New York, June 15, 2023 — Injective, a blockchain optimized for building premier Web3 finance applications, announces the winners of the first-ever Injective Hackathon 2023, the ultimate builder event for the next generation of DeFi.

The 4-week virtual event brought together builders from all over the world to showcase their creativity and skills in the realm of Web3. The Hackathon offered up to $1,000,000 in prizes, VC investments and connections, incubation opportunities, and access to technical mentorship. 

Injective witnessed an impressive array of submissions and numerous chances to make a significant impact in the space. After weeks of intense evaluation by an esteemed panel of judges, Injective presents the winners who emerged from the fierce battle of ideas and talent.

Top 3 Winners of the Injective Hackathon

1st Prize: Exotic Markets 
Exotic Markets use cases focused on sustainable yield and optionality opportunities, with the ecosystem position to bring one of the first options primitives to Injective that will allow for exotic financial products with parametrized risk-to-maturity customizations. Exotic Markets provides the opportunity for users to maximize their investment through sustainable products. Exotic Markets explores new horizons in the realm of yield generation. Exotic Markets demonstrates a deep understanding of the market's needs and presents a comprehensive solution. It enables non-trader users to efficiently trade understandable options through financial products with different risk and yield profiles. Exotic Market’s demo video can be found here.

2nd Prize: iLend
iLend use cases focused on borrowing and lending, with the ecosystem position to become the first native money markets protocol on Injective. iLend stands out for its innovative approach to lending, offering users the ability to lend and borrow digital assets in a trustless and transparent manner. Decentralized money markets protocols allow users to efficiently lend, borrow, trade with leverage, and earn through collaterals. Leveraging smart contracts, iLend mitigates counterparty risk while providing a seamless user experience. As all activities happen on the chain, it rules out the intermediaries within the process.  iLend’s solution has the potential to reshape the lending landscape, making it more accessible, efficient, and secure for users within the Injective Ecosystem. iLend’s demo video can be found here. 

3rd Prize: Black Panther 
Black Panther use cases focused on asset management, with the ecosystem position to become the first native asset management protocol on Injective. Black Panther showcases an innovative decentralized asset management platform that leverages Injective's capabilities to create a frictionless experience with an array of products. Black Panther enables users to easily create and manage diversified portfolios while benefiting from automated rebalancing and smart contract-based asset allocation. Black Panther’s solution empowers individuals to make informed investment decisions and paves the way for a new era of decentralized asset management. Through cutting-edge trading bots, it allows users to deposit their digital assets into vaults and profit from yield opportunities in the DeFi market directly without being a trading expert. Black Panther’s demo video can be found here. 

Community Award Winner 
Elixir
Elixir use cases focused on market making and yield generation, with the ecosystem position to re-envision market making. Elixir introduces a new financial primitive enabling liquid markets across centralized and decentralized exchanges. Elixir protocol actively deploys liquidity on the order book and enables projects to incentivize liquidity to their centralized exchange pairs via LP tokens. Elixir stands out for its dedication to community empowerment and its commitment to democratizing access to financial services. Elixir showcases a unique ecosystem designed to provide individuals, regardless of their technical expertise, with the tools and resources to participate actively in DeFi. Elixir’s demo video can be found here. 

Notifi Bounty Progam Winner
Cryptopawn
Qwerty Cryptopawn is a decentralized social lending platform that enables users to borrow and lend any cryptocurrency or NFT, even the most exotic ones. Leveraging smart contracts for secure and seamless transactions to solve the issue of the inefficiency of low-market capitalization, Cryptopawn provides an innovative way to generate opportunities and profit in the digital asset market. Integrating with Notifi’s solution, Cryptopawn creates a more user-friendly platform. Cryptopawn’s demo video can be found here. 

Pyth Bounty Program Winner
Magik
Magik offers two key features to help users manage and grow their assets on Injective. The Magik Vaults, are super vaults that enable users to generate the highest yields possible without actively managing their assets. The Magik Loans, are loans that provide users with access to capital without any interest or repayment obligations. Users can borrow up to 50% of their total value locked (TVL) and the loans are distributed as a synthetic asset, which ensures they can never be liquidated. Magik creates a fully customized design, from the landing page to the front-end user interface and user interactions, to improve user experience. Integrating with Pyth to peg synthetic assets, Magik enables users to access real-time price feeds and ensures that our synthetic assets are always accurately priced. Magik's demo video can be found here. 

“As we celebrate the triumph of the winning projects, we look forward to witnessing the impact these can bring to the Injective Ecosystem, “ said Eric Chen, co-founder, and CEO at Injective Labs. “Moving forward, Injective will keep pushing the boundaries of innovation and reshaping the future of finance.” 

The success of the Injective Hackathon reinforces Injective’s commitment to fostering the best environment for Web3 builders to realize their potential for groundbreaking innovation. Injective extends its gratitude to all participants, judges, mentors, and sponsors for their invaluable contributions in making the event a resounding success. 

About Injective
Injective is a lightning-fast interoperable layer-one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native token that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera, and Mark Cuban. For more information please visit https://injective.com/