The Ergo Foundation is proud to announce the approval of a **$24,000 grant** for the **Comprehensive Ergo Mining Ecosystem Development and Community Expansion initiative**. Over the next 12 months, this project will focus on strengthening Ergo's mining infrastructure, promoting decentralization, and empowering the community through education, development, and marketing efforts.

## Key Objectives of the Initiative

### Mining Infrastructure and Community Development

The project will enhance existing mining tools, foster new community-operated pools, and equip miners with resources to thrive in the Ergo ecosystem. These efforts aim to fortify mining infrastructure, increase network resilience, and improve decentralization.

### Community-Driven Development

Equipping miners is a central theme of this initiative. Mining DAO Community members will be able to vote on development priorities and participate in educational programs to learn about Ergo's innovative tools and features.

### Sigma-Rust Python Bindings

Separately, though partially as a result of this proposal, the Ergo Foundation has allocated funds for [bounties to create Python bindings for Sigma-Rust](https://github.com/ergoplatform/sigma-rust/issues/780). The bounty and Python bindings will streamline the overall community development processes and help foster miner-to-developer transitions. 

The bindings will provide a robust alternative to the ergpy library and align with broader ecosystem needs, such as facilitating functional testing for hardware wallets like Ledger. Once the bindings are complete, the team will focus on producing comprehensive documentation, tutorials, and educational content to enable greater community contribution and engagement.

### Treasury Building and Token Distribution

The initiative will fortify a treasury under the Sigmanauts Mining DAO, enabling long-term growth and incentivizing miners to participate in the ecosystem actively.

### Marketing and Community Engagement

Visibility and outreach will include creating high-quality promotional materials to highlight Ergo's mining tools and ecosystem initiatives. These efforts aim to boost Ergo's profile globally while engaging existing and new community members.

## Transparent Progress and Community Updates

The project team will provide regular updates to the community to ensure transparency and accountability. Monthly progress reports and detailed quarterly reviews will highlight:
- Mining pool performance and updates
- Development of new tools and resources
- Engagement in educational programs
- Marketing outcomes and community feedback
- Treasury growth and token distribution impact

## Building on a Strong Foundation

This initiative builds on successful programs like ErgoHack8 and the Sigmanauts, demonstrating Ergo's commitment to fostering innovation and collaboration. By investing in infrastructure and empowering its community, Ergo is well-positioned to lead in the competitive mining landscape.

Stay tuned for updates as we work together to strengthen and expand the Ergo mining ecosystem!


large_ergoBlog_24K_MiningPools_281122024.png

medium_ergoBlog_24K_MiningPools_281122024.png

small_ergoBlog_24K_MiningPools_281122024.png

thumbnail_ergoBlog_24K_MiningPools_281122024.png

ergoBlog_24K_MiningPools_281122024.png

Ergo Foundation Unveils $24,000 Grant to Empower Mining Community

It’s almost time for the next Ergo Platform hackathon! ErgoHacks have become a hallmark of the ecosystem, and they have played an integral role in the growth and development of the blockchain. 

With the deployment of numerous dApps, lending protocols, and Rosen Bridge, Ergo is poised to offer much to the world of decentralized finance. In an effort to continue building a blockchain for everyone, the next ErgoHack will encourage developers to build new mining solutions and enhance the user experience through UI/UX.

## ErgoHack IX Details

ErgoHack IX will take place from Oct. 25-31, 2024 on Ergo’s Discord. Participants who have experience as UI/UX designers, front-end developers, and/or blockchain developers are all encouraged to apply. If you are a mining enthusiast or a student/hobbyist in blockchain tech, you are also welcome to submit an application. 

PRIZES TBC

Special Recognition prizes will be awarded to projects with:
- the best UI/UX design
- most innovative mining solution
- a community choice award

## Participant Objectives and Judging Criteria

All participants are encouraged to build solutions that meet the following objectives:

- **Promote UI/UX Excellence**: The judging committee would like to see the building of user-friendly interfaces for Ergo applications.
- **Innovative Mining Solutions**: How can the mining process be made more efficient and accessible?
- **Collaborative Spirit**: Participants are encouraged to find ways to bring the work of multiple developers and dApp designers together to enhance the overall Ergo ecosystem experience.
- **Education**: There is a need for workshops on the best way to design and implement UI/UX and mining solutions.
- **Community Engagement**: Create a meaningful impact on the Ergo ecosystem community. Projects should look to harness the power of the existing community while also creating ways to engage new participants. 

At the end of ErgoHack IX, the judging committee will award the prizes based on the following criteria:

- User Experience
- Innovation
- Technical Execution
- Presentation
- Community Engagement

If you are interested in participating, please visit the [ErgoHack website](https://ergohack.io/) and fill out an application form there. You can also interact with the Ergo Foundation on [X](https://x.com/ergo_platform?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor), [Discord](https://discord.com/invite/ergo-platform-668903786361651200), and [Telegram](https://t.me/ergoplatform) if you have any questions about the application process. 


large_News_blog_ergohack9.png

medium_News_blog_ergohack9.png

small_News_blog_ergohack9.png

thumbnail_News_blog_ergohack9.png

News_blog_ergohack9.png

ErgoHack IX: Advancing UI/UX Design and Mining Solutions on Ergo

The Ergo Foundation is thrilled to announce the latest step in [its initiative to foster the growth of the Ergo Ecosystem and community-driven projects](https://ergoplatform.org/en/blog/Ergo-Foundation-Announces-New-Initiative-to-Accelerate-Ecosystem-Growth/). As part of this effort, the Foundation has approved a **$12,000 grant** to support **CyberVerse**, an innovative gaming project on the Ergo blockchain. This funding will directly contribute to marketing efforts, community-building initiatives, and long-term engagement within the ecosystem.

## Empowering CyberVerse and Ergo Ecosystem Growth

The CyberVerse grant aims to expand the game's reach and drive user adoption of the Ergo blockchain by supporting key marketing initiatives. These include:
- **Partnering with Content Creators**: Supporting influencers and content creators to showcase CyberVerse across social media platforms, generating organic interest, and attracting new players to the game and the Ergo ecosystem.
- **Community Competitions**: Hosting engaging competitions to foster user-generated content, spark creativity, and incentivize player involvement.
- **Virtual Community Events**: Organizing regular events, such as live streams and tournaments to strengthen community ties and maintain high engagement levels.
- **Professional Marketing Content**: Producing high-quality promotional materials to enhance CyberVerse's visibility and appeal to a broader audience.

