Last updated: September 13, 2023
Now that the Sui protocol has been upgraded to enable liquid staking, it’s time to start building. The Sui Foundation invites you to participate in the community liquid staking hackathon, starting on August 16 and culminating in Virtual Demos from September 27-30. Results will be announced on October 2. Projects will compete for an equal share of 25M staked SUI in deposits (for Liquid Staking Protocol projects) and a prize pool of $125K USD worth of SUI tokens.
In addition, two DeFi protocols will award bounties. Cetus will award $5000 USD in CETUS tokens to an LST DeFi vault based on Cetus. NAVI will award $8000 USD in NAVI tokens to an LST DeFi project that leverages their protocol. Scallop will award $5000 in SUI tokens to an LST DeFu project that incorporates their protocol.
Project Categories Plus Bounties
Projects should fall in one of two of the following categories:
Liquid Staking Protocol
- Non-custodial liquid staking layer 1 implementations
LST DeFi and Tooling
- LST derivative based products (LST DeFi and other LST L2 products)
- LST related tooling and infrastructure
- LST DeFi vault based on Cetus
- LST DeFi leveraging NAVI
- LST DeFi incorporating Scallop
To be eligible for a prize, a project must:
- be deployed to Sui Mainnet or Testnet at the time of demo day
- use some form of liquid staking primitive on Sui
- be non-custodial
- promote decentralization, either by preserving the autonomy to stake with any validator, or using an algorithmic scheme that promotes beneficial staking behavior for the ecosystem
At least one member of the development team must:
- be able to participate in the demo day virtually at the end of September
- pass KYC to receive a prize
If chosen to receive Sui Foundation staked SUI, the project must be willing to go through smart contract auditing and deploy on Sui Mainnet.
All participants will be invited to attend virtual workshops on the following topics:
- Sui Staking Mechanism
- Dynamic Fields
- Fungible and Non-fungible Tokens on Sui
There are three key stages to the hackathon: registration, shortlisting, and demo day.
To register, teams must complete a registration form with details on what the team will be building. Projects will be reviewed by a committee of scorers chosen from the Sui Foundation, hackathon partners and supporters, and ecosystem projects based on a pre-set rubric. Projects whose average score reaches a pre-established minimum threshold will be shortlisted for participation in the demo day.
Demo day will happen virtually, allowing anyone around the world to participate in the hackathon. Winners will be announced on October 2.
Singapore Sui Builder House Check-in
Prior to the shortlisting judging period, teams have the option to attend the Sui Builder House Singapore (September 15-16) to meet Sui Foundation staff, judges, and other Sui DeFi project teams. There will be an opportunity to receive feedback and one-on-one guidance from the Sui Foundation team and judges.
More specific details will be released soon.
- Registration: Aug 16 - Sept 15
- Builder House Check-In (optional): Sept 15-16
- Shortlisting Judging Period: Sept 17 - Sept 21
- Shortlist Announcement: Sept 22
- Online Demo Day Sessions: Sept 27-30
- Results Announcement: Oct 2
Liquid Staking Protocol
- 25M staked SUI will be split evenly and deposited into the top three winners
- Two security audits for each of the three top winners
LST DeFi and Tooling
- 1st place: $50K USD worth of SUI tokens
- 2nd place: $30K USD worth of SUI tokens
- 3rd place: $20K USD worth of SUI tokens
- $25K USD worth of SUI tokens evenly split between all shortlisted teams that don’t place in top three of either category
Project team must build an LST DeFi vault focused on a stSUI-SUI pool on Cetus. It should:
- Allow users to easily add liquidity to the vault and get fungible LP tokens from the vault as ownership proof
- Be responsible for adding liquidity to corresponding pools on Cetus and its further position management
- Have a reasonable position rebalancing mechanism to maintain high capital efficiency
- Provide a smart contract method to allow developers to easily get the underlying asset amounts of an LP token to encourage composability
- Have an auto-compound feature that can help users to accrue transaction fee earnings and farming rewards (optional)
Project team must seamlessly integrate and leverage the NAVI Protocol's capabilities into the LST DeFi ecosystem. Of particular interest are solutions that enhance DeFi offerings, streamline user experiences, and create new opportunities for financial activities. It should:
- Integrate NAVI Protocol’s lending/borrowing features and smart contract
- Ensure transactional security, efficiency, and low latency
- Have a user-friendly interface using concepts such as step-by-step guides, FAQs, and tooltips
- Consider areas such as flash loans, yield farming, and staking
- Have undergone rigorous testing, including but not limited to security audits, performance tests, and user acceptance tests
- Be able to provide a live demonstration on a testnet before final deployment
Project team must develop a product that integrates Scallop's advanced capabilities into the Sui LST DeFi ecosystem. Of particular interest are solutions that:
- Integrate Scallop's lending/borrowing features and smart contract
- Leverage the Scallop SDK and sCoins (Scallop Market Coins) for new financial products
- Ensure robust transactional security, efficiency, and low latency
- Deliver a user-friendly experience using elements like step-by-step guides, FAQs, and tooltips
- Explore areas such as flash loans, yield farming, and staking with Scallop's technology
- Undergo rigorous testing phases, including but not limited to security audits, performance tests, and user-acceptance tests
- Provide a live demonstration on a testnet before the final deployment
If you have any questions about the hackathon, you can join and ask in the hackathon Slack workspace.
The Sui Foundation will use the liquid staking tokens obtained from each liquid staking protocol to further support Sui’s DeFi ecosystem by distributing these tokens to other eligible ecosystem protocols. The exact process of distribution and qualifications for receipt of such liquid staking tokens will be announced at a future date. ↩︎