DeFiZap wins #KyberDeFi Hackathon!

#KyberDeFi Virtual Hackathon has officially ended! The 7-week hackathon was launched with the aim of discovering and supporting developer talent around the world who are building on decentralized finance (DeFi). 

Submissions were reviewed by a team of judges made up of industry pioneers with different fields of expertise, and were judged based on the following criteria:

  • Novelty ‘X’ Factor

  • Potential Value to Users

  • Quality of the Idea

  • Implementation of the Idea

  • Technical Difficulty & Design.

Just last month I reached out on Kyber’s discord looking for a team to bring DeFiZap to life! We are truly speechless and are pumped to keep building. Thank you for your continued support 🙌

View original post by Kyber here.

“Congratulations to DeFiZap for being crowned the Kyber DeFi Champion and winning $5000 in KNC!

DeFiZap, built by amateur_devNodar JanashiaRohith Srivathsav, and Tosh Sharma, allows you to allocate your assets across multiple DeFi protocols in one transaction to save time and gas. Zap is a smart contract that auto-spreads incoming deposits across Compound, Fulcrum, TokenSets and others, based on pre-set allocations.

You can send ETH to a Zap contract and receive allocated tokens. E.g. Lender Zap allocates incoming deposits 90% to cDai and 10% to dLETH2x. If you send 1 ETH to this Zap, you will receive 0.9 ETH’s worth of cDai and place a 2x margin trade with 0.1 ETH on Fulcrum (giving you exposure to 0.2 ETH).

For ETH to WETH to DAI, Kyber Network’s Proxy Contract is used with the swapEtherToToken function. Check out DeFiZap now!

Prizes: DeFiZap will be awarded $5000 in KNC. In addition, team members will each receive an exclusive Kyber’s Shield of DeFiance ERC-1155 NFT sponsored by Enjin, as well as a lovely Kyber SWAG package containing Kyber T-shirts, stickers, laptop sleeves, and other memorabilia.

Kyber’s Shield of DeFiance — an ERC-1155 NFT on Enjin

Continuing Development: Kyber looks forward to working closely with DeFiZap to provide mentorship, advice and support to further develop their awesome product. To fund development, the team will also get a chance to pitch to MetaCartel to receive continuity grants.”

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