IOV Labs, Covalent Holds #OneMillionWallets Hackathon With Participants From Europe to Asia

by Fanboy SEO · Published October 28, 2021 · Updated October 28, 2021

Information technology services firm IOV Labs and computer software company Covalent have successfully concluded the #OneMillionWallets hackathon, a crypto-wallet design competition that empowers developers to build RSK-based digital asset wallets powered by the Covalent API. The event, which ran from September 29 to October 15, garnered 400+ participants from the Middle East, Spain, France, Ukraine, Vietnam, the Philippines. Covalent and RSK received 100+ templated challenge submissions by non-developers and 10+ production-level hackathon submissions.

RSK, Covalent, and their event sponsors selected four winners, namely:

RSBank by @akbaridria#6908
RootVerse by @drnutsu#4470
RSK Stablecoins Analytics Dashboard by @isonar#5236
Metabase Dashboards for Liquidity Pool Data

RSBank is a graph dashboard that tracks the list of transactions that happen in Money On Chain, RSK Token Bridge, and Sovryn Bridge. RootVerse, on the other hand, is a playable dashboard where users can decorate their lands, watch their farming annual percentage yield growing together, and check their APY reward and balance.

RSK Stablecoins Analytics Dashboard is a site that tracks trading pairs including the RSK Smart Bitcoin, while Metabase Dashboards for Liquidity Pool Data is also a site that tracks RSK mainnet data.

The RSK Foundation provided $15,000 worth of bounties for the hackathon and community challenges. Event partners Sovryn, Money on Chain, Tropykus, BabelFish Money, and Transfero each provided $2,000 worth of prizes. The hackathon winners evenly shared a $12,000 USDT prize pool, while the rest of the bounties were given to winners of the event’s mini-challenges.

According to Brendan Graetz, head of developer experience at IOV Labs, Covalent was able to integrate with the RSK network in record time prior to the launch of the #OneMillionWallets hackathon, speaking to the power of the cross-chain compatibility between RSK and other networks integrated by Covalent.

“RSK was stoked that Covalent opened up a replica of their internal database for participants from Europe to Asia, as this enables low-level access to their data, which enables novel use cases like creating new API endpoints. This is of particular interest to DeFi protocols, NFT marketplaces, and we hope that these other use cases build custom APIs that are specific to their DApps,” Graetz added.

Aside from the hackathon itself, the event was also composed of workshops from RSK and Covalent, as well as partner presentations from Money on Chain, Sovryn, Transfero, and BabelFish. #OneMillionWallets consisted of mini-events such as community wallet challenges, wallet quests, NFT art challenges, and daily quizzes, all of which were presented in the languages of the participating regions to properly introduce participants to both the Covalent and RSK tools and ecosystem and boost engagement.

The recent hackathon is the third in Covalent’s series of #OneMillionWallets competitions in 2021, the second one of which was held in June while the first was held in April. This is the first #OneMillionWallets event that was introduced to different regions in their local languages. This move was to ensure that the challenges were understandable to all the participants, resulting in an increase in participation.

IOV Labs is currently expanding in emerging markets across the world to support mass cryptocurrency adoption given the economic climate brought on by the COVID-19 pandemic. Through both its standalone events and collaborations, the company hopes to widen the reach of the RSK platform and promote the hundreds of benefits that it could bring to the world. IOV Labs provides updates about its events and partnerships in the RSK platform’s Facebook page set in Filipino, Vietnamese, and Bahasa Indonesia, and on its Telegram channel set in Filipino, Vietnamese, and Bahasa Indonesia as well.

ABOUT IOV LABS

IOV Labs believes in developing low-cost, high-quality, easy-to-use platforms for all people, in order to help democratize knowledge and strengthen financial equality.

For example, by leveraging the benefits of Bitcoin, the web’s most secure and reliable financial network, they give everyone the tools needed to create and grow value.

They achieve this with platforms like RSK, the first open-source smart contract platform, which allows businesses to easily scale and secure operations with the use of blockchain technology.

For more information about IOV Labs, visit the official website here: https://www.iovlabs.org/

For more information about the RSK platform, see here: https://www.rsk.co/