Swivilian Update #1: ETH NYC Swivilian Recap
Everything ETH NYC, including the hackathon and the best projects built on Swivel!
Last week a few members of the Swivel team gathered up in New York City to sponsor ETHGlobal’s ETH NYC hackathon!
It was 48 hours of coffee and hackathon troubleshooting while running around NYC during NYC’s Pride Parade…
But the result was a great group of new partners, and a handful of awesome hackathon projects built on top of Swivel!
Time flies when you're having fun, but time flies even faster when you’re rushing at 5:00 am to finish a hackathon project before submission deadline…
We talked with a ton of teams, energy was in the air, and the same story was common – Hacking teams hadn’t slept for 48 hours and had just barely managed to finish before the bell.
It is always a joy to meet your community in person, but it's a definite privilege to meet a few teams building on top of the infrastructure you’ve helped to create.
With that in mind, we’d like to highlight a few of our hackathon prize winners!
We focused on projects that are solving real world problems, and found that three projects in particular we’re able to consolidate their ideas into something tangible within the tight 48 hour time limit.
First Place ($2500): Yield.Share
Yield.Share enables a new sort of creator support that doesn’t drain your pocket, and comes with an entire host of benefits.
Donators can share their yield with their creator by donating Swivel’s nTokens directly, ensuring the creator has a constant stream of donated $, without costing the donator any of their hard earned money.
Alongside their donation, Yield.Share supporters receive an NFT of their donation and comment as proof of their support which can be used as anything from an event ticket to a simple badge of honor.
The result is an ecosystem that allows a more sustainable flow of capital for creators, and a less parasitic relationship for supporters, all while also enabling a more involved experience through the distribution of exclusive supporter NFTs.
Second Place: MiranoPay
Yasmeen Roumie: yasmeen#4282
Doris Hernandez: Doris Hernandez#6761
Carlos Erazo: null#null
MiranoPay is a multi-chain payment ecosystem designed to enable the wider adoption and growth of payment rails for within LATAM.
MiranoPay takes a familiar model in the onboarding of third-world or otherwise less-banked economies by starting first with vendors.
By onboarding vendors first, and providing real world incentivization structure for vendors to grow the adoption of powerful payment rails, MiranoPay places its early vendor adopters at the center of its ecosystem, resulting in a strong mechanism for the early establishment of network effects.
Further benefits like optional restrictions on remittances helps to create a healthy ecosystem that incentivizes vendor adoption and can help actually bank the unbanked.
While streaming payments or otherwise utilizing the MiranoPay ecosystem, vendors/individuals can utilize Swivels zcToken to provide a guaranteed source of yield, or otherwise a way to retain some cash flow to live on while sending your principal back to your loved ones.
Third Place: ConvexSwap
For those familiar with Dave White / Dan Robinson of Paradigm’s TWAMM, ConvexSwap provides a similar time weighted benefit to your purchases.
In their words “ConvexSwap allows large trades to be streamed over time to reduce slippage and price impact while also aiming to minimize gas fees.” Largely through the time weighted distribution of volume, but in ConvexSwap’s case, also through the optimization of that time weighted distribution.
ConvexSwap uses the Swivel API to request the current Swivel rate which is used as a “risk-free” rate, and recent TWAPs are used to distribute volume per transaction with a bias towards mean reversion.
The result is a volume stream that attempts to minimize slippage and transaction fees while reducing general market impact and optimizing for volatility.
ETH NYC Wrap-up
The overall atmosphere at ETHNYC was one of excitement, curiosity, and open collaboration.
Teams were happy building the future of web3 in ETHGlobal’s first US hackathon since ETHDenver 2020, and we’re excited to compete for rewards and bounties.
ETHGlobal did a great job with the venue and executed well to create a great experience for hackers, judges, and sponsors, with the extra fun involved in being front and center for the Pride Day Parade in downtown NYC!
Congratulations to the Yield.Share, MiranoPay, and ConvexSwap for winning their share of our $5,000 prize pool! We can’t wait to see what comes of their projects!
For those that couldn’t make ETH NYC, keep an eye out for future events!
About Swivel Finance
Swivel is the protocol for fixed-rate lending and tokenized cash-flows.
Currently live on Mainnet, Swivel provides lenders the most efficient way to lock in a fixed rate as well as trade rates, and liquidity providers the most familiar and effective way to manage their capital.