This grant not only supports the growth of CyberVerse but also plays a crucial role in introducing new users to the Ergo blockchain, aligning with our mission to foster adoption through innovative and community-driven projects.

## Transparent Reporting and Community Updates

To ensure accountability and transparency, the CyberVerse team will provide regular monthly updates on how the grant funds are being utilized. These updates will be shared with the community, allowing everyone to track the progress and impact of this initiative.

## Looking Ahead

As we continue to support innovative projects like CyberVerse, we are excited about the future of the Ergo ecosystem. By empowering projects that create value and attract users, we believe that Ergo is well-positioned for sustainable growth.

Stay tuned for more updates on CyberVerse’s progress!
- [Telegram](t.me/CyberVersegame)
- [Discord](discord.gg/cyberversegame)


large_Blog 15.png

medium_Blog 15.png

small_Blog 15.png

thumbnail_Blog 15.png

Blog 15.png

Ergo Foundation Announces Grant to Support CyberVerse Marketing and Ecosystem Growth

The Ergo Foundation (EF) is excited to unveil a new strategic initiative aimed at fostering the growth and sustainability of the Ergo Ecosystem. This comprehensive plan focuses on two key areas: funding innovative proposals from projects and the community in a budgeted manner and bringing new members into the Foundation gradually over time.

## Empowering Community-Driven Innovation

The heart of this initiative lies in our commitment to funding marketing and development proposals from the Ergo Community. We believe that the best ideas for growing our ecosystem often come from those most passionate about it. To that end, we're introducing a new proposal system with the following key features:

1. **Open Submissions**: Anyone in the community, including core developers, can submit proposals.
2. **Structured Format**: Proposals should include a detailed project description, funding requirements, budget allocation, expected results, and a reporting timeline.
3. **Transparency**: We aim to implement a public submission form to streamline the process.
4. **Responsible Funding**: To ensure sustainability, we've set a monthly funding cap of $10,000 for marketing proposals.

For submissions use the form 👉 https://tally.so/r/mJ0jeY

## Gluon Gold: EF’s First Approved Proposal

We're thrilled to announce that the first proposal approved under this new initiative is a marketing campaign for Gluon Gold. This project, proposed by The Stable Order, aims to promote Ergo's stablecoins and their integration with Rosen Bridge. The campaign will generate over 200 PRs across various media channels, benefiting multiple Ergo-based projects.

## Welcoming New Voices

In an effort to broaden our perspective and strengthen our team, the EF is actively expanding its membership. We're pleased to share that @MGPAI (Shishir Pai) has agreed to join the Foundation. MGpai has a background in computer science and is a well-known Ergo-community developer. He is involved with several projects across the ecosystem including [Zengate](https://www.zengate.global/), [Lilium](https://www.liliumergo.io/), [Phoenix Finance](https://www.phoenixfi.app/), [ErgoNames](https://www.ergonames.io/home), [Rosen Bridge](https://rosen.tech/), and [Oracles](https://docs.ergoplatform.com/uses/oracles/).

We're open to welcoming additional members who will have full voting rights within the EF. To ensure a smooth integration, new members will be onboarded gradually over time.

## Looking Ahead

As we implement these changes, we remain committed to transparency. The EF will soon publish details of our liquid funds to help manage expectations and ensure accountability. We believe that by supporting projects that attract users and drive adoption, we can create sustainable growth for the entire Ergo Ecosystem.

large_news_blog_ef_announces_240724.png

medium_news_blog_ef_announces_240724.png

small_news_blog_ef_announces_240724.png

thumbnail_news_blog_ef_announces_240724.png

news_blog_ef_announces_240724.png

Ergo Foundation Announces New Initiative to Accelerate Ecosystem Growth

## Three New and Innovative Projects Take Top Prizes

Interoperability is the next chapter in the evolution of the blockchain industry. Numerous chains offer differing degrees of use cases, but Bitcoin is still king of the market, owning the title of largest market cap. It has endured and proven itself to be reliable, secure, and a true store of value. For all of its achievements though, Bitcoin lacks the ability to evolve into a blockchain with native smart contracts. The integration of Bitcoin with DeFi is still in the early stages, but a blockchain with its genesis rooted in open source development and decentralization may have what it takes to be the leading platform to blend Bitcoin with powerful and secure smart contracts.

As a blockchain modeled after Bitcoin's UTXO model, Ergo offers a clear path toward the full realization of Bitcoin and DeFi. The opportunities for Bitcoin on Ergo have never been more concrete. As of this month, [Rosen Bridge](https://rosen.tech/) has now officially connected Ergo, Cardano, and Bitcoin (with the addition of EVM chains on the horizon) through secure and decentralized infrastructure. As a result of this, developers can now utilize Bitcoin with Ergo’s smart contracts and time tested network security.

The Ergo Foundation’s most recent hackathon (ErgoHack VIII: Ergo as a Smart Layer) was designed to address this new opportunity presented by Rosen Bridge. It encouraged contestants to build tools and products to augment the versatility and functionality of Bitcoin on Ergo.

## ErgoHack VIII Winners

ErgoHack VIII featured 15 teams: Analog Ergo, Crystal Pool, Cup of Sugar, Duckpools
Ephemeral Messaging, Huangians, Moria Finance, Reputation System, Mining Bitcoin Swap, Rosen Port, Rng Dev, Sigma Wallet, Space Wallet, Trustless Relays, and Wallet Wonderland.

After much deliberation by the adjudicating committee, we are pleased to announce the winners of ErgoHack VIII:

### 1st Place ($9k SigUSD): Crystal Pool


>“This new trading platform is a great addition to the Ergo ecosystem, boosting a user-friendly design and seamless integration for instant trades.” - ErgoHack Judge

Crystal Pool has designed a self-custodial exchange, whereby users can swap assets available on the Ergo Platform. All the transactions are performed by Ergo smart contracts, and users maintain custody of their assets at ALL TIMES. Imagine an interface that looks and feels like a centralized exchange order book, but you maintain the security of your assets while interacting. Crystal Pool will utilize the assets that have been bridged via Rosen Bridge, which include Ergo, Bitcoin, and Cardano assets at this time. In the future, Ethereum and other EVM chain assets will be accessible in this unique self-custodial exchange.

