ETHGlobal FVM Hackathon: A Quick Look At The 12 Projects That Entered The Finals

On February 10, the FVM Hackathon finals, jointly organized by ETHGlobal and Filecoin, were released. A total of 12 projects have been screened out, including DeFi, GameFi, storage, decentralized computing, and other fields.

The Filecoin Virtual Machine (FVM) is the runtime environment for smart contracts on the Filecoin network. It is compatible with the EVM and can provide Ethereum developers with an out-of-the-box development experience. The hackathon introduced FVM to the wider Ethereum ecosystem and provided close guidance and resources to support developers and their projects. The following Odaily Planet Daily will take you to understand the 12 shortlisted projects.

Cosmic Chicken

Official website: https://cosmic-chicken.finiam.com/

Cosmic Chicken utilizes the Chicken Bond mechanism introduced by the Liquity team, combined with FVM, to establish an undercollateralized lending agreement. The main purpose of the project is to reduce the cost of collateral funding for storage providers while providing attractive yield opportunities for FIL token holders.

Chicken Bonds were created in a way that allows protocols to bootstrap liquidity at a minimal cost. It opens up new monetization and trading strategies for future expected earnings of storage providers. In Liquity’s implementation of LUSD bonds, yields are generated by depositing LUSD into a stable pool, which acts as a source of liquidity to repay the debt on liquidated Troves (loans in the liquidity ecosystem).

In the concept of Cosmic Chicken, yields are generated by stake pools, and storage providers can deposit 50% of their required collateral and then borrow the remaining 50% from lenders offering FIL tokens by minting Chicken Bonds. This approach both provides liquidity to bondholders and enhances the stability of the protocol.

ZKaggle Bounty

Official website: https://zkaggle.vercel.app/

ZKaggle Bounty is a bounty platform for incentivizing decentralized computing on FVM. The project is not just for storage providers, but anyone who wants to share their processing power or monetize their proprietary model.

ZKaggle Bounty’s browser-based front allows bounty providers to upload their data to Filecoin and set up computation tasks with bounty rewards. Bounty hunters can browse through all open bounties, download the data to their local machines, and perform calculations. When they’re ready to commit, they build a ZK proof to commit the hash calculation to the chain. The bounty provider will review the submissions and issue the bounty.

Finally, bounty hunters can claim rewards by providing a preimage of the hash calculation result. ZKPs serve two purposes here:

(1) keep proofs of computation concise, and

(2) allow bounty hunters to monetize private models with credibility.

CollectifDAO

Official website: https://app.collectif.finance/

CollectifDAO is a non-custodial liquidity staking protocol on Filecoin. If you want to become a disk storage provider on the Filecoin network and get rewarded but you don’t have enough money to stake. Then you can borrow funds from CollectifDAO’s pool.

If you have sufficient funds and want to stake them as collateral on behalf of storage providers to receive some rewards, then you can deposit funds into CollectifDAO’s pool. In exchange, you will receive an interest-earning token that you can redeem back into your FIL at any time, along with the rewards you earn. Therefore, the funds are always controlled by oneself, and no third-party custody service is required.

Ninja Dash

Official website: https://www.thundergamestudio.com/web3/ninjadash/

Ninja Dash is a game with FVM Web3 capabilities. The game has a built-in in-game store and a decentralized financial system. When you pass the level with 3 stars, you can get free game tokens and unlock NFT for the character.

FileSaver

FileSaver is a decentralized storage that runs on the Filecoin network, designed to help store humanity’s most important information. With FileSaver, users can store, share and access their files anywhere in the world through the FileSaver platform, with no limitations in terms of time or memory. FileSaver guarantees that data will be stored for a specified period of time, such as 10 or 20 years or more, without requiring user action to extend the transaction.

FileSaver has two main modules:

• Private Drive: This module securely stores the user’s encrypted data and can only be accessed at the user’s discretion. Users can choose the level of decentralization by choosing their provider and the number of copies of their files, making it nearly impossible for a single entity to access or manipulate data. This is ideal for storing sensitive documents such as medical records and passports.
• Public Drive: This module is a public database consisting of data contributed by the FileSaver community. By donating to public transactions and extending their lifetime on FileSaver, the community can decide which data is important and for how long. Public drives are a great way to store authentic information and fight censorship or share knowledge in an open manner.

