Hi everyone, Kyber is one of the sponsors for the ETH Singapore hackathon, ASEAN’s first Ethereum hackathon, happening from December 7th — 9th!

ETHSanFrancisco was a blast, where we were one of the most integrated protocols in the hackathon. There were a number of projects that built with Kyber’s protocol, where hackers explored how they could use our API for innovative use cases, such as allowing mining rewards to be divided and paid in the members’ preferred ERC20 token, to enabling short selling to a custom portfolio of ETH and ERC20 tokens. We’re excited to see what hackers can come up with this time round for ETH Singapore!

What is Kyber Network?

Kyber is a fully on-chain liquidity protocol that powers decentralized token swaps for wallets, applications and platforms. There are 4 major areas where developers are leveraging the protocol (we are excited for you to discover other areas and tell us more!)

1. End User Token Swaps

If you are developing a wallet or interested in developing a token swap, you can easily use Kyber to enable your users to easily swap from any ERC20 token to another, including ETH. You can see Kyber’s token swap functionality in popular wallets like MyEtherWallet and imToken, and on websites such as KyberSwap and Easwap.

2. Trading Integrations

Exchanges (both centralised and decentralised), traders and arbitrage bots can all leverage the liquidity offered on Kyber to match orders, or to arbitrage for profit. You can do this either through our recently announced Trading APIs or by directly interacting with our smart contracts.

One project that did this during ETHSanFrancisco was dArbitrage, where Hammad created an iOS app to arbitrage between Kyber and Bancor.

3. Decentralized Payments

Any vendor or non-fungible token (NFT) provider that accepts crypto payments can leverage Kyber’s protocol to significantly widen their payment options by accepting a large range of ERC20 tokens, whilst receiving the currency of their choice like DAI, TUSD and Ether. Examples include Etheremon, Peepeth, or any vendor that wants to accept crypto.

4. Decentralized Finance

Kyber significantly reduces barriers towards developing complicated financial DApps that require on-chain price feeds and instant fund rebalancing, as seen in Betoken, bZx and Melonport.

#BUIDLwithKyber and Win

The aforementioned areas are the common ones we support, but there are many other potential use cases that our liquidity protocol can enable.

We have 2 reward categories where you can showcase your creativity, with a total of $14,000 SGD worth of KNC tokens up for grabs! Submissions to both categories are allowed.

Kyber’s Developer Portal provides all the necessary documentation to get started.

Category 1: Themed Bounties

For each submission, stand to win either $1000 or $2000 SGD worth of KNC tokens if you work on any of the themed bounties below.

$1000 SGD Bounties

1) Set Protocol Issuance Relayer

Set Protocol is a platform to create, manage and obtain a basket of tokenized assets.

Build an issuance relayer for Sets that tap on liquidity provided from Kyber’s reserves and possibly from other liquidity providers like 0x. This enables users to obtain competitive prices for their Set, while also providing savvy market takers with arbitrage opportunities.

2) Simple Swap Interface on IPFS

Create a static website hosted on IPFS that interacts directly with Kyber’s smart contracts via Infura. In other words, the website will be a barebones but intuitive interface that allows any user (especially those new to the cryptocurrency space) to easily swap between different ERC20 tokens including Ether.

3) Collateral Liquidation On-Chain

Lending platforms such as ETHLend, Dharma and Bloqboard allow for ERC20 tokens to be used as collateral. In the event of a loan default, the lender keeps the collateral. Currently, he would have to actively liquidate it to the token of his choice. With Kyber, this liquidation can be done seamlessly.

Using Kyber’s protocol, develop any type of application that incorporates collateral liquidation on-chain.

4) Integration with MakerDAO’s Collateralized Debt Position (CDP)

The creation of a CDP requires ETH, while its closing requires DAI and MKR tokens respectively. Furthermore, the creation and closing process is rather tedious and complicated, where one has to understand the mechanism well.

Use Kyber’s protocol to simplify the process to make it user-friendly and easy to execute in a single step.

Allow a creation of a CDP with ERC20 tokens. Use Kyber’s protocol to exchange the ERC20 token for ETH, and then ETH to PETH from Maker. For the closing of a CDP with ERC20 tokens, exchange those tokens to DAI and MKR tokens.

This can be coupled with other functionalities as well. For example, CryptoPay, one of the finalists for ETH San Francisco, created a “Pay by Loan” feature, where users could make payments with DAI obtained from the creation of a CDP.

5) Arbitrage Programs

Prices on and off chain are not always the same across different price discovery venues. Make a DApp that takes advantage of market inefficiencies between Kyber and another venue / platform and buy low and sell high! Take the bounty, keep the profit!

Ethereum allows for a contract to execute a trade only if some conditions exist. So if there is a common ERC20 token between Kyber and another on-chain price discovery venue, and it happens that the buy price on the other is smaller than the sell price on Kyber or vice versa, the contract can execute the trade for an instant and risk-free profit.

While such DApps are already existing (take a look at past trades on Kyber!), building something like this earns you a bounty, instant and measurable and consistent profit from the trade proceedings and whilst ensuring price equilibrium across the market. Triple Win!

Using Kyber’s protocol, develop any type of application that takes advantage of market inefficiencies between Kyber and another venue / platform.

$2000 SGD Bounties

6) Advanced Trading Orders

Consider allowing for more complex trade orders (stop loss orders, trailing loss orders, loop orders etc.) to be executed using Kyber. For example, a user can create and sign a limit order.

Build an application to collate these orders, and execute them on Kyber when the price reaches the desired limit.

7) Historical Data Tool

Create an interface or API where users can query historical price and volume trade data of the different tokens supported on Kyber. This data should be cached to quicken access by 3rd party applications who require such data.

For price data, the easier option is to include an old block number into a web3 query, collate the information and present it using Tradeview or similar tools.

8) Off-Chain Virtual Orderbook Relayer

One strong advantage of Kyber is that liquidity is already on-chain (tokens and prices are already on the smart contract). Anyone can query the Kyber contract for the expect buy and sell rate, such as 1 or 2 ETH equivalent amount of a token. One can then reconstruct an orderbook with orders extracted from Kyber’s liquidity pool. For greater accuracy, consider querying rates from individual reserve contracts instead of Kyber’s contract. In any case, let us denote orders extracted from Kyber as on-chain orders.

It would be cool to build a relayer that can combine both 0x’s and Kyber’s model: there are always on-chain orders relayed from Kyber and users can also create new off-chain orders should they wish to sell/buy at a different price. What’s really interesting is how the settlement occurs between a new on-chain order with an existing off-chain order, since it may require interactions between both Kyber and 0x smart contracts.

Using Kyber’s protocol, develop any type of relayer application that combines both 0x’s and Kyber’s model.

Category 2: Open Category Grand Prize

If you have an idea that are better than the ones we proposed, feel free to work on it! Dig into our tech, use it in a cool way and surprise us!

Should you work on your own unique project that integrates our protocol, you stand to win a higher amount of $3,000 SGD worth of KNC tokens. This API prize is officially supported by ETHSingapore, and the winner will be announced on stage at the end of the hackathon.

For more detailed information on the Kyber Bounties, please click here.

To start building with Kyber, check out our Kyber Developer Portal for all the necessary documentation.

Come say Hi to us!

We will have a booth set up during the event, so drop by to meet us! A number of us will be around to assist with any questions you may have. Additionally, you may join our developer group on Telegram!

We are also running a pre-ETHSingapore community meetup one day before the event, together with MakerDAO, Set Protocol and Status.