It’s no secret that the core team that maintains the Frax protocol is lean, counting its devs in the single digits. As stated in their docs, Frax’s primary mission is to issue the most innovative, decentralized stablecoins and the subprotocols to support them.
Because of this singular focus, it leaves plenty of room to build on top of the ever-growing Frax ecosystem. Look no further for evidence of this than Hourglass, a project that is building an exchange for semi-fungible time-based tokens (such as Frax LP tokens) and recently raised a $4.2 million round from Electric Capital, Circle, and others.
In other words, the opportunities are there, it’s up to you to uncover them, and now we are here to support.
FraxBuild, The Frax Ecosystem Hackathon
Enter FraxBuild, the first-ever Frax-sponsored Hackathon brought to you by Dorahacks yours truly at Flywheel. The hackathon comes at a time of rapid protocol progress; frxETH is about to surpass 230k ETH staked, Fraxlend just added its first curve LP tokens, we are on the eve of the biggest protocol upgrade in over a year with Frax v3, and that’s just to name a few.
FraxBuild is a completely virtual affair that will take place over the course of 50 days with submissions ending July 18th. $50k in FXS of prizes will be up for contention in the following categories:
Product Expansion
1st place: $20k
2nd place: $10k
3rd place: $5k
Consumer Adoption
1st place: $7.5k
2nd place: $3.5k
3rd place: $1k
Data Analytics
1st place: $2k
2nd place: $750
3rd place: $250
Idea suggestions for tracks can be found here. Two days of judging will take place with winners being announced July 20th. The all-star panel of judges includes:
- Sam Kazemian (Frax Finance Co-Founder)
- Travis Moore (Frax Finance Co-Founder)
- Drake Evans (Frax Finance Lead Developer)
- Ken Deeter (Partner, Electric Capital)
- DeFi Dave (Flywheel Co-Founder and Frax Finance Core Advocate)
Furthermore, FraxBuild gives hackers the unique chance to interact with the Frax Core Team directly via a series of office hours and technical workshops (dates and times can be found here). If you ever had a technical question to ask about Frax (or just wanted to learn about the protocol at a deep level), here are the perfect opportunities to do so.
We would like to thank the Dorahacks team for providing the platform to make this all possible and the Frax community for approving of this historic hackathon months prior. Registration is open! Those who are interested in participating can sign up now.
Happy hacking!