### 2nd Place ($5k SigUSD): Duckpools


>“The OptionPools for Duckpools is another solid financial tool that will bring much more attention to DeFi within Ergo’s ecosystem. Creating a pool to peer options platform in the time provided is quite impressive.“ - ErgoHack Judge

The Duckpools team has designed a new options trading service called OptionPools. It will be created through an automated market maker (AMM) option trading smart contract pool, whereby liquidity providers and traders can add/collect yield and buy/sell options, respectively. 

### 3rd Place ($4k SigUSD): Analog Ergo


>“This project is strongly aligned with the theme of integrating Bitcoin, as it is focused on integrating Lightning Network ←→ Ergo swaps.” - ErgoHack Judge

The Analog Ergo project aims to achieve atomic swaps between the Lightning Network and Ergo. During the ErgoHack, they established Bitcoin Testnet and Lightning Testnet (LND) environments. Analog Ergo’s work also included modifying their existing Atomic Swap Contract to include sha256 preimages instead of Curve Points. Finally, they were going to perform a proof of concept swap where the Lightning preimage serves as the secret for the Atomic Swap. 

## Additional prizes:

Kushti helped launch a [community raffle](https://ergoraffle.com/raffle/show/91547b4f55a049553dc8629c246431dd904ed16565a1ed859b59f7cbe6e92514), and it raised over 8462 ERG from the generosity of the Ergo community. After a [public vote](https://app.paideia.im/Sigmanauts/proposal/ergohack8--sigmanaut-community-bonus-rewards-f69c4061-07f0-4667-83f8-d0b71a90effa), the following prizes were awarded:

1st Place (1505.2 ERG) - Mining BTC Swap (Sig Mining Pool)
2nd Place (1297.7 ERG) - Crystal Pool
Joint 3rd Place - (1090 ERG) - Duckpools (optionPools) and Random Number Generator!

100k RSN was also available for consideration, and the judges decided to award these funds equally to all of the participants.


## ErgoHack Conclusion

Thank you to all of the participants for their hard work and innovative proposals. The Ergo Foundation would also like to thank everyone who contributed towards the prize pool, including the Rosen Bridge team and the Ergonaut Community Raffle Prize. 

Keep an eye out for the next ErgoHack announcement! There is an incredible amount of development happening on the Ergo blockchain, and as Rosen Bridge opens new doors to cross-chain interoperability, Ergo is poised to lead the way with new and innovative tools and products. 


large_blog_ergohack_resullts_290624.png

medium_blog_ergohack_resullts_290624.png

small_blog_ergohack_resullts_290624.png

thumbnail_blog_ergohack_resullts_290624.png

blog_ergohack_resullts_290624.png

ErgoHack VIII Winners

ErgoHack VIII: Ergo as a Smart Layer has just ended, and we have 9 submissions for our judges to evaluate! This iteration of Ergo’s popular hackathon saw participants explore the various ways in which Ergo [can augment the functionality and versatility of Bitcoin](https://ergoplatform.org/en/news/ErgoHack-8-Ergo-as-a-Smart-Layer/). 

## ErgoHack VIII Adjudication

During this ErgoHack, contestants had the opportunity to present their work to some of the most innovative and creative minds in the crypto space. Now, as they deliberate, judges will consider the following criteria to make their final decisions:

- Innovation and originality
- Technical execution and code quality
- User experience and design
- Potential impact on the Ergo ecosystem
- Alignment with the theme of integrating Bitcoin

At the end of the adjudication process, the judges will select three winners, and they will each receive a portion of the prize pool. Winners will earn a share of 18k SigUSD as well as several other big prizes.

**1st Prize - 9k SigUSD
2nd Prize - 5k SigUSD
3rd Prize - 4k SigUSD**

### Additional Prizes
- 100k RSN tokens to be distributed at the judges’ perogative
- Nervos CKB sponsored prizes of 1000 CKB for a project that Developed a Lending Protocol on a UTXO-Based Chain
- 8462 ERG from kushti's raffle awarded to the project that wins the community vote

## Judges

### Mark Glasgow, Ergo Foundation
Mark is an Ergo Foundation member and works across various roles in Ergo. As a Computing Science graduate with a personal passion for improving inclusive systems, he is also the Technical Director for Disabled Students UK CIC -  a non-profit that was named as one of the most influential disability-led organizations in the UK.

### Alex Slesarenko AKA morphic, Ergo Foundation
Alex Slesarenko (morphic) is an ERGO Foundation Board Member and graduate of Applied Mathematics from Udmurt State University. He has extensive experience in software development as a team leader, architect and researcher. He worked as Team Leader at Huawei Research Lab, focusing on developing languages and compilers for high-performance big data processing. Alexander is a Blockchain Core Developer and Lead Developer of ErgoScript at ERGO.

### Error404
Error404 has a PhD in Computer Science from the University of Liverpool, specializing in Ontology and Creative Design. They are a contributor to the open-source HTML5 player McCree. Currently, they serve as a Developer Relations (DevRel) expert at Nervos Network, dedicated to building and promoting the developer community and ecosystem for that blockchain platform.

### Rustinmyeye
Rustinmyeye is a member of Ergo's Sigmanauts community. They have been actively learning to code since discovering Ergo. Passionate about Ergo and its community, rustinmyeye is inspired to construct apps and/or docs that empower average users and solve problems they encounter while interacting with the Ergo blockchain.

