BNB Chain has just announced its collaboration with the DeFi protocol UpTop and the AI health technology platform Bitring to accompany the hackathon event series BNB Hack, expanding the exploration of advanced technology.
The participation of UpTop and Bitring brings new bounty challenges for developers, promoting the development of solutions in AI, DeSoc, DeSci, and DePIN on the BNB Chain platform.
MAIN CONTENT
UpTop introduces the staking mechanism with temporary loss protection, launching an 8,000 USD bounty challenge.
Bitring provides 10 Genesis smart rings as rewards for developing AI nutritional analysis worth 1,199 USD each.
BNB Hack attracts hundreds of global project teams, many projects have launched and received investment, continuing to be advised and supported.
How has BNB Chain expanded its new partners in the BNB Hack event?
The collaboration with UpTop and Bitring marks an important step in expanding the BNB Chain ecosystem, helping to diversify the fields of blockchain technology development. Mr. Changpeng Zhao, CEO of BNB Chain, emphasized that this is an opportunity to enhance creative capacity, especially in the fields of AI and DeFi.
UpTop and Bitring not only play the role of sponsors but also create unique bounty challenges, encouraging developers to harness the potential of new technology on BNB Chain. This attracts the attention of the global cryptocurrency development community, enhancing the prestige and appeal of the event.
What is UpTop and what do they contribute to BNB Hack?
UpTop is a decentralized liquidity protocol built on BNB Chain, supporting users through a one-way BNB staking mechanism along with temporary loss protection (IL protection). Mr. David Lee, the founder of UpTop, shared that the 8,000 USD challenge was created to encourage developers to expand smart contracts and improve governance systems for the new generation of Liquidity Pools.
With the goal of minimizing barriers for DeFi users, UpTop helps traders easily participate in staking and protect their capital. Improvements in the bounty challenge will promote diverse liquidity solutions, suitable for the current dynamic market needs, thereby enhancing efficiency and safety for investors.
Details about the staking mechanism and IL protection of UpTop
The one-way staking mechanism on BNB Chain allows users to easily participate without complex operations. IL protection helps minimize the risk of temporary losses due to price fluctuations in the liquidity pool. This is a strong attraction for DeFi investors who want effective capital protection.
What are the outstanding features of Bitring and the AI health technology platform in BNB Hack?
Bitring develops smart ring products made of 999 gold combined with biometric AI, 24/7 health data analysis, and an on-chain insurance system. Mr. Tom Nguyen, CEO of Bitring, stated that 10 Genesis rings worth 1,199 USD each are awarded as rewards to encourage the construction of AI modules focusing on nutritional analysis and meal planning.
The integration of AI technology and smart contracts on blockchain not only helps protect health data safely but also opens up new application opportunities to enrich the fields of DeSci and DeSoc – strong development trends in 2024.
"The combination of AI and blockchain in health applications will create a new future for the fields of DeFi and DeSci, expanding multidimensional development opportunities."
Tom Nguyen, CEO of Bitring, 05/2024
What are the outstanding activities and achievements of BNB Hack since the beginning of the event?
BNB Hack has attracted over a hundred global project teams such as Tokrio, Stitch AI, PlayAI, BINK AI, many of which have successfully launched or received significant funding. So far, 37 projects are still receiving support from ecosystem advisors to complete and continue development.
According to the official report, the event recorded a high level of active and diverse participation, contributing to promoting innovation in the fields of DeFi, AI, and blockchain. The organizers also expressed gratitude to long-term partners such as APRO, Solidus AI Tech, ASI Alliance, Netmind, USDX, and Unibase for their support in sustainable development.
"BNB Hack is the perfect platform to connect and develop the global blockchain creative community, creating breakthrough solutions for the future."
Changpeng Zhao, CEO of BNB Chain, 04/2024
Who are the main partners of BNB Chain in the BNB Hack event?
In addition to UpTop and Bitring, BNB Chain also collaborates with stable partners such as APRO, Solidus AI Tech, ASI Alliance, Netmind, USDX, and Unibase. These partners play advisory roles, providing supporting technology and promoting innovation within the BNB Chain ecosystem.
This coordination ensures that projects receive the necessary resources from the idea stage to practical implementation, minimizing risks and increasing the chances of success when entering the fiercely competitive cryptocurrency market.
Comparison table of the outstanding characteristics of UpTop and Bitring in BNB Hack
Characteristics UpTop Bitring Platform Type DeFi liquidity protocol on BNB Chain AI health technology platform, smart rings Support Program 8,000 USD bounty challenge for contract development and governance 10 Genesis rings worth 1,199 USD each as AI development rewards Outstanding Technology One-way staking mechanism, temporary loss protection (IL protection) Biometric AI, nutritional analysis, insurance smart contracts Development Goals Promote a new generation of liquidity pools, enhance DeFi experience Develop AI health applications integrated with blockchain, DeSci, and DeSoc
Frequently Asked Questions
What is BNB Hack and what is the purpose of this event? BNB Hack is a hackathon event organized by BNB Chain to promote innovation, exploring blockchain technology combined with AI, DeFi, and related fields. What outstanding solutions does UpTop provide for developers? UpTop offers a simple staking mechanism with temporary loss protection to reduce risk, while launching an 8,000 USD bounty to support smart contract development and governance. What technology product does Bitring develop in BNB Hack? Bitring provides 999 gold smart rings integrated with 24/7 health AI and on-chain insurance, encouraging the development of nutritional analysis modules. How many projects have participated and received support at BNB Hack? Over 100 global teams have participated, with 37 projects being advised and supported in seeking opportunities for future awards. Who are the long-term partners supporting BNB Hack? APRO, Solidus AI Tech, ASI Alliance, Netmind, USDX, and Unibase are active partners accompanying the development and support of the event.
Source: https://tintucbitcoin.com/uptop-bitring-dong-tai-tro-bnb-hack/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news in the cryptocurrency market and not miss any important information!
