Obligate’s tech mavericks shine at Encode x Solana hackathon

Obligate
3 min readFeb 28, 2024
Winning the Best Solana dApp category with on-chain Structured Products platform

Huge congratulations to our tech team who claimed victory at the recent Encode x Solana Hackathon! The project, a Distributed Ledger Technology (DLT) issuance platform, clinched the top spot in the Best Solana dApp category, reaffirming the potential and versatility of on-chain solutions for capital markets.

The global market for structured products stands at an impressive $7+ trillion, expanding with each passing year. However, it has been fraught with challenges, including complex legal frameworks, operational burdens, and cumbersome settlement processes. Enter the latest development from Solana, which our team leveraged to create a platform that could potentially turn the tide for the entire industry.

At the core of the presentation by Viktor Lebedev, Head of Product at Obligate, was a fully functional demo for the creation of barrier reverse convertible on Bitcoin. The process is streamlined: investors set their contract parameters and request a quote. Issuers respond with pre-signed transactions, ensuring that once the investor selects the best offer and signs it, the deal is settled instantly.

With our platform, we address critical pain points in the structured products market:

  1. Standardized documentation and automated execution.
  2. Atomic transfers and instant execution without settlement risks.
  3. Elimination of intermediaries for a streamlined process.

Our commitment

The journey doesn’t end with the Hackathon win. Viktor Lebedev, our Head of Product, emphasizes the team’s ongoing efforts to enhance the platform’s usability while adhering to security and regulatory standards. Using Solana’s Token 2022 features, our platform not only supports structured products but can also extend to bonds and derivatives, demonstrating a versatile application range.

What’s next?

We’re not just proving the viability of on-chain structured products; we’re bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The Obligate platform marries the convenience of Web3 with the reliability of TradFi, appealing to investors who value both. This victory is a testament to our team’s and the untapped potential of DLT in financial markets.

Congrats again to the team and a big thanks to everyone involved! As we celebrate this victory, we look forward to continuing our journey in revolutionizing the world of digital securities. Stay tuned for more updates, and follow our work on GitHub as we turn this proof of concept into a robust solution for the industry.

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Obligate

Obligate is an investment platform that enables investors to explore and invest in on-chain bonds in a regulated environment.