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We’re thrilled to announce the Credmark Uniswap v3 Hackathon.
The aim of this hackathon is to create the best in class model for providing liquidity on Uniswap v3. The best performing model will be included in our API endpoints, SmartPool Product, and will receive follow-on rewards as the model is used.
You can read more about SmartPool here: https://blog.credmark.com/smartpool-data-and-analysis-524376348718
And about our research into Uniswap v3 here:
The contest starts September 22nd 12PM CST/17:00 UTC.
Competition details and links will be provided in the coming days. We will update this post AND provide these details in our Discord.
What is Credmark?
Credmark provides high integrity data and brings together data contributors, risk modelers and governance for a transparent and distributed platform. Our aim is to bring institutional financial tools from traditional finance into DeFi to help users make better investment decisions.
Read our whitepaper to learn more about us.
Check our website over here.
Start by joining our discord server over here.
1: When joining our server, please remember to read the #⭐start-here channel and click on the
to get access to all the features in our channel.
2: Click on 💻 emoji if you are a developer.
3: Head to #💻 hackathon-signup to confirm your participation in the hackathon.
And viola! You’re signed up and will receive instructions on the 22nd.
Why are we doing this?
As Credmark becomes a DAO (Decentralized autonomous organization), this modeling hackathon is one of the many steps we’ve taken to build up our community and automate our operations.
This time, data modelers are the beneficiaries. You can build models using data that we have curated. With this hackathon, we hope to showcase themost important pillar of our platform — analysts, data scientists and developers.
With the MEV competition, we proved that if we abstract away the contrivances of blockchain data, we can be inclusive of a much larger data community.Despite being unfamiliar with MEV specifically, our engineer was able to place 3rd out of 50. As far as we’re concerned, this proves our assumption.
If we, as Credmark, can properly identify the risk factors we want to solve for and provide robust testing, developing and governance infrastructure, we’ll have a best-in-class risk modeling platform built by a decentralized community.
This starts with Uniswap v3 LP strategies.
Why Uniswap v3?
In order to generate fees in Uniswap v3, users can become a Liquidity Provider (LPs) by providing liquidity for trades to be done on a pair of cryptocurrencies. Users can provide liquidity across a range of relative prices between the two tokens.
In doing so, LPs expose themselves to an opportunity risk called Impermanent Loss (IL) as the relative price diverges. As such, it takes a deep knowledge of the qualities of the pair of tokens, as well as market timing and relative volume in order to correctly create a position in order to make fees on trades.
At the moment the tooling is insufficient. It’s hard for many users to figure out what ranges, what pairs, what duration they should set in order to balance fees while protecting against Impermanent Loss.
Similarly, there is very little info on what happens if your positions go out of range, and how or if the position should be rebalanced.
We challenge our developer community to create data models in order to generate positions for any pair of cryptocurrencies on Uniswap v3.
Discord Discussion Channels
#🦄cmk-univ3-comp: Discussion regarding Credmark’s Uniswap v3 Hackathon
#feedback: Submit any of your feedbacks over here
#support: Need help with something? Submit your ticket over here.
What is the expected outcome of this?
The results of the model strategy are tested via Credmark’s Backtesting Engine.
The evaluation engine backtests the results with actual swaps and liquidity for test pools and gives the results for metrics such as :
- Fees Earned
- Expected APR
- Impermanent Loss (IL) and
- Cumulative Loss (CL)
- Compare against same time period in Uni v2
On a higher level, given our existing strategies, plus time and volume of developers, we think that we can produce a profitable model for retail users to LP in to Uniswap v3.
What are the prizes?
The top 5 data modelers will win CMK, Credmark’s token. The winning model will be included in our SmartPool product.
Technical details will be revealed closer to the start of the competition.
Prizes will be awarded 2 weeks after the close of the competition, when they are scored against live data and our finalized leaderboard is posted.
All submissions will receive a NFT of their hashed models, to be used to collect their prizes and passive income earned, as well as to enforce our anti-plagiarism policy. As we backtest the models, the best performing model will be included in our API endpoints, and will receive CMK as the model is used by API consumers. (To be determined by Credmark Governance)
On Nov 5th, we’ll run our scoring engine and the highest scorers will get a one time prize of
- 1st place: 20,000 CMK
- 2nd place: 5,000 CMK
- 3rd place: 2,500 CMK
- 4th place: 1,000 CMK
- 5th place: 1,000 CMK
- All participants receive a POAP
- Community Call with focus on Hackathon: September 21 11AM CST/16:00 UTC
- Hackathon Kick-off: September 22 12PM CST/17:00 UTC
- Deadline for Submission: October 22 12PM CST/17:00 UTC
- Judging: 2 weeks of live testing after the submission deadline
- Winners Announced: November 9th
Resources and office hours
All Credmark hackathon participants are invited to join our discord to access the latest shared resources and discussions. A schedule will be provided prior to the start of the hackathon, so please stay tuned for more information.
As we approach September 22nd, we will release more details regarding the competition. Follow us here on Medium and in our discord to stay informed.
All model submissions consent to giving Credmark rights to use the models for any purposes.
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