Events
Cash-to-DeFi: the Consensus X EasyA 2024 Stellar Hackathon
Author
Anuhya Challagundla
Publishing date
The Stellar Cash-to-DeFi Challenge was one of 5 tracks featured at this year's Consensus X EasyA 2024 Hackathon. Hosted in Austin, Texas, from May 29th to the 31st as part of Consensus by Coindesk 2024, this event brought together a diverse group of blockchain enthusiasts, developers, and industry leaders for keynotes, panels, and workshops. Consensus is one of the industry's most anticipated gatherings and was an ideal place to highlight the Stellar network and meet with builders looking to innovate and create real-world solutions.
Only on Stellar
Cash-to-DeFi
The Cash-to-DeFi track challenged hackers to dream up solutions to real-world problems that leverage Stellar's unique ability to connect a worldwide network of cash on and off-ramps to smart contract protocols. Stellar cash-to-DeFi "is a powerful combination that unlocks access to financial possibilities for people worldwide, and creates new opportunities for innovators to reach new markets and develop new solutions to real-world problems," the challenge prompted, "What will you do with it?"
Participants identified use cases that connected building blocks like Circle USDC and MoneyGram Access to digital wallets and smart-contract protocols in order to unlock economic potential. The goal was to create solutions that touch every corner of the world, and that help create equitable access to financial infrastructure.
A Global Footprint
The Builders
To encourage participation in the hackathon, the Stellar Development Foundation (SDF) offered scholarships to builders from all over the world — including to developers from the Rise.in community in India, hackers from Palta Labs in from Chile, and students from The University of Waterloo and Boston University — to help cover the costs of their trips to Texas. EasyA doubled down by bringing in builders who participated in #60daysofsoroban and #60daysofStellar challenges on their app.
Standout Projects
The Winners
In general, the Stellar submissions were awesome, and the judges were blown away. That said, five stood out for their innovation, impact, and design. Here are the winners:
First Place ($20,000)
DeFindexes
DeFindexes allows wallet providers to offer savings accounts with diversified DeFi investments in just one click. Using Soroban smart contracts, DeFindexes enables users to create and manage DeFindexes that distribute investments across multiple DeFi protocols. This solution not only simplifies integration for wallet providers, but also introduces a revenue share model that benefits both wallets and protocols.
- Follow on Twitter: @PaltaLabs, @coderipper, @getmeru, @SoroswapFinance
- Website: Paltalabs.io, Meru
- GitHub: DeFindexes, Meru SDK
Second Place ($10,000)
Global Rupee (GLR)
Global Rupee (GLR) revolutionizes the connection between the local Indian economy and global markets. This stablecoin — which on-ramps India’s CBDC, E-INR, through an India anchor Onramp.money — makes INR globally accessible. It offers secure, transparent, and efficient transactions without the need for traditional banking intermediaries.
- Follow on Twitter: @melbint04, @vaibhavgeek
- GitHub: Global Rupee
Third Place ($7,000)
RampMeDaddy
RampMeDaddy simplifies crypto on-ramping and remittances by allowing users to convert fiat to crypto affordably using a Stellar and Telegram integration. This platform combines the network’s fast, secure transactions with Telegram’s user-friendly interface to provide an accessible service for everyone.
- Follow on Twitter: @hodlhoffy, @andrey_chabanov
- GitHub: RampMeDaddy
Fourth Place ($5,000)
Punch Starter
Punch Starter is a social crowdfunding platform featuring a unique DAO-based oversight system. The platform leverages community input to vet projects and ensure that supported products meet the community’s needs and expectations.
- Follow on Twitter: @wezabis, @0xDMello, @HeyWilliamWang
- GitHub: Punch Starter
Fifth Place ($3,000)
Lumen Finance
Lumen Finance offers a blockchain-based invoice financing platform for SMEs, which improves cash flow and provides yield opportunities for liquidity lenders. Leveraging the Stellar blockchain, Lumen Finance ensures transparent, decentralized, and efficient financing solutions.
- Follow on Twitter: @permaintern, @zklim5389, @jcruzfff
- GitHub: Lumen Finance
What's Next
Join the Community
Congratulations to all the hackers and winners. It's super exciting to see new and veteran Stellar developers cooking up ideas together in the pressure cooker of a hackathon, and we can’t wait to see these projects — and others like them — take the next step by applying to the Stellar Community Fund Startup Camp or Awards.
Interested? Check out community fund.stellar.org.