A few days ago ended the hackathon organized by Zilliqa, whose goal was to create projects based on the XSGD-ZRC2 token and thus on the stablecoin featured on this blockchain.
And so, yesterday Zilliqa announced the winners: ZilGraph, Pung.me, XSGDBridge, Akun Ledger, Zilicraft, XDPay, XSGD Donation, Multitoken ZRC and Hashtimelock XSGD.
(1/3) The #XSGD Hackathon has ended. We would like to thank all participants for their awesome projects. A BIG round of applause for ZilGraph who won 1st place & a reward worth $3000! FANTASTIC work 🏆
Brilliant work by our runner-up teams as well! 👇
— Zilliqa (@zilliqa) November 11, 2020
The XSGD stablecoin from Zilliqa
Pegged 1 to 1 with the Singapore dollar, XSGD was created by Xfers, which last year obtained MAS (Monetary Authority of Singapore) approval for a digital wallet.
This enabled the service to expand throughout the region, serving giants such as Binance Singapore, Coinhako and WoWoo Exchange, as well as various merchants such as PayFazz and Porter Indonesia.
The team was thrilled to see talented people at the event, as Aymeric Salley, Head of StraitsX at Xfers, said:
“We are very excited to see talented teams come together to build products with XSGD while growing the Zilliqa ecosystem. Big congratulations from Xfers to the ZILgraph winner team, all the runner-ups and participants”.
The winners of the hackathon
The hackathon lasted 21 days and saw the participation of several teams that realized the most diverse projects.
The total prize money was over $10,000 in ZIL and XSGD:
- 3 thousand dollars to the first, divided in half between ZIL and XSGD;
- 1000 dollars each to the 5 finalists, also divided in half between ZIL and XSGD;
- 200 dollars each to the top 10 projects, always divided in half between ZIL and XSGD.
How does Zilliqa work
The Zilliqa blockchain uses a similar system to PoS (Proof of Stake), or rather a hybrid consensus protocol system that is a mix of PoW (Proof of Work) and PBFT (Practical Byzantine Fault Tolerance).
Zilliqa proposes itself as a blockchain open to finance and continues its vision of an Open Finance (OpFi), especially because anyone can create their own ZRC-2 token and list it on ZilSwap in a completely decentralized and autonomous way.
It is also possible to stake ZIL in order to have a passive income from tokens.