## ErgoHack VIII Announcements

Stay tuned to Ergo’s social media channels to stay up-to-date on Ergo as well as ErgoHack VIII’s announcement of the prize winners!


large_ergohackVIII_judges.png

medium_ergohackVIII_judges.png

small_ergohackVIII_judges.png

thumbnail_ergohackVIII_judges.png

ergohackVIII_judges.png

ErgoHack VIII: Meet the Judges

Since the launch of Ergo in 2019, ErgoHacks have emerged as a critical event in the Ergo community’s year. These hackathons are a chance for community devs to work intensively on specific projects. While ErgoHacks were originally conceived as competitive events, they have evolved into opportunities to work with experienced mentors, and have significantly contributed to the development of essential tools and decentralized applications (dApps) that form the core infrastructure of the Ergo ecosystem.

The theme for current hackathon, [ErgoHack VIII](https://ergohack.io/), which takes place from 25 May to 2 June, is **Ergo As A Smart Layer For Bitcoin**. The aim is to leverage Ergo’s unique features, such as the extended UTXO model and Sigma protocols, to build DeFi applications that help position Ergo as a means of extending Bitcoin’s own functionality. 

Participants – both solo and in teams of up to six – have the chance to showcase their skills, collaborate with fellow developers, and contribute to the ecosystem's growth. The event includes planning, designing, and workshopping proposals with guidance from industry experts in blockchain, AI, finance, and project development. 

Here are some of the key projects that participants are building. 

### Lightning Swaps (Analog Ergo)

The Atomic Swap Software team is working on a proof-of-concept integration for atomic cross-chain swaps between Bitcoin’s Lightning Network and Ergo. 

Their solution will use Lightning Network “Submarine Swaps,” which use HTLC or Hash Time Lock Contracts to enable swaps between Lightning Network BTC and Mainnet BTC. The Atomic Swap Software team has implemented a similar system on Ergo using EC Point Time Lock Contracts. Their main goal is to modify Ergo contracts to be compatible with Lightning Network's hashed preimage system. Future compatibility with PTLCs (Point Time Lock Contracts) may allow broader use of their existing contracts with Lightning Network swaps. Additionally, they plan to implement Reverse Submarine Swaps to ensure smooth liquidity paths in both directions for integrated chains.

The team has already implemented a unidirectional swap between Sepolia EVM Testnet and Testnet Ergo, and are now developing critical security features before public testing and Mainnet launch. The Lightning link will act as a secondary liquidity path for their market network. 

### CrystalPool 

The CrystalPool team plans to deliver a proof-of-concept for a self-custodial exchange that offers a real-time user experience similar to conventional centralized exchanges. They aim to develop a user interface for trading, an order book management system, and core functionalities for handling chains of unsubmitted transactions. Key components include a transaction processing system, a communication protocol for multi-signatures, integrated wallet functions, and a user interface for order creation and balance tracking.

CrystalPool uses time-limited multisig smart contracts and a headless wallet to facilitate real-time exchange transactions on Layer 1. The exchange ensures self-custody by requiring both the user's and pool's public keys to sign operations, with the user gaining full control after a specified time limit. The integrated wallet provides real-time balance updates and seamless transaction processing.

The team has already implemented mathematical functions for the Black-Scholes model in ErgoScript, pricing call options, and dual asset exchanges. Upcoming tasks involve refining option exercising stages, supporting various strikes and expirations, and further enhancing the UI.

### Cup of Sugar

Cup of Sugar seeks to use the blockchain in a real-world setting, facilitating the creation of a LETS (local exchange-trading system). LETS are micro-economies in which goods and services are exchanged for a local or native currency. (The project has already airdropped some $COS tokens to community members’ wallets.)

Cup of Sugar offers farm-fresh, traceable products that promote local agriculture. However, the project intends to go further than this by offering a blueprint for micro-grocers and coffee shops who want to use the same approach.

### OptionPools (Duckpools) 

The initiative targets the creation of highly liquid option markets, using Ergo's unique capabilities and the Rosen Bridge to establish the network as the hub of crypto options trading.

OptionPools has integrated complex mathematical functions into ErgoScript to develop an on-chain Black-Scholes options pricing model. This includes logarithmic, exponential, and square root functions, along with a rough implementation of the Cumulative Distribution Function (CDF). The model has been tested on-chain by pricing and selling call options from a dual-asset option pool. Test asset exchanges are being carried out.

### Ephemeral Token Messaging

This project aims to create a private messaging system that uses the Ergo blockchain and mempool to deliver messages, paying Ergo miners for their support. 

The alpha PoC aims to deliver a secure, instant messaging desktop app for all operating systems. The app reads messages from the mempool for speed, and uses a smart contract to ensure assets for paying miners cannot be tampered with. This version employs the “creationHeight” parameter for message expiry. An offchain bot burns tokens in the smart contract and sends the ERG to the Sigmanauts Mining bonus payout wallet.

To use the service, users input an address and type their message. Upon submission, the backend creates an NFT with the message and sends it to the smart contract with approximately 0.01 ERG. The creationHeight parameter is set to determine the message expiry duration. The app monitors the mempool for the smart contract, displaying messages from the NFT in a user-friendly conversation window.

This service prioritizes privacy, providing a foundation for encrypted messaging on a public ledger. It offers potential use cases for dApps, such as facilitating trades, loans, and secure information exchanges.

### Moria Finance 

Moria Finance offers a set of new tools for managing funds, including Bitcoin that has been bridged to Ergo via Rosen (rsBTC).

Bitcoin itself has limited scripting, and although there are several platforms that seek to implement smart contracts directly on the Bitcoin network, these are controversial for various reasons and have a number of drawbacks. 

Moria’s initial solutions for Bitcoin will include timelocked wallets, which control where and when funds are sent; reversible addresses that are subject to third-party oversight; and simplified handling of group funds using multisig addresses.

### Reputation System

Two implementations of a reputation system based on the Runes protocol on Bitcoin are being developed and tested. 

The first is a simplified version, while the second incorporates Sigma Script for greater versatility. This version, called “Sigma Runes”, while based on the Runes protocol, does not follow it in every detail since the reputation proofs serve different purposes in each case.

Work still to be completed includes adding the Bitcoin network to the Sigma Reputation Panel interface, implementing a server that connects to a Bitcoin RPC (similar to the "Ord" library of the original Runes), and creating additional documentation and videos.

### Mining BTC Swap

This project aims to create a permissionless on-chain system to allow miners to configure pools and swap mining rewards for other tokens.

