For many years, the Ergo Foundation and community worked very hard to encourage Ledger Hardware wallets to provide support for the Ergo coin and its native assets. The goal was to have an industry endorsed hardware wallet provide secure and user-friendly access to Ergo holders. It has been a long road to get here, but with the support of the Ergo Foundation and the tireless efforts of some Ergo’s most prominent developers, Ergonauts can now fully utilize Ledger with their Ergo wallets.

The first hurdle towards Ledger integration was completed by Captain Nemo of Nautilus Wallet. They undertook laying the framework by completing the code for Ledger usage. Once completed however, the Ergo app was only available via dev mode on the Ledger Live Application.

The Ergo Foundation recently spent funds to have the code audited by a third party auditing firm, and now for the first time ever, Ergo is fully available for download on the Ledger Live Application. Users are no longer required to adjust the application settings in order to access dev mode. The Ergo App is readily available on Ledger Live along with all other asset application listings. Simply install [Ledger Live](https://support.ledger.com/article/6892461437597-zd?redirect=false) on your computer, connect your Ledger device to the computer, and search for Ergo in the list of applications.

Congratulations to all those who worked to make this happen! As we work to make Ergo a blockchain for everyone, this is a monumental industry achievement for Ergo and the community on the cryptocurrency mainstage.


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Ergo Fully Integrated with Ledger

Ergo Wallet Update: Ergo Fully Integrated with Ledger

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. 


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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)


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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.

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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. 


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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!


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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!

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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/).


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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!


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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). 

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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. 


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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)


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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!


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2024 Ergo Summit - Future of Finance, Ways of Adoption

As the industry has grown, the need for secure interoperable blockchain infrastructure has become increasingly important. In order for the DeFi sector to truly flourish, decentralization and open source tooling must be the priority. With the launch of Rosen Bridge, we establish a new standard in bridge security with clear open assumptions - _one that has the potential to revolutionize the industry and establish Ergo as a hub for the intersection of multiple blockchains._

Crypto bridges enable cross-chain swaps for the native assets of differing blockchains. Imagine Cardano and/or Ethereum assets on the Ergo Platform. Similarly, one could move Ergo assets from the Ergo blockchain to those networks. This kind of cross-chain interoperability opens the door for multiple blockchains to function in tandem, rather than operate as insulated ecosystems. Additionally, it presents an opportunity for dApp developers to exploit the strengths of multiple blockchain networks to maximize the potential of their product.

Over the last several years, there have been various bridges that offered users the chance to swap differing blockchain assets, but in many of these instances there were serious flaws that led to hacks and stolen funds. So, what makes Rosen Bridge different from previous bridges? 

Built on the time tested and robust security of Ergo’s proof of work protocol, Rosen Bridge’s Ergo-centric logic reduces the attack vector of the bridge because none of the security features are performed on other blockchains. This model offers a new level of security assumption not yet seen in the industry. Previous bridge technology on other blockchains has required that the interacting blockchains execute smart contracts on their respective networks - a scenario that can create multiple attack vectors.

Rosen Bridge is a 2nd layer authentication bridge, meaning that there are two layers of security: watchers and guards. The bridge operates with a two-layer system for added security and efficiency. The first layer consists of Watchers who monitor blockchain networks and report events. Once they reach consensus on an event, they inform the second layer. Here, Guards verify the reported event and execute the necessary transactions for Ergo or ChainX. While Watchers are active in monitoring and consensus building, Guards focus solely on verification and transaction signing. This structure allows scalability without overburdening the Guards. The members of both Watchers and Guards can change over time, enhancing the bridge's security and functionality.

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Image taken from [Rosen Bridge website](https://rosen.tech/). 

Rosen Bridge’s first bridge with Cardano is now live at [rosen.tech](https://rosen.tech/). Bridges for Ethereum, Binance Smart Chain, Bitcoin, and Dogecoin are all planned for the near future, with a design that will permit cross-chain swaps between all of these parties. In other words, Rosen Bridge will allow bridging directly between Ethereum and Cardano, Binance Smart Chain and Dogecoin, Cardano and Bitcoin, etc.

