We are proposing Lido Participation at The first edition of BUILDATHON, a 12-weeks program working with FENASBAC (Brazilian Central Bank Officials) to explore how web3 can interact with the new Brazilian financial system currently under development.
Working with FENASBAC (Central Bank Officials), we bring a hybrid event starting in August 2023. It includes Builder Bootcamps, Sponsor Workshops, a 2 weeks of Hacking 1-13 September.
Judging, prizes & pre-accelerator announcements will be at Blockchain Rio 12-14 September and online.
The pre-accelerator will be hybrid from 15 Sept to 30 Oct, culminating in the DIGIFI Launchpad on 31 Oct.
“Hybrid”? Builders and sponsor teams can participate online or in a hybrid format at our Build Sites, run by local mentors and facilitated by DIGIFI Ambassadors. This gives flexibility to everyone, with plenty of time for learning and research.
Goal:
Bring together web3 Devs, web2 Devs, students & graduates from women & social programs and non-devs: business, product, design Students & professionals to build on their CBDC project - fully legalised and currently piloting. We want protocols to provide training and prizes to global builders to build ERC20 based digital currency used by many more beyond the >230MM Brazilians.
The Hybrid Buildathon aligns perfectly with the Central Bank of Brazil’s request for assistance in integrating web3 tech and developing CBDC infrastructure. By bringing together top web3 developers and sponsors, we aim to create innovative solutions that extend beyond the pilot phase, benefiting more than 230 million Brazilians. The opportunity to collaborate with the Brazilian central bank opens up immense potential for Lido, particularly in the retail sector. Furthermore, showcasing the successful adoption of crypto in day-to-day transactions will serve as a powerful example for other governments, thus strengthening Lido global position.
Milestones/TimeLine:
• 14-31 Aug | Workshops
Sponsors & Digifi team prepare hackers w/ IRL mentoring @ Build Sites around Brazil
• 1-12 Sept | Hackathon*
• 12-14 Sept | Presentations & Judging Starts
During Blockchain Festival Rio (or Online)
• 22 Sept | Hackathon Winners Announced
• 26 Sept - 30 Oct | Pre-Accelerator*
For Hackathon winners + other select project
The tracks of the Buildathon
Scaling the Digital Real
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Interoperability 1: how the digital real can be used in traditional finance
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Interoperability 2: how the digital real can connect to the Defi ecosystem
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Public transparency, governance & accountability
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Privacy solutions for the Digital Real
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Tokenization and digital assets solutions for Brazil
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Freestyle: How to build a permissionless Digital Real
Who we are/About the team:
Digifi(https://www.digifi.com.br/) Buildathon is a collaboration between Ethereum Brasil and BlockChain Festival, and has a mission of educating and training diverse communities in Brazil and beyond in decentralised and emerging tech through cross-industry collaboration, creating jobs, projects and tech solutions that have a net positive effect.
Why to be involved
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Align your brand with a unique, forward-thinking project with real social impact in Brazil.
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Grow your community: Get the best Brazilian talent building with your protocol
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Unique Networking & BD opportunities: Easily partner with the Top Brazilian financial institutions and FinTechs.
The Hybrid Buildathon aligns perfectly with the Central Bank of Brazil’s request for assistance in integrating web3 tech and developing CBDC infrastructure. By bringing together top web3 developers and sponsors, we aim to create innovative solutions that extend beyond the pilot phase, benefiting more than 230 million Brazilians. The opportunity to collaborate with the Brazilian central bank opens up immense potential for Lido DAO, particularly in the retail sector. Furthermore, showcasing the successful adoption of crypto in day-to-day transactions will serve as a powerful example for other governments, thus strengthening Lido DAO’s global position.
The integration of a savings/earn feature natively within the wallet app used for digital Real presents a unique value proposition for Lido DAO. By enabling users to enter an earn program with their Real deposits. This approach abstracts the entire ETH part from depositors while allowing them to earn through staking. The complexity of the strategies involved, such as recursive loops with lending markets, further enhances the potential returns for users.
This initiative holds significant potential for Lido DAO to enter the Brazilian market and attract a substantial inflow of retail users. By providing a user-friendly and innovative savings/earn feature, Lido DAO can position itself as a pioneer in the Brazilian crypto landscape. Additionally, the success of this project can serve as a powerful case study for Lido DAO to demonstrate how crypto can be adopted and utilised in daily transactions, further solidifying its reputation and attracting potential institutional partnerships.
Upon the successful implementation of the savings/earn feature and the overall Hybrid Buildathon program, we envision a continued collaboration with Lido DAO to expand the web3 ecosystem in Brazil. We plan to host similar events in the future, targeting different aspects of the crypto space and inviting participation from global builders and sponsors. By nurturing the Brazilian crypto community through ongoing educational initiatives, hackathons, and networking events, we aim to create a vibrant and sustainable ecosystem that benefits both Lido DAO and the broader crypto community.
