Binance Smart Chain Africa hackathon rewards product hunting: ecological robotic platform of Chemix
Introduction of Chemix
Chemix Labs (Chemix for short) is the world’s first fractional-algorithmic synthetic assets protocol developed by the QIAN Protocol team. In Chemix’s minting operation, the algorithmic part is regulated by KUN tokens. Chemix is open-sourced .permissionless, and entirely on-chain functioned, currently implemented on the BSC (Binance Smart Chain) network. The name Chemix is derived from the Chemical reaction, which corresponds to the core business of the synthetic assets. The goal of Chemix is to establish a scalable, distributed, algorithm-adjusted synthetic asset management system. The advantages are the improvement of the user’s capital utilization rate and the stable arbitrage mechanism made through real-time minting, redemption, buyback, and recollateralization.
Online date: April 2, 2021
Theme of activity
Chemix robotic strategy of arbitrage and vault for ordinary users
Description of problems
When it comes to the very first synthetic asset of Chemix: QSD minting, redemption, buyback, collateralization, mining, and several operations, users can generate arbitrage between BUSD and QSD. And if they generating it continuously, there will be considerable annualized profits. However, there are certain thresholds for users of Chemix to operate for applying arbitrage strategies, resulting in limited liquidity and an incompleted arbitraging market environment.
Description of Requirements
The team of Chemix invites developers who are interested in the ecology of synthetic assets to learn more about the structure of this product, build an ecological robotic platform of Chemix and a BUSD or USDT managerial vault for ordinary users. Through continuously optimizing strategies, it will create lasting profits for the users who participate in the ecology. (Who deposits BUSD or USDT.)
To be more specific, this product will be something like Furucombo on Ethereum.
Evaluation Criterion
Both smart contracts and front-end pages can form a logical closed-loop of the product Chemix. Which should have all basic functions, can replace users to carrying out several functions. A concise code is preferred under the circumstances of achieving the same goal of functionality. The judges are Seamon, who is in charge of Chemix’s development team, and other technical experts who are designated by organizers.
Reward setting
For the participants, we prepared serval prizes, including but not limited to three medals and their BUSD rewards. The Gold medal product will also get investment chances of top-tier crypto funds to help you create your own long-term success project.
Gold medal: 3000 BUSD
Silver medal: 1000 BUSD
Bronze medal: 500 BUSD
Active time
You can send us your work from June 16th, 2020 to September 30th, 2020.
Anybody who is interested in this, please send an email to committee@chemix.io to have further discussion and get more support from Chemix team. Contact us through email to join the competition and show your talent to the world, we expect your active performance!
