L2FINANCE Won the First Prize in Arbitrum Hackathon Preliminary Round; Excitement Building for Finals


NEW YORK, NY – June 8, 2023 – L2FINANCE is a comprehensive financial derivative market service platform that specializes in providing market-making services for on-chain derivatives liquidity. It leverages machine learning and global risk factor models to implement AI-driven automated optimization strategies, reducing trading frictions, mitigating market risks, and offering efficient operational processes and rapid strategies.

On June 1st, the online preliminary round of the Arbitrum Hackathon, organized by the Arbitrum Foundation, concluded successfully. The preliminary round attracted numerous outstanding project teams, among which L2FINANCE emerged as the winner with an excellent performance, securing a spot in the finals. This achievement not only showcases L2FINANCE’s technical prowess and innovation capabilities but also draws high attention from the industry regarding its future development.

L2FINANCE is dedicated to solving the liquidity issues of on-chain derivatives, enhancing capital utilization in the market, and mobilizing the flow of idle funds in the market. The project team employs techniques such as machine learning and global risk factor models to achieve AI-optimized strategies, reducing trading frictions, mitigating market risks, and providing efficient operations and rapid strategies. This unique technological implementation allowed L2FINANCE to stand out in the preliminary round.

In the hackathon preliminaries, L2FINANCE demonstrated outstanding competitive strength. They showcased unique technological advantages in addressing on-chain derivative liquidity, enhancing capital utilization in the market, and mobilizing the flow of idle funds in the market. Additionally, L2FINANCE employed innovative approaches such as full-collateral mode and multi-asset collateral to diversify assets into multiple on-chain derivative ecosystems, managing risks and increasing returns. These innovative measures earned the favor of the judges, ultimately propelling L2FINANCE to the finals.

L2FINANCE’s success is not by chance. As an emerging project in the derivatives space, the L2FINANCE team has been continuously exploring and practicing how to provide better on-chain derivative financial services to users. They believe in the power of technology and the spirit of innovation, continuously advancing product and technological upgrades. In this hackathon preliminary round, L2FINANCE gained valuable experience and feedback, which is of great significance to its development.

In an interview, Benjamin Davis, the CMO of L2FINANCE, expressed his gratitude, saying, “We appreciate the recognition and support from the organizers of this event, as well as all the judges who participated in this competition. The L2FINANCE team will continue to tirelessly strive for technological and product upgrades, providing users with more diversified, secure, and efficient on-chain derivative financial services.” His words were filled with expectations and confidence for the future.

L2FINANCE’s success is also attributed to its choice to deploy on the Arbitrum chain. Arbitrum, as one of the Layer 2 scaling solutions for the Ethereum ecosystem, offers fast and low-cost transaction processing capabilities. This provides L2FINANCE users with faster transaction speeds and lower transaction costs. L2FINANCE’s decision to deploy on Arbitrum aims to deliver more efficient, secure, and cost-effective services while leveraging advantages and value within the Layer 2 ecosystem.

In L2FINANCE’s future plans, they will continuously introduce new features and services to meet user demands. Recently, L2FINANCE has officially launched and introduced utility tokens and staking rewards functionalities. Furthermore, within the next month, they will launch L2FINANCE BANK, a lending product addressing user fund issues. By continuously improving products and services, L2FINANCE aims to provide users with convenient, secure, and diversified on-chain derivative financial services. To ensure platform security and stable operations, L2FINANCE will also enhance platform security measures, including risk management and compliance regulations.

At the end of the interview, the host expressed congratulations to L2FINANCE for its success and future development, and expressed excitement for the finals. The finals will be the stage where L2FINANCE, MCDEX, and ApeX teams showcase their strengths, and who will claim the first place and receive $10 million in funding support, which will be the focal point of industry attention.

For the L2FINANCE team, the victory in the hackathon preliminaries is just the beginning, as the road ahead is filled with challenges and opportunities. They will continue to explore new business opportunities and partnerships, injecting new momentum into the development and ecosystem construction of L2FINANCE. We look forward to witnessing L2FINANCE achieving greater accomplishments in the future, bringing users more innovation and convenience in on-chain derivative financial services.

Media Details

Company name: L2FINANCE

Contact person name: John Smith

Company email address: info@l2finance.org

City and country name: New York, United States

Website URL: https://l2finance.org

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