The service uses a smart contract to hold tokens, which are sent out to Ergo addresses when the payment threshold is reached. NFTs are used to define pool parameters, with backend bots tasked with performing maintenance. 

### RNG

Random number generators have many applications in blockchain, including gaming, lotteries and NFTs, but creating high levels of reliable randomness is difficult. This project intends to address this gap on Ergo, aiming to ensure strong security and a tamper-proof commit-reveal protocol to ensure unbiased outcomes that cannot be exploited. 

### Sigma Wallet 

This project will see the creation of a new React Native and Rust mobile wallet. The aim is to provide a different kind of UI/UX, inspired by wallets such as Green Wallet, Kaspium and Mutiny. Ideally this will be a user-friendly wallet for everyone that nonetheless retains some more complex and niche “cypherpunk” features, including non-reusable addresses for greater privacy.

### Space Wallet

The PoC for Space Wallet will be a cross-platform (mobile, desktop and ideally web) wallet that uses NiPoPoWs – non-interactive proofs of proof-of-work – to sync with the blockchain and provide basic functionality for connecting to dApps. An additional goal is to chain multiple actions together without needing to wait for the next block using mempool spending. The tech used will be Flutter for the UI and Sigma-Rust for wallet functionality.

### Trustless Relays

This project will enable trustless transfers, facilitate advancements like RGB++, and support the creation of trustless Bitcoin hashrate derivatives on Ergo.

### Wallet Wonderland

The plan here is to create visual guides and tutorials for popular wallets, providing detailed documentation that can be maintained on an ongoing basis.

Ergo has multiple wallets in current use, but development for some key wallets has been discontinued, or updates are infrequent. It can be difficult to know which wallet, or even type of wallet (mobile, node, browser plug-in, etc) is best for different users, including newcomers, games, dApp users, developers, and so on.

Wallet Wonderland aims to provide comprehensive information about the different options available, what each of them offer, and some of the key terms and questions users need to understand. These include understanding seed phrases, cold wallet creation and use, wallet restoration, multisig addresses, UTXOs and consolidation, Ergo’s demurrage, and much more. 

As well as gathering existing documentation, Wallet Wonderland’s team will interview 25-30 community members about their preferences and tips for wallet use, and consult with wallet developers for further insights. The result will be a set of visual guides and video tutorials.

### Huangians

This was a late entry from a group of computer science students at Cornell University. Further details will be confirmed in due course.

### Rosen Port

Rosen Port aims to facilitate cross-chain bridging with lower fees, particularly benefiting smaller funds. By enabling batch bridging, this approach allows small holders to participate in the bridging process and explore the Ergo ecosystem without incurring high fees. Their goal is to build an inclusive system that allows everyone to use the Rosen Bridge, regardless of the amount of tokens they hold, thereby increasing adoption.

## Find Out More

ErgoHack VIII promises to be a valuable event for the community – creating new software to bring the benefits of Ergo to a wider audience – and to Ergo developers. $18,000 in prize money has been donated by the Ergo Foundation. The Rosen team has also donated 100,000 $RSN, worth around $9,000, and [the community has raised](https://ergoraffle.com/raffle/show/91547b4f55a049553dc8629c246431dd904ed16565a1ed859b59f7cbe6e92514) a further 8,462 ERG to reward participants. This means the total prize pool is around $40,000!

You can find out more about any of these projects by joining the [Ergo Discord](https://discord.gg/EPCUjAV5)! Each group has its own channel within the ERGOHACK category.

Good luck to all those participating!

large_ergo_hackVIII_newsblog_15042024.png

medium_ergo_hackVIII_newsblog_15042024.png

small_ergo_hackVIII_newsblog_15042024.png

thumbnail_ergo_hackVIII_newsblog_15042024.png

ergo_hackVIII_newsblog_15042024.png

ErgoHack VIII: Ergo As A Smart Layer

_The Ergo Foundation and MEXC exchange are pleased to announce that $ERG trading is now [live on MEXC exchange](https://www.mexc.com/exchange/ERG_USDT) as of April 29, 2024 at 10:30 UTC._

A growing company in the crypto exchange industry, MEXC currently ranks 11th on Coin Market Cap's top exchanges. It offers fiat support for 15 different currencies, and it lists more coins than the top 10 exchanges on the list. Servicing over 10 million customers, MEXC is available to users in over 170 countries. It holds over $4 billion in assets and has achieved over $1.24 billion in spot trading volume in the last 24 hours.

## The Power of Community

This exchange listing was made possible through the initiative and efforts of the Ergo Community. Spearheaded by the Sigmanauts, a community [Ergo Raffle](https://ergoplatform.org/en/news/Ergo-is-now-available-on-MEXC-Global/) was held to raise over 28k ERG. Through the generous contributions of the Ergo community, the raffle successfully raised the required funds, and the Ergo Foundation contributed the necessary market-making fund for the listing.

Ergonauts and MEXC customers can now trade $ERG coins on the MEXC exchange. If you are new to MEXC exchange, please visit their [website](https://www.mexc.com/) for more info on their products as well as how to create an account. If you are an existing MEXC customer and would like to learn more about the Ergo Platform, please visit the [Ergo website](https://ergoplatform.org/en/).


large_IMG_3217.png

medium_IMG_3217.png

small_IMG_3217.png

thumbnail_IMG_3217.png

IMG_3217.png

Ergo is now available on MEXC Global

Now that the Bitcoin halving has transpired, what’s next for the crypto industry? Bitcoin has more than proven to be a worthy store of value over the last 10 years. Over that same period of time, new blockchains have launched, offering various promises of high-end speed and/or security. However, in an effort to be the next big thing, many crypto creators have succumbed to hype marketing and a need for blazing fast transactions. 

If we have learned anything over the last several years though, it’s that newer and faster does not necessarily mean better. In numerous instances, many of these blockchain networks have suffered from expensive gas fees, failed transactions, network downtime, and security breaches.

Bitcoin has never been hacked, and it has never experienced network downtime. This should be the industry standard and anything less is not acceptable when it comes to the security of your money. Smart contract platforms need to be secure, first and foremost. If Bitcoin is the standard, then smart contract platform designs need to be interoperable with that blockchain.