Sapo

Official website: https://sapo-sage.vercel.app/

Sapo is a decentralized cloud computing platform based on Filecoin EVM and Bacalhau computing data ecosystem. Sapo’s main goal is to provide an easy way to perform fully decentralized computing, enabling users to create more value from data stored on Filecoin.

Currently, Sapo just distributes the workload to bacalhau and ensures fair compensation. In the future, it is planned to incentivize computation execution and prove the validity of computation results. Storage providers can register with these new computing networks, and clients can assign work to providers, which, once executed, are rewarded by publishing proofs.

FNS Lookup

Official website: https://honestfil-0bbe3d.spheron.app/

FNS Lookup demonstrates the feasibility of domain registration and resolution on FVM, providing a way to translate Filecoin addresses and resources into human-readable names.

The FNS Lookup team hopes to create a decentralized personal website and DID system for Web3 users based on Filecoin FVM and build a BaaS (Blockchain as a Service) flexible tool with fully decentralized identity and data storage.

During the Space Warp Hackthon, FNS Lookup upgraded the UI/UX of the FNS contract and application and integrated FNS on the Filfox browser (FNS registration lookup, FNS name details display, displaying FNS name instead of an address, etc.) as the first application scenario of the FNS protocol.

FVM Explore

Official website: https://fvm-explore.vercel.app/

FVM-Explore allows developers to deploy, interact and verify their smart contracts in a concise interface. FVM-Explore was built to improve the developer experience on the FVM chain, as well as the interaction and verification process, and also allows developers to build applications on top of FVM-Explore using the API it provides.

FVM-Explore is divided into three distinct parts:

• Explore: Allows developers to interact with their smart contracts in an easy way by pasting their contract addresses.
• Deploy: Helps developers avoid the tedious process of creating a full project to deploy a smart contract; it also takes care of the compilation process and ensures users don’t have to export private keys or write any scripts to deploy their smart contracts.
• Verification: This feature helps developers verify their deployed smart contracts with one click and speeds up the contract verification process.

Datablocks

Official website: https://datablocks.store/

Datablocks is a set of smart contract primitives that can be the building blocks for building incentivized data DAOs on FVM.

The project revolves around three core pillars: Data Token, Data DAO Core, and Data Bounty.

Data tokens allow users to tokenize datasets on FEVM. The data token standard is just a new set of token contracts that embed the data Piece CID stored on Filecoin so that the token itself can represent the underlying data on the chain. This enables buyers who have a strong interest in the dataset or believe in its utility to purchase and take ownership of its tokens.

The Data DAO core serves three purposes: (a) Registry, (b) Treasury, and (c) Governance.

Data bounties are modules that incentivize the preservation, expansion, and innovation of DAO datasets.

Eclipse

Official website: https://eclipse-web3.netlify.app/

Eclipse is a decentralized platform that provides digital workspaces for startups and enterprises to securely store and manage their files using Data DAO. With Eclipse, businesses can:

• Securely and privately store and share files with its DAO members (on Filecoin).
• Leverage the decentralized storage provider marketplace and request storage of large files (100+ GB).

FilSwap

Official website: https://app.filswap.org/#/swap?chain=hyperspace_testnet&outputCurrency=ETH

FilSwap is a decentralized finance (DeFi) platform that provides a suite of financial services, including swap, decentralized exchange, liquidity management, and lending. These services are powered by FVM. Through FilSwap, users can fully control their assets and participate in the DeFi ecosystem with confidence.

The platform’s decentralized exchange allows for fast, low-cost transactions, while a liquidity management system ensures there are always enough assets available for exchange. The loan function provides fast and flexible financing channels, while the exchange function allows for seamless asset exchange. All transactions on FilSwap are conducted through smart contracts, ensuring transparency, security, and automation. The loan function in FilSwap is a decentralized finance (DeFi) solution that enables users to obtain loans using their storage space as collateral.

Loans are verified and secured by storage transactions on the Filecoin Virtual Machine (FVM). This allows users to obtain quick and easy loans without going through the traditional banking system. Loans can be used for a variety of purposes, such as paying bills, making investments, or paying for hardware costs. The lending feature in FilSwap provides users with a transparent and secure way to access the funds they need while also utilizing their storage space in a profitable manner.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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