If you are interested in running a Watcher for Rosen Bridge, you can now set up that infrastructure. For a guide on how to do this, please visit the [Rosen Bridge Watcher Tutorial on Youtube](https://youtube.com/playlist?list=PLyQeADPK2PWgztdc9lCvAyqjknPaN9woQ&si=SNYxoZMv2iID610o). If you require any assistance, it is recommended that you submit your queries in the Rosen Bridge Telegram Channel. 

For a technical breakdown of Rosen Bridge, interested parties are encouraged to explore the [Rosen Bridge Github](https://github.com/rosen-bridge) as well as the [Ergo Platform Blog](https://ergoplatform.org/en/blog/Ergo%E2%80%99s-Rosen-Bridge-A-New-and-Better-Way-to-Interact-Cross-Chain/). 


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Interested parties can access the bridge now via the Rosen Bridge website. 

It is officially a new era for transacting between blockchains.

Rosen Bridge Officially Launches on Ergo Mainnet

Setting a new standard in bridge design and security, [Rosen Bridge](https://ergoplatform.org/en/blog/Ergo%E2%80%99s-Rosen-Bridge-A-New-and-Better-Way-to-Interact-Cross-Chain/) aims to function as a hub for cross chain swaps across multiple networks. After bridging to Cardano, the Rosen Bridge roadmap includes plans to offer swaps with other blockchains, including BTC, ETH, BNB, and more.

In order for the bridge to come online, the Guards need to be properly set up, and this is the work that the Rosen Bridge developers have been completing recently. The lead developer has indicated that the Guards have set up the necessary requirements for key generation and that the key generation ceremony will most likely take place by this weekend. The next steps will include contract deployment and the minting of tokens, which they have indicated should be completed within a few days of the key generation ceremony. 

Following the successful deployment of these steps, the last part will be the final setup of the guards as well as the activation of watchers. 

It is clear that a lot of very careful thought and work has gone into building and developing the Rosen Bridge, and the Ergo and Cardano communities have been looking forward to accessing this important new product. With this news, it appears that Rosen Bridge could be fully online within 1-2 weeks.

For more information on Rosen Bridge, please visit the Rosen Bridge [website](https://rosen.tech/) and [Github](https://github.com/rosen-bridge). 


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As the Ergo community excitedly awaits the launch of Rosen Bridge, the lead developer for the project has recently provided several important updates. These updates come shortly after the release of the Rosen Bridge token ($RSN) on Spectrum Finance and an understanding that people will need to lock a set amount of $RSN and $ERG as collateral in order to participate as Watchers and earn rewards. 

Rosen Bridge Updates: Launch Expected Within 1-2 Weeks

As of today, interested parties can now acquire the Rosen Bridge token (RSN) through [Spectrum Finance DEX](https://app.spectrum.fi/ergo/swap). This marks a significant milestone in preparation for the launch of Rosen Bridge.

The Rosen Bridge offers a new format in cryptocurrency bridge design. It is an open source, Ergo-centric bridge that will offer secure native asset swaps between varying blockchains. The structure of the bridge features the deployment of smart contracts on the Ergo side of a transaction only, thereby reducing the need for smart contracts on other chains. Rosen Bridge’s architecture relies on watchers and guards to verify and accurately perform cross chain swaps.

Guards are entities with locked funds through multisignature contracts while watchers are entities that monitor “[a blockchain and [report] bridge-related events on Ergo.](https://rosen.tech/)” In essence, the watchers on both blockchains work as a cross chain oracle and report bridge transactions, and guards process transactions after performing the necessary actions. The RSN token will serve as the utility token of Rosen Bridge and watchers and guards will be required to lock RSN as collateral. In the case of watchers, they will also need to lock ERG collateral along with the required amount of RSN. At the end of the emission schedule, all Rosen Bridge fees will be paid in RSN. With this model, watchers will be rewarded with RSN fees that the guards collect from transactions. 

