Reserve Hosts Hackathon with $70K in Bounties for DeFi Asset-Backed Stablecoins

By Justin Johnson.
Updated Mar 24, 2023

SAN FRANCISCO (PRWEB) March 24, 2023 - Reserve Protocol, a permissionless platform to launch and govern 1:1 asset-backed stable currencies, launches the next phases of its hackathon with an overall $70K in rewards available to winning projects. The hackathon aims to raise awareness around the need for stable, asset-backed currencies in DeFi with the goal of bringing hundreds of new developers and builders into the Reserve ecosystem.

In Phase 1, hackathon participants were tasked with ideating and presenting what a successful asset-backed currency (RToken) looks like using the Reserve platform. The winning teams were awarded $10k and announced at ETH Denver in March 2023.

For Phase 2, live now and runs to April 15, 2023, coder participants are judged based on the collateral plugins developed to allow other DeFi protocols, including Uniswap, Balancer, Maple Finance, and Stargate, to be used in the Reserve ecosystem. Reserve is offering $35K in rewards for this phase.

Phase 3 will be focused on deploying an RToken, which will begin on April 15, 2023. $25K in rewards are available for winning submissions across categories that include TVL, unique depositors, and governance. Phase 3 is no-code, and open to stablecoin enthusiasts, strategists, monetary policy experts, and governance specialists.

During Phase 1 we received many innovative ideas and presentations of what successful asset-backed currency could look like, said James Glasscock, Head of Ecosystem at Reserve. We are excited to see the collateral plugins and RToken adoption developed in Phases 2 and 3 that could help bring our money system into a more fair and transparent 21st century

For more information on Reserves $70K Hackathon or to sign up, please visit Reserves hackathon website.

For media inquiries, please contact Karen Hepp at (310) 260-7901 or karen@melrosepr.com.

About Reserve Protocol

Reserve aims to help people around the world fight inflation by providing access to a stable currency. The Reserve Protocol provides a turnkey, permissionless platform for anyone to create yield-bearing, asset-backed currencies that share revenue, are censorship-resistant, and have proof of reserves on-chain, 24/7. The platform is designed to provide an alternative to inflation-prone currencies, empowering people to maintain their purchasing power over time and across borders.