ErgoHack Results

5 min readJun 24, 2021


1. Raffle: 5K SigUSD

2. SigmaStamp: 2.5K SigUSD

3. ErgoTeam: 1K SigUSD

4. Smartpools: 100 SigUSD

5. ErgoIndex: 100 SigUSD

6. ErgoCharts: 100 SigUSD

All participants have different backgrounds, skillsets, and levels of experience, but all are welcome. I just wanted to remind everyone that each individual starts somewhere and with work focus and commitment can do great things.

I wanted to thank all of the participants in the first ErgoHack event. This was something that Kushti had wanted to put together. It was thrown together pretty quickly, but the end result was a group that proposed and implemented some interesting concepts or ideas.

ErgoHack Schedule 2021

The Ergo team is considering hosting 2 more hackathon events later this year. The rough idea at the moment is September and November. We are considering making these events a little more focused.

ErgoHack September 2021: Tools for social good.

ErgoHack November 2021: Tools for privacy.

I wanted to drop these early and see if we could get community idea incubators started, as well as give future participants ample time to think and prepare potential solutions. Specific details will be released on these events at a later date.

Team Raffle #1

The raffle project is impressive in both how detailed the protocol explanation is and in regards to the design of the protocol itself & contracts.

I have to say personally I was a BIG fan of the graphics demonstrating the contract logic. Documentation is always appreciated, but graphic documentation of a UTXO Multi-Stage contract was really a pleasure. I think most community members could follow the graphics and get a sense of what is occurring.

While it may not be the most complex protocol on earth, the project came up with novel solutions not seen before in the Ergo ecosystem and implements them in a way that adds a lot of value for future developers to learn from as well.

Congratulations Team Raffle!

Notes: From the Judges

+ good introduction and problem description

+ good description of the design of the contract

+ use Appkit for contract prototyping

+ all contracts prototyped to submit transactions using Appkit

+ good potential to finish this project and make it usable

+ front-end and backend prototyped

+ Future work suggestion: would be good to have integration with ErgoDEX to trade Tickets and service tokens

SigmaStamp #2

SigmaStamp offers users something to get their hands on from the hackathon and has a good set of features planned for the future. This submission has some potential and could be a useful tool within the Ergo ecosystem.

Notes: From the Judges

+ front-end prototyped

+ contracts prototyped

+ good potential to finish this project and make it usable

- no description/presentation of the task and solution

- no instructions on how to use the prototype

ErgoTeam #3

ErgoTeam is a great step forward towards allowing end-users to pool funds together that simplifies the process compared to existing solutions.

Governance, in particular of funding/spending, is an essential social need, and I can imagine that ErgoTeam’s approach could have the potential to become a key design pattern for projects that need governance on Ergo.

ErgoTeam’s approach seems to be a reasonably novel and ingenious alternative to achieve collective decision-making. I think the overall concept could have a very bright future.

Notes: From the Judges

+ smart-contract prototyped

+ based on other Ergo tools (assembler, node, explorer)

+ front-end prototyped

+ good idea

- no description/presentation except previously written diverse sources

Team Smartpools #4

Smartpools are an interesting use of NiPoPoWs which hasn’t been thought of before. The write-up could better convey the protocol, but the idea is novel and has future potential.

It would make an interesting research project. I hope this is pursued in the future.

Notes: From the Judges

-novel concept

- idea only submission with research

- no backend/frontend

Team Index #5

I really appreciate what ErgoIndex proposed. Implementation aside, I think ErgoIndex’s idea is very promising (as is any idea of bringing traditional financial products to blockchains).

The youtube video covering their submission was a very nice touch. Personally, I thought that was a very nice touch. Great job TeamIndex!

ErgoIndex does have a website implementation please check out their work.

Bringing traditional financial products to blockchain in a secure way that protects the users is a very complex issue.

Ideally, in a decentralized environment, the assumptions and update parameters need to be very clear, otherwise, users are at the mercy of the protocol masters. We have seen a lot of DeFi rug pulls and issues lately. It is my hope this is an issue that technology will solve to protect investors.

If this general framework could be made in a way that offers a permissionless environment and noncustodial user protection it has the potential to be an extremely valuable dApp.

ErgoIndex funds seem to rely on centralized managers, who have the power to rebalance the portfolio. I think this can be a huge risk, especially when managers are anonymous.

As a user, if I were to buy a fund unit, I would probably prefer if it were not updatable or if its updates were completely algorithmic.

Their website doesn’t make it very clear how more tokens are obtained when a new investor joins the fund.

For example, if a fund’s portfolio includes 10 A-tokens and 20 B-tokens and the fund has 10 units, then when a new investor wants to join and buy 1 new unit, how is the portfolio increased to 11 A-tokens and 22 B-tokens?

Does the new investor need to provide the extra tokens?

Does the fund manager manually buy the tokens and adds them to the portfolio?

I take the time to ask because if some fundamental issues are worked out I could see a future implementation of ErgoIndex being quite successful. It is something that all users in DeFi need to be aware of regarding risk management.

Notes: From the Judges

+ use playground to prototype contract

+ front-end and backend prototyped

- good idea, but the project scope is very large needs refinement for investor protection

- only one contract is prototyped

- other contracts only specified (but no code)

Team ErgoCharts #6

ErgoCharts worked on showing charts for Ergo blockchain analysis and Ergo trading analysis.

Working with exchange APIs is a precursor to getting involved in Oracle Pools. I hope the ErgoChart team sticks around.

Notes: From the Judges

- front-end prototype implemented

- no direct relation to Ergo tools (Node, explorer, Appkit, Playground)

- no contracts

- no description of the problem, solution, design