Updates from Hashstack’s first community connect
Past Friday, Hashstack had an opportunity to interact with some of its community members over Google meet. This brief, fun-filled interaction was filled with product updates, capturing early feedback, & of-course the giveaways.
First things first,
what is community connect?
Community connect is a weekly, or bi-weekly f2f interaction between Hashstack & members from its community. Through this interaction, Hashstack shares snippets of the products under development, capture early feedback thereby course correct while a product is still in development.
In the first community connect, we had an opportunity to discuss Open protocol- world’s first under-collateralised defi lending protocol built by Hashstack.
Below are some of the highlights.
- Demonstrated the working flow of Open protocol for deposits & borrowing.
- Broke down the product to briefly covered the what and how, that is, the implementation of Open protocol.
- Hashstack is working on the token distribution plans. It however wants to ensure a working product in the market.
- This week, Hashstack is on track to launch a bounty program for Open protocol. Details will be announced soon. Bug bounty will diversify our efforts to identify critical bugs.
- We are updating the website landing page, as well as implement v0.1 of web application design standard over a period of 2–2.5 weeks.
- $100 USDC was distributed equally between 10 participants.
How to participate
- Register on this link: https://forms.gle/6ipJJ7CGaWHQWabr9
- Solidity engineer — https://docs.hashstack.finance/openings/solidity-engineer
- Technical writer — https://docs.hashstack.finance/openings/technical-writer
- Front-end developer — https://docs.hashstack.finance/openings/front-end-developer
Hashstack provides autonomous financial products for a borderless economy.
DeFi lending can be 10x better, if only under-collateralised lending is implemented. Open protocol addresses this exact predicament. Open enables under-collateralised lending with 1:3 CDR. Through Hashstack’s Open protocol, a borrower can take a loan upto 3 times their collateral. Meaning, you can borrow $300 against $100 collateral. In perspective, on incumbent lending protocols such as Compound, you can borrow $70 by providing $100 security/collateral. Makes little sense.