneered the concept of a stablecoin that is pegged to the consumer price index that is resistant to inflation.
Frax has been able to build a microcosm of DeFi within itself with a core team of devs in the single digits. Although they have been able to make great strides in development over the past few years, there is still much to be built and the Frax team cannot do it alone. That is why we are excited to announce FraxBuild, the first ever official hackathon of the Frax ecosystem. The goal for this hackathon is to:
- Increase dev awareness of building on Frax and engaging with the developer community
- Build products and primitives that compliment the Frax ecosystem of stablecoins and primitives
- Educate developers about how they can integrate Frax into their protocols
FraxBuild is co-hosted by Frax Finance, Flywheel DeFi, and DoraHacks. From May 29th to July 25th, applicants will be able to submit their applications online for a chance to win over $50k worth of prizes in $FXS. Winner of the hackathon will be interviewed and have their product demo’don Flywheel DeFi.
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Key Dates
Judge Panel
- Sam Kazemian
- Travis Moore
- Drake Evans
- Ken Deeter
- DeFi Dave
Prizes
Product Expansion
- 1st place: $20k
- 2nd place: $10k
- 3rd place: $5k
Consumer Adoption
- 1st place: $7.5k
- 2nd place: $3.5k
- 3rd place: $1k
Data Analytics
- 1st place: $2k
- 2nd place: $750
- 3rd place: $250
About Frax Finance
Frax Finance is a protocol focused on building the most innovative and decentralized stablecoins as well as the financial infrastructure to support them. Launching in late 2020, Frax pioneered several concepts in DeFi including the hybrid stablecoin model and Automated Market Operations as well as ideas The DeFi Trinity and Stablecoin Maximalism. With a positive sum mentality, Frax Finance has been able to grow into one of the premier DeFi ecosystems with billions of dollars worth of stablecoins issued and hundreds of millions of dollars in TVL locked in its family of subprotocols.