Example of stETH expansion next steps to drive stETH adoption and integration in the Brazilian market:
a) Market Research and Feasibility Study: We will conduct an in-depth market research and feasibility study to assess the current demand for stETH and identify potential use cases and strategic partners in the Brazilian crypto landscape. Understanding the needs and preferences of the target audience will enable us to tailor our approach and maximise stETH’s impact in Brazil.
b) Partnership Development: Building strong partnerships with local financial institutions and crypto exchanges will be a key strategy to facilitate stETH adoption. Collaborating with established players in the Brazilian market will not only enhance the credibility of stETH but also provide a more accessible gateway for users to convert between Real and stETH seamlessly.
c) Education and Outreach: We recognize the significance of educating the Brazilian community about the benefits and opportunities that stETH offers. To achieve this, we will organise educational workshops, webinars, and content creation initiatives targeting retail users, developers, and potential institutional partners. This proactive approach will help demystify stETH and empower users to make informed decisions.
d) User-Friendly Integration: We aim to develop a user-friendly interface for stETH integration within popular wallets and crypto platforms used in Brazil. This integration will make it convenient for users to convert their Real to stETH and vice versa, further promoting its widespread usage.
e) Community Engagement: Fostering an active and engaged community around stETH will be essential for its long-term success. To achieve this, we will establish communication channels, social media groups, and forums to encourage discussions, provide support, and address user inquiries.
Direct developers to work on the stETH utility with real on the hackathon
Encourage developers to explore stETH utility with Real: During the hackathon, we can provide targeted workshops and mentoring sessions to guide developers in understanding and leveraging stETH’s unique utility with Real. This could involve introducing concepts like yield farming with stETH, exploring DeFi lending and borrowing opportunities, or even creating innovative financial instruments that utilise stETH as collateral. By encouraging developers to work on stETH-related projects, we can showcase its potential as a valuable financial tool and contribute to its adoption in the Brazilian market
Collaborate with Lido DAO experts: To enhance the hackathon experience, we can collaborate with Lido DAO experts and developers who are well-versed in stETH and its functionalities. Their expertise and insights can be shared through webinars, panels, and Q&A sessions, empowering participants with a deeper understanding of stETH’s utility and its implications within the broader DeFi ecosystem.
Partner with local financial institutions: In addition to the hackathon, we can proactively engage with local financial institutions and demonstrate how stETH can be integrated into their existing systems to enhance liquidity and yield opportunities for their clients. By fostering partnerships with traditional financial players, we can accelerate stETH’s adoption and highlight its potential benefits in real-world use cases.
Introduce stETH bounties and rewards: To further incentivize developers to focus on stETH utility, we can introduce specific bounties and rewards for outstanding stETH-related projects. By offering attractive prizes for the most innovative and impactful solutions, we can inspire developers to think creatively and drive meaningful advancements in stETH integration with Real.
Leverage media and marketing channels: Utilising our marketing resources, we can spotlight the significance of stETH’s utility and its potential impact on the Brazilian crypto landscape. Through social media, press releases, and targeted campaigns, we can reach a wider audience, attracting more participants and sponsors, and creating a buzz around stETH’s applications during the hackathon.
Ideas to establish a strong and lasting relationship with the Brazilian Central Bank and ensure continued collaboration with Lido after the hackathon:
- Post-Hackathon Report: Prepare a comprehensive post-hackathon report that highlights the achievements, outcomes, and innovations generated during the event. Include specific projects related to the Central Bank’s CBDC infrastructure and how Lido’s contributions align with their objectives. This report can showcase the value Lido brings to the table and the potential impact of further collaboration.
- Official Thank You Letter: Send an official thank-you letter to the Brazilian Central Bank expressing gratitude for their support and participation in the hackathon. Emphasize the successful outcomes and the potential of continued collaboration in advancing their CBDC initiatives.
- Invitation to Present Findings: Extend an invitation to the Brazilian Central Bank officials to present the hackathon’s findings and innovative solutions related to their CBDC project. This presentation can provide a detailed overview of how Lido’s contributions can be integrated into the existing infrastructure, demonstrating the practical applications of stETH and other relevant technologies.
- Follow-up Meeting: Request a follow-up meeting with key representatives from the Brazilian Central Bank to discuss the potential for future partnerships and projects. Present a roadmap of how Lido envisions working together to advance their CBDC goals, highlighting specific areas where Lido’s expertise and technology can be of mutual benefit.
- Regulatory Compliance Assurance: Assure the Central Bank of Lido’s commitment to adhering to regulatory compliance and best practices. Offer to provide documentation and explanations on how Lido’s protocols and solutions align with the Central Bank’s regulatory requirements, ensuring a secure and compliant partnership.
- Collaborative Workshops and Training: Offer to conduct specialized workshops and training sessions for the Central Bank’s team to enhance their understanding of DeFi, blockchain technology, and stETH. By empowering them with relevant knowledge, Lido can demonstrate its dedication to long-term collaboration and foster mutual growth.
- Policy Whitepapers: Prepare informative whitepapers that outline the benefits and potential implications of adopting stETH and decentralized finance within the Brazilian financial ecosystem. These whitepapers can serve as a valuable resource for the Central Bank to make informed decisions and assess the impact of their collaboration with Lido.
- Participation in Central Bank Events: Actively participate in events organised or sponsored by the Central Bank, showcasing Lido’s expertise and sharing insights on the future of digital assets and decentralized finance. By becoming a trusted partner in these engagements, Lido can reinforce its commitment to supporting the Central Bank’s initiatives.
Conclusion:
Ethereum Brasil is dedicated to fostering the growth of the web3 ecosystem in Brazil. We believe that by collaborating with Lido DAO and integrating a savings/earn feature for the digital Real, we can not only meet the objectives set forth by the Central Bank of Brazil but also establish Lido DAO as a prominent player in the Brazilian market. We sincerely hope that Lido DAO recognizes the immense value of this proposal and supports us in our mission to drive crypto adoption and innovation in Brazil.
Thank you for considering our grant proposal. We are eager to discuss this opportunity further and provide any additional information required.