Get ready for the next team in the TON Giants Series.

To truly grasp the power of innovation and teamwork showcased in The Open League Summer 2024 Hackathon, there’s no better way than to hear from the participants themselves.

Introducing SettleTON, a project improving passive investing and yield farming on TON Network. Designed for the modern investor, SettleTON offers a one-click solution for investing in a curated index of TON projects. With its auto-reinvestment feature, users can steadily grow their assets.

SettleTON achieved $120,000 TVL in just a month and seen a remarkable 160% growth, attracting 30,000 monthly users. The current TVL is $250,000 with an all-time high TVL of $500,000. Some vaults boast between 100-200% APY rates and their NFT collection has reached 1,600 TON in sales.

As part of the TON Giants Series, we highlight SettleTON’s innovative contributions during The Open League Hackathon. With their strong TradFi background and a determination to create something truly new, the team’s efforts paid off.

Here’s a look at their journey and insights from their Open League Hackathon experience:

Can you start by introducing your team and sharing how you came together for The Open League Hackathon?

We are a dedicated team with extensive experience in TradFi. The current team at SettleTON consists of four developers, one UX/UI designer, and one marketing/product manager. Previously, we won the EVAA hackathon for liquidation bots with a low-latency solution and were eager to participate in the TON Foundation hackathon. The bootcamps played a crucial role in helping us collaborate effectively and gather valuable feedback from the judges.

What initially motivated your team to participate in The Open League Hackathon, and what inspired the project that ultimately led to your win?

The prize pool was definitely a motivating factor, but more importantly, we had confidence in our strong team and believed we could win. Our focus was solely on securing the top spot; we weren’t even looking at the second and third positions. Our unity, determination, and countless sleepless nights drove us to success.

For those of you who were new to The Open League Hackathon, how did your previous hackathon experiences influence your approach this time around?

Our strategy was straightforward. We developed solutions that no other builder on TON has ever encountered. Recognizing this gap, along with maintaining open communication and actively seeking feedback, was key to our victory.

During the development process, what were some of the key challenges you faced while building on TON Blockchain, and how did you work through them?

One of the main challenges we faced was deciding between using FunC or Tact for smart contract development. Although Tact is more beginner-friendly, we built our DeFi project using FunC because it allowed us to develop at a lower level, closer to the actual TVM instructions, even though it came with higher initial barriers to entry.

Another challenge was the inevitable complexity of the TON ecosystem itself. To overcome this, we leveraged the strength of the TON builders' community. By actively engaging in public and private chats, we could tap into the collective knowledge and resolve issues in minutes rather than spending days or weeks troubleshooting problems that others had already encountered and solved. This collaborative approach was crucial in speeding up the development process and navigating the technical challenges we faced.

Were there any particular tools or features on TON Blockchain that proved especially helpful in developing your project? What resources would you recommend future hackathon entrants make the most of?

Don’t spend time on the testnet; you can test everything via Sandbox and Blueprint frameworks. It would be challenging to convert all of your users into mainnet. Do as many tests as possible, both with positive and negative scenarios. Write and review them daily.

Looking back, what was the most rewarding part of The Open League Hackathon for your team, and how do you think this experience has contributed to where your project is now?

The bootcamps were immensely beneficial for us. Winning at the bootcamp and securing the top spot fueled our motivation. We didn’t stop there; we attended additional bootcamps to gather more feedback and to network. The Notion documents on winning strategies, pitch deck creation, and application emphasis helped us refine our approach. We’ve integrated this experience to develop a product that truly meets user needs.

Finally, what advice would you give to those looking to participate in upcoming hackathons?

Focus on positioning, crafting your narrative, onboarding, building community, and delivering user value. Assemble a great team, and you’ll have what it takes to win the hackathon!

This interview is for informational purposes only and does not constitute an endorsement, approval, or recommendation of the project. The views and opinions expressed in this interview are those of the interviewee and do not necessarily reflect the views of the TON Foundation. This is not investment advice.