SubQuery, the leading data indexing solution in Polkadot, is delighted to showcase the winners of the recent Encode Club Polkadot Hackathon. Encode Club is a leading blockchain education community which promotes the ecosystem via events like hackathons, and accelerator programs. SubQuery partnered with Acala/Karura in September to sponsor three challenges to a value of $14,000, inviting developers to build useful tools, dashboards and DApps.
After 10 weeks and scrutiny from high profile judges in the Polkadot ecosystem such as Bryan Chen (Co-Founder and CTO of Acala), Hang Yin (Co-Founder of Phala Network), Jack Platts (Co-Founder of Hypersphere Ventures) and Sota Watanabe (Founder of Astar, CEO of Stake Technologies) we are happy to share the winners of our challenges.
The challenges for the Acala/Karura and SubQuery portion of the hackathon were focused on leveraging the power of Polkadot’s leading DeFi platform combined with SubQuery data. In addition to warm-up challenges where developers could get accustomed to the Karura SubQuery project, the main challenges were to build a DeFi bot, a dashboard or analytics tool, or a Defi DApp.
Build a Bot
The first challenge of building a DeFi bot had $3,500 in prizes available for participants who could build a bot that leveraged DeFi activity and on-chain or aggregated data though SubQuery to capitalize on opportunities within the Acala/Karura platform.
The team at Krakura won this challenge with an interesting open source DEX exchange arbitrage bot built specifically for Karura. The arbitrage bot constantly checks for pricing differences between the two platforms and executes trades when they are profitable.
Dashboard or Analytics Tool
The second challenge worth $4,000 in prizes asked developers to leverage SubQuery’s data indexing services to build a dashboard or analytics tool based on Karura data. The winner of this challenge was the team from Polkadata, a data analytics platform for DeFi investors to track how smart money is investing and structuring their portfolio on Karura.
“The Encode Hackathon provided a great opportunity to connect and collaborate with passionate builders in the Polkadot ecosystem. Everyone involved, including the Encode team, partner organizations, and fellow hackers were all welcoming and exceptionally helpful. Additionally, having clear guidelines and firm deadlines gave our team a sense of urgency that was key for building out MVP.
The best part of the Hackathon was meeting fellow hackers and having startup thought leaders as advisors and guides for the product we were building. We appreciated the support we received from SubQuery as we worked through the data architecture of our analytics product. SubQuery also provided the simplest way to query on-chain data, avoiding having to build from scratch with API calls” says Michael Anderson from the Polkadata team.
Build a DeFi DApp
This challenge featured the largest prize of the whole hackathon worth $3,500 and an overall challenge pool of $5,000.
Entity 54 were the winners in the Defi DApp category taking home $3,500. Entity 54 is a DApp that connects to AMTC6 via Acala API/EVM and reads account balances, loans and allows swaps, transfers, loan adjustments and transfers plus reads coin and loan data. Angelos Diamantis from Entity 54 was thrilled with the result sharing, “Winning the hackathon has been a fantastic experience. We have been overwhelmed by the interest in the products we are building, resulting in many new industry relationships being established. Going forwards our prime focus is on core product development and a frictionless user experience. Time is the most rare commodity while interchain and Dapp data flow is the development fuel. SubQuery data aggregation and multi-layered analytical products address both. We will be looking to integrate deeper SubQuery offerings within our products as they progress”.
Other Notable Entries
We were quite impressed by the work of Defitax, a decentralised platform that helps users stay compliant and get their crypto taxes complete without the need for third-party intervention. Focusing primarily on America to begin with, the team thrive on handling all the complex calculations and intricacies of tax calculations so that you don’t have to.
Shankar Rao Mata from Defitax was already familiar with SubQuery, having started his journey with us as an ambassador and now entering into the Hackathon with a team of other passionate and ambitious individuals. Shankar mentioned of the hackathon, “The Encode Hackathon was a great experience for us and was the perfect environment for our project. SubQuery was, and will continue to be, instrumental in supporting the large amounts of indexed data that we require in order for Defitax to succeed”.
With both DeFi and Acala/Karura receiving an increasing level of awareness, we were excited to see the response from the developer community. To get things moving SubQuery hosted a workshop where hackers learned how to index blockchain data and get a node and query service running in only a few minutes.
Sam Zou, the Founder of SubQuery said “SubQuery is thrilled to support the developer community and the next generation of Polkadot projects through Encode Club’s Polkadot Hackathon. SubQuery provides a foundational layer for developers to create game-changing DApps in areas such as DeFi, so we want to encourage people to build tools and applications that take us closer to our vision of a Web3 future”
After the Hackathon, projects are eligible to apply for a 10-week Polkadot Accelerator programme run by Encode. Many of these projects are right in the middle of this Accelerator and all are invited to apply to SubQuery’s recently announced Grants Programme.
SubQuery is a decentralized data aggregation, indexing & querying layer between Layer-1 blockchains and decentralized applications. This service unlocks blockchain data and transforms it to a queryable state so that it can be used in intuitive applications. It allows DApp developers to focus on their core use case and front-end, without needing to waste time on building a custom backend for data processing. The upcoming SubQuery Network will decentralize and tokenize the ecosystem to allow everyone to participate in the web3 data revolution.