Anyone will be able to set up a watcher as long as they have the necessary ERG and RSN tokens to lock as collateral. In the coming weeks, this information will become clearer, but it has been [stated by mhs_sam](https://t.me/rosenbridge_erg/537) (developer of Rosen Bridge) that the “initial plan is to do [a collateral of] 1k ERG + $1k worth of RSN.”

The RSN token will have a max supply of 1,000,000,000 tokens with an initial liquidity bootstrapping of 100,000,000 tokens. Initially liquidity bootstrapping, future liquidity bootstrapping (additional blockchains), and token emission will account for more than 73% of the total supply. 

The Cardano blockchain will be the first network that Rosen Bridge will operate with, but the roadmap includes plans for bridges with Ethereum, BSC, Bitcoin, Dogecoin, and more. 

For a more in depth look at how Rosen Bridge will operate, please visit the [Rosen Bridge website](https://rosen.tech/).

_Disclaimer: Please manage risk responsibly and know your assumptions when investing in cryptocurrency assets._

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As of today, interested parties can now acquire the Rosen Bridge token (RSN) through Spectrum Finance DEX. This marks a significant milestone in preparation for the launch of Rosen Bridge.

Rosen Bridge Token Launch

[Ergohack VII](https://ergohack.io/): The Future of Finance - Ways of Adoption has just concluded after running from October 13-15. For those who are unfamiliar with ErgoHacks, they are an important Ergo ecosystem event that takes place multiple times a year. These hackathons serve to inspire creativity and collaboration amongst developers and entrepreneurs for the purpose of bringing new utility, tooling, and/or dApps to Ergo. With Ergohack VII, our contestants were tasked with designing and creating products that further the mainstream adoption of the Ergo Platform.

## Ergohack VII Participants

#### Satergo - NiPoPoWs

The [Satergo ](https://satergo.com/)wallet on Ergo is a unique wallet that acts as a full node wallet. Full node wallets have an excellent reputation for strong security assumptions but can often be painfully slow to load/refresh. However, [NiPoPoW](https://ergoplatform.org/en/blog/2022-04-01-nipopows-on-ergo-innovations-in-blockchain/) (blockchain compression technique) integration into the Satergo wallet will allow the wallet to load swiftly while maintaining strong security assumptions. 

#### SideChainProto

Ergo co-founder Alex Chepurnoy (Kushti) and community developer Ross Weir teamed up to explore the implementation of [sidechains](https://github.com/ross-weir/ergohack-sidechain) on Ergo. Chepurnoy stated on [Twitter](https://twitter.com/chepurnoy/status/1713591862991184357): “During the ErgoHack VII we've proven (with real contracts) that Ergo <-> Ergo-like sidechain transfers can be trustless (so [the] security is reduced to consensus issues).” Utilizing thorough and concise research in their [whitepaper](https://github.com/ross-weir/ergohack-sidechain/blob/main/docs/whitepaper/sidechain.pdf), Chepurnoy and Weir aim to show that it is possible to use Ergo sidechains for exchanges with other cryptocurrencies and that it can be trustless. There is also an emphasis on keeping the consensus on Ergo alone.

#### Lilium: Event Ticketing

Lilium is a project spearheaded by community developers [MGPai](https://twitter.com/shishirpai) and [Lgd](https://twitter.com/ldgaetano). Originally, their primary focus was on creating a mass minter and sales distributor for NFTs. Upon having delivered this product seamlessly, they wanted to add more to the Lilium protocol with a feature called [event ticketing](https://lilium-lgc0eglsj-ergo-hack.vercel.app/). Lilium co-founder Lgd states that “Users can create an event and have a corresponding ticket sale. This ticket will be a minted NFT that the buyer will own. Sale creators have full customizability of their sale similar to our NFT collection sales.”

#### Atomic Swap: Web Interface

Community developer Analog Ergo (Deathgripson) has been working on implementing an atomic swap web interface on Ergo. Atomic analog swap is a platform for cross-chain atomic swaps. It is a cryptographic protocol that enables multiple parties to exchange without trusting each other. The protocol relies on off-chain and on-chain scripting conditions. In staying true to Ergo’s principles, this protocol is open source and can be viewed on [GitHub](https://github.com/dzyphr/AtomicAnalogsLocalWebUI).