The Ergo Platform provides the solutions the industry needs for easy and secure interoperability with Bitcoin. Its Proof of Work and eUTXO design are inspired by, and modeled after, Bitcoin. Through thoughtful and collaborative research, open source development, and a humble desire to build a blockchain that betters our lives with secure and fair economic tools, Ergo is the perfect smart contract network to complement Bitcoin’s existing infrastructure and store of value. Through the extensive efforts of the [Rosen Bridge](https://rosen.tech/) team, Ergo is now positioned to be a cross-chain hub, whereby swaps between multiple chains (including Bitcoin) will be possible with all the security and smart contracts performed on the Ergo blockchain. 

Interoperability will unlock the greatest potential of the blockchain industry. Meme coins and NFT’s have brought entertainment value to crypto, but true adoption will come with the ability to allow people to use their money freely and securely through blockchain.

With ErgoHack VIII, the Ergo Foundation calls on Bitcoin and Ergo researchers, developers, and entrepreneurs to build and design products that enable new levels of interoperability between the two blockchains. Prospective participants are encouraged to consider some of the following ideas for inspiration:

- Ergo’s eUTXO design as leverage for Bitcoin compatible smart contracts.
- The development of Bitcoin-backed stablecoins on Ergo.
- The development of Ergo DeFi applications that use and integrate Bitcoin.
- Utilizing Ergo Sigma Protocols and zero-knowledge proofs as a way of bringing new levels of privacy to Bitcoin.
- Lending and Borrowing platforms that leverage Bitcoin and Ergo assets.
- Yield farming and liquidity mining for Bitcoin and Ergo holders.
- Leveraging Ergo’s Rosen Bridge for cross-chain functionality and the development of dApps that integrate the bridge.
- Other interoperability solutions such as Bisq 2 integration
- Bitcoin-backed NFTs
- Indexer or other interoperability solutions for Runes and Ordinals. 


These are just a few examples of what participants might explore building. If you have your own inspiration for a project that explores the intersection of Bitcoin’s and Ergo’s interoperability, you are highly encouraged to submit an application. 

## Prize Pool

1st Place - 9k SigUSD
2nd Place - 5k SigUSD
3rd Place - 4k SigUSD

## Judging Criteria

All project proposals and final submissions will be judged by the following criteria:

- Innovation and originality
- Technical execution and code quality
- User experience and design
- Potential impact on the Ergo ecosystem
- Alignment with the theme of integrating Bitcoin

During the hackathon, participants will have access to online materials and guidance from several prominent developers in the Ergo ecosystem. Additionally, winning projects will have continued support from developers as they continue to build their proposals into viable products.

For more details and access to the application form, please visit the [ErgoHack website](https://ergohack.io/register/). 

Ergo’s Next Hackathon Takes Place May 25 - June 2, 2024

ErgoHack VIII: Ergo as a Smart Layer

## What is DexyGold?

DexyGold is an algorithmic stablecoin that will be on Ergo, and it represents something new and exciting for the crypto industry. When most people think of a stablecoin, they think of a native token that is pegged to the US dollar. DexyGold will be pegged to the price of gold, an asset that is viewed as a strong store of value by many in traditional finance. DexyGold gives users in the Ergo ecosystem a fascinating and creative alternative when converting $ERG and/or other native tokens to a stablecoin. 

## DexyGold’s Design

[The DexyGold design](https://docs.ergoplatform.com/eco/dexy/#design-overview) is extremely intricate and integrates essential features to ensure that it remains a reliable option for those who wish to use it on Ergo. During the bear market, many stablecoins collapsed and lost their pegs, and so it is imperative that any design of a new stablecoin be rigorously tested to ensure it is safe to use.

DexyGold will operate through the Emission (Minting) Contract. This implements the one-way minting of Dexy tokens by selling $ERG at the oracle pool’s rate. However, selling Dexy for $ERG is not possible with this contract. 

The next feature of its design is the Liquidity Pool (LP) that facilitates Dexy trading with $ERG. The Liquidity Pool employs a sort of Uniswap V2 logic which makes adjustments according to the oracle pool rate. It also restricts LP token redemptions when the oracle rate falls significantly below the LP rate. 

The third feature is an arbitrage mechanism. When the oracle rate surpasses that of the LP, arbitrageurs can mint Dexy from the emission contract and sell it to the LP. This generates profit and aligns the Dexy price with the peg. Arbitrage is an important part of the cryptocurrency world and incentivizes users to use the protocol. 

The fourth feature of DexyGold is called Top-Up Swaps. Essentially, when the oracle rate is lower than the LP rate, $ERG from the emission contract can be used to buy Dexy from the LP, which in turn pushes the price back up. This process is overseen by a swapping contract that monitors both rates - please note that it requires a minimum number of blocks for swaps to occur.

Lastly, DexyGold features anti-draining measures. This is arguably one of the more important security mechanisms. Whenever money is involved, bad actors are sure to arise. DexyGold’s design aims to avoid cyclical draining of the emission contract by locking minted Dexy tokens (or $ERG) for a specific period and disabling minting during profitable periods (based on certain rates). 

## Are There Any Potential Vulnerabilities?

Like most DeFi protocols, almost anything can have potential vulnerabilities and attack vectors. As mentioned before, draining attacks where bad actors alternate between minting and selling (and then topping up the LP) could potentially drain the emission contract’s $ERG. However, the anti-draining measures mentioned earlier are meant to combat this. The DexyGold design also relies heavily on the oracle it is using. The oracle price feeds need to be accurate or a bad actor could take advantage of this. Significant selling pressure could also pose a risk and therefore the stabilizing mechanisms of the stablecoin need to be robust enough to combat the volatility. 

## Live on Testnet

DexyGold has been in development for quite some time now, and it has recently gone live on testnet. No official date has been given for its launch on mainnet, but the testing phase indicates that it could be close. DexyGold will be the first of its kind, and it brings unique and exciting DeFi opportunities for Ergo users.

To learn more about DexyGold, please see this [document](https://docs.ergoplatform.com/eco/dexy/#design-overview). There is also an in depth [video](https://www.youtube.com/watch?v=n2hU8DCLLp0) on DexyGold by the founder of Ergo, Alexander Chepurnoy.

