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Hack the Horizon – Virtual Hackathon Event
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Hack the Horizon – Virtual Hackathon Event

A few weeks ago, Rupiah Token officially announced its new partnership with Harmony. Together with Harmony, we are now building Rupiah Token on top of Harmony chain which we call HIDR. Through this partnership, we aim to grow the Rupiah Token ecosystem further within the Harmony blockchain network (HRC20).

Harmony is the next generation sharding-based blockchain that is fully scalable, provably secure, and energy-efficient. Harmony addresses the problems of existing blockchains by combining the best research results and engineering practice in an optimally tuned system. As a stablecoin which is backed 1:1 by fiat Indonesian Rupiah, we believe combining our stablecoin features and on/off ramp capabilities with the Harmony blockchain network would yield the best possible results for various use-cases such as in Decentralized Finance (DeFi), Cross-border transactions, and cross-chain infrastructure.

Soon, you will be able to convert your IDRT (ERC20) to HIDR and vice versa simply by using platforms such as https://swoop.exchange/, whereby the IDRT (ERC20) itself is already connected to local on/off ramp platforms such as Pintu mobile app (https://pintu.co.id) and Rupiah Token website (https://rupiahtoken.com/) which enable you to convert the IDR fiat <> IDRT (ERC20) anytime, anywhere, and instantly.

Through the Hack the Horizon event, Harmony and Rupiah Token are seeking for some of the most innovative and beneficial use-cases of HIDR that we can build in this ecosystem. Hack the Horizon is a collaborative, creative, and inclusive cross-chain hackathon focused on building applications that utilize the Horizon Bridge. Its singular aim is to work with Ethereum and Harmony developers to build the most interesting, useful, and innovative applications that take advantage of Ethereum and Harmony’s strengths. The event starts from 17 November 2020 to 17 January 2021. We visionize to build more real-world applications of IDRT on the Harmony chain mainly in the area of DeFi, remittances and on/off ramp solutions, and other relevant projects.

Hackathon Details

So, if you are a team of developers and interested in exploring HIDR potential use-cases, we encourage you to participate in this hackathon event! We are looking for the various applications of HIDR within the following scopes:

  1. Cross-chain Infrastructure: We are focused on bridging Harmony with other layer 1 blockchains. We are looking for developers to build protocols for cross-chain lending, DEX and additional components for the trustless Horizon bridge.
  2. DeFi Showcase:We are looking for developers to build and port finance protocols utilizing our Horizon bridge. Bridge liquidity from Ethereum and demonstrate applications that take advantage of Harmony’s fast finality and low fees.
  3. Fiat Utility: Build integrations that would allow fiat currency holders to access ONE and HRC20 tokens and connect ONE to fiat merchants and users.

Workshops

Harmony is partnering up with BAND for this event. They will be providing support to the participants throughout the event and teach the participants on how to use the relevant network and tools. The participants will be given the invitation to these workshops once registered for the event. The list of judges and mentors can be found in the official announcement here.

Rewards

There will be a total rewards of USD 50,000 which will be distributed with the following details:First Prize (5 winners)

  1. First Winner (5 Winners)
  • $3,000 in ONE Tokens
  • 1 year subscription to Messari Pro worth $360
  • 1 year subscription to The Defiant worth $100
  • .crypto domain from Unstoppable Domains worth $40
  • Coingecko Shirt and Notebook
  • Harmony T-shirt

2. Second Prize (7 winners)

  • $2,000 in ONE Tokens
  • .crypto domain from Unstoppable Domains worth $40
  • Harmony T-shirt

3. Third Prize (10 winners)

  • $1,000 in ONE Tokens
  • .crypto domain from Unstoppable Domains worth $40
  • Harmony T-shirt

4. Band Protocol Partner Prize

  • $3,000

NOTE: The Band Protocol Partner Prize will be awarded $1,500 in BAND and $1,500 in ONE tokens. The criteria for this is “Best use of BandChain on Harmony” and will be a prize awarded by Band and Harmony

Interested to join and learn more about the Hack the Horizon event? We encourage you to check out the details in the following links:

  1. https://gitcoin.co/hackathon/hack-the-horizon/onboard
  2. https://gitcoin.co/issue/harmony-one/hackathon/1/100024063

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