#### Metamask Integration

Ergo developer Captain Nemo and the Nautilus wallet team have implemented metamask integration on Ergo. Watch the [video](https://twitter.com/NautilusWallet/status/1713730734437883973) for a visual on how to integrate your Ergo wallet with Metamask. This is a significant milestone because it allows users from other ecosystems to access their $ERG in a popular mainstream wallet. The Nautilus team believe that this project can make it much easier for users to do things like atomic swaps and bridge between different blockchains. They will essentially be able to do it all with just one wallet. 

#### Hodlbox

[Hodlbox](https://hodlbox.xyz/) is a unique project that was built during this ErgoHack. It is an open source dApp that brings gamification to the Ergo ecosystem. It is a decentralized DeFi game that has users deposit $ERG in a hodlbox. This hodlbox is then locked for a period of time, attempting to force the user to hold their $ERG long term. The inspiration for this game is that it keeps $ERG stored long term, discouraging a user from selling early. Users pay a nominal fee of 1% for the use of this dApp.

_Disclaimer: Users should always know their assumptions when using this protocol and understand that price appreciation is never a guarantee._

#### ReputationSystemTeam

For this project, the team’s primary focus was on developing a reputation system. They stated that this system plays a crucial role in blockchain because they seek to address the fundamental requirement of trust. Trust is vital in any ecosystem, and their goal is to create a decentralized, user-driven solution that fills the trust gap through reputation assignment and transfer. Within crypto, users need to be able to trust the entities they engage with, whether it be smart contracts, addresses, URLs, or other off-chain elements. This reputation system's goal is to build and sustain that trust. To learn more about how this reputation system works please visit the [GitHub](https://github.com/jossemii/ergohack-vii). 

#### Ergo Poor Man’s Wallet

“[The Ergo Poors Man's Wallet](https://github.com/epmw/epmw/) (EPMW) project is a simple, DIY, low-cost hardware wallet for [the] Ergo cryptocurrency, which was created during ErgoHack VII hackathon from the Ergo Hackathon series in October 2023. The wallet is designed to be affordable, with a total cost of around $10, including shipping cost of components to Europe.” This wallet serves to be a fantastic budget option for those who do not want to use a Ledger. As always, the user should know their security assumptions when using any wallet. Verifying that a wallet is safe is an essential step in keeping your funds secure. 

#### Auction Coin

[Auction Coin](https://auctioncoin.app/assets/whitepaper.pdf) (a project by anonreal#2768) is designed to be a fair, decentralized, and free market token distribution protocol. During ErgoHack, all components for the protocol were designed, implemented, and are now fully functional. Following the end of ErgoHack, next steps include gradually moving in the direction of making the protocol accessible to anyone. Users will be able to “lock tokens, set auction parameters, and purpose actions (distribution, providing liquidity, raising funds),” through the security of smart contracts and off-chain code. 

### Conclusion

Open sourced code, decentralization and DeFi tooling is what Ergo is all about, and this most recent Ergohack offers some impressive tools to further the adoption of the blockchain. Judging will commence in the following days and we look forward to announcing all the prize winners for ErgoHack VII!

To learn more about Ergohack events, visit the [Ergohack](https://ergohack.io/) website.


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Ergohack Participants - The Future of Finance

[Ergohack VII](https://ergohack.io/) is fast approaching and the community is eager to see what new tools and products the competitors will create! This ErgoHack is inspired by the future of finance with a focus on promoting mass adoption and scaling. The event takes place from October 13th-15th and features several notable [prizes](https://ergoplatform.org/en/news/ErgoHack-7-Update-Prize-Pool/):

## Prize Pool

**1st place - 9000 SigUSD**
**2nd place - 5000 SigUSD**
**3rd place - 4000 SigUSD**

**Ergo Raffle Prize - 900 ERG**

## Ergohack VII - Reaching the Masses

Ergohack VII invites developers to bring forth their expertise in creating decentralized, open sourced financial tooling. Ergo’s core ethos is to offer financial tooling to the ordinary person, and ErgoHack VII challenges developers to find ways to incorporate Ergo into existing infrastructure (Metamask, Trustwallet, etc) as well as create new avenues to mass adoption. 

