A few weeks ago in Buenos Aires @EFDevcon we ran the first ever @RaylsLabs hackathon. Without a doubt a huge success that lays the foundation of our app ecosystem for our mainnet launch in the New Year. Here's a breakdown of how the event went down and the winners. 🧵👇

Firstly, we had an @epicweb3 venue in @HITCowork. People arrived for our briefing, got some ☕️, and started hacking 💻

The whole point of the first @RaylsLabs hackathon was to get teams building on our infrastructure in line with our vision of merging TradFi and DeFi. Therefore, myself and a few others on the @RaylsLabs team stayed throughout mentoring teams towards ideas that were most likely to win. The energy for our growing brand was humbling to see, even if it was largely for the prize money 😉💰 x.com/mcvviriato/status/1991…

Anyway, fast forward about 30 hours after the briefing and we had over 20 entries from around 50 hackers! Much more than my personal goal of 10 entries... Every team then had the opportunity for a 5 min pitch and 5 min of questions in front of the judges from the @RaylsLabs team.

We scored each team based on: 1. Quality of prototype 2. Problem statement 3. Long-term vision statement 4. Business model 5. Alignment with Rayls vision Now I'll get onto the final results in reverse order...

In joint 4th place we had Fountain from @olivmath_ & @belluzzojr 🏅. An API/SDK that lets tokenisation providers create real-backed stablecoins. They won $2k split between $RLS and stables🤝. github.com/olivmath/fountain (This one went down particularly well with our Brazilian co-founders @mcvviriato & @x10xalex 🇧🇷.)

Another in joint 4th place was AeroFi from @mbcse50 🏅. A DeFi prediction market for flight delays and cancellations. Also winning $2k split between $RLS and stables🤝. github.com/mbcse/aerofi

In joint 3rd place we had Nexus Finance from @lajos_deme & @aloksahay 🥉. A particularly ambitious product that aims to be the institutional gateway between TradFi and DeFi, where treasury managers, family offices, and institutional funds execute $10M+ trades with the same confidence they have in traditional markets: solving the problems of slippage and MEV attacks for institutional traders. Winning $4k split between $RLS and stables 🤝. github.com/lajosdeme/nexus

Another in joint 3rd place was Ethereum Trust Anchor from @FrankyEjezie 🥉. A personal favourite of mine that bridges the Rayls L1 to Ethereum Mainnet with cryptographic state commitments for trustless security 🔐🦾. Also winning $4k split between $RLS and stables 🤝. github.com/FrankiePower/rayl…

Another in joint 3rd place was Credentia from @skel_luka and team 🥉. A modular KYC platform (framework) for institutional-grade KYC compliance. A project particularly important in the TradFi to DeFi space that directly aligns with the @RaylsLabs vision. Winning $4k split between $RLS and stables 🤝. github.com/505labs/credentia…

2nd place went to Rayls Shield from @carlos_israelj and team🥈. A ZK privacy solution that solves the fundamental conflict between financial privacy and regulatory compliance, enabling institutions to adopt blockchain without legal risk while preserving individual privacy rights. They won $4k split between $RLS and stables. (This was the same as the 3rd placers due to us noticing some irregularities in their original code after the initial prize ceremony that we then cleared up with the team. We take the coding part seriously!) github.com/Abenavidese/rayls…

Which brings us, finally, to our 1st place winner in Praxos from @Chromery_ and team 🥇! A standout project that is an item almost straight from the Rayls roadmap in practical Real World Asset (RWA) vaults for compliant, diversified yield. Winning $12k split between stables and $RLS 🤝 🏆. github.com/mollybeach/praxos