On Friday, blockchain projects Cosmos and Blockstack both announced winners of their corresponding HackAtom V and HackDeFi hackathons, each offering a glimpse into the coming wave of DeFi evolution — a vision including marked advances in tooling, interoperability, and composability.

While the overwhelming bulk of decentralized finance (DeFi) development remains concentrated on Ethereum, where over $16 billion in digital assets are currently locked by various DeFi Protocols, Cosmos and STX are currently the #25 and #59 ranked projects by marketcap and look to exist fast risers eager to take a slice of Ethereum'due south DeFi pie.

On the Creation side, the interoperability and scalability focused blockchain awarded HackAtom V prizes to competitors offer cross-chain staking, every bit well as a timelocked "clawback account."

Awarded to Tomas Tauber, who is one of the engineers working on Crypto.com'south forthcoming blockchain, the Clawback Business relationship is a smartcontract-linked pair of accounts that offers a secondary access to funds for a sure flow of time. Possible use cases for the linked accounts include cryptocurrency commutation wallet management, also every bit programmed "cashback" and other digital asset reward programs.

Some other promising DeFi submission is Osmosis, which pitched itself as "Balancer meets Interchain Staking." An automated market maker like to Balancer, the key feature for Osmosis is its "custom staking token design tool," 1 which allows users to create tokens than can be staked on multiple bondage — potentially offer developers access to liquidity across multiple ecosystems.

For Blockstack, a project aiming to bring Bitcoin as collateral to decentralized application (Dapp) development, the first-place prizewinner was DualX, a projection that allows users to preprogram certain trading logic into normally locked staking funds.

DualX pitches itself as a new kind of commutation that "provides the opportunity for an investor's capital (denominated in BTC) to earn a yield on their funds while passively waiting to buy an investment nugget (say STX)." The BTC depositor would earn yield until STX reached a sure price, whereupon the depositor would have the option of purchasing the STX.

These possible innovations come up during an particularly promising time for DeFi's growth. While the effigy is disputed, some analysts have claimed that DeFi has passed 1 million users, and there has been a boom in products that might assistance stabilize the infinite.