About the challenge
In an increasingly digital world, blockchain technology is poised to revolutionize how we transact, interact, and build economies. The Mento Innovate: cKES Hackathon 2024 is designed to tap into this potential by encouraging the development of innovative applications using the Celo Kenya Shilling (cKES), a stablecoin pegged to the Kenyan Shilling. This event is a strategic initiative by Mento Labs to boost the adoption of cKES and demonstrate its utility in driving financial inclusion and economic growth in Kenya.
The vision of the Hackathon is to create a vibrant ecosystem of developers, entrepreneurs, and innovators who are empowered to build solutions that address Kenya's unique challenges while promoting the use of cKES in everyday transactions.
Goals:
Innovation: To inspire creative and impactful solutions that leverage the stability and accessibility of cKES.
Adoption: To increase the adoption of cKES by creating real-world use cases that demonstrate its value.
Community Building: To foster a community of blockchain enthusiasts and innovators who can continue to contribute to Kenya's digital transformation.
Education: To educate participants and the broader community about the benefits and applications of blockchain technology and stablecoins like cKES.
Key Themes: The Hackathon will focus on several key themes, including:
Seamless Access: Innovating On and Offramps with cKES
- Develop user-friendly and secure on and offramps that make it easy for people to convert between cKES and traditional currencies, expanding accessibility and adoption.
Next-Gen Wallets: Empowering Users with cKES
- Create cutting-edge wallet solutions that offer secure storage, seamless transactions, and intuitive interfaces for managing cKES and other digital assets.
Decentralized Finance: Revolutionizing Trade with cKES DEXs
- Build decentralized exchanges (DEXs) that enable efficient and secure trading of cKES, fostering a more robust and liquid digital currency market.
Cross-Border Solutions: Enabling Global Payments with cKES
- Design cross-border payment systems that leverage cKES for fast, low-cost, and secure international transactions, driving global financial inclusion.
Bridging TradFi and DeFi: Integrating cKES into the Financial Ecosystem
- Develop solutions that integrate cKES into traditional financial (TradFi) and decentralized finance (DeFi) systems, enabling seamless interactions between the two worlds.
Microtransactions and Beyond: Unlocking the Power of cKES
- Create platforms that utilize cKES for microtransactions, enabling new business models and services that cater to low-value, high-volume transactions.
Automated Market Making: Innovating with cKES DEXs
- Build automated market-making (AMM) protocols for DEXs that ensure continuous liquidity for cKES, enabling efficient and decentralized trading.
Merchant Adoption: Enabling Businesses with cKES
- Develop tools and platforms that facilitate the adoption of cKES by merchants, making it easier for businesses to accept digital payments and expand their customer base.