Stay tuned to Ergo’s blog and social media channels for future announcements on the mainnet launch of DexyGold!


large_Dexy.png

medium_Dexy.png

small_Dexy.png

thumbnail_Dexy.png

Dexy.png

If you are new to Ergo, you may not yet know that the blockchain has successfully deployed a crypto-backed algorithmic stablecoin, SigUSD. SigUSD is pegged to the price of the US dollar and has maintained its peg despite the volatility of the crypto asset class during the bear market. As DeFi expands on Ergo and new products are being built, an exciting development will add a new native stablecoin to the ecosystem: the DexyGold stablecoin. 

DexyGold Stablecoin Live on Testnet

As the team prepares to onboard these additional chains, they have made significant strides in developing the coding for the new bridges while also upgrading the current bridge design. As such, an important update is coming for the deployment of Watchers.

Those who have been (or are interested in) participating as a Watcher, will no longer need to worry about the system capping the number of Watchers per chain. Previously, there was a maximum of 77 Watchers observing each blockchain. Going forward, as long as someone has a computer and the required bridge collateral (30k $RSN and 800 $ERG), they will be able to deploy a Watcher for any of the bridged chains. Once their Watcher is online, they will be able to operate as many permits (3k $RSN each) as they desire on their Watcher.

In a recent announcement, the Rosen Bridge team outlined the following upgrades and changes to Rosen Bridge:


>“- New config tokens and contracts will be created and deployed (new tokens are internal system tokens and is not something you should care about)
>- Guards will block [the creation] of new event triggers in the network by updating some parameters. As a result, current watchers cannot create commitment and event triggers for a while.
>- during this time, user events will get stuck in the bridge [until the] new version is up, then all of [the] stuck txns will be processed (so users should expect an 5-6 hours of delay during this phase)
>- Rosen App (UI) will be in maintenance mode for a few hours in order to prevent users from sending new transactions.
>- Guards will update their service to v2.
>- Watchers will update their services and migrate to v2. Instructions are easy and will be provided later. (simply it is Unlock -> Update -> Lock)
>- As soon as [there are] a few watchers on v2, the txn processing will [resume].
>- Rosen App will be updated to allow new txns.”


For additional information on Rosen Bridge, please visit the [official website](https://rosen.tech/) and [X account](https://twitter.com/RosenBridge_erg). 

01_Ergo_blog_Rosen_updates_Infrastructure_220324.png

large_01_Ergo_blog_Rosen_updates_Infrastructure_220324.png

medium_01_Ergo_blog_Rosen_updates_Infrastructure_220324.png

small_01_Ergo_blog_Rosen_updates_Infrastructure_220324.png

thumbnail_01_Ergo_blog_Rosen_updates_Infrastructure_220324.png

Since the launch of Rosen Bridge, more than 1 million $ERG have been bridged to the Cardano blockchain. Additionally, there has been extensive liquidity from Cardano back to the Ergo network. A testament to the power of decentralized infrastructure, Rosen Bridge is primed to set a new standard in cross-chain DeFi with the upcoming additions of the Bitcoin and EVM chains.

Rosen Bridge Update: Expansion of Watcher Infrastructure

As a Proof of Work (PoW) blockchain, the Ergo Platform requires miners to maintain and secure the network. In exchange for providing this vital service, miners are rewarded with $ERG tokens each time a block is created.

When the blockchain first launched, Ergo’s emission schedule was set to be completed within eight (8) years. This meant that all block rewards (except for network transaction fees) would have ended in 2027. The first two years after mainnet launch, the mining protocol released 75 ERG/block, after which the emission rate was scheduled to drop by 3 ERG/block every three months. 

In 2022, Ergo’s core developers, miners, and ecosystem community began to discuss the emission schedule and its fast-approaching conclusion. Out of a concern for the long-term economic sustainability of the blockchain, it was agreed that a new direction needed to be explored so that the network had ample time to develop self-sustaining levels. EIP-27 was the result of numerous debates and forums, and after the miners voted to approve the proposal, the new emission schedule was implemented and activated on mainnet in June 2022 (block #777217).

## New Emission Schedule

>[“If block rewards is not less than 15 ERG, send 12 ERG from it to the remission contract[…] Otherwise, block reward R is less than 15 ERG, send R-3 ERG from it to the remission contract.”](https://www.ergoforum.org/t/eip-27-mainnet-activation-voting-and-final-details/3585)
- Alex Chepurnoy, Ergo Forum


As per [EIP-27](https://docs.ergoplatform.com/mining/standards/eip27/), the new emission schedule will see the network release block rewards until 2045. In essence, the schedule uses a set of rules to decide how ERG are to be allocated to or from the remission contract in order to extend ERG emissions. Using the original schedule, if a block was scheduled to have 15 or more ERG released, then 12 ERG from that block will be sent to the remission contract for future block rewards. Once block rewards are less than 15 ERG/block, 3 ERG/block will be sent to the remission contract.

Since block rewards are reduced by 3 ERG/block approximately every three months (this rule was maintained from the original emission schedule), there is a simpler way of looking at the new emission schedule. EIP-27 was activated in June 2022, and the new block size was set at 51 ERG/block (based on the new EIP-27 rules). From that point onwards, the emission schedule reduces the ERG/block by 3 ERG every three months until the block size is 3 ERG. Once the emission schedule reaches 3 ERG/block, mining emissions will hold steady at 3 ERG/block until Ergo’s supply has been fully mined. 


## Latest Emission Reduction

Recently, the mining protocol reached the latest emission reduction. This occurred on Jan. 8 2024 with block 1173599. As a result, new block emissions have been reduced from 33 ERG/block to 30 ERG/block. The next reduction in block emissions is scheduled for early April 2024 and will yield block rewards of 27 ERG/block. 


007_block_reduction_blognews_29022024.png

large_007_block_reduction_blognews_29022024.png

medium_007_block_reduction_blognews_29022024.png

small_007_block_reduction_blognews_29022024.png

thumbnail_007_block_reduction_blognews_29022024.png

Ergo’s token supply is capped at 97,739,935 ERG. This is fixed and can never be altered.