## Meet Your Judges

The judging panel features several Ergo Foundation and Ergo community members that are representative of a diverse range of skill sets. Each of these judges offers unique expertise in different facets of blockchain technology.

### Alexander Chepurnoy (Kushti) 
Active in blockchain since 2011, Chepurnoy (Kushti) has more than 15 years experience in software development and written over 20 academic papers. Co-founder of Ergo, he was also a co-founder of smartcontract.com (now Chainlink), a core developer at NXT, and one of the first employees at IOHK, where he was a Research Fellow and Team Scorex Manager.

### Joseph Armeanio 
Joseph has been involved in crypto on the investment side since 2013, and was a partner CIO at Big Bear Investments. Joseph has been on the board of Universal Education Foundation (a 501(c)3 organization) since 2008. He brings a passion for counter economic frameworks and tools for social good. His role as business developer at the Ergo Foundation is to create partnerships in the crypto industry, as well as educational partnerships and research opportunities that drive the adoption of Ergo tooling in the public and non-profit sectors.

### Mark Glasgow 
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.

### Andre Hafner (qx)
Andre, or better known across socials as qx, is a lifelong technology enthusiast that has only recently dove into the world of blockchains in 2020. A director of information technologies at an Ivy League University, qx enjoys delving deeper into things like coding languages, creating content, and running ergoport bots in his spare time. Qx is an integral part of the Sigmanaut’s program and immerses himself deeply into furthering the adoption of Ergo and blockchain’s first principles. 



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Meet Your Judges: Ergohack VII

Valued at $1.6m at the time of writing, this generous gift constitutes 3% of the total SPF supply. Additionally, a similar percentage of Rosen Bridge (RSN)’s total token supply is also expected to be allocated to the EF. This fresh injection of funding will further bolster the Foundation's capacity to promote continued innovation and growth within the Ergo ecosystem.
With an understanding of the delicate balance required to maintain market stability, the Ergo Foundation has committed to a methodical and paced strategic deployment of these assets. 

The Foundation is committed to decentralisation and its goal of passing responsibility to the community. In keeping with this, the EF will allocate a portion of the donated tokens to the Sigmanauts Treasury. The Sigmanauts is an Ergo community group that advocates for the adoption of the Ergo blockchain while promoting Ergo’s values in the larger cryptocurrency space. Members volunteer their time, skills, and resources to deliver on the goals of the group and the larger Ergonaut community. 

This donation marks a significant milestone in the Ergo Foundation's journey. With these additional resources, the Foundation is now in an even stronger position to drive innovation, support projects, and contribute to the evolving landscape of blockchain technology.

The new Ergo Foundation MultiSig wallet can be viewed [at this link](https://ergexplorer.com/addresses#2BggBDgr9n9geTKjCJBCEWMReb2i7wcocw7fjVd3QyM7qFMtmVHyoFr78kChAxGekJxUTZru2aMjyZKcVoPfHX5d12RqNrnEAgzGqUCoJ2zkCiiUURror6NJ6HYyPxxUf5qj5FdQXqJ2zFv1a8U9Lieib59S8mxpE2oLAPt7P5cyngAa5sVEHHKeJrKkpp2yfQH3kshujjPCCc6qv2StJkmbzDTqAcxTpjcB9voMhi1tCybU4ikxSJEoAKmr5mppSfVAB5zSpREYstCVU). If you are interested in contributing to the goals of the EF, we continue to graciously accept any and all donations at that wallet address. 
 


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In a gesture recognizing the spirit of collaboration in the Ergo ecosystem, the Ergo Foundation (EF) has received a significant donation of 30,000,000 Spectrum Finance tokens (SPF).

The Ergo Foundation's Path to a Robust Digital Ecosystem

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