IdentDeFi and BankAPI3 overcame lots of outstanding heavyweights to turn into the winners of the #BUIDLATHON API3 Bounty challenge at ETHDenver 2022.
The “Bug Bounty” or “Bounty Hunt” system is organized to motivate “white hat hackers” to uncover vulnerabilities in the project’s blockchain. DRAWAs a sponsor of ETHDenver DeFi, API3 presented lots of interesting prizes to challenge participating teams with the problem to resolve issues employing API3 engineering. And two brightest names have been unveiled: IdentDeFi and BankAPI3.
Previously, API3 and Amberdata announced the new Amberdata Beacon product or service at ETHDenver 2022 #BUIDLATHON to energy the DeFi ecosystem at this significant occasion, paving the way for Web3 developers to use the Beacon.
API3 Sample: IdentDeFi ($ seven,500)
IdentDeFi impressed the #BUIDLATHON judges, winning two API3 bounty problems with a complete prize worth of up to USD seven,500, as properly as prizes for the DeFi, Harmony bounty and celebrity competitions cited by the jury.
Furthermore, the task is viewed as the most very likely to entice consumer adoption and will make new frontiers for DeFi.
The ingenuity of this task is evident in the Whitepaper. A zero-information KYC open regular that makes it possible for decentralized dApps and protocols to perform adequately on Web3, below the moniker, although remaining compliant with KYC, AML, CFT, and other age verification rules.
Casper Yonel, co-founder of IdentDeFi explained:
“We are particularly pleased to have met this challenge and to have had the possibility to get the job done closely with API3. We will proceed to investigate their Airnode infrastructure, securely and effectively connecting off-chain and on-chain information devoid of intermediaries. This serves as a crucial block for our zero-information regular and in the long run paves the way for widespread adoption of the protocol. ”
Runner-up API3: BankAPI3 ($ two,500)
BankAPI3 presented an inspiring see and astonished the judges by building a Beacon-based mostly margin payment process to assure that the exchange charge threshold was met ahead of executing a transaction.
The task that was rated as the most incredible API3 Beacon consumer wholly broke the mold and absolutely deserved the $ two,500 reward.
In addition to this exchange charge conditional payment process, BankAPI3 intends to launch revolutionary Web3 banking capabilities this kind of as wire transfers, immediate loan.
Ragib Hussain, Representative of BankAPI3 stated:
“It has been a fantastic expertise for our group employing Amberdata API3 Beacon and I would suggest everybody to use them as miracles to recover the rates of on-chain worth pairs. In addition, we are also incubating other new capabilities in the potential. ”
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