Ergo’s Emission Schedule: Latest Block Reduction

## Why is this significant?

[Xeggex](https://xeggex.com/) is a popular cryptocurrency exchange amongst the Proof-of-Work mining community, making the listing of ERG tokens on the exchange a perfect fit. As a Proof-of-Work model, Ergo’s vision, community, and ideals are fully aligned with Xeggex, and we expect Ergo’s reception on Xeggex to be very well-received.

To achieve this, our community was able to raise 2,229 ERG tokens equalling a total of $3,500 USD at the time of this announcement! The amount raised will be directly used to help provide liquidity to the ERG/USDT and ERG/BTC pairs [which are now available](https://xeggex.com/markets) on the exchange!

This is a welcome addition to Ergo’s already [wide list of exchanges](https://ergoplatform.org/en/get-erg/#Exchanges), which include the likes of KuCoin, Gate.io, and BitPanda. We hope this listing will hit close to home for many of you who have been part of Ergo’s community for a long time, and we’re extremely excited to be able to give our community with even more liquidity-provision opportunities.


Are you interested in learning more about Ergo and its community? [Join our growing Discord community with over 10,000 members here!](https://discord.gg/ergo-platform-668903786361651200)


large_006_popular_pow_blognews_29022024.png

medium_006_popular_pow_blognews_29022024.png

small_006_popular_pow_blognews_29022024.png

thumbnail_006_popular_pow_blognews_29022024.png

006_popular_pow_blognews_29022024.png

The latest Ergo Raffle has concluded, and we are happy to announce that Xeggex (pronounced Zeg-Ex) have secured enough ERG tokens from 59 of our community members to have ERG listed on their exchange! 

Popular PoW miner exchange, Xeggex, secures Ergo listing

As we enter the New Year, the Ergo Platform continues to demonstrate new feats of development. Recently, [Rosen Bridge went live between Cardano and Ergo](https://ergoplatform.org/en/news/Rosen-Bridge-Officially-Launches-on-Ergo-Mainnet/), and this incredible accomplishment showcases the power of open source development and community collaboration. This decentralized cross-chain bridge has the potential to revolutionize the blockchain industry, making it a cross-chain hub for people to swap native assets not only between Cardano and Ergo, but also Bitcoin, Ethereum, Binance Smart Chain, and Dogecoin.

As we celebrate the launch of this new bridge, the Ergo Foundation is also busy preparing for the upcoming Ergo Summit. For the last several years, the Ergo Summit has served as a catalyst for discussion and development of blockchain technology, and it is an event that welcomes new and existing Ergonauts to learn about the projects and ideas that are being designed and tested on Ergo. 

This year, the Ergo Summit will take place from **January 15-19**, and it will explore the theme of the **Future of Finance: Ways of Adoption**. Over 4 days, audiences will have the opportunity to hear from Ergo core and community developers as well as blockchain industry experts. They will learn about projects that have built (or are building) dApps on Ergo, and they will have the chance to learn about innovative new ideas that are being explored for practical use on the blockchain. 

## Scheduled Events

Each presentation will be made available on [Ergo’s YouTube Channel](https://www.youtube.com/c/ergoplatform), and they will all be free to the public. Below is brief overview of the topics and presenters that audiences can look forward to:

### Sidechains with Alex Chepurnoy (kushti) 
Founder and core developer, Alex Chepurnoy, will present a discussion on the implementation of Sidechains with Ergo. This talk will cover the inspiration for Sidechains and possible contract designs. 

### Analog Ergo Atomic Swap Marketplace with Ryan
A recent winner of ErgoHack VII, Analog Ergo Atomic Swap is a dApp that will enable multiple entities to perform trustless cross-chain atomic swaps. Ryan will offer a presentation on Analog Ergo Atomic Swap, including contract construction and an example of a swap between Ergo and Ethereum.

### Lilium Event Ticketing with LGD and MGpai
Lilium is a next generation smart contract platform that allows users to mint and create NFT collections. In particular, this platform aims to revolutionize the event ticketing industry. This video will offer audiences a closer look at how the dApp is designed as well as recent updates to Lilium’s website UI.

### HodlBox with TMR.ERG
TMR.ERG offers a presentation on HodlBox, one of ErgoHack’s prize winners. This dApp encourages users to lock their $ERG in a contract until either the price hits $20 or 12 months transpires. 

### BlitzTCG with Mick
Mick shares his thoughts on blockchain, future adoption, and gaming. His presentation includes why he chose Ergo for his NFT trading card game as well as insightful suggestions on how to talk about blockchain to someone that is new to the technology. 

### zenGate with Dan Friedman
Dan Friedman, CEO of zenGate, talks about his thoughts on mass adoption. As a leader in the integration of real-world assets and blockchain technology, he shares how these new financial products can be a catalyst for the onboarding of new users. 

### Reputation System with jossemii
This video offers audiences a chance to learn about a blockchain reputation system. This project was a recent ErgoHack VII submission, and the goal of the Reputation System is to use algorithms to create a rating system that establishes trustworthy entities in the ecosystem. In essence, this project can lead to a system that weeds out bad actors.

### Terahertz with Liquid Phase (Mike)
Mike discusses the intersection of music, musicians, music lovers, and blockchain. His project, Terahertz, is a music publishing platform on the Ergo Platform that offers decentralized solutions for artists. Of particular concern to Terahertz is the need for fans and artists to be able to more directly connect with one another. 

### Satergo Light Node with Aberg
As the Ergo blockchain grows, there is a need for people to deploy more nodes. With the implementation of NIPoPoWs on Ergo, people can now enjoy full node security on simple computing devices (such as a mobile device). In this video, Aberg gives us a step-by-step guide on how to set up this critical blockchain infrastructure. 

### Future of Finance with Alex Chepurnoy (kushti)
In this video, Chepurnoy shares his thoughts on what the future of finance looks like when compared to the current state of finance. He shares his hopes for the solutions Ergo offers and how Ergo’s advanced DeFi capabilities will be pivotal for the future of finance and mass adoption. 

Stay tuned to all of Ergo’s social media channels for updates and video releases during the 2024 Ergo Summit!
