Punk Protocol, which provides the world’s first decentralized annuity service, partnered with Gitcoin and became a Grants Round 10 hackathon sponsor on June 16. Gitcoin’s hackathon greets the 10th round, and the event will be running from June 16 until July 7, 2021. Punk Protocol has opened five reward bounties worth $35,000 as a core sponsor along with Aave, Uniswap, Polygon, Algorand, The Graph, Reflexer Labs, Perpetual Protocol, Dodo and more.
What is Punk Protocol?
Punk Protocol has launched its first product, Saver, on the Ethereum testnet to achieve its ultimate goal of liberating people from the outdated pension system and empowering them through financial freedom. Saver is a decentralized annuity product configured to produce periodic cash flows using optimal yield strategies.
While pensions are generally used for retirement, Punk Protocol can be viewed as a structured decentralized finance instrument that generates regular passive income with interest as well as prepares funds for retirement. In addition, although pension is typically a long-term basis financial instrument, Saver can be set up according to what users want from the short-term to the long-term by setting when to start receiving, how often to receive, and how many times to receive.
Punk Protocol and Gitcoin hackathon
Gitcoin is the home of Web 3.0 developers — a place for developers to earn and network while building open-source decentralized applications, learn new technologies, and meet like-minded developers.
Through the partnership with Gitcoin, Punk Protocol will invite hackers, builders and creators to begin experimenting and building diverse investment strategies, and expanding to Solana. This is eligible for anyone to participate, and rewards will be awarded to submissions of results that meet the criteria in each project.
- Building a yield strategy for DeFi 401(k).
- Coding a stablecoin yield strategy.
- Integration of Saver to the Solana network.
- Building and coding a Bitcoin (BTC) yield strategy.
- Punk Protocol and Aave yield strategy.
In response to Punk Protocol’s participation, the revenue lead of Gitcoin said:
“The Gitcoin team is excited to have Punk Protocol join us in our first Gitcoin hackathon, supporting Ethereum and the future of Web 3.0 alongside Gitcoin’s Grants Round 10.”
Upon the latest launch of its testnet on the Kovan network, which received a lot of zeal, the team takes a progressive step on the altering market, with this hackathon event commencing that journey.