On Friday, Blockchain Ventures Cosmos and BlockStack announced winners of the HackAtom V and HackDeFi special hackathon, each providing insight into the next wave of DeFi’s development – a vision that includes noticeable tools, compatibility and planning improvements.
While the vast majority of decentralized finance (DeFi) development remains focused on Ethereum, with more than $ 16 billion in digital assets currently secured by various DeFi protocols, Cosmos and STX are currently ranked 25th and 59th in the ranking of projects by value It seems that those who wake up quickly are hungry for a slice of the DeFi Ethereum cake.
On the Cosmos side, the blockchain focused on interoperability and scalability awarded HackAtom V awards to competitors who deliver multi-chain efforts, in addition to a temporary ‘redemption account’.
Released to Thomas Tauber, an engineer working on the futuristic Crypto.com blockchain, the Clawback Account is a pair of smart contract-linked accounts that provide secondary access to funds over a period of time. Potential uses of affiliate accounts include managing a cryptocurrency earnings portfolio, in addition to automated payment programs and other digital reward programs.
Another promising claim from DeFi is Osmosis, who has described himself as “Balancer Meets Interchain Staking.” The main feature of Osmosis, an automated market maker similar to Balancer, is a “custom bet code generator” that allows users to create tokens that can be placed into multiple strings, which may provide developers with access to liquidity in multiple ecosystems.
For Blockstack, a project that aims to use Bitcoin as a security for developing decentralized applications (Dapps), first place went to DualX, a project that allows users to pre-program certain trading logic in often locked game chests.
DualX positions itself as a new type of exchange, which “enables an investor’s capital (expressed in BTC) to receive income from his money, and passively waits to purchase investment assets (for example, STX).” The BTC depositor will receive income to STX at a certain price, and after In this way, the depositor will have the opportunity to purchase STX.
These potential innovations are emerging at a particularly promising time for Divi’s growth. While this number is controversial, some analysts claim DeFi has surpassed 1 million users, and there is a boom in products that could help stabilize the room.