The first FraxBUILD Hackathon has proven to be an incredibly successful effort in bringing together builders across DeFi to contribute to the growth of the Frax ecosystem. The event came at a time of great fanfare for Frax. The protocol taking major steps on its road to decentralization with the deployment of FraxGov and a myriad of upcoming releases including Frax v3, frxETH v2, BAMM, and of course Fraxchain. As Frax Co-Founder Sam Kazemian said recently in a Twitter Space, “the next year of shipping for Frax is going to look like the past year that Frax has been slacking. With vibes high and excitement evident for the ecosystem, developers inevitably were attracted to FraxBUILD, which offered them the perfect opportunity to explore Frax adjacent projects.

Our collaboration with Dorahacks for the hackathon allowed us to host a variety of workshops and office hours where hackers were able to interact with the core dev team and even get tidbits of alpha along the way. Most notably, during the first workshop back in June, Sam Kazemian presented the full architecture of frxETH v2, the first lending market for validators. Entries flooded in with hackers competitiing in the categories of product expansion (build on top of Frax products), consumer adoption (build Frax products for end users), and data analytics (build dashboards keeping track of the Frax protocol and ecosystem on-chain).

Methodology and Winners

For the judging, we were able to band together an impressive list of individuals including members of the Frax Core Team (Travis Moore, Nader, and Dennis), Redacted Founder 0xSami, and myself (the least impressive) to go over the final list of entries. Applicants were judged in four different categories including business model, innovation, technicality, and alignment went Frax. After tallying up the scores and applying points to 1st place (3 points), 2nd place (2 points), and 3rd place (1 point), we were able to come up with the winners:

• Product Expansion

  • 1st Place: Fraximal

    • Fraxlend Optimizer that uses a $FRAX-Based ERC4626 vault. The product is fully audited and deployed and currently holds nearly $3 million in TVL.

  • 2nd Place: Revest

    • Allows users to deposit FXS/FPIS into the veFXS/veFPIS vault and receive an FNFT (Financial FNFT) as a record of their deposit and claim yield natively from their FNFTs.

  • 3rd Place: Zaros

    • Existing at the intersection between perpeutal futures and LSTs, Zaros is a derivatives DEX that uses sfrxETH to back zrsUSD. Traders can buy zrsUSD to create leveraged positions on Zaros' perpetual futures markets.

  • Honorable Mention: zkFrax

    • zkFrax is a non-custodial solution that uses stealth addresses which enables users to receive Frax Ether(frxETH) Stablecoin on Ethereum Blockchain without revealing receivers real address

• Consumer Adoption

  • 1st Place: Sticker Protocol

    • the sticker protocol is a public good, fully permissionless, and a open hyperstructure for selling, printing, trading, and redeeming digital stickers backed by frxETH

  • 2nd Place: FraxSurance

    • Decentralized insurance coverage utilizing FRAX to protect against inflation.

  • 3rd Place: Frax Lend Bot (Telegram)

    • Frax Bot is a Telegram bot powered by RASA that provides convenient access to the status of Frax wallets. Users can effortlessly view the current status of their Frax wallet and subscribe to receive daily notifications about subscribed wallet(s).

• Data Analytics

  • 1st Place: Curve AMO

    • Dashboard that breaks down the major actions of the CurveAMOs according to their spec.

  • 2nd Place: N/A

  • 3rd Place: N/A

*Note: Because there were was only one submission for Data Analytics, we are allocating the unused prize money from that pool and rewarding it to the Honorable Mention in the Product Expansion category.

Wen FraxBUILD II

Fifty-thousand dollars of FXS will be distributed to our winners in the coming days. We would like to give a special thank you to Brian, Claire, and the entire Dorahacks for facilitating the hackathon, the Frax DAO and community for approving our grassroots effort, and of course each and every one of our participants who entered the hackathon.

With Fraxchain confirmed for 2024, it is likely we will see another FraxBUILD in the future. Stay tuned!